金沙js4399

R金沙js4399o Co., Ltd. announces that it was resolved at its Board of Directors’ meeting held today that it will take over all shares for subscription of Taiko Paper Mfg., Ltd. (TPM) through third-party allocation on September 1, 2021 and make it a wholly owned subsidiary.
As announced in the news release “R金沙js4399o Enters into Memorandum of Understanding Regarding the Business Reconstruction Support for Taiko Paper Mfg., Ltd.” on March 26, 2021, R金沙js4399o has signed a memorandum of understanding (MOU) with TPM to make TPM a wholly owned subsidiary of R金沙js4399o on the condition that TPM's reorganization plan is approved by the court. Based on the MOU, R金沙js4399o has been providing management support to TPM.
On July 31, 2021, it was confirmed that TPM's reorganization plan has been approved by the court. Therefore, R金沙js4399o will provide TPM with the funds necessary for executing the reorganization plan and make TPM a wholly owned subsidiary, after which R金沙js4399o will strive for an early completion of the reorganization proceedings and work to rebuild TPM's management and expand its business operations.
By making TPM a wholly owned subsidiary, R金沙js4399o will expand into the manufacturing of kraft pulp and kraft paper which are in the upstream of the R金沙js4399o Group's paperboard and heavy duty packaging businesses. In the future, R金沙js4399o will see further deepening and rapid progress of the R金沙js4399o Group's various core business fields through collaboration with TPM.