#SpecifiedSubsidiary

Japan Paper & Pulp Trading Co., Ltd. resolved a capital increase of NZD 29,000 thousand (JPY 2,668 million) in BJ Ball Limited, designating it as a specified subsidiary. The scheduled payment date is February 6, 2026.

We hereby announce that the fund "Juroku Business Succession Support No.2 Investment Limited Partnership" (total amount: 10 billion yen), established in August 2025, has become our specified subsidiary through our investment. The impact on consolidated results is minimal.