Integrated Report 2022PDF List
Index
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【Introduction】 (PDF:2.2MB)
Index/Editorial Policy/Corporate Philosophy/Message from the President and CEO (PDF:985KB)/Midterm Corporate Strategy 2024/Special Feature Creating a New Future(Fostering New Industries/Regional Revitalization)/Review of Midterm Corporate Strategy 2021
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【The Value Creation Story】 (PDF:3MB)
Path of Value Creation/Value Creation Process/The Six Capitals/Focus Human Capital—The Source of Value Creation/Materiality/Focus Climate Change—Materiality Forming the Basis of EX Strategy/Message from the CAO (Chief Administrative Officer)/Message from the CFO
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【Value Creation by the Business Groups】 (PDF:2.7MB)
Business Groups at a Glance/Business Groups × Business Models
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【Initiatives and Systems Supporting Sustainable Value Creation】 (PDF:2.8MB)
Sustainability Promotion Framework/Risk Management/Corporate Governance
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【Data Section】 (PDF:2MB)
Directors and Audit & Supervisory Board Members/Executive Officers/Shareholder Information/Organizational Structure/Global Network(Countries and Regions)/Balance of Risk Money Outstanding in 13 Countries/Financial Highlights/Equity in Earnings of Subsidiaries and Affiliates/ESG Data/Corporate Information
Creating a New Future
(Fostering New Industries/Regional Revitalization)
MC’s Initiatives and Progress
Creating a New Future (Fostering New Industries/Regional Revitalization) represents an integral part of Midterm Corporate Strategy 2024. Toward this end, MC seeks to work with partners and local authorities to address challenges facing society and industry on the themes of
- (1) utilizing renewable energy and other local energy resources
- (2) creating new “Carbon Neutral (CN)” industries
- (3) developing vibrant communities by helping
to resolve regional issues
This Special Feature section highlights MC’s initiatives and progress.
Measures to build a national and
regional supply chain for offshore
wind power generation projects and
grow together with communities
to revitalize the local economy
Overview
MC was appointed as an operator for an offshore wind power generation project in the following three areas, under the Act on Promoting the Utilization of Sea Areas for the Development of Marine Renewable Energy Power Generation Facilities, through a consortium represented by Mitsubishi Corporation Energy Solutions Ltd.
Our Objective
MC aims to contribute to the realization of carbon neutrality by 2050 through offshore wind power generation projects, which are expected to play a key role in the shift to renewable energy as a main power source. Specifically, one of the main aims is to contribute to the growth and competitiveness of the industry in Japan and to create employment opportunities and revitalize the domestic and regional economy by building a broad and robust national and regional supply chain. While sharing our vision of supporting the realization of carbon neutrality in Japan with the people of each region, we also hope to contribute to the growth and competitiveness of the domestic industrial base as a whole through the supply of competitive renewable energy.
We have also worked with consortium member companies and exchanged opinions with various stakeholders in each region to develop measures for mutual growth that will help revitalize the region based on local needs such as building a sustainable fishery support system, promoting local industry and creating jobs, and supporting the livelihood of residents. Going forward, the consortium will collaborate with partners including Amazon.com, Inc., NTT Anode Energy Corporation, and Kirin Holdings Company, Limited, in the execution of these measures.
Initiatives to Build a National and Regional Supply Chain
Building a national and regional supply chain
In developing, constructing, and operating offshore wind power generation projects, we will cooperate with local governments and economic organizations, and work not only with prime contractors but also with local companies, ports, financial institutions and others to create new industries and employment.
Growing together with communities to revitalize the local economy
We seek to contribute to the entire community including the construction of a sustainable support system for the local fishing industry, creation of job opportunities and revival of local industries, and quality-of-life assistance for local residents.
Specific initiatives
Over the course of our work to develop, construct and operate/manage these projects, we aim to build national and regional supply chains that will help to improve Japan’s domestic production.
By holding business matching events and human resource development programs on a continuous basis, we aim to improve collaboration with regional enterprises.
- Concept Diagram
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Participation in Breakthrough
Energy Catalyst to accelerate
social implementation of innovative
decarbonization technologies
Overview
Speeding up social implementation of decarbonization businesses
MC has decided to invest in Breakthrough Energy Catalyst (BEC), a program dedicated to accelerating innovative decarbonization technologies. MC plans to invest $100 million in BEC, and in doing so will become the first company headquartered in Asia to make a commitment of this scale to the fund.
BEC was launched by Breakthrough Energy, which was founded by Bill Gates in 2015 and dedicated to investment and philanthropic activities concerning decarbonization. Its objective is to accelerate the social implementation of decarbonization technologies by investing in projects using technologies that have been proven through research and development. In addition to funding from private companies and philanthropic organizations, BEC will become a “catalyst” that organically links private sector and philanthropic funding, as well as support for green product offtake and support from government agencies. Through this, BEC aims to contribute to scaling up innovative decarbonization technologies on the cusp of commercialization that will be necessary to realize a carbon-neutral society.
