Displaying items by tag: Japan

Russia/Uzbekistan: The US Department of State has imposed sanctions upon USM Holding including its subsidiaries Akkermann Cement and USM Cement in Russia, and Akhangarancement in Uzbekistan. The action is intended to target company owner Alisher Burhanovich Usmanov and his various business interests. Other USM companies in the iron, steel, copper, gold, telecommunications and real estate sectors are also affected.

The US Department of the Treasury’s Office of Foreign Assets Control noted that Usmanov was, “one of Russia’s wealthiest billionaires, with vast holdings across multiple sectors of the Russian Federation economy as well as internationally.” It added that he was linked to multiple senior Russian officials, including Russian President Vladimir Putin as well as Dmitry Medvedev, current Deputy Chairman of the Security Council of Russia and former President and Prime Minister of Russia. Usmanov has also been sanctioned by Australia, Canada, the European Union (EU), Japan, New Zealand, Switzerland and the UK.

These latest US sanctions are in response to the Russian invasion of Ukraine in February 2022. Companies on the sanction list are forbidden to conduct business transactions with any US citizens.

Akkermann Cement operates two cement plants and a network of 12 terminals in Russia. It acquired a majority stake in Uzbekistan-based Akhangarancement in early 2022.

Japan: Mitsubishi Heavy Industries (MHI) and Osaka Gas have launched a collaboration to develop a value chain for captured CO₂ from Japan's hard-to-abate industries, including the cement sector. JCN Newswire has reported that their collaboration will leverage MHI's expertise in CO₂ capture, liquefied CO₂ maritime vessel transport and CO₂ management, and Osaka Gas' expertise in e-methane production and CO₂ storage. The project will integrate MHI and IBM Japan's CO₂nnex software platform to model value chains. The project aims to contribute to the realisation of Japan's target of net zero CO₂ emissions by 2050.

Japan: Sumitomo Osaka Cement will launch its new sustainability committee on 1 April 2023. The committee will promote initiatives to reduce the producer's CO2 emissions and help it to 'realise a decarbonised society.' The new committee will operate alongside Sumitomo Osaka Cement's existing corporate social responsibility (CSR) committee, which has been in operation since April 2020.

Japan: Taiheiyo Cement has obtained a Transition-Linked Loan, the first of its kind in the Japanese cement industry. The loan employs sustainability performance targets (SPTs) based on the company's 2030 interim sustainability targets and 2050 Carbon Neutral Strategy. The former consists in a 40% reduction in its total CO₂ emissions, including Scope 3, and a 20% reduction in its Scope 1 and 2 CO₂ emissions, between 2000 and 2030.

Japan: Taiheiyo Cement recorded a net loss of US$135m during the first nine months of its 2023 financial year, compared to a net profit of US$226m during the first nine months of the 2022 financial year. Nikkei Financial News has reported that the group lowered its financial forecast for the full 2023 financial year accordingly. Taiheiyo Cement now expects to record a loss of US$199m, compared to a US$221m profit in the 2022 financial year. The producer previously revised its earnings and profit forecasts downward following its first-half 2023 financial year results on 10 November 2022.

During the first nine months of the 2023 financial year, Taiheiyo Cement recorded sales of US$4.58bn, up by 14% year-on-year. The producer said that new US acquisitions during the year so far helped it to increase its cement volumes in that market.

Japan: Sumitomo Osaka Cement recorded sales of US$1.15bn during the first nine months of the 2023 financial year. The figure corresponds to an increase of 9.9% year-on-year from nine-month 2022 financial year levels. The producer made a loss of US$13m, compared to profit of US$63.3m in the corresponding period of the 2022 financial year.

Japan: Mitsubishi Heavy Industries (MHI) has won an Award for Excellence at the 41st Nikkei Excellent Products and Services Awards for its carbon capture system. It was among eight industrial products to win the award for the year. The panel of judges selected MHI's system for its compact and versatile module configuration, which shortens installation and transport times.

MHI's model has been in industrial operation since June 2022, when MHI inaugurated its first system at Taihei Dengyo Kaisha's Seifu Shinto biomass power plant. The technology is now in operation or under implementation at cement plants in Japan and overseas. Most recently, MHI secured a carbon capture contract with a UK cement plant, Hanson's Padeswood plant, in mid-December 2022.

Japan: Sumitomo Osaka Cement has started using electricity generated from biomass to power its head office in the Shiodome Sumitomo Building in Tokyo. The electricity is generated at the company’s company's Tochigi biomass power plant in Sano and then fed into the general grid. The cement producer and the country are using a feed-in-tariff (FIT) non-fossil energy certificate system to track the use of electricity generated from non-fossil fuel generated sources.

Japan: Taiheiyo Cement’s sales in the first half of its financial year to 30 September 2022 rose by 10.6% year-on-year to US$2.57bn from US$2.32bn in the same period in 2021. Its reported an operating loss of US$2.14m compared to a profit of US$176m previously. Its domestic and export sales volumes of cement fell by 0.5% to 6.56Mt and 27% to 1.41Mt respectively.

By region the group said that, although demand was consistent for its business in the western US, sales volumes fell due to poor weather. In China sales volumes dropped to the effects of the country’s zero coronavirus policy upon the market. Sales decreased in Vietnam, partly due anti-dumping duties imposed by the Philippines upon imports.

Japan: Sumitomo Osaka Cement’s operating revenue grew by 7.5% year-on-year to US$657m for the half of its 2023 fiscal year, covering the six-month period to 30 September 2022, compared to US$612m in the same period in its 2022 fiscal year. However, rising costs led to the company reporting an operating loss of US$41.9m compared to an operating profit of US$35.6m previously. Its pretax loss was US$37.7m compared to a pretax profit of US$47.9m. Sumitomo Osaka Cement recorded an overall net loss of US$20m, compared to a net profit of US$41.5m in the first half of the 2022 financial year.

The company expects to record net revenues of US$1.42bn across the entire 2023 fiscal year, with a net loss of US$4.1m. This indicates that it has forecast performance to improve significantly over the next six months.