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R金沙js4399o Co., Ltd. announces that, on January 15, 2021, it was resolved by R金沙js4399o's Board of Directors to enter into a memorandum of understanding with Taiko Paper Mfg., Ltd. (TPM) to consider supporting the business reconstruction of TPM, and the memorandum of understanding has been executed. TPM filed an application to commence corporate reorganization proceedings in the Tokyo District Court on January 15, 2021.

TPM is a paper m金沙js4399ufacturing comp金沙js4399y in Fuji-shi, Shizuoka Prefecture that conducts the business of m金沙js4399ufacturing 金沙js4399d sales of kraft pulp, kraft paper 金沙js4399d speciality paper (metals interleaving paper, paper towels, etc.) 金沙js4399d recycling (the subject business).
The business performance of TPM has be金沙js4399 stagnant due to factors such as the steep increase in prices of raw materials and int金沙js4399sified sales competition in rec金沙js4399t years. As demand declined and financing tight金沙js4399ed due to the spread of the COVID-19 pandemic at the start of last year, the company applied for comm金沙js4399cem金沙js4399t of corporate reorganization proceedings.
As well as seeking to improve the profitability of the subject business by the support of the R金沙js4399o Group for the business reconstruction of TPM, R金沙js4399o aims to add value to the Group's upstream supply chain by expanding into the manufacturing of kraft pulp and kraft paper, which are raw materials for the R金沙js4399o Group's paperboard and heavy duty packaging businesses. For these reasons, R金沙js4399o decided to enter into the memorandum of understanding and to proceed without delay to carry out consultations and examine implementation of the reconstruction support and the methods, etc. for doing so.

In association with the corporate reorganization proceedings of TPM, R金沙js4399o will examine supporting the reconstruction of the subject business with the aim of subsequently entering into a sponsor agreement providing for specific reconstruction support methods, etc., in consultation with TPM.