Our Objective
Realization of a carbon neutral society
In our “Roadmap to a Carbon Neutrality Society” in October 2021, MC formulated both its GHG emissions reduction targets and EX investment guidelines. As a company involved in resources, energy and many other businesses, MC is committed to the shared global challenge of achieving carbon neutrality. In addition to our renewable energy business, we have begun to study the introduction of next-generation energy sources such as hydrogen, ammonia, and methanation. We recognize that the use of new technologies and innovation is essential for the transition to and realization of a carbon neutral society.
Supporting the development of innovative technologies
By participating in BEC, we intend to support the development of innovative technologies that support the realization of a carbon neutral society and further reducing environmental impact without compromising the security and convenience of people’s daily lives. We will capitalize on our knowledge and network to collaborate with other participating companies active in various fields such as steel, aviation, finance, energy etc., and contribute to the transition to and realization of a carbon neutral society.
Key Areas
- Overview of Breakthrough Energy
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4 key areas
Currently, the key areas for BEC are (1) clean hydrogen, (2) long-duration energy storage, (3) sustainable aviation fuels and (4) direct air capture. In the future, we envisage that the scope will expand to include other technologies important for the promotion of decarbonization. MC also considers these technologies vital to its own EX Strategy and Roadmap to a Carbon Neutral Society.
- Breakthrough Energy overview
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- Year of Establishment
- 2015
- Headquarters
- Seattle, Washington, USA
- Business
- Founded by Bill Gates, Breakthrough Energy believes innovation is the answer to the climate crisis. With support from a global network of partners, Breakthrough Energy leads groundbreaking initiatives dedicated to funding, developing, commercializing, and scaling the decarbonization technologies that will be necessary to avoid a climate disaster.
- Breakthrough Energy Catalyst overview
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- Year of Establishment
- 2021
- Headquarters
- Seattle, Washington, USA
- Business
- Breakthrough Energy Catalyst brings together governments, businesses, and innovators to move promising climate technologies – including clean hydrogen, direct air capture, long-duration energy storage, and sustainable aviation fuels – to global commercial scale, fast.
Fast paced social implementation through collaboration with partners
Establishment of new Industry DX Group
In addition to conducting EX and DX initiatives independently, MC plans to work on the creation of new industries and regional revitalization through integrated EX and DX leveraging our collective capabilities. MC has many physically based businesses that require DX-driven solutions. By providing DX functions to these businesses, we will optimize logistics and improve productivity, increase business value, and contribute to the development of the industry as a whole and the realization of vibrant local communities. In order to accelerate this DX strategy, we established the new Industry DX Group on July 1, 2022.
Shaping the future with digital by capitalizing on MC’s collective capabilities
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Digital Development Department
■ DX service business ■ DX business development
Our aim is to expand business as DX enablers while helping to promote the MC Group’s DX initiatives and achieving results through the provision of DX functions. Based on these efforts, we will expand DX service businesses that lead to new business development opportunities and investments, and enhance the value of entire industries. We will also contribute to addressing societal challenges through commercialization of next-generation technologies and cross-industry collaboration schemes.
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Power & Community DX Department
■ Development of B2C customer base and regional revitalization businesses
Our department promotes the development and provision of retail services for consumers by generating synergy between MC Group’s products and networks. We aim to add value by fusing physical and digital solutions and combining them with existing services such as electric power supply. We also strive to create independent, decentralized communities that both address regional challenges and revitalize the local economy by providing community-based services.
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Industry Value Chain DX Department
■ Utilizing DX to develop efficient B2B operations businesses
Our aim is to develop solutions that help address operational challenges that industries and companies face, and to provide those solutions as a platform. We will also promote the development of, and collaborations with, partner companies that have the necessary technologies for achieving this aim. As a major target, we will first focus our efforts on developing businesses in the field of logistics and mobility.
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Service Industry DX Department
■ Utilizing DX to develop B2C service businesses
Leveraging touch points with local governments and residents, Service Industry DX Dept. develops digital services in the finance and real estate areas, including creation of new business model based on FinTech. We collaborate extensively with partners both within and outside the MC Group as we aim to create core businesses that will become pillars for the future growth of the MC Group.
Conclusion of partnership agreement on regional development with Kurashiki City
Under Midterm Corporate Strategy 2024 – Creating MC Shared Value – that was announced in May 2022, we will utilize integrated EX and DX initiatives to promote regional revitalization. MC is now working to revitalize regions and build independent, distributed communities that provide vibrant and convenient living environments.
MC and Kurashiki City partnership agreement on regional development
The authorities in Kurashiki City have been promoting a local development plan that seeks to enhance the municipality’s functions in ways that will benefit both its residents and the natural environment, resulting in quality of life that is sustainably safe and eco-sensitive. The proactive plan involves local-industry work to revitalize existing sectors and create new ones, efforts to meet the UN’s sustainable development goals (SDGs), and the application of digital technologies to develop next-generation systems and infrastructure. MC and Kurashiki City signed this collaborative research agreement that will explore a variety of cuttingedge advances designed to develop and revive local communities.
- Scope of Our Collaboration
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- Revitalization of local industry through digitalization
- Application of data-connection platforms aimed at realizing the vision of Digital Garden City Nation
- Enhancement of public services through use of digital technologies in mobility, infrastructure and other sectors
- Realization of a local sustainable energy society
- Other local development and revitalization work
- Specifics of Joint Research Initiative Between MC and Kurashiki City
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