Nippon Paper Industries Co., Ltd.
(President: Yoshio Haga) today converted AMCEL of Brazil (refer to Note 1), a
joint venture company with Marubeni Corporation (President and CEO: Teruo
Asada) for tree-planting, timber production and export operations, into its
wholly owned subsidiary. At the same time, Nippon Paper Industries transferred
all the shares it had held in WAPRES (refer to Note 2), a joint venture with
Marubeni in Australia, to Marubeni.
