The Denka Way

The
Denka
Way

Summer2024
Vol.20Contents
02 Business Value Creation
LEAF®, Denka’s Special Cement AdditiveThat Contributes to the Realization of
a Carbon Neutral Society

08 Business Value Creation

2024 Vol.20

SummerA New Business Idea Contest Where an Employee’s
Idea Could Become Denka’s New Star
Denka Innovation Day!

Publisher: Corporate Communications Dept., Denka Co., Ltd.
Nihonbashi Mitsui Tower, 2-1-1 Nihonbashi-muromachi, Chuo-ku, Tokyo 103-8338
Editor-in-chief: Hiroyuki Yamamoto / Published: July 1, 2024
Unauthorized reproduction
prohibited

Moving toward
a Future Where
Concrete andthe Earth Coexist

14 Board of Directors
16 A Specialist’s Perspective
17 “The Denka Way”
Reader Survey Results
18 Denka TOPICS

Sp e c i a l Fe a t ure 1

LEAF ,® Denka’s Sp ecial Cement AdditiveThat Contributes to th e Realization of a Carbon Neutral Society

Mission 2030

Until recently, the manufacturing process of concrete has been unable to avoid emitting a large volume of CO2. However,
manufacturing technologies are being innovated. LEAF®, Denka’s special cement additive that reacts with and absorbs
CO2, is a key material of CO2-SUICOM®, the world’s first carbon negative concrete* that has been put to practical use. In
this special feature, we introduce the characteristics of LEAF® and the future that will be achieved through its use.
*Concrete that absorbs more CO2 than is generated during manufacturing

By working with major construction companies, concrete manufacturers, and others,
Denka aims to propose technologies from Japan that will be used worldwide.

Development of concrete that absorbs and fixes CO2
Similar to the steel industry, the cement industry

Volume of CO2 generated from 1 m of concrete
3

directly generates large amounts of CO2. The volumeof CO2 generated when producing 1 m3 of concrete,

Cementa primary application of cement, is approximately

Gravel(coarse aggregate)Sand(fine aggregate)

Water

CO2 emissions (100 million tons of CO2)

Business Value Creation

Fig. 1 CO2 emissions by industry

Reducing CO2 emissions for concrete is the key to realizing a carbon neutral society.

30

Steel

Market scale of CO2
absorbing concrete

Cement25
20

Chemicals,
etc.
Fuel

Other

45 trillion yen

Concrete, etc.

15
Chemicals

10

1.4

Aluminum5billiontons

Paper & pulp

Amount of CO2
reduction possible

5 billion tons

0

2000

290 kg.

Fig. 2 Market forecast for carbon recycling technologies(global scale)

2010

2020

Source: IEA (2021), Industry direct CO2 emissions in the Net Zero and Announced
Pledges scenarios, 2000–2030, IEA, Paris

2020

2025

2030

Source: ICEF(2016), Carbon Dioxide Utilization (CO2U), ICEF ROADMAP 1.0, pp.6-7

To solve this, various countries are taking thechallenge of developing concrete that can absorb andfix more CO2 than is generated during the concrete

Approx.

290 kgApprox.

0 kg

Approx.

0 kg

Approx.

0 kg

manufacturing process and achieving social implementation. The volume of CO2 emissions that can be
reduced for concrete by 2030 is expected to be 5 billion tons, and the market for CO2 absorbing concrete
is expected to expand to 45 trillion yen.

Long-life, Environm ent, Add, Functions
2

The Denka Way | 2024 Summer

The Denka Way | 2024 Summer

3

that realizes the high strength and

LEAF

CO2-SUICOM®

durability of concrete and is used as

What is LEAF®?

Environmentally friendly concret jointly developed by four companies

LEAF® is an admixture for cement and concrete developed by Denka that reacts to

CO2-SUICOM®, which was jointly developed by Kajima, The Chugoku Electric Power Co.,

CO2, but does not react with water. It contributes to the high durability of concrete

Landes, and Denka, is a type of concrete that can absorb and fix more CO2 than isand reduction of the burden on the environment by absorbing and fixing CO2.

generated during the manufacturing process.

®

LEAF® absorbs approximately half of its
weight in CO2. It is a wonder material

a key material of CO2-SUICOM®, thethat has been put to practical use.

of technica
lc
oof
ap
Pr

Benefits of LEAF for concrete®

Stronger
Fills voids in concrete,increasing its density

γ-C2S, the main component of LEAF®, is a

Usin
gc
on
cr
e

powdered substance made from calcium hydroxideand silica. Efforts have been made to control
the generation of γ-C2S for conventional cement
manufacturing as it does not react with water.
Denka focused on γ-C2S, which had been
considered troublesome, and its property ofhardening when it reacts with CO2. Denka
proceeded with development as it believed that the
carbonation reaction of γ-C2S would absorb andfix CO2 and be able to enhance the strength anddurability of concrete.

40 years ago as
500
ah
m
int
fro
!
te
More than 5,000 years ago, a material similar to modern concrete wasused for flooring at the Dadiwan sitein China. Analysis of its composition
revealed that it had high strengthand properties similar to marble due
to a long-term chemical reaction
with CO2, which inspired us to begin
development.

The Denka Way | 2024 Summer

ct

tu
tha

s es L E

Characteristics of CO2-SUICOM®
AF ®

Results ofapplication

!

!
ies
ilit
ab

Development
by reversing
way ofthinking

More than 80
domestic patentapplications related
to LEAF® have been
submitted!

