Vision

MissionValue

Contents
About Sanix Group

5

Editorial policy

Sanix Group Business Area
Sanix Group through numbers
Sanix Group through the picture
Business of Sanix Group
History of Sanix Group

6
7
8
10
12

Sanix Group Value Creation

14

Materiality
Value creation process

15
18

Sanix Group Growth Strategy

20

Message from the President
Outline of medium-term management plan
（FY2023〜2025）
Value creation story in the Residential
Environment segment
Value creation story in the Energy segment
Value creation story in the Resource Circulation segment

21
28

Management Foundation that supports
sustainable growth43

Sustainability in business activities
Sustainability about people (education)
Sustainability about people (employment)
Sustainability about people（occupationalsafety and health）
Sustainability about people (customer
satisfaction)
Social contribution activities
Sustainability data
Management system
Corporate governanceCompliance • Risk management

44
46
47
48

It is edited as an integrated report for the purpose of deepening the understanding of stakeholders about the business content of "Environment and Energy" that Sanix Group is working
on and the process of realizing a comfortableenvironment for the next generation throughthis business.
In ﬁscal year 2022 (ending March 31, 2023),
the Sanix group formulated a new medium-term management plan, but due to theuncertain outlook considering the recent global
situation, we have decided to reconsider our
medium-term business development and outlook for the year. In this integrated report, we
also provide an overview of the medium-term
management plan announced in May 2023,
following this reconsideration.
For detailed information on products,
services, business details, ﬁnance, etc., pleasecheck our website. (See p.74)
This report has been edited with reference tothe "International Integrated Reporting Framework" of the International Integrated Reporting
Council (IIRC) and the "Value Co-creation Guidance" formulated by the Ministry of Economy,
Trade and Industry.

Data Section

67

Financial data highlights
Share information
Company information

68
73
74

32
36
38

50
52
58
60
62
64

Picture on front coverThis is the award‐winning artwork of the in-house competition "Painting Contest 2023" ( targeting children of
employees).
【Message】
I believe that if each one of“the future supported by everyone” us thinks and does what we
can do little by little, we will
have a wonderful future.
I put this message on a soap
bubble because I want to think
about the environment, do
what I can do, and tell others
about it.May the future be
ﬁlled with smiles.
What my father does is cool!

4

About Sanix Group

Report target period, etc.
■ Target period: FY2022(April 1, 2022-March 31, 2023)■ Target organizations: SANIX Inc. and domestic and overseas consolidated subsidiaries■ Accounting Standards: For the time being,
Japanese standards will be applied. Regarding the application of International FinancialReporting Standards, we will take appropriate
measures in consideration of various domestic and international situations.

Precautions regarding future prospects
Forward-looking statements, such as performance forecasts, contained in this integrated
report are not intended to guarantee future
performance and are based on certain assumptions and management's judgment based on
currently available information. Therefore, due
to various factors, the actual earnings and business results at a future point in time may diﬀer
signiﬁcantly from the statements regarding thebusiness forecast. This material is not intended
to solicit investment in securities issued by thecompany. Please note that the company shallnot be liable for any loss or debt incurred basedon the information contained in this material.

Sanix Group Business Area
Sanix Group through numbers
Sanix Group through the pictures
Business of Sanix Group
History of Sanix Group

5

HS
ES

HS

Home Sanitation

ES

PV

Photovoltaic

PPS

Establishment Sanitation

SE

Solar Engineering

ERD

Enviromental Resources Development

About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

History of Sanix Group
Sanix Group was founded by the late Shinichi Munemasa (former president), who experienced the environmental hygiene
business in the USA, which was fully established as an industry, and was convinced of its necessity and future potential in Japan.
Sanix Group started out as a termite control company and then expanded its business to industrial waste recycling and solar
power generation in response to increase of demand and has furtherly expanded its business scope from housing to individual

Residential Environment business area

houses, urban city spaces to the global environment. In line with its corporate philosophy of "Clean and Comfortable En-

Corporate slogan
Changed to "for Energy for Environment".
To the "Environment and Energy" company.

Energy business area

vironment for the Next Generation," the Sanix Group will seek to solve social issues and achieve growth in its vastly
expanding business ﬁeld.

（Billion yen）
100

Resource Circulation business area

Business scale(As of March 31, 2023/ Consolidated)
Amount of sales(March 2023)

46.2

Billion yen

Employees

2,054

Sites

people150

With the introduction of CI, Birth of
SANIX Corporate Slogan"FOR SANITARY AMENITY"
To a comprehensive environmental
hygiene management company

Sales trends80Full-scale electric power
retail business

Listed on the First Section of
the Tokyo Stock Exchange

locations

JPY46.2
billion60

Over-the-counter registration ofshares with the Japan Securities
Dealers Association
Solar power generation
business started

tarted industrial
waste treatment business40

JPY10.2
billion

20

Founded1981.3

FY1975

1985

1990

1995

2000

2005

2010

2015

2020

1975 Founded

1980~
Diversiﬁcation fromdisinfection industry

1990~
Industrial waste treatment business started to contributeglobal environment

2000~
The energy recycling power generation business started

2010~
Solar power generation business started to becomean "environment・energy" company.

