Japanese pulp and paper company Oji Holdings has passed a resolution to form a business alliance as well as capital alliance with Chuetsu Pulp & Paper.
“Business environment of pulp and paper industry in Japan has been rapidly changing in the recent years, which can be illustrated by examples such as the structural changes in demand caused by advances of information and communication technology,” according to the company report.
The move will enable Oji Holdings to drive cost rationalization measures as well as entry as well entry into new business fields.
Oji Holdings is the largest shareholder with 9.03 percent stake in Chuetsu Pulp & Paper.
