Decision to invest in commercial production equipment for oil chemical recycling using used plastic as raw material - Establishment of joint venture company "Chemical Recycle Japan Co., Ltd." with Kankyo Energy Co., Ltd. -

In recent years, efforts have been made to address issues such as marine plastic waste, climate change, and the tightening of waste import regulations in other countries, as well as the enactment of the Act on Promotion of Plastic Resources Recycling. The importance and social needs of further promoting plastic Resources circulation are increasing.
In Japan, of the approximately 8.2 million tons of used plastic each year, only about 20% is used for recycled products. More than 50% of used plastics are difficult to recycle, so they are incinerated as thermal recycling, resulting in large amounts of CO2 being emitted. As one solution to this issue, unprecedented and innovative chemical recycling technology is required.

In this project, the newly established Chemical Recycle Japan Co., Ltd. will use its own technology to produce oil from the collected used plastics, and will use our existing oil refining equipment and petrochemical equipment as a raw material to replace crude oil. Refined, decomposed, and polymerized to produce "renewable chemicals." Eventually, new plastic products will be produced by plastic product manufacturing companies using these renewable chemicals as raw materials.

The purpose of this project is to contribute to the realization of a recycling-oriented society and CO2 reduction by reusing plastic, which was previously incinerated as garbage, as a valuable Resources. This is a business that our company, which has been handling fossil fuels for many years and has been deeply involved in producing plastics derived from fossil Resources, should take responsibility for.We also believe that we can take advantage of our unique strengths as a company that has developed both oil refining and petrochemical businesses. We believe that this is a business that will continue to grow.
After establishing this business model in Chiba Complex area, we will install oil converting equipment at our group's Refineries/Complexes across Japan, and move forward with larger-scale business development targeting used plastics nationwide. I'm coming.

Of 3 business domains this project is positioned as an important initiative for provide for society of "Diverse resource conservation / circulation solutions."

*Company name changed from Ichikawa Kankyo Holdings Co., Ltd.