Nippon Denko Co., Ltd.
Company ProﬁleCorporate Philosophy

To help create an affluent future through sustainable growth bydeveloping and providing distinctive products, technologies, andservices

President's Message
A company on a constant quest for a better future by supporting
people's lives through materials and the environment
Nippon Denko group has consistently manufactured various ferroalloys since its foundation. In theferroalloy business, which is the foundation of our business, we have concentrated our management
resources on high-carbon ferromanganese and pursued cost reductions to the utmost limit. As a result, we
now maintain a high level of international competitiveness and meet the requirements of the world's highest
environmental standards, which is a great strength of our group.
In the meantime, we are also focusing on and steadily developing our businesses (Functional Materials,Incineration Ash Recycling, and Aqua Solutions), which are relatively insulated from market conditions
and should deliver stable profits. With five core businesses, adding the Electric Power business, namelyhydroelectric power generation, we are striving to further increase corporate value by building a businessportfolio that is less susceptible to the market conditions for ferroalloys.
The Medium/Long-Term Business Plan formulated in November 2023 calls for executives and employees towork together to realize Our Ideal State in 2030 "a company on a constant quest for a better future bysupporting peopleʼs lives through materials and the environment " under the basic policy of "balancing
solving social issues through business activities and enhancing corporate value through sustainable growth".
We intend to steadfastly search for solutions to management issues by leveraging the Groupʼs strengths tothe maximum extent and using every bit of our management resources. In addition, we will continue
exploring new avenues to the future by providing a consistent supply of high-quality products anddeveloping and delivering new technologies while providing new products.

Contents
1Company Overview

2 3 Nippon Denko—Surrounding You in Your Daily Life

6

Incineration Ash Recycling Business

7

Aqua Solutions Business4

Ferroalloys Business

8

Electric Power Business

5Functional Materials Business

9Research and DevelopmentCompany Overvew■Name: Nippon Denko Co., Ltd.

■Stock exchange listing: TSE Prime Market■

URL: www.nippondenko.co.jp/en/■

Executive Management統合■History

1925

Established Nippon Denki Yakin Co., Ltd.

1934

Established Toho Denka Co., Ltd.

1934

Established Chuo Denki Kogyo Co., Ltd.

1963

Merger to form Nippon Denko Co., Ltd.
(Nippon Denki Yakin and Toho Denka merged)

2014

Merger with Chuo Denki Kogyo Co., Ltd.
(Nippon Denko and Chuo Denki Kogyo incorporated)■

Group Companies■

LocationsToyama Plant

Hidaka Office
Horomangawa
Hydroelectric Power Plants(Imizu Area / Takaoka Area)
Myoko Plant
Tokushima Plant
R&D Laboratory

President & CEO

Yasushi Aoki

Koriyama Plant
Osaka Office
Head Office(Tokyo)Kashima Plant

1

Nippon Denko—Surrounding You in Your Daily Life

Here are our products and services
utilized in our daily life.

Hydroelectric
power plants

Automobiles
Steel plates
for auto bodies

Buildings
H-shaped steel

Hydrogen stations
Pure water production

HYDROG

Recycling ofincineration ash fromwaste incineration
plantsEN

H2

Railways
Rails/Wheels

HY

Ene-Farm
DROG

Plant wastewater
treatment

EN

H2

Pure water production

WA
INCSTEINE
RATION
PLANT

BridgesH-shaped steelAutomobiles
Electroniccomponents

HEV and EV
Batteries/Motors

Smartphones etc.
Electronic components

Ships
Hulls/Piping

Bridge wires

WELCOME

Large displays
Glass panels/Printed wiring boards

Ferroalloys

Functional Materials

Responsibilities as the leading manufacturer

Technology to create the future

Ferroalloys are the most important materials due to their use as additives to all steel to improve
properties such as strength, toughness, heat resistance, and anti-corrosiveness. Although werarely see it in everyday life directly, ferroalloys are one of the materials that are indispensable foran aﬄuent life. In particular, high-carbon ferromanganese, the main product of Nippon DenkoGroup, is an essential material for major steel products such as automobiles, ships, railways, andbuildings.
With our production bases in Tokushima and Malaysia, we harness our proven technologies andtime-tested techniques to provide our customers with stable supplies of high-quality manganese.
Our portfolio includes not only ferromanganese but also other ferroalloy products. These quality
products have been well received by our customers, sustaining our reputation as a leading
manufacturer of ferroalloys. In this way, Nippon Denko Group is supporting peopleʼs daily lives
through ferroalloys.

