Oji Holdings Corp. has worked on restructuring its manufacturing system as appropriate, in response to the structural changes in its domestic demand. Oji announced it has decided to close and remodel three manufacturing facilities as further measures.

These measures will result in capacity reductions of graphic paper of approximately 400,000 metric tpy, cost reductions of \3.7 billion/year, mainly fixed costs, and capital expenditures of \15.0 billion by estimate.

Note that the book value of these facilities was reduced in the previous fiscal year to the recoverable value taking into consideration structural changes in future domestic demand. Therefore, there will be no material impact on consolidated results for the fiscal year ending March 2020.

Oji apologizes for inconveniences caused to its customers and all other related parties and sincerely appreciates your continued understanding.