1975

1982

1991

1998

2000

2003

2010

2015

Sanyosanitation Inc.

General training center andresearch institute opened(Fukuoka Prefecture)

Opened an equipment
manufacturing factory

Takeo B factory for chemical
manufacturing established

Organic waste liquid
treatment business started

Completion of SANIX ENERGY
Tomakomai Power Plant

Established HOKKAIDO SANIX
KANKYO Inc.

Registration Electric retailer
registration(Takeo City, Saga Prefecture)

We have been focusing on
employee education for a longtime, "This is a job that requires ahigh sense of mission andprofessionalism as it is a job thatmakes ﬁlthy and dirty places
clean."

Established our own factory tocreate products that meetcustomer needs.

Operated by SUNAIM Inc., awholly owned subsidiary.

Aiming at the ban on ocean
dumping under the London
Dumping Treaty.

Power generation using fuelderived from waste plastic.
After that, we cleared the issues
one by one and accumulated
know-how.

The Tomakomai Factory (plastic
fuel conversion) was separated
as a subsidiary.

2016

Established a solar panel
manufacturing and sales
subsidiary in Shanghai

Following the complete
liberalization of the electricity
retail business, the electricity
retail business at Sanix Inc.
began.

The termite disinfectionindustry used to disinfect after
its outbreak. We took the ideaof "preventive medical
approach”, which stimulated
potential demand in themarket.

1999
Started fuel conversion
business for waste plastics

1987

In the course of waste
incineration, paid attention to
the high calorie content ofplastic combustion. Started abusiness to recycle plastic thathas been simply incinerated or
landﬁlled as fuel.

SANIX INCORPORATED established
Changed the company name andrestructured the business into a"total sanitation company" thatcreates a comfortable environment.

1978

1994

Founded Sanyosanitation Inc.

Entered the industrial waste
treatment industry

1981
Separated the corporate
environmental hygiene
department from the termite
department

1201991.3

1980

1989
Launched underﬂoor ventilation fan powered by solar cells

Established a new processing
plant in response to the needsof business partners. "In the
future, the vein industry that
puriﬁes waste will become
important."

2001

2009

Thermal recycling operation
Established SANIX ENERGY
Inc.

Acquired Hokuhai Inc. and C &R Inc., which operates the ﬁnal
disposal site.

Started construction of athermal power plant using
recycled fuel from waste plastic.
Established a wholly owned
subsidiary to become theoperating company.

From fuel conversion of waste
plastic to power generation andincineration ash for disposal. An
integrated system within thegroup has been established.

Speciﬁc scale electric powercompany registration
Eighth application nationwide
in anticipation of entering theelectric power business.

SHANRI (SHANGHAI) ENERGYSCIENCE AND TECHNOLOGY
CO.,LTD (100% owned
subsidiary). Started in-houseproduction of solar module andestablished an integrated
system from manufacturing tosales, construction, andmaintenance.

2017〜
Participated in VPP construction demonstration project
Since 2017, participated in the
Ministry of Economy, Trade andIndustry's "Virtual Power Plant
Construction Demonstration
Project Utilizing Consumer
Energy Resources" every year.

2018
Launched a recycled oil
production business within
the waste liquid puriﬁcationand treatment business.

Started solar power generation businessToward the spread andexpansion of solar power
generation, "good product atlower price".

Full-scale entry into theelectric power retail business2014
Established SE Wings Inc. toretail electricity

In 2021, Kitakyushu City selected
the company as a "Kitakyushu Eco
Premium" for products and services
with low environmental impact.

13

About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Message from the President“Clean and Comfortable Environment
for the Next Generation.”

Sanix Group Growth Strategy

Since its establishment in 1975, the Sanix
Group has pursued the creation of acomfortable environment while expanding its
scope from housing to urban spaces and theglobal environment. Environmental initiatives
are now an important global theme. Let us
explain the signiﬁcance of our business and the
direction we are aiming to take, while sharing
our past history and accomplishments.

SANIX INCORPORATED
Representative board of director, President

Hiroshi Munemasa“Clean and Comfortable Environment for the Next Generation.”
Sanix Group's corporate philosophy is linked to the values of our society.

