The following release was issued jointly by Tosoh Corporation, Idemitsu Kosan Co., Ltd., Tokuyama Corporation, NIPPON STEEL Stainless Steel Corporation, and Zeon Corporation
Tokyo, Japan—Idemitsu Kosan Co., Ltd., Tosoh Corporation, Tokuyama Corporation, NIPPON STEEL Stainless Steel Corporation, and Zeon Corporation jointly submitted a request for consultation to the Japan Fair Trade Commission (JFTC) regarding cooperative activities by the consortium—each member of which has operations at the Shunan Industrial Complex—to achieve carbon neutrality at the complex. The JFTC deemed that the joint activity posed no issues under Japan’s Antimonopoly Act.
The proposed joint activities include the exchange of information among the five companies in the consortium with the aim of establishing a carbon-free ammonia supply system with a capacity exceeding one million tons per year by 2030, which is currently being promoted by the consortium, as well as a collaborative investigation into the consolidation of facilities for use in power generation and other activities by 2050. The project further covers joint activities related to comprehensive efforts to achieve the carbon neutrality of the industrial complex, including conversion to bio basic chemicals made using biomass, resource recycling such as recycling of used plastics, and carbon capture, utilization, and storage (CCUS), which are currently under consideration in the Shunan area. In response to the request, in addition to stating it did not believe the proposal posed any issues, the JFTC also expressed the opinion that unusual blocking measures—such as the formation of a “clean team”—would not be necessary, as the companies in the consortium should be free to hold discussions on and consider this new area of carbon neutrality in a prompt and effective manner.
The Shunan Industrial Complex, under the leadership of Shunan City, established the Shunan Industrial Complex Decarbonization Promotion Council in conjunction with The Society of Chemical Engineers, Japan (SCEJ) in January 2022. Industry, government, and academia are collaborating to achieve a carbon neutral industrial complex by 2050 by fully leveraging existing facilities and industrial infrastructure. In May 2023, the Council announced the Shunan carbon neutral Industrial complex scheme and Shunan Industrial Complex carbon neutral roadmap toward the realization of carbon neutrality by 2050.
The five companies in the consortium determined that, in bringing the scheme to fruition, it would be necessary to conduct a more in-depth joint study. Based on the guidelines published by the JFTC in March 2023, “Guidelines Concerning the Activities of Enterprises Toward the Realization of a Green Society Under the Antimonopoly Act,” the consortium consulted with the Commission.
The JFTC and the Ministry of Economy, Trade and Industry (METI) responded positively to the consultation as a meaningful initiative toward achieving decarbonization and bolstering industrial competitiveness, and the Commission carefully examined the Antimonopoly Act from numerous perspectives based on information provided by businesses and METI, to ensure that the act would not impede the joint effort. This will help to push forward efforts to realize carbon neutrality by 2050, including discussions on establishing a carbon-free ammonia supply system with a capacity exceeding one million tons per year at the Shunan Industrial Complex by 2030.
Through this collaborative undertaking, the five companies intend to integrate the promotion of fair, free competition and the greening of industrial complexes in the Shunan area, while contributing to the realization of a carbon-neutral society.
Overview of the Shunan Industrial Complex Decarbonization Promotion Council
Shunan City website: Shunan Industrial Complex Decarbonization Promotion Council
Japan Fair Trade Commission Press Release
Consultation case related to joint activities aiming to achieve carbon neutrality by constituent enterprises of a petrochemical complex.
TOSOH CORPORATION
Who We Are
Tosoh Corporation is the parent of the Tosoh Group, which comprises over 100 companies worldwide and a multiethnic workforce of over 14,000 people. It generated net sales of ¥1,064.4 billion (US$7.9 billion at the average rate of ¥135.5 to the US dollar) in fiscal 2023, ended March 31, 2023.
What We Do
Tosoh is one of the largest chlor-alkali manufacturers in Asia. The company supplies the plastic resins and an array of the basic chemicals that support modern life. Tosoh’s petrochemical operations supply ethylene, polyethylene, and functional polymers, while its advanced materials business serves the global semiconductor, display, and solar industries. Tosoh has also pioneered sophisticated bioscience systems used for monitoring life-threatening diseases. In addition, Tosoh demonstrates its commitment to a sustainable future in part by manufacturing a variety of eco-products.
Stock Exchange Ticker Symbol: 4042
DISCLAIMER
This document may contain forward-looking statements, including, without limitation, statements concerning product development, objectives, goals, and commercial introductions, which involve certain risks and uncertainties. Forward-looking statements are identified through the use of the word anticipates and other words of similar meaning. Actual results may differ significantly from the results expressed in forward-looking statements.