Hokuetsu Corporation · TSE:3865

Hokuetsu — Hokuetsu Paper Mills — Investor Presentation (May 2008)

14 slides from Hokuetsu's investor presentation, May 15, 2008

  1. Slide 1: Value up 10

    Value up 10 2008 5 15 All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd.

  2. Slide 2: Agenda

    V 10 A ( ) Page 3 Page 4 Page 5 Value up B ( ) Page 6 Page 7 Page 8 Page 9 1. Page 10 2. Page 11 4. Page 12 Page 13 All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 2

  3. Slide 3: Jump 100

    Jump 100 S-21 J-100 V-10 1,500 1,346 NIIGATA N9 1,301 1,312 1,400 1,266 4.3% 1,236 4.2% 4.2% 1,197 4.1% 1,300 4.1% 1,200 3.9% 326 333 341 2010 1,700 305 313 2.8% 1,100 303 2.7% 2.8% 2.5% 2.6% 1,000 2.5% 900 35 800 953 976 979 1,005 894 931 700 5.1% 5.2% 5.1% 5.2% 07-02 07-02 4.8% 5.1% 600 500 37.5 2

  4. Slide 4: Jump

    Jump 100 (10 ) ( ) 200 1,700 180 1,727 170 1,590 160 1,512 1,537 1,476 1,422 140 125 125 120 101 100 92 79 80 72 60 40 20 0 All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 4

  5. Slide 5: J-100 S-21 J-100

    19 2 350 2,200 300 4 On line coated MC 1,100 1,000 250 970 200 860 150 840 100 770 760 50 750 0 710 2006 5 4 J-100 S-21 J-100 V-10 Base All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 5

  6. Slide 6: Value up

    Value up 10 J-100 1,200 V-10 J-100 All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 6

  7. Slide 7: Value up

    Value up 10 All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 7

  8. Slide 8: Value up vs 2007

    V 10 2010 150 v s 2007 79 ” 71 ” 70 105 20 30 100 6 150 100 50 0 50 100 150 All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 8

  9. Slide 9: Value up

    Value up 10 2 33 44 All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 9

  10. Slide 10: V OEM

    V 10 06 5 : 08 : / 110 70 100 OEM 20 S B 120 350 All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 10

  11. Slide 11: Niigata Mill

    V 10 20 10.7m 1,600m/ / / ( Niigata Mill 33 All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 11

  12. Slide 12: V All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd.

    V 10 08 4 33 All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 12

  13. Slide 13: J-100 V-10

    J-100 2.4%/ V-10 2,000 16 15 V-10 IR All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 13

  14. Slide 14: All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd.

    All Rights Reser ved, Copyr ight 2008 Hokuetsu Paper Mills, Ltd. 14

Hokuetsu Paper Mills — Investor Presentation (May 2008) on 6ix