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September 30, 2024

Mitsubishi Materials Corporation

Notice Concerning Transfer of Shares of Consolidated Subsidiary

Mitsubishi Materials Corporation ("MMC") today transferred all of its shares of New Energy Fujimino Co., Ltd. ("NEFC"), a consolidated subsidiary of MMC, to Terrarem Group Co., Ltd.

NEFC processes food waste from food factories, retail stores, and other food-related businesses, generates electricity using the resulting biogas, and sells the electricity through a Feed-in Tariff (FIT) system for renewable energy. MMC is promoting the expansion of its Renewable Energy business and has decided to transfer NEFC in order to concentrate management resources on hydropower generation, solar power generation, wind power generation, and geothermal power generation. The main focus will be geothermal power generation business as it allows us to better demonstrate its strengths.
Terrarem Group, which has a business with a strong affinity to NEFC, has been selected as the transferee based on the judgment that operating its business under Teralem Group will contribute to the future growth of NFEC.

MMC will continue to expand its business to create renewable energy that is equivalent to our power consumption.

Overview of NEFC
(1) Name
New Energy Fujimino Co., Ltd.
(2) Address
1033-1 Komabayashi, Fujimino-shi, Saitama
(3) Title and Name of Representative
CEO Yasunari Amagai
(4) Business Details
Biogasification business for food waste,
Power generation sales business
(5) Share Capital
￥100 million
(6) Date of Establishment
May 30, 2018
(7) Number of Employees
6
(8) Shareholders and Shareholding Ratio
Mitsubishi Materials Corporation 98.88%
Ichikawa Kankyo Engineering Co., Ltd. 0.90%
(Operating company of Terrarem Group)
Co-opdeli Consumers' Co-operative Union. 0.11%
Co-op Mirai 0.11%
(9) Planned Throughput
Food waste: 40 tons/day
(10) Power Generation Output
550kW
Overview of Terrarem Group
(1) Name
Terrarem Group Co., Ltd.
(2) Address
Shinkawa F Building, 2-5-2 Shinkawa, Chuo-ku, Tokyo
(3) Name and Title of Representative
CEO Shigeo Mizutani
(4) Business Details
Resource recycling business, CO2 reduction business, Solutions business, Facility maintenance business
(5) Date of Establishment
April 3, 2017

<Contact details for inquiries>

Corporate Communications Dept.
+81-3-5252-5206

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