Displaying items by tag: Sumitomo Osaka Cement

Japan: Sumitomo Osaka Cement started using an internal carbon pricing system for capital investments from January 2022. It is intended to create economic incentives for emission reductions and promote low-carbon investment. The starting price will be around Euro39/t of CO₂. The measure follows the company’s introduction of its 2050 carbon neutral goals and policies in late 2020.

Japan: Sumitomo Osaka Cement says it plans to raise the price of its cement-related products by 20% in April 2022. It has blamed this on rising raw material, energy and logistics costs.

Japan: Sumitomo Osaka Cement recorded consolidated first-half sales of US$790m in its 2022 financial year, down by 20% from US$993m in the first half of the 2021 financial year. Its cement sales were US$544m, down by 31% from US$784m. It exported 778Mt of cement, up by 33% from 594Mt in the first half of the 2021 financial year. Its domestic sales volume was 4.1Mt, up by 1.2% from 4.05Mt.

The group forecast full-year consolidated sales of US$1.65bn, down by 22% year-on-year from US$2.12bn.

Japan: Sumitomo Osaka Cement has secured an agreement with Hyogo Prefecture for the future reception and processing of the prefecture’s waste from disasters such as earthquakes. The company says that the agreement will facilitate the rapid reception of such materials and to best support clean-up efforts.

President Hironori Morohashi said “We will continue to strengthen our cooperative relationship with Hyogo Prefecture and work to form a sustainable society and develop and improve the region.”

Japan: Sumitomo Osaka Cement says it will raise the price of its cement from February 2022 due to rising coal and heavy fuel oil costs. It said that these mounting input prices were leading to ‘significant’ manufacturing and logistical overheads. The cement producer expects that these energy prices will remain high in the foreseeable future. It added that maintenance, labour and carbon neutrality goal costs were also growing.

Japan: Sumitomo Osaka Cement subsidiary Hachinohe Cement has announced that it will be receiving heavy oil and woodchips from cargo washed ashore from the wreck of a ship at Hachinohe port on 11 August 2021. The company plans to use the waste as refuse-derived fuel (RDF) for cement production at its cement Hachinohe cement plant. The company said that the oil spill from the incident has had a great impact on the region. It added “In the future, we would like to actively promote the acceptance of wreckage with heavy oil attached and cooperate in the early resolution of the situation.”

Japan: Sumitomo Osaka Cement has joined the Task Force on Climate-Related Financial Decisions (TCFD) Consortium. The consortium is committed to facilitating effective and efficient disclosure of climate-related corporate information and their use by financial institutions. As a member, Sumitomo Osaka Cement will conduct scenario analysis on the climate change impacts of all its businesses. This includes its cement business, which the company says accounts for the majority of its CO₂ emissions.

Australia: Sumitomo Osaka Cement has started operating a cement terminal at Port Kembla in New South Wales. The Japan-based cement producer owns a 30% share in the company running the unit, which operates as Falcon CP. The terminal has a silo capacity of 36,000t. Sumitomo Osaka Cement says it plans to use the terminal as a means to increase its activity in the local market. It runs its regional headquarters in Sydney trading as SOC Oceania.

Japan: Sumitomo Osaka Cement plans to set up a ‘Sustainability Promotion Office’ in April 2021 as part of the company’s efforts towards carbon neutrality by 2050. It follows the company’s medium and long-term sustainability targets that were set in December 2020.

Japan: Sumitomo Osaka’s Cement’s consolidated sales were US$1.68bn in the nine-month period which ended on 31 December 2020, down by 3% year-on-year from US$1.74m in the corresponding period of its 2020 financial year. Its net profit rose by 5% to US$77.9m from US$73.8m. In December 2020 the company launched its ‘2020 - 2022 Medium-Term Management Plan’ to enable it to meet carbon neutrality by 2050.