Oji Paper Co. said Monday that it will set up a joint firm with three of its group companies to integrate sales of corrugated cardboard components and improve delivery times.
The major papermaker said it will establish a new company in July next year with Takasaki Sanko Co., Chuo Paper Board Co., and Hokuyo Paper Co. with a capital of about 600 million yen.
Oji will hold a 51 percent stake.
The new company, Oji Itagami Co., will integrate all corrugated cardboard component sales at the four firms. Annual sales of around 130 billion yen are expected.
The four produce 2.87 million tons of lined paper and corrugated medium a year for combined sales worth 124.3 billion yen.
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