November 4, 1997

A New Housing Materials Company Started

Nippon Paper Industries Co., Ltd.

Nippon Paper Industries Co., Ltd. announced to establish a new company - PAL Co., Ltd. on April 4, 1998 to diversify the company's housing materials division as an independent entity.
Profile of new company
Company's name : PAL Co., Ltd.
Capital : 4 billion yen
Representative officer : Takashi Wakai ,
President (Present Senior Managing Director of Nippon Paper Industries and General manager of Housing materials division )
Head office : No 4-3-17 Shinjuku, Shinjukuku, Tokyo (Office of Housing Materials Division of Nippon Paper Industries)
Employee : 314 (as of the end of March 1997)
Subsidiaries : Yufutsu Pal Co.,Ltd.
Kanto Pal Co.,Ltd.
Pal Plywood Co.,Ltd.
Pal Building Materials Co.,Ltd.
N & E Co., Ltd.
Matsuura Shoji Co.,Ltd.
Sanyo Kokusaku House Co.,Ltd.

Total employee : 747 as of March, 1997

Sales : 50.1 billion yen (Actual in 1996)
Business : Manufacturing and sales of housing materials, stairs, housing components, wood flooring, wood wallboard, MDF(medium-density fiberboard), plywood, PB (particle board)
The new company will be 100 percent owned by Nippon Paper Industries, and take over all the assets, sales right and employee excluding land.