Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; Chairman, President & CEO: Kiyoshi Otsubo) announces that it has acquired all of Nippon Paper Industries’ shares of Rengo consolidated subsidiary Asahi Shiko Co., Ltd. (Head Office: Konosu-shi, Saitama Prefecture; President: Yasushi Aoki; Investment ratio: Rengo 60%, Nippon Paper Industries 40%), making it a wholly-owned subsidiary.

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 with many excellent customers in the fresh produce, automobile, chemical products, and medical products industries, it 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.