Message from the President
Medium-Term Management Plan (FY2023-2025) Overview
Value Creation Story

In 1975, the Group started out in the sanitation businessfor general households, and has since expanded its businessdomain to include sanitation for businesses, industrial
waste recycling, renewable energy, and various other businesses with the "environment" at its core.
Environmental issues such as global warming, environmental pollution, and resource depletion have now reacheda stage where measures need to be taken on a global scale.
This is clearly reﬂected in the SDGs adopted by the United
Nations in September 2015, the Paris Agreement adopted
at COP21 in December of the same year, and the Circular
Economy Action Plan announced by the European Union(EU). In Japan, starting with the Carbon Neutral Declaration
for the year 2050, various policies have been rapidlychanging to meet the changing global trends.
In addition, the global epidemic of COVID-19 caused
major social changes, forcing a shift in values and structures in various ﬁelds. The Group has also had the opportunity to recognize the necessity and importance of sanitation, our core business, once again.

ally a common value which, we have been pursuing in ourbusiness for many years. Based on the corporate philosophyof “ Clean and Comfortable Environment for the Next Generation”, our group aims to create a society where it iscommon to pass on a comfortable living environment to thenext generation, where it is common to use energy with low
environmental impact, and where it is common to recycle
resources without abandoning.
In line with our long-term vision (announced in May2021), which is focused on the year 2030, we will contribute to the creation of a sustainable society in the ﬁelds of"housing environment," "energy," and "resource recycling"
through our various businesses. We are determined to contribute to the creation of a sustainable society in the ﬁeldsof " Residential Environment," "Energy," and "Resource Circulation" through each of our businesses. The year 2030 is
the target year of the SDGs, and we are determined to contribute to the early realization of the society envisioned in
the goals of the SDGs.

Nowadays, “creating a sustainable society” become glob-

20

21

About Sanix Group(operating income plus depreciation and amortization)
generated by the entire business as a funding source. By
accelerating future growth through these strategic
investments, we intend to further expand the strategic
investment framework and resume dividend payments toshareholders as soon as possible. Major changes always
involve both "opportunities" and "risks. First, we will control"risks" by responding ﬂexibly to changes, and at the sametime, we will seize "opportunities" and lead the company tosustainable growth.

■SANIX Long-term Vision 2030 (announced on 24 May 2021)
Residential
environment

Toward a society where it is common to pass on “a comfortable living environment to the next generation”
Increase in personnel × Expansion of area × Diversiﬁcation of sales methods× Expansion of customer service
Building a system that enables us to make optimal total proposals tailored to the customer's life cycle and building
condition by leveraging the strength of our business model of periodically checking the condition of buildings for both
detached houses and apartment buildings.

Toward a society where it is a common to pass on "energy with low environmental impact"
EnergyIncreasing need for renewable energy × Cost reduction for solar power generation and storage batteries＋①,②① MaintenanceIn addition to manufacturing and installation, build a system that can support all② Reuse and recycling
aspects of operation, including maintenance, reuse and recycling of power planttechnology development
equipment and components.

Resource
Circulation

Toward a society in which it is a common to pass on "recycling resources without abandoning"
Increase in the amount and types of materials received (entrance) ⇔ Advancement of sorting andseparation ⇔ Diversiﬁcation of recycling applications (exit)- Diversiﬁcation of recycling applications for waste plastics (material and chemical recycling in addition to thermal recycling).
- Development of technology for the separation of sludge and oil generated during the treatment of waste liquids and theirconversion into fuel (transition from waste liquid treatment to fuel production).

FY2022 (actual)

FY2030 (target)

Year ending March 2023

Year ending March 2031

Net sales

46.27 billion yen

100 billion yen

Operating proﬁt(Operating proﬁt to sales)

1.78 billion yen（3.9％）

10 billion yen（10%）

Net proﬁt for the year

1.33 billion yen

7.2 billion yen

ROE

24.8%

17%

ROI

8.4％

15%

■Medium-term management plan (FY2023-FY2025)

Response to global warming

Coping with resource depletion(realization of a decarbonised society)(realization of a circular economy)

Towards a sustainable society"Clean and Comfortable Environment
for the Next Generation"(announced on 15 May 2023)

FY2023（Plan）
FY2024（Plan）
FY2025（Plan）（Year ending March 2024） （Year ending March 2025） （Year ending March 2026）
53 billion yen

Net sales

48 billion yen

50 billion yen

Operating proﬁt(Operating proﬁt to sales)

3.2 billion yen（6.7%）

3.2 billion yen（6.4%）

3.0 billion yen（5.8%）

4.8 billion yen

4.9 billion yen

5.0 billion yen

ROE

35.0%

24.0%

16.0%

ROIC

14.0%

12.0%

10.0%

Equity Ratio

22.0%

27.0%

30.0%

＊

EBITDA＊EBITDA：Operating proﬁt＋depreciation expense

22

Growth Strategy

Management Foundation

Data Section

From houses to buildings and condominiums:"Linking Comfortable Living Environments to the Next Generation".

