Rengo Co. (Kita-ku, Osaka, Japan) Chairman, President, and CEO Kiyoshi Otsubo announced that the company has acquired all of Nippon Paper Industries’ shares of Rengo consolidated subsidiary Asahi Shiko Co. (Konosu-shi, Saitama Prefecture, Japan). The investment ration prior to the acquisition was Rengo 60%, Nippon Paper Industries 40%. Asahi Shiko is now a wholly-owned subsidiary of Rengo.

Asahi Shiko has plants in three locations: Konosu-shi, Saitama Prefecture; Kitasaku-gun, Nagano Prefecture; and Kamisu-shi, Ibaraki Prefecture. As a manufacturer of corrugated board and boxes with many customers in the fresh produce, automobile, chemical products, and medical products industries, the subsidiary operates on a stable management foundation.

Rengo will strengthen the cooperation between Asahi Shiko and neighboring plants directly managed by Rengo, as well as with Group companies, and work toward expanding the Rengo Group corrugated board business in the Kanto and Koushinetsu regions.