Ap
rod
u

world’s first carbon negative concrete

Longer life
Enhanced resistance tochemical erosion andpenetration of
degradation-causing
agentsLow pHemitted during
manufacturing

Gentle on plants andenvironmentally friendly
due to low alkalinityCore
technology:
forcedcarbonation
During the manufacturing process of concrete
mixed with LEAF®, high concentrations of
CO2 gas are pushed into the curing tank toforce carbonation and fix CO2 in the concrete.
Theoretically, the amount of CO2 absorbed is
expected to be 500 kg for 1,000 kg of LEAF®.
In addition, the strength of the concrete isenhanced due to calcium carbonate and othersubstances produced through carbonation fillingthe voids.

Reductionof CO2Concrete strengthened withcalcium carbonate!
Wet concrete that has
been poured into thecuring tankHigh concentrationsof CO2 gas

Through the reaction with
CO2, calcium carbonate is
created, and CO2 is fixed
CO
²
CO
²

CO
²
CO
²

CO
²
CO
²

CO
²
CO
²

CO
²
CO
²

Calcium
Calciumcarbonatecarbonate
Calcium
Calciumcarbonatecarbonate

Black areas
are voids

After forcedcarbonation

Carbon negativity is achieved by reducing the volume of cement throughreplacement of a portion of the cement with by-products, such as blast furnace
slag (steel by-product) or fly ash (coal ash from thermal power generation), andby carrying out carbonation curing through mixture with LEAF®.

Boundary blocks between sidewalks and roads

Denka

Hydrated
lime
Cementfactories

LEAF®

Significant
reduction involume ofcement used

Volume used
is halved!

CementSteel mills

Blast furnace
slag

Thermalpower plants

Coal ash

CO2SUICOM®

Paving blocks
Fixes
a largevolume of
CO2

Created based on diagram created by Kajima Corporation
Calcium
Calciumcarbonatecarbonate

CO
²
CO
²

Before forcedcarbonation

LEAF® uses hydrated lime, which
is a by-product from manufacturing
processes at plants for other products,
as a raw material. As a result, CO2
emissions during the production of
LEAF® can be reduced.

Cement volume reduction +LEAF®+ carbonation curing= carbon negative

It has been used for boundary blocks
between sidewalks and roads, concrete
frameworks, paving blocks, precast ceiling
panels, etc.
As it is more expensive than regularconcrete, reducing manufacturing costs
and increasing supply are key for its
widespread use.

Calciumcarbonate fills
the voids

Received JCIA Technology Award
Environmental Technology Prize!
In May 2023, Denka was awarded the JCIA Technology Award
Environmental Technology Prize by the Japan Chemical Industry
Association for “Development and commercialization of LEAF®, thespecial cement additive that contributes to the realization of concretethat absorbs and fixes CO2.”

At the award ceremony

The Denka Way | 2024 Summer

5Intercompany Collaboration toward
the Development of Next-Generation Concrete
In cooperation with Kajima Corporation and Takenaka Corporation, Denka strives to develop
and spread the use of carbon-negative concrete as a leading company of CUCO®,
a consortium of 55 corporations, universities, and research institutions.
CUCO , which stands for Carbon Utilized COncrete, is a

we will promote technical development for leveraging CO2 in

consortium that implements projects under the framework ofconcrete manufacturing, develop manufacturing systems for

the Green Innovation Fund Project*1 of NEDO*2. With the aim ofrealizing a carbon neutral society by 2025, CUCO® will strive®

Website for
the CUCO® project
https://www.
cuco-2030.jp/english/

From a member of the development team

Seizing
the opportunity torealize social
implementation

EAF®, which is capable of fixing CO2, waswhich had not been the subject of research as thedeveloped before the Paris Agreement

industry avoided it due to it not reacting with water.

was adopted in 2015. When I began focusing on

I believe this success reflects the innovative thinking

this theme in 2016, it was already highly evaluatedingrained in Denka’s Special Cement Additives Dept.

as a product that would contribute to reducing CO2

The superior durability of carbonated concrete isemissions throughout the world. However, the barrier

evidenced by the fact that ancient Roman concreteof placing top priority on economic performance washas survived soundly for thousands of years. Our

L

Taiichiro Mori
Omi Sustainability Promotion
Dept.
Omi Plant

preventing commercialization. Thanks to Japan’s

method of fixing CO2 in a short period of time by

Carbon Neutrality Declaration in 2020, market en-

utilizing LEAF® and forcing carbonization is excellent

reducing costs, and establish methods that control the quality ofvironments are significantly changing. Seizing

not only because it reduces CO2 emissions but alsoestablished technologies and evaluate the amount of fixed CO2.

this opportunity, we would like to achieve

because it enhances the durability required of con-social implementation in collaboration

crete. Furthermore, this product has potential for CO2

to develop concrete that utilizes carbon by 2030. Specifically,

with domestic and overseas partners.

*1 A 10-year initiative to support companies’ research and development, demonstration,and social implementation for the achievement of carbon neutrality by 2050
*2 New Energy and Industrial Technology Development Organization

Expectations for Denka and LEAF explained by leading company members®

Kajima Corporation

Takenaka Corporation

Masaro Kojima

Tetsushi Kanda
Deputy Director
Kajima Technical Research Institutes a leading company of the CUCO project, Kajima Corporation®

A

handles the overall development of carbon-negative concrete, includingTthat integrate user needs with ourinvisible, but it can also be used as a resource. Japanabundant technologies for designingmust demonstrate competitiveness in this realm,

and processing powder materials,

as the country has historically practiced the spirit ofwhich have been cultivated throughmottainai. With the purpose of “Making the world a

Denka’s other products, such as CSA, anbetter place as specialists in chemistry,” I would like toakenaka Corporation is responsible for developing carbon negativeenvision a sustainable future for concrete, which willcontinue to be essential in social infrastructure.

concrete through the improvement of CCU materials*5 and ECM

precast components*7 and in-situ concrete construction. In the Expo 2025with the goal of achieving a 5% share of the entire concrete market in 2030.

