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- Mitsui & Co., Ltd.
Corporate Communications Division
Mitsui & Co., Ltd.("Mitsui")(Head Office:Tokyo, CEO: Masami Iijima) and Miyakojima-City(Mayor: Toshihiko Shimoji) concluded and signed a comprehensive collaboration agreement for establishment of a eco (low-carbon) based island and achievement of economic growth of the region on 16 September 2010.
Both parties will consider the establishment and business development of a smart community, effectively adopting renewable energy, including bio-ethanol, solar, wind power, and water resources and introducing home energy management and electric vehicles at the same time.
Miyakojima-City was selected as an "environmental model city" in January 2009 and declared its intention for a 73% reduction of CO2 emissions by 2050 compared with the total for 2003.
Miyakojima-City, under its vision of an "environmental model city", is planning to increase sugar-cane cultivation to produce bioethanol and use more electric vehicles and renewable energy. Envisaging the circulation of industry which also activates farmers' business as well, they are trying to introduce huge volumes of clean energy and encouraging the building of a South-East Asia type of "eco-house" which utilizes solar and heat panels, empowering eco-based tourism. In such a context, Mitsui and Miyakojima-City will accelerate realization of certain businesses through joint study of each theme.
Mitsui will propose a total solution, matching clean energy supply and energy demand of the entire island as a smart community by utilizingits experience and know-how of wind-power projects, mega-solar projects and biomass projects on-going all over the world.
Miyakojima-City announced the "Eco-Island Miyakojima Declaration" in March 2008 on the theme of the "united island of Miyako" where the residents are bound to each other by ties of friendship. The City is promoting the future vision of the island in which all elements of the island including the people, town and village, the beautiful sea and sky etc. are connected with each other and the ties of friendship shall sustain for the future in this island.
In its mid-term business plan, Mitsui declares its engagement in overseas infrastructure business such as power, water, transportation projects to achieve an industrial solution to environmental problems all over the world. Taking this opportunity to establish a certain business model in Miyakojima, Mitsui will announce and expand the frontier business all over the world in the field of environmental solutions such as renewable energy and smart grid.
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release 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.