Japan: King Of Halving By Civil Strife Branch Paper Profit Declin
Japan media reports, King of paper was announced on August 14 in April 2012 ~ April ~ June with June merging accounts, to 96.1 billion yen in sales, down 4.2%, operating profit to 1.5 billion yen, down by 38.2%.
Previously President of huge borrowing event is raised for causes of civil strife between the management team and founders, connection subsidiaries decreased from 37 to 19 is the main reason.
In addition, due to the complete lines of funding cuts, ensured that after-tax profit of 300 million yen in 2011 with a loss of 1.2 billion yen.
Paper King decided on August 15 over the North Vietnamese State paper JI from founders bought the shares of the company, will join subsidiaries would recover to 37.King of paper in the future also plan to jointly established with North Vietnamese State JI Promotion Committee and future-oriented business merged into the specific stage of cooperation.