Mitsubishi Paper Mills Reports on Business Effects of Earthquake
Dusseldorf, Germany 22 March 2011 -- Following the earthquake and tsunami in Japan on 11 March 2011, Mitsubishi Paper Mills Ltd. (MPM) established the Disaster Management Headquarters at its Tokyo head office under Kunio Suzuki, president and CEO of the company. Since then, MPM has worked to identify damage affecting bnusiness operations. Now MPM has an overview of the damage and established the Revival Management Headquarters, headed by Suzuki, as of 22 March. Kazuo Nakase, senior executive director, and Fukumi Kanehama, head of Hachinohe mill, were assigned as the deputy heads. MPM appreciates the understanding of customers, suppliers, and other stakeholders for the situation and inconvenience. 1. Human injuries and loss As noted in the an announcement on 14 March, six subsidiary employees were injutred. No other casualties of MPM employees and group company employees were reported. 2. Status of production sites Hachinohe mill (Hachinohe city, Aomori prefecture)
Kitakami Division (Kitakami HiTech Paper Co., Kitakami City, Iwate Prefecture)
Shirakawa plant (Nishigou, Nishishirakawa County, Fukushima Prefecture)
3. Status of product inventory Product inventory at Hachinohe mill was flooded by the tsunami and damaged by the earthquake. The total damage of the inventory is still under investigation. Inventory in warehouses in the Kitakami, Sendai, and Kanto areas also suffered from the earthquake; however, the damage was minor and limited. 4. Impact on earnings Damage by the earthquake is still under investigation. If the forecasts need to be modified, MPM will disclose it separately. 5. Impact on German operations MPM’s damage situation is not immediately affecting Mitsubishi Paper Holding (Europe) GmbH and its related companies (Mitsubishi HiTec Paper Europe GmbH, Bielefeld, and Mitsubishi Paper GmbH, Düsseldorf). In case the companies’ performance is affected, a further announcement will be released.
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