On April 1, 2003, the Nippon Paper Group introduced a new organizational structure under which the paper business and the paperboard business the Group's two core operations were consolidated and reorganized under Nippon Paper Industries Co., Ltd. and Nippon Daishowa Paperboard Co., Ltd., respectively. The Nippon Paper Group, with Nippon Paper Industries Co., Ltd., Nippon Daishowa Paperboard Co., Ltd., and their 153 subsidiary companies and 50 affiliated companies under its banner, engages mainly in the manufacture and sales of pulp and paper. Group companies also are engaged in paper-related businesses, housing and construction materials, logistics, bottling and sales of soft drinks and other beverages, and other oper