We produce unique, high-performance, high-quality materials that are used in electronic parts andbatteries, etc. on the strength of our long-cultivated electric furnace operation technologies.
Zirconium oxide and manganese inorganic chemical products for electronic parts, cathode materials
for lithium-ion batteries, metal hydride alloys for batteries, and ferroboron for motors of EV, thoseadvanced materials are contributing to the realization of a sustainable society and supporting ourdaily lives.

Products・High-carbon ferromanganese・Low-carbon ferromanganese（SLP）
・Silicomanganese・FerrosiliconTapping from electric furnace

Ferromanganese

Products・Zirconium oxide
・Boron oxide

・Metal hydride alloys
・Ferroboron

・Manganese inorganic chemical products

・Cathode materials for lithium-ion batteries

Tokushima Plant

4

Zirconium oxide

5Incinerated Ash Recycling

Aqua Solutions

Most incineration ash generated by waste incineration furnaces in municipalities is disposed ofin landfills. As a result, the valuable resources contained in the ash are not reused, and thereare also concerns that it would be difficult to secure new landfill sites.
To resolve this problem, we melt and solidify this incineration ash using dedicated electric
furnaces, and in this way, we are contributing to the achievement of sustainable development
goals (SDGs) by deploying a perfect recycling business in which generated slag (ECOLAROCK)and valuable metals are recycled.
In addition, by melting incinerated ash at high temperatures, dioxin is decomposed and heavy
metals are detoxified and stabilized, helping to protect the environment.

We contribute to the achievement of a recycling-based and decarbonized society by providing
wastewater treatment equipment that purifies and recycles wastewater and utilizes technology torecover valuables and recycle resources to promote water and resource recycling, in addition to apure water production system that supplies the high-purity water indispensable for hydrogenproduction.

Perfect recycling

An affluent society with water and environment

Products
・Wastewater treatment equipment
By recovering metals and impurities inwastewater from plating, coating, andautomotive industries, we can reuse them as
deionized and pure water.
In addition, we are working to recycle boron,nickel, and other materials collected at ourHousehold waste

recycling plants.
Waste incineration plant

Life in society

Building
a recycling-based society
MetalsIncinerator ash(dedicated carrier vehicles)

ECOLAROCKND MINICHROPACK(Wastewater Treatment Equipment)

Melting and solidification

ProductsProducts

・ECOLAROCK (molten slag)

・Pure water production system

・Molten metal

Leveling material for solar panel installation

6

It is used for on-site purified water
manufacturing for hydrogen stations, etc.
Demand for high-purity water (forcleaning, mixing, inspections, and otheruses) continues to rise as industrial products
become more advanced and it is used formaintenance for biomass power plants, andother industrial applications.

Molten slag

MR PACK(Pure Water Production System)

7

Research and Development

Electric Power
Green energy
We have two hydroelectric power plants in the Horomangawa River System located in theHidaka region of Hokkaido. Hydroelectric power generation has a high profile as a renewablegreen energy source with no CO2 emissions and the facilities have been approved for theFeed-In Tariff (FIT) system for renewable energy. The Horomangawa River system is locatedin the rich natural environment of the Mt. Apoi Geopark-a UNESCO Global Geopark-in the townof Samani.
By engaging in a renewable green power generation business with environmentallyconsciousness, we will secure stable earnings and contribute to society by supplying electricity
to neighboring communities.

No. 2 Power Plant Dam

R&D policy
The Nippon Denko Group strives to develop new products on the strength of technology
for smelting and refining metal and manufacturing chemicals in addition toresearching environmental technologies that promote environmental conservation andresource recycling.

R&D structure
The Nippon Denko Group has created an effective research and development system throughrobust collaboration between its two constituent groups ― a Research Group that carries out
research and development, and a New Product and New Business Group that anticipates
customersʼ needs and explores research topics ― and the plants that apply the outcomes ofthe development.

Promoting research and development based on
robust collaboration between groups
New Product and New Business GroupAccommodates customersʼ requests and explores research topics・Tracks the latest market trends・Strengthens relations with customers
・Matches our technology seeds with customers'
needs・Explores and proposes research topics

Horomanagawa No. 3 Power Plant Dam

8Research GroupPlant Division

Carries out research and development

Applies the outcomes of development

・Each team focuses on topics of research
and moves forward with development after
identifying the target outcomes
・Teams are assembled flexibly toaccommodate the importance of the topic
at any given time・Manufactures newly developed products
・utilizes newly developed process
technologies and solutions

9Nippon Denko C o. , Ltd.
4th F lo o r, T o k y o Tat e m o n o Yae su Bu i l di n g , 1-4-16 , Y aesu, Chuo- ku, Tokyo, 1 0 3 - 8 2 8 2 , Jap an
http s :/ / w w w . n ip po n de n ko .co .j p/e nJune 2 0 2 4