Daio Paper and Hokuetsu Corporation will adjust their mutual voting rights ratios to below 20%, establishing an equal capital relationship. They aim to increase combined operating income by 5 billion yen in fiscal year 2026.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","meta":{"Ticker":"","DATE":"","longName":"","company_name_ja":"","fullTimeEmployees":0,"address":"","phone":"","website":"","industry":"","sector":"","regularMarketPrice":0,"financialCurrency":"","marketCap":0,"fiftyTwoWeekLow":0,"fiftyTwoWeekHigh":0,"epsTrailingTwelveMonths":0,"epsForward":0,"bookValue":0,"totalRevenue":0,"OperatingIncome":0,"operatingMargins":0,"NetIncome":0,"profitMargins":0,"ebitda":0,"trailingPE":0,"forwardPE":0,"priceToBook":0,"returnOnEquity":0,"recommendationMean":0,"recommendationKey":"","targetMeanPrice":0,"numberOfAnalystOpinions":0,"analyst_earnings_data":"","dividendRate":0,"dividendYield":0,"payoutRatio":0,"totalEsg":0,"environmentScore":0,"socialScore":0,"governanceScore":0,"title":"","providerPublishTime":"","link":"","longBusinessSummary":"","longBusinessSummary_ja":"","quarterly_revenue":0,"quarterly_net_income":0,"quarterly_operating_profit":0,"enterprise_value":0,"company_officer_1_name":"","company_officer_1_title":"","company_officer_2_name":"","company_officer_2_title":"","company_officer_3_name":"","company_officer_3_title":"","company_officer_4_name":"","company_officer_4_title":"","company_officer_5_name":"","company_officer_5_title":"","company_officers_update_time":"","get_dividend_history_year1":0,"get_dividend_history_year2":0,"get_dividend_history_year3":0,"get_dividend_history_year4":0,"get_dividend_history_year5":0,"get_dividend_history_year6":0,"get_dividend_history_year7":0,"get_dividend_history_year8":0,"get_dividend_history_year9":0,"get_dividend_history_year10":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jir_stock_code":"3880","jir_company_name":"Daio Paper Corporation, Hokuetsu Corporation","jir_importance":"\u2605\u2605\u2605\u2605\u2606","jir_publication_date":"2026-03-18","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/03\/3880-20260318-01.pdf","jir_short_summary":"Daio Paper and Hokuetsu Corporation will adjust their mutual voting rights ratios to below 20%, establishing an equal capital relationship. They aim to increase combined operating income by 5 billion yen in fiscal year 2026.","jir_summary":"### Overview of the Deepening Strategic Business Alliance\nDaio Paper Corporation and Hokuetsu Corporation, based on the Basic Agreement on Strategic Business Alliance concluded on May 15, 2024, are working to enhance corporate value aiming for a combined operating income increase of approximately 5 billion yen in fiscal year 2026. This alliance aims to establish an equal capital relationship between the two companies and to expand the scope of specific initiatives. Both companies share recognition of challenges such as declining domestic paper demand, high raw material and fuel prices, and shortages of logistics drivers, and are promoting structural reforms and transforming their business portfolios.\n\n### Changes in Capital Relationship and Future Policy\nCurrently, Daio Paper's voting rights ratio in Hokuetsu Corporation is 1.4%, and Hokuetsu Corporation's voting rights ratio in Daio Paper is 24.8%, but after implementing their respective transactions, both will be adjusted to below approximately 20%. Daio Paper is expected to be excluded from Hokuetsu Corporation's equity-method affiliates. Both companies have agreed not to transfer or additionally acquire each other's shares without the written consent of the other party. In the medium term, they plan to reduce the voting rights ratio to around 5\u201310%, with specific methods and timing to be determined through future discussions.","jir_financial_highlights":"Operating Income Increase Target: Approximately 5 billion yen (Unknown)\nDaio Paper's Voting Rights Ratio in Hokuetsu Corporation: 1.4% \u2192 Below approximately 20% (Increase)\nHokuetsu Corporation's Voting Rights Ratio in Daio Paper: 24.8% \u2192 Below approximately 20% (Decrease)","jir_category":"","jir_hashtags":"#DaioPaper, #HokuetsuCorporation, #M&A, #CapitalAlliance, #JapaneseStocks","jir_key_figures":"Operating Income Increase Target: Approximately 5 billion yen (Fiscal Year 2026)\nDaio Paper's Voting Rights Ratio in Hokuetsu Corporation: Planned increase from 1.4% to below approximately 20%\nHokuetsu Corporation's Voting Rights Ratio in Daio Paper: Planned decrease from 24.8% to below approximately 20%","jir_meta_title":"Daio Paper and Hokuetsu Corporation Aim to Increase Operating Income by 5 Billion Yen through Equal Capital Partnership","jir_meta_description":"Daio Paper Corporation and Hokuetsu Corporation have deepened their strategic business alliance by adjusting their mutual voting rights ratios to below approximately 20%, aiming to increase combined operating income by 5 billion yen in fiscal year 2026.","jir_og_title":"Daio Paper and Hokuetsu Corporation Deepen Strategic Business Alliance","jir_og_description":"The two companies announced a strategic business alliance to establish an equal capital relationship and aim for a 5 billion yen increase in operating income in fiscal year 2026.","jir_og_image_url":"\/assets\/og\/company-general_ir.jpg","jir_chart_data_collection":"[]","ir_related_company":9192,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"m_and_a_alliance","footnotes":""},"sector":[],"importance":[],"class_list":["post-35330","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n