Press ReleasesNippon Paper Industries Launches New Joint Venture Packaging Business with Kyodo PrintingExpanding the packaging business
Nippon Paper Industries Co., Ltd.
Nippon Paper Industries Co., Ltd. (President: Fumio Manoshiro, hereinafter, "the Company") today reached an agreement with Kyodo Printing Co., Ltd. (President: Yoshiaki Fujimori, hereinafter, "Kyodo Printing") to launch a new joint venture for producing and selling packaging such as wrap cartons and tissue boxes on the site of Kyodo Printing Moriya Plant in Moriya-shi, Ibaraki, as follows. We entered into the joint venture agreement today.
The Company announced today that it will cease production at Soka Paper-Pak Co., Ltd. (President: Hidehiko Ishikawa, hereinafter, "Soka Paper-Pak") at the end of July 2017 in the separate news release "Nippon Paper Industries Restructures Production System of Liquid Packaging Carton Business and Establishes New Technical Center." The new joint venture will take over the production of tissue boxes, which Soka Paper-Pak is currently producing for the Tokyo Mill of Nippon Paper Crecia Co., Ltd. in the Nippon Paper Group. It will also take over the production of paper packaging products such as wrap cartons that the Kyodo Printing Moriya Plant has produced up until now.
The Company specified the goal of "business structure transformation" in its 5th Medium-Term Business Plan (from FY2015 to FY2017) over a period of three years, commencing last year, and is focusing on the reallocation of management resources to fields in which growth is expected. Among these, we are expanding the supply chain aggressively, particularly in the packaging field. Through this new joint venture, we will utilize the processing functions of both Nippon Paper Industries and Kyodo Printing, such as developing new packaging in the packaging business, where users have a range of requirements. We will focus on efforts that will lead to growth and expansion.
Overview of the joint venture with Kyodo Printing
|（１）Company Name||Kyodo NPI Package (tentative name)|
|（３）Date of Establishment||January 2017 (planned)|
|（５）Capital contribution ratio||
Kyodo Printing 65%
Nippon Paper Industries 35%
|（６）Business Description||Production and sales of packaging such as wrap cartons and tissue boxes|