November 20, 2013

Mitsubishi Paper Mills, Ltd.

Mid-term Management Plan (Phase 2 Rolling Plan)

The Mitsubishi Paper Mills Group is currently implementing the First Mid-term Management Plan (from October 2011 to March 2015). In response to the severe damage that the flagship Hachinohe Mill sustained during the Great East Japan Earthquake, the Plan positions Phase 1 as a period for "reconstruction" and Phase 2 as a period for "strengthening our revenue base for growth." The Group is now undertaking Phase 2, having basically completed Phase 1. However, significant changes in the business environment have caused major discrepancies compared with the Plan's prerequisites. Deeming it necessary to respond immediately to these environmental changes, the Group announces that it has revised the Plan's Phase 2 strategies and basic targets. Details are as follows.

1. Name of the Revised Plan

First Mid-term Management Plan Phase 2 Rolling Plan

2. Period of the Plan

Phase 2 Rolling Plan: April 2013 - March 2016 (extended by one fiscal year) (Total period of the plan: four and half years from October 2011 to March 2016)

3. Business Themes in Phase 2 "strengthening our revenue base for growth"