PRESS RELEASE
May 15, 2020
Hokuetsu Corporation

The Formulation of the New Long-term Corporate Vision
and Medium-term Management Plan
The Hokuetsu Group (the “Group”) announces the formulation of a new Long-term
Corporate Vision and Medium-term Management Plan, as detailed below.

1. Long-term Corporate Vision
The Group formulated the Long-term Corporate Vision “Vision 2020” in May 2011,
aiming to develop into a global business group in accordance with the 2020 corporate
image target, and has succeeded in obtaining definite results. Now, we have formulated anew Long-term Corporate Vision, “Vision 2030,” with the goal of further continuous
growth as a global business group.
(1) Basic Policy
In a business environment that is subject to major changes, the Group and all its
stakeholders will aim for continuous growth by promoting management with effective
governance and compliance, and developing and providing services and products that areboth high quality and cost-competitive through environmentally-friendly businessactivities.
(2) Name of the Vision
Vision 2030
(3) Period
April 1, 2020 through March 31, 2030 (10 years)(4) Target Image of the Group in 2030
 A business group that contributes to sustainable social development on the axis ofenvironmental management
A business group that makes use of diverse human resources and the latest
technology to challenge ourselves in new business fields in step with the times
A business group made up of people working proactively with dreams, hopes andpride

2. Medium-term Management Plan
The “Medium-term Management Plan 2023” has been formulated as the first step towards
the realization of the Group image set out in the Long-term Corporate Vision “Vision 2030.”(1) Name of the Plan
Medium-term Management Plan 2023
(2) PeriodApril 1, 2020 through March 31, 2023 (3 years)(3) Target Consolidated Management Indicators (FY2022)
Net sales:
Operating profit:
Ordinary profit:
Profit attributable to owners of parent:
ROE:
EBITDA:¥280 billion¥15 billion¥20 billion¥15 billion
7.0%¥35 billion(4) Basic Policy
 Shift business portfolio
We will pioneer new core businesses in Japan and overseas and accelerate thebusiness portfolio shift that we have promoted, with the aim of the continuous growthof the Group.
 Expand business worldwide
We will develop a system to manage our main businesses outside Japan in a focusedand collective manner for further collaboration within and without the Group andmore profitability, and expand our businesses globally through investments likeM&A .
 Strengthen business in Japan
We will strengthen the profitability of our existing businesses by implementing
measures such as logistic reforms and constructing an optimal production system thatmeets trends in demand, make our containerboard business into a core business, andfurther expand our paper processing business.
 Strengthen corporate governance
We will strengthen our internal controls by holding “Consolidated Managementand Internal Control Meetings” and enhancing the functions of the Group Governance
Administration Department, set up an Audit & Supervisory Board Member Office(support staff of Audit & Supervisory Board Members), and increase the effectivenessof Audit & Supervisory Board Members’ audits.
 Promote SDG-related activities
We will promote activities that contribute to the SDGs through initiatives to reachthe “Group Environmental Target 2030”, the development of eco-friendly products
such as plastic alternatives, and workstyle reforms.
The details will be published on our website in May 2020.