Medium-term management plan (2023-2025) and Long-term vision for 2030

In our long-term vision for 2030, one of our goals is to
grow to 100 billion yen in sales. In addition, amid anuncertain business environment, including the recent sharp
rise in resource and energy prices and the rising cost ofliving due to the yen's depreciation, we have formulated the"Medium-Term Management Plan (for the ﬁscal years
ending March 31, 2024 through March 31, 2026)"(announced in May 2023) to lay the platform for achieving
sustainable growth in our existing businesses. During theperiod of the plan, the Company will set strategic
investment limits and invest in growth, using EBITDA

Value Creation

Our ambition is to create a society where the concept of along, comfortable and secure home is taken for granted andpassed on to the next generation.
The cornerstone of Sanix Group is Home Sanitation (HS)business, which specialized in termite disinfection and otherservices to residential customers. At the time of thecompany's founding, it was common for the industry to deal
with termites only after they had occurred, but we wereable to uncover latent demand by explaining the necessityof prevention, early detection and early countermeasures
before things got worse, which led us establish ourleadership position in the market. Approximately 830,000
homes have been treated with termite disinfection.
Expanded our services to measures against humidity andearthquakes, to serve comfortable and long-lasting houses.
In the ES (Establishment Sanitation) business, thecompany provided environmental sanitation services, suchas water and other maintenance work for buildings andcondominiums, and pest control for restaurants.
There are approximately 30 million detached wooden
houses and more than 2 million apartment buildings inJapan (Ministry of Internal Aﬀairs and Communications /2018 Housing and Land Survey). However, we believe that
housing needs will become more diverse due to increasing
number of vacant houses as well as the declining birthrate,
aging population and of peopleʼs lifestyle. In addition to themaintenance and management of housing, Sanix Group will
expand the scope of our services, by making timely
proposal to our customer in accordance to their lifestyle,and their needs.
In these residential environment areas, we are focusing
on new customer development by strengthening alliances
through workforce reinforcement, education, and businessalliances. Through alliances with agricultural cooperatives,

consumers' cooperatives and mutual aid associations, realestate and construction companies, and retailers, thenumber of business alliances is steadily increasing, as we
provide residential services to their members andstrengthen relationships with building and condominium
management companies and other partners.
Hygiene management business is also one of thefoundations of our business. Together with ourmaintenance service and management business of theliving environment. The scope of this project is not limited
to the residential environment, but extends toaccommodations, commercial facilities, and manufacturing
plants.
In June 2020, the "Revised Food Sanitation Law" will be
enforced, requiring all businesses that handle foodproducts to adopt the concept of sanitation management
methods called "HACCP" in principle. The level of hygiene
required is increasing and is now considered to be a qualityof service in itself. The Sanix Group also provides support
services for the introduction and operation of sanitation
management in accordance with HACCP. We will continue
to promote hygiene management to meet the needs ofsociety.
23

About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Realization of a decarbonized society from both the supply and demand sides of energy

Our ambition is to create a society in which "energy withlow environmental impact" is chosen and used as a matterof course.
Our history with solar panels (photovoltaic modules)
dates back to 1989, when we introduced small solar panels
to power underﬂoor ventilation fans, one of the products
handled by our HS Business Division. The solar panels havebeen installed in a cumulative total of approximately
340,000 homes, and our early success in introducing solar
panels to the market led to the launch of our solar power

generation business in 2009.In developing our solar power
generation business, we have built an integrated systemthat handles everything from procurement to sales, design,
installation, and maintenance, in order to reduce costs,
improve quality, and provide customers with a sense of
security and convenience.
While pursuing higher level of safety and conveniencefor our customers. Since the start of the business, we havesold and installed more than 49,000 residential andindustrial systems, and our total sales capacity, including
wholesale sales, exceeds 1.4.GW (1.4million kW), which isequivalent to one nuclear power plant (as of March 2023).
Renewable energy is positioned as the main source ofpower in the national policy, and to achieve carbon
neutrality by 2050, it is necessary to further increase theshare of renewable energy in the power supply mix. The
needs for the introduction of solar power generation are
diversifying in terms of economic rationality,
decarbonization, and resilience enhancement, and webelieve that the expansion of solar power generation is only
beginning to take oﬀ.
With the increase in electricity prices and the decrease in
the purchase price of electricity generated under the FIT
scheme (Feed-in Tariﬀ Scheme for Renewable Energy), it istime for solar power generation to shift to "use" rather than"sell", in other words, "self-consumption". Although, it has
spread become of merit of selling electricity, it should
spread without relying on favorable treatment bygovernment. We believe that it will the industry can
become self-sustaining when it becomes the energy ofchoice for people without subsidies or preferential policies.
At present, Sanix Group is promoting proposal activitiesof our solar power generation systems to shops, oﬃces,
factories and other business owners, in which electricity
generated by solar power is consumed at their sites own.
In addition, Sanix Group aims to commercialize a solar
panel reuse and recycling business. With the expiration of
the FIT purchase period for solar power generation, a large
amount of used solar panels are expected to be generated
in the 2030s. Therefore, we will promote the veriﬁcation ofsolar panel recycling technology by taking advantage of ouraccumulated knowledge of solar panels and our strength inhaving a nationwide industrial waste disposal network. In
addition, Sanix Group will continue to develop newtechnologies for the recycling of solar panels. In addition,
since 2017, the Group has been participating in a
■ Expansion of total service for solar power generation
Development and manufacturing
Sales
Construction
Upcoming initiatives
Electricity trading(retail - purchase - non-fossil value trading - PPA - VPP)

