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- Mitsui & Co., Ltd.
Corporate Communications Division
Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) is engaged in a geothermal resource exploration project in the Matsuo-Hachimantai area of Iwate Prefecture through Iwate Geothermal Power Co., Ltd. ("Iwate Geothermal", Head Office: Hachimantai City, Iwate Prefecture, President and CEO: Motohisa Mizuta), in which Mitsui Oil Exploration Co., Ltd. ("MOECO", in which Mitsui holds a 74.261% stake, Head Office: Tokyo, President & CEO: Mitsuo Hidaka) holds a 28.86% stake. This project has now been selected for a liability guarantee by Japan Oil, Gas and Metals National Corporation (JOGMEC), which covers finance raised for future development activities.
As a result of this decision, MOECO will proceed with this project toward the commercialization of a 7,000 kW geothermal power generation scheme in collaboration with the other shareholders of Iwate Geothermal.
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This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.