Note: This document has been translated from the Japanese original for reference purposes only. In the eventof any discrepancy between this translated document and the Japanese original, the original shall prevail
September 29, 2023
To whom it may concern,
Mitsubishi Paper Mills Ltd,
President: Ryuichi Kisaka(Code: 3864, Prime Market)
Contact: Daisuke Yamada, Chief of Corporate Planning Department（TEL．+813-5600-1488）
The Transfer of Business and Fixed Assets (Trust Beneficiary Rights) of Consolidated Subsidiaries
We hereby announce that at the Board of Directors meeting held on September 29, 2023, our company has resolved
the following:-To transfer the sports club business operated by our wholly-owned subsidiary, Ryoshi Co., Ltd., toRenaissance Co., Ltd.
-To establish a trust for related fixed assets (real estate) and transfer trust beneficiary rights to a designatedentity of Renaissance Co., Ltd.
１． Purpose of Business Transfer
In accordance with one of the fundamental principles of our medium-term management plan (from March2023 to March 2025), which is "Selection and Concentration", we have decided to transfer the sports clubbusiness of Ryoshi Co., Ltd., which does not offer synergistic benefits with our core functional products andpaper materials businesses.
The purpose of this transfer is to concentrate our efforts on our core businesses. The recipient of this transfer,
Renaissance Co., Ltd., is primarily engaged in the sports club business and operates a swimming school.
Considering factors such as location and member services, we have determined that Renaissance Co., Ltd. is
the most suitable candidate for the transfer.
Furthermore, the transfer of related fixed assets will enable us to optimize the allocation of our managerial
resources.
２． Overview of the Subsidiary（1）Name（2）Address（3）Representative（4）Business（5）Capital（6）Date of Establishment

Ryoshi Co., Ltd.

2-10-14 Ryogoku, Sumida-ku, Tokyo, Japan
President, Takao Fujiura
Insurance services, sports facility management, real estateleasing, parking lot management and operation, merchandise
sales, funeral arrangement intermediation
100 million yen
August 1971

３． Overview of the Recipient of the Business Transfer
・Business Transfer Recipient（1）NameRenaissance Co., Ltd.
（2）Address
2-10-14 Ryogoku, Sumida-ku, Tokyo, Japan（3）Representative
President, Toshiharu Okamoto（4）BusinessSports club business including fitness clubs, swimming schools,
tennis schools, golf schools, etc.; health promotion activities for
local governments and businesses; rehabilitation and careservices; other related businesses（5）Capital
3,210 million yen（6）Date of Establishment
August 1982
（7）Net Assets
10,991 million yen (as of March 31, 2023)

（8）Total Assets（ 9 ） Relationship with theListed Company

42,272 million yen (as of March 31, 2023)
Capital Relationship
None
Personnel Relationship
NoneTransaction RelationshipNoneStatus Regarding Related Parties
None・Trustee and Trust Beneficiary Rights Transfer
Regarding the trustee and the recipient of trust beneficiary rights, we will refrain from public
disclosure pending discussions between the parties involved. Furthermore, there are no capital
relationships, personnel relationships, transaction relationships, or noteworthy matters to bementioned as a related party between the trustee and the recipient of trust beneficiary rights and ourcompany.
４． Overview of the Transferred Business and Transferred Assets (Trust Beneficiary Rights)（1）NameKSC wellness（ 2 ） Location and Asset 1-1-1 Higashi Kanamachi, Katsushika-ku, Tokyo, JapanDetails
Land Area 11,533.81 m2
Building Area 13,145.39 m2（Gross Floor Area）（3）Operations Conducted
Fitness club, swimming school
Note: Regarding the transfer price and book value, we will refrain from public disclosure pending
discussions between the parties involved.
５． Schedule（1）Board of Directors Resolution Date

September 29, 2023

（2）Contract Signing Date（3）Transfer Date (Scheduled)

September 29, 2023
March 28, 2024

６． Future Outlook
As a result of the transfer of the business and fixed assets, it is expected that we will record approximately
1.3 billion yen in extraordinary profit for the fiscal year ending in March 2024.
We are currently conducting a detailed examination of the impact that this matter will have on ourconsolidated performance for the fiscal year ending in March 2024.
If there are any matters that require disclosure, we will promptly inform you.