Additional equipment(storage batteries, panel replacement)

Maintenance(warranty, remote monitoring, paid maintenance)

Reuse - Recycle

Maintenance demand is expected toincrease. The remote monitoring (webmonitoring) service "SANIX EYE"
launched in 2015, is already in use at
approximately 10,000 solar power
plants.

demonstration project (by the Ministry of Economy, Tradeand Industry) to establish a virtual power plant* using
distributed resources (solar power generation, storage
batteries, etc.). The main drawback of solar power is thatthe amount of electricity generated is dependent on theweather, which makes it impossible to adjust the power
supply. Therefore, to realize virtual power plant helps tomeet this drawback and gives momentum to the spread ofsolar power generation. We believe that transforming theunstable electricity produced by installed solar power intoreliable and stable electricity that can support our daily
lives become major step forward to realize decarbonizedsociety. We will continue to work for implementation of
Virtual Power Plants in our society.
＊Virtual Power Plant (VPP): A system in which dispersed
small-scale power generation and storage facilities, such as solar
power generation, storage batteries, and electric vehicles installedat home and factory, are collectively controlled by information
technology as if they were a single power plant (seepages 46).

Meanwhile, the Sanix Group is also engaged in theelectric power retail business: in 2001, with theestablishment of its subsidiary, SANIX ENERGY*, itregistered as a Speciﬁed-Scale Electricity Utility. SANIX
itself began supplying electricity in October 2015, and in
2016, following the complete deregulation of electricity
retailing, began retailing electricity to households as well.
Currently, we have a system in place to supply electricity tofactories, oﬃces, and households throughout Japan,
excluding the service area of Okinawa Electric Power Co.
In FY2021, the soaring prices in the wholesale electricity
trading market (JEPX) led to a signiﬁcant increase in power
procurement costs and a marked decline in proﬁtability. In
response, we have shifted to a business structure thatminimizes market risk and ensures proﬁtability. We havedownsized the electric power retail business and focused on
creating synergies with the solar power generation
business by strengthening the functional aspects of thebusiness. As a result, price ﬂuctuation risk was eliminatedin FY2022. In addition, we sold surplus electricity procured
through relative trading on the wholesale power trading
market, where prices are soaring, to secure proﬁts.
The Group will strive to create an environment in which"energy with low environmental impact" is taken for
granted from both the supply and demand sides, bycreating a mechanism to deliver renewable energy tocustomers while expanding the use of renewable energy
sources for the realization of a decarbonized society.
※SANIX ENERGY Inc. = Operates the SANIX ENERGY TomakomaiPower Plant, which provides power generation services inresource-recycling power generation (see page 39).

Taking advantage of its in-house capabilities from design to construction,
the company is also promoting the introduction of solar power generation
for its own facilities (photo: Ota Plant = Plastics Resource Development
Plant). The company is also utilizing the solar power generation business as amodel case of self-consumption photovoltaic power generation.

24

Drones have been introduced in 2018 and are used for surveying and aerial
photography at construction sites and installation facilities. Approximately
100 employees are registered drone pilots with the Civil Aviation Bureau of
the Ministry of Land, Infrastructure, Transport and Tourism. Regular training
and study sessions are held to ensure compliance with aviation laws.

