Japan Pulp & Paper acquired of all outstanding shares of Spicers Paper (Singapore) Pte Ltd and Spicers Paper (Malaysia) Sdn Bhd from Spicers Holdings (Asia)Pte Ltd, and authorizing conclusion of a share transfer agreement that will make both Spicers SG and Spicers ML into wholly owned subsidiaries of the Company. With the addition of these two companies, the Group’s network outside of Japan now extends to 97 operation sites in 22 countries across the globe. By maximizing the use of its world-class paper distribution network and advancing the development of its increasingly glocalized business activities, the Group will strive to improve the earning capacity of its Non-Japan Wholesale business.