Toyota to Establish Afforestation Company with Nippon Paper Industries Co. and Mitsui & Co.

TOYOTA MOTOR CORPORATION (TMC; president: Hiroshi Okuda) today announced that it has decided to embark on an afforestation joint venture business with Nippon Paper Industries Co., Ltd. (president: Masao Kobayashi) and Mitsui & Co., Ltd. (president: Shigeji Ueshima). As the first step in these operations, TMC and Mitsui will jointly establish a new company, Australian Afforestation Pty. Ltd., on August 3rd. The new company will be located in Melbourne City, Victoria, Australia and will carry out afforestation operations for trees to be used for pulp and paper.