Browse screen of SANIX EYE25

About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Transition to a circular economy and a decarbonized society,and to a "Non-Disposable" society.
Our ambition is to create a society that "recycling
resources without abandoning" are common values. In
recent years, the shift to circular economy has become acentral issue for sustainable development, along with adecarbonized society. The circular economy is a conceptthat aims to realize resource circulation through recycling,reuse, reproduction, resource-saving product development,
and sharing, rather than a unidirectional ﬂow ofprocurement, production, consumption, and disposal. In
the part the arterial industry had driven economic growth.
Nowadays, the vine industry, which treats and recycles
waste properly in the circle of circulation, holds more
important position in our society.
For our resource recycling business. "Resource recycling
power generation is one of core business"(see page 39).
This unique business involves the recovery of end-of-lifeplastics, their conversion into fuel, and the generation ofelectricity from that fuel. And this resource recycling
power generation is one of the main sources of power
generation for our energy business mentioned above.
Our plastic recycling business was triggered by the factthat we caught the need for waste treatment whileproviding hygiene management for businesses. In 1994,
the company entered the intermediate treatment ofindustrial waste. In the course of incineration*, we noticed
the high calorie content of plastics, which led us to the fuelconversion business and a power station business to utilize
them as fuel.
When we started the business in early 2000s, half of thewaste plastic generated nationwide was simply incinerated
or disposed of in landﬁlls. Around 87% of waste plastics is

eﬀectively used (Japan Plastic Recycling and Reuse
Association) today (FY2021).
Approximately 4.05 million tons of industrial waste
plastic is discharged annually, of which 2.52 million tons, or
62%, is thermally recycled (energy recovery) in Japan. (seeabove). 300,000 tons of waste plastic are collected by us at
15 factories nationwide, and produce 200,000 tons of fuelof which 150,000 tons are used annually as fuel at the
SANIX ENERGY Tomakomai Power Plant (our subsidizing),
in Tomakomai City Hokkaido. The amount of electricity
generated is equivalent to the electricity consumption of
about 55,000 ordinary households, meaning that fossil
fuels are not needed to generate this amount of electricity.
In addition, this power plant has been certiﬁed as a
non-fossil power source since FY2020, and we have begun
trading the environmental value of non-fossil electricity.
In addition, in the sorting process of waste plastic fuel,we sort out those suitable for plastic materials, process
them in cooperation with partner companies, turn them into
plastic materials, and promote material recycling to makerecycled products such as pallets, hangers, and bags fromthese materials. In the future, we plan to install equipment
for material recycling, and we are also considering thepossibility of building a system that allows us to convert
plastic raw materials into recycled products in-house. This
will enable us to respond more ﬂexibly to our customersʻrequests to reduce their environmental impact, such as
reducing CO2 emissions and maximizing the eﬀective use ofresources. In April 2022, we launched the “SANIX
system,” a centralized management system for waste
disposal operations. The system was designed with theknowledge gained from our involvement in waste
management and is equipped with the functions requiredby our customers. The system supports the appropriate andeﬃcient execution of operations, from the management ofcollection requests and disposal status to the use of data
and thorough compliance. In addition, the visualization ofwaste-related operations will be eﬀective in identifying andimproving issues such as cost optimization and promotionof environmental management. By providing this system,
we intend to contribute to the construction of a sustainable
society by reducing CO2 emissions through the optimizationof collection and transportation frequencies and disposal
methods, and by promoting resource recycling throughsorting.
In the ﬁeld of resource recycling, we are also working onan organic liquid waste treatment business (Hibiki factoryin, Kitakyushu City, Fukuoka Prefecture). Since 2000, we
have been purifying more than 100,000 tons of sludge and＊Industrial waste intermediate treatment (incineration) factory …Kitakyushu
factory. Transferred to the 3rd party in 2007.

26

waste beverages discharged from food factories by
microbial treatment. Currently, our customerʼs locations
are widespread to Kansai area and Kanto area.
In addition, this business is not limited to mere treatment,
but also promotes the recycling of oil and sludge fromliquid waste into fuel. In the future, we intend to shift to aplant where fuel production is the main process. In 2018,
we started manufacturing "Recycled Oil Bio," recycled oil
produced by separating and recovering oil from grease
traps* and marketing it as an alternative fuel to heavy oil.
In 2020, we will also begin a full-scale feasibility study on
the conversion of waste sludge into fuel and are preparing
to oﬀer it to consumers as a fuel for biomass power
generation. The conversion of waste liquids into fuel will

also make it possible to expand the range of acceptablewaste liquids, such as those containing large amounts of oiland sludge.
In November 2021, "Recycled Oil Bio" was selected as"Kitakyushu Eco-Premium for FY2021," and in March 2023,
it was certiﬁed as the "15th Fukuoka Prefecture Recycled
Product. We have received numerous inquiries from
customers, and we intend to expand our facilities gradually.
Through these businesses, the Sanix Group willcontribute to the creation of a resource-recycling anddecarbonized society.
＊Grease trap: A grease separator that separates and collects grease
and food scraps contained in kitchen wastewater.

