Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; Chairman, President & CEO: Kiyoshi Otsubo) announces that its consolidated subsidiary Hinode Shiki Kogyo Co., Ltd. (Head Office: Hioki-shi, Kagoshima Prefecture; President: Iwao Shiozaki) has acquired a 70% stake in Hakata Danboru Co., Ltd. (Umi-machi, Kasuya-gun, Fukuoka Prefecture), making it a subsidiary of Hinode Shiki Kogyo.
Hakata Danboru manufactures and sells corrugated boxes and is a major manufacturer in Fukuoka Prefecture. For the purpose of strengthening its management base, it has recently asked that the Rengo Group make an equity investment in the company.
Hinode Shiki Kogyo will strengthen its cooperation with Hakata Danboru in both sales and production, and will continue to expand the corrugated packaging business of Rengo Group companies in the Kyushu region.