Osaka Kansai, we applied the CUCO® Precast Components for Construction

We are going to construct the CUCO®-SUICOM Dome, an eco-friendly

as a foundational material for the Event Hall Building of the Future Life Zone.

concrete dome, for the Expo 2025 Osaka Kansai. It is the first project to apply

The components were developed through the integration of three technologies:

CUCO®-SUICOM in in-situ concrete construction*4 and reinforced concrete

ECM cement that reduces CO2, CCU materials that have fixed CO2, and LEAF®

structures and involves major technical steps.

that absorbs CO2. LEAF® is a key material in the CUCO® project. We expect

ply and reduce costs through the increased production of LEAF®. We would liketransition to a circular economy is advocated. CO2 isexpansive additive, and Natmic, an acceler-

manufacturers, other major construction companies, and material manufacturers,

To spread the use of CUCO®-SUICOM, it is essential to ensure a stable sup-demonstrating on-site capabilities

ator. Additionally, we successfully utilized γ-C2S,

concrete*6, as well as technical development for leveraging the concrete in3

Resource-derived energy is limited, and a

Senior Chief Researcher
Construction Technology Research Department
Research & Development Institute

CUCO -SUICOM* . We take a managerial position, leading precast concrete®

Denka to develop and roll out new LEAF® with competitive pricing through theaccumulation of its high level of technical capabilities.

From a member of the manufacturing teamo manufacture LEAF®, our top priority

T was safety. We implemented measures forvarious anticipated issues before starting operations.

stable operations.
There is a demand for limiting CO2 emissions
throughout society. Unlike cement, which hardens

For instance, since the product utilizes aby reacting with water, LEAF® is a carbon negative

by-product from acetylene manufacturing process-product that hardens and achieves strength by ab-

es as a raw material, we were concerned aboutsorbing CO2. Additionally, by leveraging by-products

Denka to cooperate with us in these two areas, while also expecting technical

We will engage in technical development and social implementation with theachievement, including quantifying the amount of fixed CO2. In the future, we willaspiration of replacing all concrete with our products to achieve carbon neutrality

potential impacts of moisture content fluctuations on

from plants as raw materials, it also reduces CO2

strive to not only reduce CO2 but also store and effectively use it with concrete,by 2050. To promote social implementation, a system for creating value throughphysical properties. Additionally, we had to consider

emissions associated with raw materials. LEAF®

thereby mitigating global warming and making societal contributions throughreducing, fixing, and absorbing CO2 is essential. We will also continue to pay

the risk of highly alkaline water due to heat gener-

is an exceptional product that theoreticallybusiness.

attention to the system organized by the country.

ated during the process of pulverizing and mixing

absorbs half of its weight in CO2 during*3 A type of carbon negative concrete that has enabled further reduction of
CO2 emissions based on CO2-SUICOM®
*4 A construction method for building structuresby using ready-mixed concrete onsite*5 Aggregate made from scrap generated after building demolition thatabsorbs CO2*6 Concrete with reduced CO2 that is made by replacing some cement withground granulated blast furnace slag or other industrial by-products*7 Concrete parts that have already been manufactured at factories, etc.

materials.

construction.

CUCO®-SUICOM Dome
Reducing CO2 emissions by a total of 70% compared toconventional concrete!

Event Hall Building in the Future Life Zone
Reducing CO2 emissions by over 80% compared toconventional concrete!

To address these issues, we not only collaborat-

Currently, LEAF® is used in

ed with the development team, but also incorporated

boundary blocks and paving blocks

improvement ideas suggested by on-site workers,

for sidewalks. I believe its value canthereby establishing a manufacturing system. Thanks

be demonstrated in various fields

to the high-temperature sintering technology Denka

in the future.

has accumulated, we have successfully identified

By increasing social awareness

optimal manufacturing conditions for LEAF , such asof LEAF®’s utility and scaling up thesintering temperatures and input amounts, based on

production volume, we aim to achievelaboratory testing data. This achievement has led tofurther stable production.

®

Exterior image of CUCO®-SUICOM Dome
(Photo credit: Kajima Corporation)

6

The Denka Way | 2024 Summer

Blasting CUCO®-SUICOM(Photo credit: Kajima Corporation)utilization in applications other than concrete.

In development, we are

Increasing production
volume and achieving
stable production
Yuji Hiroshima
Cement & Special Additives Section
Manufacturing Department No.1
Omuta Plant

The Event Hall Building’s foundational components that have applied the CUCO® Precast
Components for Construction (Photo credit: Takenaka Corporation)

The Denka Way | 2024 Summer

7Sp e c i a l Fe a t ure 2

A New Business Idea Contest
Where an Employee’s Idea Could Become Denka’s New Star

Comments
from external judges

Mission 2030

Denka Innovation Da y!
Denka held Denka Innovation Day, a new business idea contest for its employees, with the goal of creating

SatoshiKonno
Executive
Partner,Innovation
Engine, Inc.

new businesses aligned with thethemes of “specialty, megatrends, and sustainability” as outlined in its Mission 2030 management plan.
The event’s first iteration received 74 entries, and on February 15, the six projects that advanced to the final

round presented their ideas.

High hopes formore bold ideas
in the future

Approximately 500 people, including online viewers, watched the presentations.