■The transition from liquid waste puriﬁcation treatment to recycled fuel production.

Recycled Oil Bio" is a fuel substitute for heavy oil, madeby separating only the oil content from liquid waste
discharged from restaurants and food factories. As a
product with low environmental impact, it has received
oﬃcial recognition, including the "2021 Kitakyushu
Eco-Premium" and "15th Fukuoka Prefecture Recycled
Product.

Conversion of sludge generated in the
puriﬁcation process into fuel, for which
demonstration tests are being conducted. Sludge
left over from the dehydration of organic
wastewater is desalted, dried, and recycled as a solid
fuel to replace fossil fuels.

Human eesource development to support our businessWe believe that the quality of each individual engaged inthis work is directly related to the quality of our services, so
we have been focusing on employee education since thebeginning of our company, based on our management philosophy that "work is education and education is management. We established its own training center and a department for employee education in its seventh year of operation. Since then, we have consistently considered the development of human resources to form a group of experts witha sense of mission, motivation and a wealth of specialized
knowledge as one of our challenges, and we have beenworking on human resource development by constantly
renewing our training programs.

As it is diﬃcult to conduct group training due to the pandemic of COVID-19, New methods, such as online-based
training, are being introduced as we move forward.
In addition, we believe that to provide good service thatsatisﬁes our customers, it is essential to have a work environment where employees can work energetically. Therefore, in addition to employee training, we also strive tocreate a pleasant work environment.
We will contribute to the creation of a comfortable environment for the next generation by striving for technological innovation and the development of high value-added
services while placing importance on the safety, health, andcompliance of our employees.
27About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Outline of medium-term management plan (FY2023-FY2025)
Despite the uncertain business environment caused by soaring resource and energy prices and rising prices due■ Medium-Term Management Plan summary

to exchange rate ﬂuctuations (yen depreciation), the Sanix group has formulated the "Medium-Term Management
Plan (FY3/2024-FY3/2026)" as a period to lay the foundation for sustainable growth of existing businesses.

■ Sanix Long-Term Vision 2030 and Mid-Term Management Plan
Positioned as a period to set a growth path toward the achievement of the long-term vision▶Increase earnings strength through steady growth in existing
businesses and secure a stable financial base.
▶Establish a strategic investment framework while ensuring
financial soundness and initiating aggressive growth investments
for future growth.

Medium-Term
Management Plan
FY2019 to FY2022【FY2022】Net sales
53 Billion
Operating Incomeme
3 Billion
EBITDA*
5 Billion
ROE
15％(or more)
Equity ratio 30％(or more)

Long-Term
Vision2030

Expansion of business opportunities▶ Expansion of business opportunities▶ Obligation to improve the environmental value ofresidential housing▶ Transition to a resource-recycling economy

Expansion ofstrategic
investments▶ Creation of more new businesses
in the environment, energy, andrecycling fields

Full-scale launch of start-up business
Creation of new businesses▶ Creation of new businesses inthe environment, energy, andrecycling sectors▶ Moving onto a stable trajectory oflaunching businesses andgrowing them into businesspillars＊EBITDA is operating Income + depreciation.

■ Environmental Analysis and Identiﬁcation of materiality
Business environment

Material issues

Residential
Environmentarea㾎Government policy on the revitalization of the existing housing market
㾎Government policy oriented toward improving the quality of housing
stock from the perspective of decarbonization (e.g., mandatory installation of photovoltaic power equipment, popularization of ZEH homes, etc.)
㾎Growing awareness of, and need for, hygiene in housing during the
COVID-19 pandemic
㾎Accelerate measures to address aging buildings and condominiums

㾎Establishment of a system for providing services that
contribute to reducing the environmental burden andimproving the environmental value of housing, such asenergy conservation in housing㾎Promotion of eﬀective use of existing housing resources, such as the lengthening of the service life of houses,
buildings, condominiums, etc., and remodeling

Energy area

㾎Growing trend toward carbon neutrality in local communities and businesses
㾎Full-scale use of renewable energy in response to rising energy prices,
tight power supply and demand, and growing environmental awareness㾎Promotion of development of power sources capable ofmeeting renewable energy needs
㾎Establishment of photovoltaic power generation as astable power source to become a sustainable social
infrastructure㾎Growing global awareness of issues related to plastic waste
㾎Advocating the transition to a circular economy for society as a whole㾎Stronger calls for companies to properly dispose of waste and promote
recycling㾎Development of new recycling methods
㾎Reviewing of the entire lifecycle of plastics and buildinga recycling system that contributes to the transition to acircular economy

㾎Sophistication of demands for corporate governance㾎Stronger requirements for ESG indicators and nonﬁnancial information
disclosure

