2023

Dec.18, 2023

Notice Regarding Conclusion of Memorandum of Understanding on Solar Power Generation Project between MinebeaMitsumi and the Ministry of Mines and Energy of Cambodia

MinebeaMitsumi Inc. (Head Office: Nagano Prefecture, Representative Director, Chairperson and CEO: Yoshihisa Kainuma, hereinafter MinebeaMitsumi) has concluded a Memorandum of Understanding with the Cambodian Ministry of Mines and Energy (hereinafter MME) in regard to a solar power generation project.

This Memorandum was signed by H. E. Keo Rattanak, Minister of Mines and Energy, and Yoshihisa Kainuma, MinebeaMitsumi President and CEO, in conjunction with the Asian Zero Emissions Community (AZEC) Summit held today.
MinebeaMitsumi aims to use renewable energy for all the electricity required for MinebeaMitsumi's existing plants and future plant expansions in Cambodia. In collaboration with SchneiTec, a government-certified electricity utility in Cambodia, MinebeaMitsumi plans to launch a 50 MW solar power generation project in Krakor District, Pursat Province, Cambodia in fiscal 2025 that is scheduled to be in operation for a period of 20 years thereafter.
This concept will help to realize the ultimate vertically integrated manufacturing system by adding in-house power generation to the current vertically integrated manufacturing system that supports the source of MinebeaMitsumi's competitive edge, combining ultra-precision machining technology with mass production.
Further, this Cambodian solar power generation project will enable MinebeaMitsumi to convert 100% of the electricity used at its Cambodian plant into renewable energy. As announced at the Financial Results Briefing on November 2, 2023, power used at MinebeaMitsumi's plant in the Republic of the Philippines will also be powered by 100% renewable energy through a large-scale solar power generation facility (in-house power generation facility operated on the premises of the Cebu Mitsumi plant with an output of 7.9 MW) and its domestic power procurement agreement (PPA).
MinebeaMitsumi established a local subsidiary in Cambodia's Phnom Penh Special Economic Zone (PPSEZ) in 2010 as the country's first manufacturer of precision electronic components, and commenced production in 2011. The MinebeaMitsumi Cambodia plant manufactures a wide range of MinebeaMitsumi products, including bearings and small motors. Since its establishment, the plant has been working to contribute to the local community by creating employment opportunities, improving the living environment of employees, and human resource development through the manufacture of a variety of electronic components.

Based on the Group's Environmental Policy, MinebeaMitsumi is promoting a 30% reduction in greenhouse gas emissions compared with the fiscal year ended March 2021 by the fiscal year ending March 2031, and to achieve carbon neutrality by 2050. In order to achieve these, we consider to take various initiatives, including the introduction of solar power generation systems at our company's bases around the world and enhancing our initiatives on decarbonization and the reduction of environmental burden.

Aiming at our corporate philosophy "To contribute to realization of a sustainable, eco-friendly and prosperous society by providing better products, at a faster speed, in larger numbers, at a lower cost and by smarter means," we will continue to strive to further expand the use of renewable energy and build a sustainable society.

Pursat Province in Cambodia, the site of MinebeaMitsumi's planned solar power generation project

Scene at document exchange (photo by MinebeaMitsumi)

(From left in front row)
His Excellency Keo Rattanak, Minister of Mines and Energy
Yoshihisa Kainuma, Representative Director, Chairman CEO of MinebeaMitsumi

(From left in back row)
Samdech Moha Borvor Thipadei HUN Manet, Prime Minister of the Kingdom of Cambodia
Mr. Fumio Kishida, Prime Minister of Japan

Reference

About the Minebea (Cambodia) Co., Ltd.

In December 2010, the MinebeaMitsumi Cambodia plant received a license to operate as the first precision motor manufacturer in Cambodia. After starting small-scale production at a rental factory in the PPSEZ on April 1, 2011, the first plant began full-scale production activities in the new premises located in the PPSEZ on December 17, 2011.
In the time following, operations commenced in a second plant in 2013 and in a third plant in December 2016, and currently produce miniature and small ball bearings, stepping motors used in OA equipment, brush DC motors for AV equipment, etc. and smart LED road lights.
Further, since 2019, we have been supporting the national team as an official partner of the Cambodian National Football Team.

About MinebeaMitsumi

MinebeaMitsumi is an INTEGRATED precision components manufacturer^* that engages in the development, manufacture, and sale of mechanical and electronic devices and components such as motors, sensors, and semiconductors, with a focus on core technologies typical of ultra-precision machining. Our products include global market leading items such as miniature and small-sized ball bearings, which enable machines to rotate smoothly, for which we hold the highest share in the world^**, and 1 cell protection ICs for lithium ion batteries. Our ultra-precision technologies are used in a wide range of fields, supporting people's lives in unseen ways, including home electronics such as air conditioners, vacuum cleaners, dryers, and gaming equipment, IT devices such as smartphones and computers, automobiles, aerospace products, and medical equipment.

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* INTEGRATION means "combining" rather than "simple gathering" of the Company's proprietary technologies to evolve the "Eight Spears" of our core businesses and to create new products in various fields through the INTEGRATION of our advanced technology.

• ** According to MinebeaMitsumi

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