Business Value Creation

Prizes were awarded to the top three presenters, and the winning idea will be considered for commercialization.
Through this initiative, Denka continues to explore the possibilities of chemistry to create new value.

I have participated in numerous presentations as an external judge, but this one
was particularly interesting. Please continue
to pursue such innovative initiatives in the
future. It’s also rare for the management
team to participate in presentations likethis. I hope employees will appreciatemanagement’s intentions and strive forfurther growth.

The six teams that advanced to the final round:
From left: Emura, Clinical Reagent Manufacturing Dept., Gosen Site / Lin, Advanced Diagnostics Business Development Dept., Life Innovation /Muramatsu,New Business Exploration Dept., Life Innovation / Kawamura, Takekawa, Fujisawa, Tohoku Sales Office, Elastomers & Infrastructure Solutions /Aida, Engineering Group, Sheet Section, Production Dept. No.2, Isesaki Plant; Asanuma, New Business Creation Dept., New Business Development / Jin, Denka Chemicals G.m.b.H.

Yuki Hanyu
CEO
IntegriCulture Inc.

Overview of the first Denka Inno vation Day judging
First round (74 entries)
Document review. To ensure a broader perspective, 18 young employees
were selected by board members to conduct the screening process.

Second round (20 entries)

Final round (6 entries)

Presentation format. A total of eleven judges, including
the General Manager of the Corporate Planning Dept.,
the General Manager of the New Business Creation
Dept., representatives from other departments, andexternal members, conducted the review process.

The chairman, president, and other board members, along with two external judges, conducted
the review. The presentations were also streamed
online.

Winner receives
one million yen in
prize money and achance forcommercialization

Many intriguing ideas
made it hard to choose
a winnerI thoroughly enjoyed seeing all the ideas.
It was quite challenging to evaluate highly
feasible incremental process innovations
alongside ambitious moonshot proposals

An opportunity tocultivate Denka’schallenger mindset

8

The Denka Way | 2024 Summer

applicants’ intentions for commercialization. A scoring
system was used, ensuring fair and efficient evaluations with clearly defined criteria.

commercialization, not just the winning one.
Denka Innovation Day attracted a lot of attention
from employees. Approximately 200 attended the ex-

The experience of brainstorming a new businessplanatory session held before the contest, and manyfrom scratch serves as an opportunity for participantsalso tuned in online to watch the final presentations.

Denka Innovation Day was started not only to fosterand other employees to reconsider the potential

Many employees were interested in the new ideas

the creation of new businesses but also to cultivate awithin Denka. For this contest, experts were invitedand curious about taking on new challenges, making it

corporate culture where employees can feel excited

to provide feedback to refine participants’ ideas into

a fruitful initiative towards achieving Mission 2030.

about the future and enthusiastic about taking on

more concrete proposals. As a result, participants

Building on the insights gained from the firstchallenges, one of the core values advocated ingained insights into the necessary processes andevent, the next contest will be held with improve-

Mission 2030.

perspectives for commercialization. Feedback

ments to allow even more employees to take on thechallenge.

A total of 74 entries were received from various

sessions were also offered to non-winning presentersdepartments and locations. These entries were eval-by request. Many within the company noted that theiruated from multiple perspectives, including whether

perspectives on creating new business ideas had

they were meaningful for Denka, their feasibility, andexpanded. The contest brought many ideas closer tofor a better future. As this was only the firstevent, I am looking forward to improvements and even more intriguing proposals
in the future.

The 2nd Denka
Innovation Day!
This event will be held again in
FY2024. We welcome submissions of not only new ideas, butalso ideas that narrowly missed
selection in the first contest.
Please enthusiastically submit
your proposals! We plan to holdan explanatory session in the near
future.

The Denka Way | 2024 Summer

9

1st
Place

Winnera Innovation Day
Denk

I was motivated by the enjoyment of coming up
with new business ideas

3rd
Place

I was involved in activities such as commercializ-to give shape to my ideas, so it was very helpful

with regular work was challenging, and there were

ing new products and management planning, but

to receive support from consultants. They gavetimes I had to devote weekends to prepare forI wanted to do something that would significantly

me lectures on starting a new business, and we

presentations. However, I enjoyed working on it

influence the company’s direction. That’s when I

had frank discussions about my presentation. I

until the very end thanks to the cooperation oflearned about Denka Innovation Day and decided

realized the narrowness of my own perspective

various people. Additionally, I once again realized

to test how far I could go.

and that I hadn’t thought deeply enough about

the significance and importance of challenging

my ideas in business terms. This has taught meoneself. I would like to share my experience with

the importance of viewing things from various

those around me and contribute to fostering aperspectives, and I also learned many essential

company culture that embraces challenges.

When applying for the contest, I struggled

Dai Emura
Deputy Manager,
Clinical Reagent Manufacturing Dept.
Kagamida Plant, Gosen Sitepoints for coming up with a new business.
I was also able to experience how interesting
it is to brainstorm business ideas. Balancing ita Innovation Day
Denk

Taking that first step
forward brings
new observations
Shino Muramatsu
Section Manager,
New Business
Exploration Dept.
Life Innovation

A Mindset to Encourage Challe nges
As Told by the Denka Innovation Day Top 3

The reason I participated in Denka Innovation Day was that I wanted tolearn about planning and proposing new businesses. I learned about the

The three winners of Denka Innovation Day explain why they entered the contest and what they have learned from the experience.

contest shortly after being transferred to the New Business Exploration
Dept. and decided to take on the challenge because I thought it would bea good learning opportunity.
I think the biggest benefit of participating was connecting with otherdepartments. For this project, I proposed an idea related to infrastructure

