Conclusion of Joint Collaboration Agreement on Biomaterial Business in Brazil

Jan. 16, 2024

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has concluded a Joint Collaboration Agreement with Suzano S.A. ("Suzano", Head Office: Sao Paulo), the world biggest pulp producer, concerning a joint study on the manufacture and sales business of biomaterials and derivatives, such as biofuels.

Suzano's forest resources are the world's largest, covering an area of 2.6 million hectares, which is equivalent to about 12 times the area of the Tokyo Metropolis. It plants trees, develops its own forests, and operates a sustainable business based on pulp and other products manufactured using its resources from planted-trees. Mitsui and Suzano will create a new market by jointly manufacturing and selling forest-derived biomaterials and biofuels (low-carbon methanol, bioethanol, etc.) by combining Suzano's highly competitive forest resources business with the business networks and customer assets that Mitsui has built up over many years in such areas as energy and chemicals.

In line with the theme of "Creating Sustainable Futures" set forth in Mitsui's Medium-term Management Plan 2026, Mitsui invested in New Forests Pty Limited ("NF", Head Office: Sydney, Australia), the world's second largest forest asset management company and the biggest in the Asia/Oceania region, in 2016, and it became NF's leading shareholder in 2023, and has focused on the expansion of Mitsui's forest resources business.

Under the Joint Collaboration Agreement with Suzano, Mitsui will pursue the commercial production and promotion of renewable and environment-friendly biomaterials and next-generation biofuels made from forest resources. Through this initiative, Mitsui will continue to work toward the realization of a society with net-zero greenhouse gas emissions and the establishment of a circular economy, and thereby contribute to the creation of a new decarbonized future.

Company Profile

Name Suzano S.A.
Address Av. Professor Magalhães Neto, 1,752 - 10th floor, rooms 1009, 1010, and 1011
Salvador - BA - Brazil
Established 1924
Representative Walter Schalka (Chief Executive Officer)
Employees Approx.40,000 (as of the end of 2022)
Business activities Comprehensive forest resources business centered on the manufacture of pulp from broadleaf eucalyptus trees
Website URL

Suzano - Home

Suzano's extensive forest resources (Eucalyptus plantation)Suzano's extensive forest resources (Eucalyptus plantation)
Suzano's Eucalyptus nurserySuzano's Eucalyptus nursery

Mitsui’s Materiality

“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Secure sustainable supply of essential products” and “Enhance quality of life” and “Create an eco-friendly society”

  • Secure sustainable supply of essential products

    Secure sustainable supply of essential products

  • Enhance quality of life

    Enhance quality of life

  • Create an eco-friendly society

    Create an eco-friendly society

  • Develop talent leading to value creation

    Develop talent leading to value creation

  • Build an organization with integrity

    Build an organization with integrity