Oji Green Resources Co. Ltd. and Mitsubishi Paper Mills Limited announced that the companies have agreed to form a joint venture for the purpose of biomass power generation business and install a biomass power plant in the area of the Hachinohe mill of Mitsubishi Paper. The new company will install a biomass power plant in the area of the Hachinohe mill of Mitsubishi Paper (Hachinohe City, Aomori Prefecture). The operation and maintenance of the power plant will be contracted to Mitsubishi Paper and the procurement service of biomass fuel will be mainly provided by Oji Green Resources. The electricity generated will be sold to electric power companies on the basis of Feedin Tariff scheme for renewable energy. The business is scheduled to commence in June 2019. The new company name is MPM Oji EcoEnergy Co. Ltd. and investment ratio is Oji Green Resources 55%, Mitsubishi Paper 45%.

Satoshi Takuma has been appointed as CEO of MPM Oji EcoEnergy Co. Ltd., a joint venture company of Oji Green Resources Co. Ltd. and Mitsubishi Paper Mills Limited.