As already
announced, we ("Oji") had incorporated an Indian subsidiary Oji India
Packaging Pvt Ltd ("Oji India Packaging"), effective June 20, 2012,
for the purpose of starting Corrugated Container Business in India. We are
pleased to announce that the Business Plan for Oji India Packaging has recently
been approved.
It has now been
decided to conduct the business under a Joint Venture to be formed by Oji, JK
Paper Ltd. ("JK"), who is a leading manufacturer of pulp and paper in
India, and Marubeni Corporation in Japan. Three parties have executed a Joint
Venture Agreement effective today.
