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    4004   JP3368000000

SHOWA DENKO K.K.

(4004)
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Showa Denko K K : Group Challenges to Realize Carbon Neutrality by 2050

08/02/2021 | 09:40am EDT

Showa Denko K.K. (SDK) (Tokyo: 4004) has decided to work on realization of carbon neutrality by 2050 as an embodiment of 'company that contributes to a sustainable global society,' which is stated in the Showa Denko Group's long term vision as the 'ideal state of newly integrated company.'

As countermeasures against climate change, Paris Agreement (adopted in COP21) and other global programs are in progress. In Japan, the Japanese Government has declared to aim to achieve carbon neutrality and revised national target for GHG reduction. Thus implementation of programs on carbon neutrality is expected to be accelerated worldwide.

With regard to the Showa Denko Group, the Group has been working on countermeasures against climate change including its endorsement of TCFD (Task Force on Climate-Related Financial Disclosures) in 2019.

The Showa Denko Group has been providing various products which contribute to sustainable development of global society. To contribute to sustainable development further, we recognize it is very important for us to reduce GHGs emitted from our production processes. Therefore, in our activities to achieve carbon neutrality, we will accelerate development and extension of the Group's production technologies. Furthermore, with regard to our plastic chemical recycling business, where we have already established certain level of technologies and commercialized them, we will develop new technologies taking carbon neutrality into consideration, and set 2030 as the target year for technology development. As a milestone, we set a target to make the Group's GHG emission 30% less than that in 2013 not later than 2030. We will revise our boundary, and together with Showa Denko Materials Co., Ltd. which SDK will integrate in 2023, the Showa Denko Group will realize GHG emission reduction through various measures including energy conservation, conversion of materials and fuels, and improvement in production efficiency resulting from upgrade of plant and equipment. The Group will announce progress in these measures via SDK's website which contains information about the Group's sustainability activities and Showa Denko Report (integrated report) which the Group publishes every year.

In order to promote its business activities to contribute to solution of social problems and achievement of SDGs, the Showa Denko Group will continue introducing environment-conscious production facilities and technologies, promoting environmental measures, and providing products which support realization of recycling-oriented society. Thus the Showa Denko Group will contribute to realization of carbon neutral society, and aim to become a company that contributes to a sustainable global society.

Contact:

Tel: 81-3-5470-3235

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 1 410 B 12 732 M 12 732 M
Net income 2021 -4 823 M -43,5 M -43,5 M
Net Debt 2021 815 B 7 361 M 7 361 M
P/E ratio 2021 -89,2x
Yield 2021 2,37%
Capitalization 490 B 4 426 M 4 424 M
EV / Sales 2021 0,93x
EV / Sales 2022 0,78x
Nbr of Employees 33 684
Free-Float 95,5%
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Number of Analysts 8
Last Close Price 2 744,00 JPY
Average target price 3 731,43 JPY
Spread / Average Target 36,0%
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Managers and Directors
Kohei Morikawa President, CEO & Representative Director
Motohiro Takeuchi CFO, Representative Director & Head-Accounting
Hideo Ichikawa Chairman
Hiroshi Sakai Director & Chief Technology Officer
Masaharu Oshima Independent Outside Director
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