NSK Ltd.
Corporate Communications Department
Strengthening collaboration with CHITOSE Group toward Co-Creation of New Business in the Bioeconomy
●Promotion of existing biomass-related business creation activities with CHITOSE Group
●NSK has decided to invest in CHITOSE Group and form a new business alliance for expansion of ongoing business as well as co-creation of new business.
NSK Ltd. (Headquarters: Tokyo, Japan; Representative: Akitoshi Ichii, President and CEO; hereinafter "NSK") has been collaborating with CHITOSE Group, a group of leading biotechnology companies in the global bioeconomy (Representative: Tomohiro Fujita, hereinafter "CHITOSE"), to undertake business creation activities focused on biomass recycling. This spring, the two companies have achieved a certain level of success, including the sale of a compost production plant developed by both companies, and having paved the way for commercialization, they have decided to strengthen their cooperation for future expansion of this business and co-creation of new businesses.
As specific measures to strengthen the collaboration, NSK invested 500 million yen in CHITOSE BIO EVOLUTION PTE. LTD., the headquarters of CHITOSE Group, and signed a business alliance agreement with Chitose Laboratory Corp., a core company of the CHITOSE Group, for the purpose of expanding biomass recycling business and co-creating new businesses.
NSK representative: Akitoshi Ichii (left),
CHITOSE representative: Tomohiro Fujita (right)
■Representative Comments
Akitoshi Ichii, NSK:
The bioeconomy is poised for substantial growth across various sectors such as food, environment, and medical/health care, promising significant expansion in the coming years. Strengthening our collaboration with CHITOSE Group, renowned for its wealth of knowledge and expertise in this field, will enable us to diversify our business reach and play a pivotal role in driving the realization of a circular society through our advanced tribology and manufacturing technologies.
Tomohiro Fujita, CHITOSE:
CHITOSE Group has a proven track record of addressing social issues through the implementation of innovative circular solutions in Japan and Southeast Asia. These solutions include circular hydroponic cultivation using organic materials and microalgae production utilizing CO2 emission from exhaust gasses. By combining the expertise of NSK in the field of precision equipment with the knowledge and experience cultivated by CHITOSE Group, the leader of the global bioeconomy, we make a significant step towards realizing a circular society.
Supplementary Information
1. Details of activities so far
NSK and CHITOSE have started collaboration in 2021 after conducting a business search in the field of biotechnology to take advantage of the strengths of both companies and discovering the potential for co-creation in biomass circulation. NSK has been developing equipment for zoos and resort hotels with the aim of turning unused biomass (animal waste, food residues, etc.) that has been disposed of in the past into resources using mechatronics technology, which is one of “NSK's” strengths. The first sales of the newly developed composting plant were made in the Spring of 2024, and further sales expansion is planned in the future.
＜Concept and Features of the Newly Developed Composting Plant>
Concept:
We aimed to deepen people's understanding of resource recycling by allowing them to see “composting,” the process of turning unused biomass into resources, not only from the outside of the plant, but also through the workings of microorganisms inside of it.
Features:
1) Adoption of barrel-shaped design to attract the attention of resort hotel and zoo visitors.
2) A monitoring system can be installed to visualize the "composting" process carried out by invisible microorganisms.
Compost production plant (Demonstration plant)
Display screen of the monitoring system for the compost production plant
(Visualization of composting progress, temperature of the biomass, etc. )
2. Content of relationship enhancement measures
(1) Investment
Investee | CHITOSE BIO EVOLUTION PTE. LTD. |
Amount | 500 million yen |
Method of investment | Acquisition of shares through third-party allotment |
Date of share acquisition | September 11, 2024 |
(2) Business Alliance Agreement
| Partner | Chitose Laboratory Corp. |
| Contents | 1)Biomass recycling business expansion 2)Search for new business opportunities with a focus on the biomass recycling area |
| Effective Date | October 1, 2024 |
About CHITOSE Group
CHITOSE Group is a family of biotechnology companies leading the global bioeconomy. To live in abundance beyond the next millennium using the ability of living things, CHITOSE pursues the possibilities of biotechnology through technological and business development collaborating with its business partners all over the world.
About NSK
NSK produced the first bearings in Japan in 1916 and over the past 100 years, it has supported the development of industries worldwide by creating various innovative products and technologies in bearings, automotive parts, and precision machinery. Since the early 1960s, the company has expanded overseas and now has operations in about 30 countries. It ranks third in the world in the field of bearings and leads the world in ball screws, electric power steering, and other products.
In our current medium-term management plan, we are striving to create value by utilizing our core technologies in biotechnology in addition to the robotics and medical fields. Our goal is to contribute to building a safer and more secure society through the implementation of our "Grow New Products" policy.
For more information about NSK, please visit this page: https://www.nsk.com/