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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Toshiba Corporation    6502   JP3592200004

TOSHIBA CORPORATION

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Toshiba Corporation - Six Companies to Start Studying Carbon Recycling Business Models

12/02/2020 | 09:26am EST

Toshiba Energy Systems & Solutions Corporation, Toshiba Corporation, Toyo Engineering Corporation, Idemitsu Kosan Co. Ltd., All Nippon Airways Co., Ltd. and Japan CCS Co., Ltd. have reached an agreement to begin reviewing recycling business models for reuse of CO2 from sources such as exhaust gases into Sustainable Aviation Fuel (SAF1) via Power-to-Chemicals (P2C2) processes, using technologies developed by Toshiba Corporate Research & Development Center which convert carbon dioxide (CO2) to carbon monoxide (CO) through electrolysis 3.

These reviews will identify challenges and future business models leveraging each company's expertise, technologies, and plant facilities for supply chains that will deliver SAF. Specifically, the companies will review the possibilities for streamlined SAF supply chains from upstream to downstream, using renewable energy and hydrogen to produce SAF out of CO2 which is separated and captured from sources such as exhaust gases of industrial emitters, and subsequently supply this fuel for flights in aviation.

Various eco-friendly innovations will be needed to achieve the CO2 emissions reduction targets indicated in Japan's Nationally Determined Contribution4 for the Paris Agreement. These include separation, storing and recycling CO2, making renewable energies into mainstream power sources, expanding the use of hydrogen, and decarbonization of fuels. In the aviation industry, the International Civil Aviation Organization (ICAO) has also defined CO2 emissions reduction targets in its Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), and strongly urges stable production and supply of SAF since using it in aviation is one effective means of meeting these targets. With its high CO2 emissions reduction capability, the P2C process offers great potential as a next-generation technology for producing SAF out of CO2.

These companies will be jointly reviewing future SAF supply chain business models, with the aim of realizing a sustainable society.

SAF: Sustainable Aviation Fuel (jet fuel produced from sustainable supply sources with low-CO2 emissions in the process from the production and sourcing to the combustion of materials and substances)

P2C: Power-to-Chemicals is a carbon capture and utilization (CCU) and carbon recycling technology that uses renewable energy and renewable hydrogen energy to recycle CO2 by converting it into resources with high environmental value. P2C significantly contributes to the spread of renewable energy in addition to reducing CO2 emissions.

Nationally Determined Contribution (NDC): Greenhouse gas emissions reduction targets determined by each country, and mitigation efforts to achieve those targets. Japan submitted its NDC to the United Nations Framework Convention on Climate Change (UNFCCC) in March 2020.

Contact:

Tel: 1800 200 6768

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ANA HOLDINGS INC. 0.02% 2282 End-of-day quote.0.22%
IDEMITSU KOSAN CO.,LTD. -0.08% 2451 End-of-day quote.7.97%
TOSHIBA CORPORATION -0.97% 2951 End-of-day quote.2.29%
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Financials
Sales 2021 3 270 B 31 489 M 31 489 M
Net income 2021 80 035 M 771 M 771 M
Net cash 2021 96 238 M 927 M 927 M
P/E ratio 2021 17,3x
Yield 2021 1,10%
Capitalization 1 339 B 12 903 M 12 896 M
EV / Sales 2021 0,38x
EV / Sales 2022 0,37x
Nbr of Employees 125 648
Free-Float 93,4%
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 4 122,00 JPY
Last Close Price 2 951,00 JPY
Spread / Highest target 57,2%
Spread / Average Target 39,7%
Spread / Lowest Target 18,6%
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Managers and Directors
NameTitle
Nobuaki Kurumatani President, CEO & Representative Director
Satoshi Tsunakawa Chairman
Masayoshi Hirata Chief Financial Officer & Head-Accounting
Keiichi Yumita Head-Information Systems
Yutaka Sata Vice President-Research & Development
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