Taking on this challenge allowed me to gain
a lot of experience and skills

To further develop my idea, I conducted interviews with internal experts.
This provided me with an opportunity to deepen my knowledge of Denka’s

I decided to take on the challenge of Denka Inno-with a clear direction for the future. Additionally, toexperience gained through participating to takeunique technologies. Additionally, participating in the contest and interact-

vation Day because I wanted to further hone my

prepare for my presentation, I received valuable

on leadership roles in new business ventures.

ing with others who had passionate ideas was an inspiring and valuable

skills and experience through exploring businessadvice from my supervisors and senior colleagues

With the cooperation of my team members, I

experience.

ideas and gain new perspectives from interacting

and had the opportunity to meet with experts

want to efficiently bring business ideas to life.

with other participants.

related to the field of my presentation. The

ness models, competitive analysis, and marketability essential for planningencouragement and support from my colleagues

and proposing new businesses, but also how to research and interview for

were also a great source of strength.

such information and compile it into clear and understandable materials.

In the contest, I was able to learn different
perspectives and approaches from consultants,

10

and electrical equipment materials, which are outside my area of expertise.

experts, and other participants, which taught me

Denka Innovation Day is a valuable opportu-

new ways of thinking and forming hypotheses

nity to test one’s abilities and confidently take onthat I had been lacking. The rigorous evaluation

new challenges. It is also a platform to acquireand precise feedback also revealed various issues

important skills and experience in developing new

in my work. I feel this experience provided mebusinesses. Moving forward, I aim to leverage the

The Denka Way | 2024 Summer

Through this experience, I not only learned about the basics of busi-

Moving forward, I want to refine how I organize ideas and challenge myself

Lin Yuhung
Advanced Diagnostics
Business Development Dept.
Life Innovation

2nd
Place

to make more compelling proposals for new businesses in Life Innovation,
my area of expertise. I hope to create new business ideas that only Denka
can achieve by fostering active interdepartmental communication.

a Innovation Day
Denk

The Denka Way | 2024 Summer

11

Roundtable Discussion

The Path toward Mission 2030
Emerged at Denka Innovation Day
New possibilities for Denka emerged through the competition, Denka Innovation Day.
We believe that new ideas and our employees’ willingness to take on challenges will encourage
the realization of Mission 2030.
We held a roundtable discussion between the awardees from Denka Innovation Day and Ishida,
Managing Executive Officer and head of the Denka Innovation Day Secretariat.

Ikuo
IshidaLeveraging Denka’sabundant human resources
and technology

I felt that the company doesn’t yet have the corporate

understanding of Denka’s business and Mission 2030.

active collaboration between its departments and build

to go in the right direction. For example, by providing

culture and environment to embrace their passion and

On top of that, we need to take on challenges toconfidence.

my team with opportunities to tackle challenges likeuse their ideas.

move forward instead of focusing on maintaining

Kawamura: The scope of business is one of Denka’s

the status quo.

Ishida: First of all, I would like to sincerely express mygreat strengths. Additionally, the businesses aren’t

Asanuma: I agree with Mr. Soda. What we need is

Kazunori
Kawamura

respect and gratitude for the challenges you have taken

separated, but are intertwined in a complex manner.

change. It is obvious that we need to change what

on. Can you give us your thoughts on the challenge

We need to actively take the lead in making

isn’t working well, but for the further growth of Denka, I

Tohoku Sales Office
Elastomers &Infrastructure
Solutionsof Denka Innovation Day and the lessons gained fromconnections between each business.

the event?

Director andManaging
Executive Officer

Koji
Asanuma
New Business
Creation Dept.
New Business
Development

Katsufumi
Soda
Engineering Group
Sheet Section
Production Dept.
No.2
Isesaki Plant

Canxi
Jin
Denka Chemicals
G.m.b.H.

Denka Innovation Day and by actively communicating,

We want our employees
to freely explore new
possibilities

we aim to advance toward the same goal while

believe that we have to occasionally change things that

Ishida: Can you tell us about challenges you will take on

ideas in such an event allowed me to gain useful

Jin: Denka, a company with a long history, has a variety

are progressing smoothly.

in the future?

information from the viewers. Since many employees

Kawamura: This was my first time participating in suchof management resources. To make use of them,

Ishida: Achieving Mission 2030 will be very challenging.

Jin: While strengthening the sales structure of DCG*

are willing to collaborate, I would like to involvean event, but it was truly a valuable experience because

young and mid-career employees should experi-

Conventional ways of thinking will set limits on the(Germany), to which I belong, and collaborating withpeople from different departments in creating

I have not focused on creating a business from scratch

ence different departments, which may create novel

realization of this management plan. I would like all

DCU*2 (United States), I will take on the challenge

new products and technologies.

since joining Denka.

inspirations.

employees to be afraid of the risks of stayingof enhancing Denka’s presence in Europe and the

Ishida: I can’t help but be excited hearing about the

Asanuma: Although I initially formulated a plan with a

Ishida: As you said, Denka has numerous products andthe same rather than the risks of change. Denka

United States.

challenges you will take on. While organizing the Denka

product-oriented approach, I keenly understood thattechnologies. Some of these products and technologies

must change to grow further.

Asanuma: After transferring to the New Business Cre-

Innovation Day, we valued autonomy in particular.

the most important thing in commercialization

continue to support the company, while others have

Kawamura: By participating in this competition, I real-ation Dept. in April, I’m updating myself while working

I would like you to bring new ideas and explore

is customers’ needs through adjusting the plan andbeen withdrawn from their respective business fields.

ized the importance of taking the initiative. I struggled toin this new environment. Because of my experience inthe potential for various new businesses beyond

listening to potential customers’ opinions.

