Osaka Paper Withdraws From Newsprint and Printing Paper Business
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Rengo Company (Osaka, Japan) Chairman, President, and CEO Kiyoshi Otsubo announced its consolidated subsidiary, Osaka Paper (Osaka, Japan) has decided to withdraw from the newsprint and printing paper business at the end of March 2016.
Osaka Paper entered the newsprint and printing paper business in 1947, and has been contributing to Japan’s high economic growth and the upgrading of the information and communications industry mainly through the sale of newsprint. However, due to recent changes in the business environment, such as the reduction in circulation of newspapers, continuation and growth of the newsprint and printing paper business is assessed to be difficult. Osaka Paper will instead focus resources on its other main business in boxboard.
Osaka Paper will close newsprint and printing paper PM 1 at the end of December and stop sales activities at the end of March 2016.
