Oji Paper Changing

Oji Paper Co. will integrate group-wide production and sale of liners and corrugated mediums under its wholly owned subsidiary Oji Paperboard Co.

In the first stage, Oji Paper will convert four affiliates into wholly owned subsidiaries: Takasaki Kosan Co., Chuo Paperboard Co. and Hokuyo Paper Co. -- all producers of liners and corrugated mediums -- and ORI Co., which holds Chuo's assets.

Following the share exchange, Oji Paper will spin off its liner and corrugated medium production division and transfer it to Oji Paperboard in early October.

In the third stage, which will also take place in October, Oji Paperboard, Takasaki Kosan, Chuo Paperboard and Hokuyo will set up local production units.

The four companies and ORI will merge at the same time, but Oji Paperboard, designated to be the surviving entity of the merger, will become the holding company for the new production units.