TOKYO -- Oji Holdings will invest some 10 billion yen ($91.5 million) in Mitsubishi Paper Mills, lifting its 2.3% stake to 33% as Japan's top- and sixth-ranked papermakers deepen their alliance amid a shrinking market.
The deal announced Tuesday will make Mitsubishi Paper an equity-method affiliate of Oji. The additional investment is slated for completion between July 2018 and December 2019.