I’m sure you have heard the saying, “Innovation is

imagine new businesses, but I believe that starting with

Toyokalon, I’m interested in Denka’s projects that focus

your department. For Denka to remain competitive

Soda: While I brought new ideas with Asanuma, wecreated from failure.” While promoting communica-

what you can do will enable you to make new findings.

on Africa. The African market is not yet fully developed,

in a challenging environment, it is crucial for you, thehad a hard time finding a way to ensure profits. As ation between each department and sharing expertise,

Jin: The entire organization needs a strong

so I think that it would be interesting for the company totrailblazers of challenge, to involve those around you. I

result of these activities, I have built relationships with

we need to take on various challenges. To realize this,challenger spirit for the achievement of Mission

start new projects there.

hope that as many people as possible will follow yourcolleagues who work in different departments, such as

we will actively implement job transfers.

2030 as well as the growth of Denka following

Kawamura: As I was appointed as manager of thelead and tackle new challenges.

Asanuma, which I feel will give me a great advantage.

Soda: I feel that establishing a department that acts

that. For this, I believe it’s important for the company

Tohoku Sales Office, I will pay attention to various things

Jin: Through the preparations for the event, I was able

as a “translator” between departments will facilitate

not to operate our business by section but to promotethat will enable both myself and the entire organization

to meet and talk to people inside and outside Denka

cross-divisional collaboration. Different interpretations

who I had never met before, expanding my network.

across locations prevent us from making new ideas

There were a lot of things that couldn’t be done by my-take shape. I believe that by creating an organization

self, so gaining support from various people resulted inthat communicates ideas in an easy-to-understandsatisfactory proposals. I would like to use this expanded

manner from the Denka Innovation Center to our R&D

network for my future projects.

facilities, and from there to our manufacturing and mass

Ishida: Creating something from nothing is very

production sites, we can strengthen these connections.

leveraging individual strengths.
Soda: I heard that as many as 500 employees watched
the Denka Innovation Day livestream. Conveyed my

1*1 DCG: Denka Chemicals G.m.b.H.

*2 DCU: Denka Corporation

challenging. However, you were able to discoverideas that weren’t bound by conventional waysof thinking, enabling me to feel the potential of
Denka. Through the challenge of Denka Innovation
Day, what do you believe to be Denka’s strengths and

12

The Denka Way | 2024 Summer

Denka must take onchallenges without fearing
changeissues?

Ishida: What do you think Denka needs to do for the

Asanuma: I realized that Denka has a lot of people

realization of Mission 2030?

with the desire to make changes. At the same time,

Soda: It is important to start by deepening yourThe Denka Way | 2024 Summer

13

Board of Directors(as of June 20, 2024)

Here is the Board of Directors as of June 20, 2024.

Chairman and Director

Representative Director, President,
Chief Executive Officer (CEO)Manabu Yamamoto

Representative Director,
Senior Managing Executive Officer

Managing Executive Officers

Toshio Imai

Director and Managing Executive Officer

Kazuya Tokumoto

Rimiru Hayashida

Yukio Sasagawa

Hideki Toya

President of
Denka Performance
Elastomer LLC

Corporate Financial Officer(CFO)
Accounting Dept.,
Finance Dept.

Gosen Site

Chief Scientific Officer (CSO)
New Business Development
Innovation Center

Masanobu Kosaka

Michio Kawamura

Masahiro Kawai

Takeshi Hagiwara

Production &Process Technology Dept.,
Digital Strategy & Innovation Dept.,
Sustainability Promotion Dept.

DCHA, DSPL, DAPL*2,
Managing Director

Chiba Plant

Omi Plant

Masahiro Omata

Kei Hara

Ken Watanabe

Hiroto Horiuchi

Elastomers & Infrastructure
Solutions

Polymer Solutions

Deputy Division Director of the
New Business Development
New Business Creation Dept.
Special assignment (Strengthening of group internal control)

Electronics & Innovative
Products

Tetsuo Noguchi

Koji Nishimura

Taro Inada

Akinori Adachi

Shibukawa Plant

Omuta Plant

Life Innovation

Administrative Dept.,
Legal Dept., Secretary Dept.,
Internal Control Dept.

Executive Officers

Ikuo Ishida
Chief Human Resource Officer (CHRO)
Chief Compliance Officer (CCO)
Corporate Planning Dept.,
Best Practice Promoting Dept.,
HR Dept.,
Corporate Communications Dept.,
DCU, DCG*1, Chinese Business

Kazuo Takahashi
Chief Technical Officer (CTO)
Purchasing & Logistics Dept.,
Environment and Safety Dept.,
Quality Assurance Dept., Engineering Dept.

Directors

RumikoNakataMizuhiro
UchidaToshioKinoshita

OutsideAudit Committee
MemberOutside(Audit Committee
Member)

Akio
Yamamoto

MiyukiMatobaOutside(Audit Committee Member)

Outside(Audit Committee Member)*1 DCU: Denka Corporation
DCG: Denka Chemicals G.m.b.H.

14

The Denka Way | 2024 Summer*2 DCHA: Denka Chemicals Holdings Asia Pacific Pte. Ltd.
DSPL: Denka Singapore Pte. Ltd.
DAPL: Denka Advantech Pte. Ltd.

The Denka Way | 2024 Summer

15

Calcium carbide electric furnace operations management

Perspective

A Specialist ’s

Survey Overview“The Denka Way”

Reader Survey Results
From January to February 2024, we conducted a reader survey

What kind of future do on-site specialists anticipate based on Mission 2030?

