Japan

Nippon Paper Industries Co. Ltd. manufactures and sells paper and pulp products.  The Company also manages wood building material business, logistic service, and leisure industry.

Hokuetsu Corporation is a paper and pulp products producer. The Company produces pulp, printing paper, specialty paper, fiber sheets, paperboard, coatedpaper, and lumber.  Hokuetsu Kishu Paper has an Elemental Chlorine Free bleaching facility for more environmentally friendly processing.

DAIKEN CORPORATION manufactures mineral and wooden fiberboards.  The Company also makes special plywood for ships, rolling stock, and musical instruments. Daiken operates engineering services and real estate business.

Tokushu Tokai Paper Co.,Ltd. is a holding company, which was established through reorganization.  The Group companies manufactures paperboards, specialty papers, and miscellaneous papers for industrial use.

Mitsubishi Paper Mills Limited manufactures and distributes pulp and a variety of paper products.  The Company's products include photographic paper, printing paper, and special purpose paper.

Chuetsu Pulp & Paper Co., Ltd. is a pulp and paper manufacturer.  The Company produces pulp, general paper, kraft wrapping paper, paperboard, and newsprint. Chuetsu Pulp & Paper also makes specialty paper, such as water and oil repellent paper.

WOOD ONE CO., LTD. mainly manufactures and sells secondary processed plywoods for floorings and fixtures.  The Company specializes in long floorings and lumber materials used in stairs, doors, and cabinets.  WOOD ONE has a subsidiary which operates forestation management in New Zealand.

NANKAI PLYWOOD CO., LTD. is a wood-processing company.  The Company's main products are Japanese-style room ceilings & floors and storage compartments. Nankai imports lumber from South-eastern Asia and produces plywood.

SK KAKEN CO., LTD. manufactures and sells paints primarily for construction. The Company also paints buildings.  SK Kaken also operates overseas, especially in Southeast Asia.

FUSO CHEMICAL CO., LTD. manufactures fruit acid and its salts.  The Company also produces resin additives, fine chemical products, and silica related derivatives.

Clearwater Paper Corp. manufactures consumer tissue, bleached paperboard, and wood products.  The Company supplies private label tissue to major retail grocery chains and produces bleached paperboard that is used by printers and packaging converters.

Dehua TB New Decoration Material Co., Ltd. manufactures decorative plywood, cabinetwork board, and adhesive bonded panel.

Anhui Shanying Paper Industry Co., Ltd. manufactures and markets paper products including corrugated paper, paperboard, and paper boxes.  The Company sells its products domestically.

Ence Energia y Celulosa SA produces eucalyptus cellulose and renewable energy with forestry waste. The Company has two plants in Navia and Pontevedra (Spain), with a total pulp net capacity of 930,000 tons/year and an installed power capacity of 223MW. Ence also manages forests in Spain.

Dexco S.A. manufactures reconstituted wooden boards geared to both furniture manufacturers and housing segments. The Company produces wood panels and bathroom porcelain. Dexco serves customers in Brazil.

Guangdong Guanhao High-Tech Co., Ltd. manufactures and sells thermal paper, carbon free duplicate paper, and gelatin capsules. The Company also manufactures products such as printer paper, scientific instrumental log paper, and fax paper.

Guangdong Guanhao High Tech Co (600433 CH)

Yueyang Forest & Paper Co Ltd manufactures and markets a variety of paper products which include offset newsprint, pigment finishing offset paper, and paper pulp.

Shandong Bohui Paper Industrial Co., Ltd. manufactures and markets a variety of paper products. The Company's products include stationery paper, offset printing paper, and paperboard.

Qifeng New Material Co., Ltd. researches and develops, manufactures and sells decorative base paper. The Company's products include plain decorative base paper, printable decorative base paper, wear-resistant base paper and equilibrium base paper.

Shandong Huatai Paper Co., Ltd. manufactures and sells paper products, including writing paper, bathroom and facial tissue, paper towels, and folding cartons. The Company also manufactures chemicals, including alkalies, chlorine, and chloropropene.

Daio Paper Corporation is a paper, pulp, and paperboard manufacturer.  The Company produces general printing paper for magazines and catalogues, newsprint, office paper, corrugated materials, kraft liner, facial and toilet tissue, paper towels, and feminine hygiene products.  Daio Paper also produces adhesive papers.  The Company has operations in Japan, the United States, and Chile.

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