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Press release content from Business Wire. The AP news staff was not involved in its creation.

Idemitsu Kosan Co.,Ltd. Has Established Idemitsu Americas Holdings Corporation to Accelerate the Development of New Projects to Involve Idemitsu Kosan With Leading Companies in the Americas

August 24, 2021 GMT
The building where the Idemitsu Americas Holdings office is located (San Jose, CA) (Photo: Business Wire)
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The building where the Idemitsu Americas Holdings office is located (San Jose, CA) (Photo: Business Wire)
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The building where the Idemitsu Americas Holdings office is located (San Jose, CA) (Photo: Business Wire)

SAN JOSE, Calif.--(BUSINESS WIRE)--Aug 24, 2021--

Idemitsu aims to be carbon neutral by 2050 for its own Scope 1 and 2 emissions, with staged replacements for its fossil fuel and basic chemicals businesses with next-generation fuels, materials, and circular business. Plans call for a portfolio evolution by developing business with ultra-compact electric vehicles and life support, as well as an expansion into leading-edge materials that can support next-generation manufacturing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210824005371/en/

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The building where the Idemitsu Americas Holdings office is located (San Jose, CA) (Photo: Business Wire)

Idemitsu Americas Holdings (IAH) Corporation is in San Jose, within Silicon Valley, where neighboring companies are world-scale innovators. In a move designed to bring Idemitsu’s plans for a future-facing portfolio evolution closer to reality, the Medium-Term Management Plan Revision announced in May calls for the conversion of oil refineries and industrial complexes into carbon-neutral transformation (CNX) centers. IAH is perfectly located to develop networks with business partners and identify potential projects.

Motohiro Suzuki, President and CEO for Idemitsu Americas Holdings Corporation said that it is critical to find potential partners when searching for innovative businesses. “Startups are a natural place to begin and by locating Idemitsu Americas Holdings Corporation in Silicon Valley, we believe that we are positioned to contribute to the realization of a sustainable society when we are able to work with leading-edge companies in the Americas known for their experience in energy and materials industries.”

Integral to its future, Idemitsu will take advantage of Idemitsu Americas Holdings Corporation’s work to create new value that will further our portfolio evolution.

Overview of Idemitsu Kosan Co.,Ltd.

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Company Name

Idemitsu Kosan Co.,Ltd.

Location

Tokyo

Business Description

Development, production and supply of fuels, basic chemicals, functional materials, renewable energy, and resources

Year Established

1940 (founded in 1911)

Capitalization

JPY 168.4 billion

Representative

Representative Director President and Chief Executive Officer

Shunichi Kito

Overview of Idemitsu Americas Holdings Corporation

Company Name

Idemitsu Americas Holdings Corporation

Location

San Jose, California

Business Description

Strengthening the operations of Idemitsu Kosan, Co., Ltd., for its group companies within the Americas and developing new projects

Year Established

2020

Capitalization

USD 1,500,000

Representative

President and CEO

Motohiro Suzuki

 

View source version on businesswire.com:https://www.businesswire.com/news/home/20210824005371/en/

CONTACT: Public Relations Section, Idemitsu Kosan Co.,Ltd.

https://www.idemitsu.com/contact/flow/index.html

Chihiro Hori (Ms.)

public.relations@idemitsu.com

KEYWORD: UNITED STATES JAPAN NORTH AMERICA ASIA PACIFIC CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES CHEMICALS/PLASTICS SMALL BUSINESS OIL/GAS MANUFACTURING ALTERNATIVE ENERGY ENERGY

SOURCE: Idemitsu Kosan Co.,Ltd.

Copyright Business Wire 2021.

PUB: 08/24/2021 01:00 PM/DISC: 08/24/2021 01:02 PM

http://www.businesswire.com/news/home/20210824005371/en