E-book9.1%

to learn more about other offices and their products. We plan to continue ourBusiness Value Creation series, making it even easier to understand.

Physical

79.1%

Favorite
articlesWhat was your favorite article in theWinter 2024 issue of The Denka Way?
(Multiple answers allowed)

Special Feature 1:
Business Value Creation“The Pinnacle of Adhesive Bonding”
Special Feature 2:
Human Resource Value Creation“Denka’s Promotion of DE&I”

Usefulseries125
204

At the Omi Plant where calcium carbide, the raw material

Sakaguchi says, “Last fiscal year, a female employeeof this product, is manufactured, the one responsible for

was assigned to our worksite for the first time since wethe operations management of the electric furnaces is No-

began operating the electric furnace. My goal is to create

boru Sakaguchi. He is a specialist that has been involved

a workplace where everyone, regardless of gender, can215

My Vision

Denka TOPICS

215

Denka TOPICS

27
4
150

200

250

300

350

0

environment, to make Denka a company that Omi can be

implemented a tool to monitor operational conditions at

proud of and that his family is happy he works at.

16

The Denka Way | 2024 Summer

responsible for coordinating with departments and

50

11
0

100

70

200

300

400

The most common use of the PR magazine is as a tool to learn about Denka’sbusiness fields and operations, indicating that it is primarily used as an information-gathering tool.

500

0

64
31

27

21 18

17

16

13
Other

challenge of creating a better plant, starting with the work

pursuit of a safer and more efficient workplace, Sakaguchi

27

Other

102

100

Management

sometimes have to work in a hot environment. In 2020, in

carbide electric furnaces. Since 2021, he has been

150

121

As a communication tool withexternal stakeholders

300

176

243

As a communication tool
among employees

250

ESG

consistently been involved in the operation of calcium

As a tool to understand
Denka’s policies

200

Overseas

are following in his footsteps. Sakaguchi is taking on the341

As a tool to learn about Denka

200

Specialists

carbide manufacturing site, dust fills the air and people

411

150

New
Business

Joined the company in 1985. Since then, he has

As a tool to learn about
Denka’s business fields and industry

100

What topic would you like us to cover infuture articles?

Nonecommunity.” His two children have also joined Denka andSakaguchi is focused on creating a work environment

He goes on to share his hope for the company, “I

Soughtafter
articles

How do you utilize The Denka Way?
(Multiple answers allowed)

50

Many respondents said that Special Feature 1 was useful. It was also found that
Denka TOPICS, which provides an overview of major events at Denka, was very
popular.

Offices&
Plantsin which everyone can work the same way. At the calcium

working as a foreman to support the worksite.

2

Other

100

Business&
Products

want our company to continue to be loved by the local

Electric Furnace Group, Electric
Furnace Section, Inorganics
Department, Omi Plant

194
51

None

ManagementPlan

work in the same environment.”

Noboru Sakaguchi

113
104

Employees

in this area of work for close to 40 years and is currently

Specialist

Purposeof use297
137

A Specialist’s Perspective

My Vision

50

The results were
unchanged from theprevious survey, with
80% of respondents
reading the physicalformat.

Which articles in the Winter 2024 issue of
The Denka Way were useful to you?
(Multiple answers allowed)

Special Feature 1:
Business Value Creation“The Pinnacle of Adhesive Bonding”
Special Feature 2:
Human Resource Value Creation“Denka’s Promotion of DE&I”

312

The most popular was Special Feature 1, “The Pinnacle of Adhesive Bonding.” Amongthe wide variety of Denka’s business activities, many people expressed a desire tolearn more about fields that they are not involved with in their day-to-day work.

the facilities in real time. Looking to the future of the plant,

3.0%

8.8%

a growing perception of its value. In particular, respondents expressed a desire0

One of Denka’s flagship products is Chloroprene Rubber.

70.7%

NeitherBothprevious survey (2022), indicating increased interest in the PR magazine and

Other

Reacts with water to produce
acetylene gas and is used as
the raw material in organic andinorganic synthetic products,
such as Chloroprene Rubberand calcium cyanamide.

Plants &Offices

The Denka Way is available in both
physical and e-book formats. Which do
you read more often?

FormatWe received more than double the number of responses compared to theNone

Calcium carbide(Members of domestic
and overseas groupcompanies andcorporate alumni)

Headquarters 23.3%

among all Denka employees.

This PR magazine serves as a tool to learn
about businesses, products, and major
events at Denka.

1.0%

Other

Branch &Sales Offices 5.0%

Thank you for reading The Denka Way, our PR magazine.

A Specialist’s Perspective

Ensuring Worksite Safety to Become a Company
Loved by the Local Community

Respondent Profiles

Period: January 22 –February 2, 2024
Target: All employees
Number of respondents: 599

Many respondents expressed a desire to learn more about Denka’s business andproducts. In addition, there were many requests from employees in offices and plants
to know what kind of products other divisions produce.

processes related to manufacturing as foreman.

The Denka Way | 2024 Summer

17

Introducing Denka Group news topics from March to May 2024

TOPICS

Pick UpApr.

M a r.

3- 5
Mar.

Bring Your Kid to Work Day heldat Denka’s headquarters!

May

Check out some of the programs!

Experiment
class

O

In the most popular experiment class, wemade bouncy balls. Wearing white coats
and gloves, the children stirred laundrystarch into salt water. Some even madesquare bouncy balls!

n March 9, Denka held its first “Bring Your Kid toWork Day” at its headquarters. The event was at-more about the company where their mother or father works.

