Mitsubishi Paper Mills Ltd. and Hokuetsu Paper Mills Ltd. said they will take mutual equity positions and join forces in production, procurement and distribution to cut costs.
Mitsubishi Paper, Japan's No. 5 paper maker, will buy 2 million shares, or 1.29% of Hokuetsu, while Hokuetsu will buy 1 million shares, or 2.14%, of Mitsubishi Paper.
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