#Japan #plastic recycling #Japan Green Investment #MM Plastic Co. #Futtsu

Japan Green Investment Corporation Backing MM Plastic's Recycling Project

The Japan Green Investment Corporation for Carbon Neutrality (JICN), led by President Yoshihiko Tayoshi, has officially decided to support the plastic recycling initiative spearheaded by MM Plastic Co. This announcement marks a significant milestone as it's the first public declaration of support for a domestic plastics resource recycling project in Japan.

Overview of the Project

1. Company Name: MM Plastic Co.
2. Headquarters: Futtsu City, Chiba Prefecture
3. President: Tsutomu Morimura
4. Established: April 2006
5. Shareholder: Terra Rem Group Co.
6. Business Purpose: Waste regeneration and commercialization
7. Implementation Status and Expansion Plans:

The project strictly follows the Container and Packaging Recycling Law established in 1995, which mandates the separation, collection, and recycling of plastic containers and packaging. The initiative aims to collect plastic waste from households through local governments and manufacture recyclable products such as pellets made from recycled plastics and logistics pallets.

In response to the increasing societal demand for resource recycling, MM Plastic plans to enhance its processing capabilities, aiming for a significant increase in the collection of containers and packaging plastics, targeting an additional 30,000 tons annually and expanding its production facilities accordingly.

Details of JICN's Support

1. Funding Structure: Subordinated loans and preferred equity
2. Total Funding Amount: 6 billion yen

Economic and Environmental Significance

1. Greenhouse Gas Emissions Reduction:

The support is in alignment with Japan's fundamental law establishing a circular society, prioritizing waste management strategies. These strategies focus on reducing generation, reusing, recycling, incinerating waste effectively, and finally, proper disposal of non-recyclable materials. This project plays a critical role in recycling, which is prioritized in effective waste management.

Approximately 60% of collected plastic waste in Japan ends up being incinerated, according to the Plastic Waste Management Institute (PWMI) in its 2023 report. This project aims to enhance the material recycling rate, thereby reducing the greenhouse gas emissions associated with both incineration and the production of virgin plastics.

2. Contributing to a Circular Economy:

Japan’s reliance on foreign energy resources poses geopolitical and price stability risks. By promoting the recycling of plastic products, the project is expected to decrease the imports of raw materials such as oil, contributing to national wealth preservation and bolstering economic security.

The project supports waste reduction and effective resource usage, contributing to the realization of a circular economy. Furthermore, it addresses the marine plastic waste problem, inclusive of microplastics, thereby aiding in biodiversity preservation.

By increasing recycling capacity with the new facility, this project aims to resolve regional issues such as the shortage of recycling operators that can handle the escalating amounts of collected plastic containers.

The upcoming facility is also expected to create job opportunities in the local community during its operation.

JICN reaffirms its commitment to fund diverse initiatives that contribute to carbon neutrality while collaborating with stakeholders to promote know-how, share information, and connect various innovative ideas and technologies for a sustainable future.

Additional Information

• - Company Overview of JICN:

- Company Name: Japan Green Investment Corporation for Carbon Neutrality (JICN)
- Representative Director: Yoshihiko Tayoshi
- Established: October 28, 2022 (Operational until the fiscal year ending in 2050)
- Capital: 65.15 billion yen (including 11 billion yen from private shareholders and 54.15 billion yen from national financial investments)
- Head Office: 7th Floor, Tokyu Toranomon Building, 1-21-19 Toranomon, Minato, Tokyo
- Website: www.jicn.co.jp