Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.
November 13, 2023
To whom it may concern,
Company name: Mitsubishi Paper Mills Limited
Representative:

Ryuichi Kisaka, President and CEO

Contact:

Daisuke Yamada(Code No.3864, TSE Prime）
General Manager of Corp. Planning Dept.
(TEL．+81-3-5600-1488)

Notice of Group Organization Restructuring(Merger of wholly owned subsidiaries and others)
Mitsubishi Paper Mills Limited (hereinafter “MPM”) hereby announces that at our board of directors meeting held on
November 13, 2023, our group organization restructuring (hereinafter the “Organization Restructuring”) was resolved.
As the Organization Restructuring is going to take place between MPM and its consolidated subsidiaries, and between
its consolidated subsidiaries, certain disclosure items and details are omitted.
Details:1.

Purpose of the Organization Restructuring
MPM group is actively pursuing the strengthening of our business foundation and the creation of a new Mitsubishi

Paper Group as outlined in our medium-term management plan (for the period from March 2023 to March 2025). As partof this initiative, on April 1, 2023, we integrated Diamic Co., Ltd. into Mitsubishi Oji Paper Sales Co., Ltd., consolidated
subsidiaries at the Kitakami site, and merged subsidiaries at the Hachinohe site.
Furthermore, we are proceeding with the merger of the following subsidiary companies within our group to further
rationalize our organization, reduce fixed costs, and strengthen corporate governance.

2.

The essence of this organizational restructuring① The merger schedule
Date
The date of the Board of Directors'
resolution of our company
The date of the merger agreement
signingcompany

November 13, 2023
November 13, 2023
April 1, 2024

The effective date of the merger

Absorbed (merged) and extinguished(scheduled)
July 1, 2024
(scheduled)

Shin-Hokuryo Forest Products Co., Ltd.
Kyoryo Chemical Co., Ltd.
Takasago Paper Processing Co., Ltd.
KJ SPECIALTY PAPER Co., Ltd.

② The method of merger
We will proceed with the merger by which our company will be the surviving entity and Shin-Hokuryo Forest
Products Co., Ltd., Kyoryo Chemical Co., Ltd., Takasago Paper Processing Co., Ltd., and KJ SPECIALTY PAPERCo., Ltd. will be the absorbed and extinguished entities.
③ The content of the allocation related to the merger

There will be no issuance of new shares and no payment of merger consideration as a result of the merger.
④ Treatment of New Stock Warrants and Convertible Bonds with Stock Warrants in Connection with the Merger
There are no relevant items.
⑤ Overview of the Companies Involved in the Merger
Surviving company(1)Company name

Mitsubishi Paper Mills Limited(2)

Location

2-10-14 Ryogoku, Sumida-ku, Tokyo(3)

Name and title of representative

President and CEO
Ryuichi Kisaka(4)

Main business

Production, processing, and sale of paper, pulp, and photosensitive
materials(5)Stated capital

36,561 million yen(6)Date of establishment

April 1, 1898

(7)

Issued shares

44,741,433 shares(8)

End of fiscal year

March 31

(9)

Major shareholders and shareholdings ratio

Oji Holdings Corporation

32.90％(As of September 30, 2023)

Isao Nasu

4.77％

The Master Trust Bank of Japan, Ltd.（Trust account）

3.51％

BNY GCM CLIENT ACCOUNT JPRD AC ISG（FE－AC2.44％

Mitsubishi Paper Mills Shareholder Association

2.14％

(10)

The financial condition and operating performance of the most recent fiscal year

End of fiscal year

FY2023.03 (consolidated）

Net Assets

74,041 million yen

Total Assets

227,058 million yen

Net assets per share
Net sales

1,646.59 yen
209,542 million yen

Operating Income

968 million yen

Ordinary Income

3,089 million yen

Net profit attributable to owners of parent△571 million yen

Dividend per Share△12.97yenAbsorbed company(1)(2)

Company nameLocation

Shin-Hokuryo Forest

Kyoryo Chemical Co.,

Takasago Peaper

KJ SPECIALTY

Products Co., Ltd.

Ltd.

Processing Co., Ltd.

PAPER Co., Ltd.

Aomoriyachi-3

Kōtarihashimoto-15

105 Takasagochō

7-1 ShinbashichōKawaragi

Nagaokakyo, Kyoto

Sakaemachi

Fuji, Shizuoka

Hachinohe, Aomori

(3)
(4)

Takasago, Hyogo

Name and title ofPresident & CEO

President & CEO

President & CEO

President & CEO

representative

Goro Imahori

Yukio Tokunaga

Hironori Oikawa

Ryuki Fuchiwaki

Main business

The manufacturing,

The finishing of paper andThe cutting, sorting, andThe manufacturing,purchase, and sale of wood

packaging materials, as

packaging of paper

processing, and sale ofchips and other related

well as the manufacturing

activities

of disinfectants andchemical paper

sanitizers, among otheractivities(5)

Stated capital

70 million yen

12 million yen

30 million yen

50 million yen(6)Date of establishment

November 1980

May 1957

December 1979

July 2011(7)

Issued shares

129,000 shares

240 shares

60,000 shares

2 shares(8)

End of fiscal year

March 31

March 31

March 31

March 31

(9)

Major shareholders andMPM 100％

MPM 100％

MPM 100％

MPM 100％

shareholdings ratio(As of September 30,2023)(10)

The financial condition and operating performance of the most recent fiscal year

End of fiscal year

FY2023.03

FY2023.03

FY2023.03

FY2023.03(standalone）(standalone）(standalone）(standalone）

Net Assets

550 million yen

28 million yen

136 million yen

4,142 million yen

Total Assets

2,217 million yen

123 million yen

582 million yen

8,129 million yen

4,264.78 yen

116,680.32 yen

2,267.00 yen

2,070,959,514.50

Net assets per share
Net salesyen
8,651million yen

759million yen

912million yen8,550million yen⑥ The post-merger situation

There are no changes in our company's name, address, representative's position and name, businessactivities, capital, and fiscal year after the merger.

3.

OthersIn addition to the integration mentioned above, on April 1, 2024, the following mergers between our groupcompanies will also be implemented:① Merger of Mitsubishi Paper Engineering Co., Ltd. and Ryokou Co., Ltd..
② Merger of Mitsubishi Oji Paper Sales Co., Ltd. and Ryoshi Co., Ltd..

4.

Future outlook
The impact on consolidated performance due to this organizational restructuring is minimal.