Exchangeof businesscards with thepresident

In the “Questions to the President” section, where children
were free to ask President Imai questions, they raised various
questions such as “Which Denka product do you think is

The president and the children
exchanged business cards and shookhands one by one in the president’s
office. Some children brought theirown original business cards, with someexchanging their cards with their friends.

the most amazing?” and “What has been your happiest
moment as president?” After the Q&A session, President Imaicommented, “I have received many questions from investors
and journalists since becoming president, but the questions
from all of you today were the most challenging. They were all
really good questions.”
The event ended successfully and we received feedback
parents and children. We plan to hold the event again in the

Office tour

future, so if you are interested, please join us!
We introduced the children to the workplaces where their fathers and mothers
usually work and let them see and touch
actual product samples. Fashion wigs
(Toyokalon) were especially popular.

Participants’ comments
Haruka Shiratani
It was a great opportunity
for the children to learn
about our workplace.
Adults also enjoyed theoffice tour.

Secretariat
Corporate Planning Dept.

18

The Denka Way | 2024 Summer

On April 1, a ceremony
to commemorate Denka’s
109th anniversary was held.
After President Imai gave aspeech to mark the anniversary, the President’s Awardand awards to commend 10,
20, 30, and 35 long yearsof service were presented. In the afternoon, an entrance ceremony for FY2024
new employees was held. A total of 168 new employees, 75 in section G and
93 in section M, joined the company this year. After a congratulatory addressby President Imai, new employees at each office were introduced, and the
ceremony concluded with a speech by a representative of the new employees.

Mitsubishi Corporation (MC) andDenka are pleased to announce oursigning of a joint-venture agreementin the business of fullerenes, carbon
molecules that form the base of
cutting-edge materials. Under theterms of our agreement, Denka
shall acquire from MC a 50% stake in Frontier Carbon Corporation (FCC), a
company dedicated to the manufacturing and sales of fullerenes. MC and Denka
look forward to combining our respective expertise in sales and technology topromote the growth of fullerene applications. Our shared goal is to leverage
FCCs operations to address societal challenges by developing systems to boost
production and meet the growing demand for these cutting-edge materials.

Hiroaki Inamura
Business Planning Section
Business Promoting Dept.
Polymer Solutions

Denka’s Special Conductive Materials
Dept. exhibited at the China International Battery Fair (CIBF) 2024, the world’s
largest battery-related exhibition held in
Chongqing, China, from April 27 to 29.
This is the 16th time this fair has been
held, and more than 2,200 companies,
including battery manufacturers, related equipment manufacturers, material
manufacturers, and raw material manufacturers, exhibited their products. Denka
exhibited at the fair to promote ultra-pure acetylene black, a product of theSpecial Conductive Materials Dept., as a conductive material for lithium-ion
batteries (LiB) in the Chinese market, gather customers’ needs, exchange information with existing customers and distributors, and have technical exchanges
with potential customers.

May

Looking back on “Bring Your Kid to Work Day”

Because this was our first project, we weren’t sureif everyone would like it, but it ended up being
successful thanks to everyone’s support. Thanks toeveryone who participated!

Mitsubishi Corporation and
Denka sign a joint-venture agreementin the fullerene business

Exhibiting at the China International
Battery Fair (CIBF) 2024

Various programs were prepared to help the children learn

from all participants saying that it was a satisfying day for both

Ceremonies held to commemorate
the company’s 109th anniversary andwelcome new employeesApr.

tended by 28 children of Denka employees and their parents.

Mr. Inamura’s son

The experiment class
was the most fun! The
office was really neatand cool! I would liketo participate in thisevent again!

Apr.

May

FY2023 Financial Results Briefing held
The FY2023 financial results
briefing was held in a hybrid
format of in-person and Zoom
webinar. Approximately 90 people
attended the briefing for institutional investors, analysts, andfinancial institutions, and 14 people
attended the briefing for journalists. Operating income was 13.4 billion yen, a significant decrease of 18.9
billion yen from the previous year. Net income was 11.9 billion yen, impacted
by a gain of 17.4 billion yen on sale of strategic cross-shareholdings and an
impairment loss of 6.8 billion due to the termination of norovirus vaccine development. For FY2024, continued sluggishness is anticipated in the first half, witha gradual recovery factored in from the second half. After the briefing, many
active and in-depth questions were asked by key analysts and others regarding
the roadmap toward achieving Denka’s highest profit in FY2025.

May

Decision to invest in capital expenditure on
the construction of a plant for the productionof low-dielectric organic insulating material

Denka signs a business collaborationagreement for the collection ofused polystyrene at public facilities

Denka has decided to make acapital investment of approximately
7 billion yen in the production of
low-dielectric organic insulating
material (product name: SNECTON).
SNECTON features the required
electrical properties for raw materials
to reduce the loss of electricalsignals with next-generation high-speed telecommunications and is expected toshow a significant growth in demand in the future. In Mission 2030, Denka has
set a strategic capital spending target of 80 billion yen for the ICT & Energy
business domain. The present investment will be positioned as one of the corecomponents.

Ichihara City in Chiba Prefecture,
Denka, and one of its equity method affiliates, Toyo Styrene Co., Ltd.,signed a business collaborationagreement on May 24 at Ichihara
City Hall for the collection of usedpolystyrene in Ichihara City alongwith the start-up of a polystyrene
chemical recycling plant. Collection at public facilities in the city will begin in
July. Going forward, Ichihara City and the Denka Group will accelerate thedevelopment of this collection system to realize a circular economy.
(Photo credit: Ichihara City)The Denka Way | 2024 Summer

19