㾎Strengthening of ﬁnancial base㾎Response to governance structure requirements
㾎Securing and development of human resources forplanning and development in each area

Resource
Circulation Area

Sanix Group28

５３

CAGR（2023➡2026）

５%

FY2022 Results

４６.２

BillionOperating Income

３

CAGR（2023➡2026）

２０%

FY2022 Results

１.７

BillionBillionBillionFY2025 forecasts

EBITDA

５

CAGR（2023➡2026）

１１%

FY2022 Results

３６BillionEquity ratio

３０ % (or more)＋１２Points

BillionFY2022 Results

１８．０

%

【FY2030】
Net sales
100 Billion
Operating
Income Margin 10％(or more)ROE
17％(or more)
ROIC
15％(or more)

Creation of new businesses
Execution ofstrategic
investments

Net sales

FY2025 forecasts

Net sales
Operating Income Margin
ROE
ROIC

Net sales
46.2 Billion
Operating Income 1.7 Billion
ROE
24.8％
Equity ratio
18.0％

FY2025 forecasts

Rapid growth period

Growth acceleration period

Medium-Term
Management Plan
FY2023 to FY2025【FY2025】

2FY2025 forecasts

１．Increase earnings strength through steady growth in existing businesses and secure a stableﬁnancial base.
２．Establish a strategic investment framework while ensuring ﬁnancia l soundness and initiating aggressive growth investments for future growth.
３．Pave the way for an early resumption of dividend payments by accumulating stable
proﬁts.
■ Strategic Investment Approach● Set strategic investment frameworks and invest in growth, using EBITDA generated by theentire business as a source of funds.
● Accelerate future growth through strategic investments, further expand the strategic investment framework, and resume dividend payments as soon as possible.
A strategic investment framework is set up
by excluding from EBITDA generated by operations base investments (renewal of facilities andinfrastructure of existing businesses, etc.) andcash to maintain ﬁnancial soundness.

A strategic
investment
framework
EBITDA
generatedfrom
operations

Investment forbusiness foundation

Ensuring ﬁnancial
soundness

Accelerating
growth throughstrategic
investments

Further expansion ofstrategic investment
framework

A strategic
investment
framework
EBITDA
increase due
to businessgrowthShareholder
returns
Early resumption ofdividends
Investment forbusiness foundation
Ensuring ﬁnancial
soundness29About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Medium-Term Management Plan (FY2023-2025) Overview■ Resource Allocation■ Sales and Operating Income Plan by Business Domain(Billions of Yen)

● The earning power of the entire business will increase during the plan period and three-year
accumulated EBITDA is expected to be 14.7 billion yen.

(Consolidated)● The portion excluding debt repayment and facility renewal are considered to be the within thelimit for strategic investment and funds are allocated for growth.

FY2022
Results

FY2023Plan

FY2024Plan

FY2025
Plan

46.2

48.0

50.0

53.0

Net Sales

15.7

Residential Environment

Total EBITDA for
FY2023-FY2025
allocation of¥14.7 billion

Set up a strategic investment frameworkof 4.8 billion yen over 3 years.
Capital expenditures(existing expansion, new)・Entry into the material recycling business・Expansion and construction of waste-to-fuelfacilities
・Improvement of power generation performanceat Tomakomai Power Plant

Allowance forstrategic
investment¥4.8 billion

R&D investment

Total EBITDA for
Investment in facility
FY2023-FY2025
renewal¥14.7 billion

・Solar cell module recycling demonstration
・Securing of highly specialized human resources
・Active recruitment and training of humanresources

Debt repayment¥5.2 billion

14.0

12.4

14.6

16.5

Resource Circulation

16.5

18.1

17.0

17.0

30.0

Operating Income

1.7

3.2

3.2

3.0

Residential Environment

1.4

2.2

2.3

2.5

Energy

0.2

0.1

0.4

0.9

Resource Circulation

3.1

3.6

2.9

2.1

（3.0）

（2.7）

（2.6）

（2.5）

20.0
10.0
0

Group

170

530
170

165

181

140

124

146

157

173

183

193

FY2022

FY2023

FY2024FY2025Results

Plan

Plan

Plan

165

■Residential Environment Area ■Energy Area■＜Resource Circulation Area

Topic

Research and development of new business〜 Start demonstration recycling of used photovoltaic panels 〜

FY2025 Plan

４６.２

４８.0

５０.０

５３.0

Operating Income

１.７

３.２

３.２

３.０

EBITDA*

３.６

４.８

４.９

５.０

ROE

２４.８%

３５.０%

２４.０%

１６.０%

ROIC

８.４%

１４.０%

１２.０%

１０.０%

１８.０%

２２.０%

２７.０%

３０.０%

Assuming that a large amount of used solar panels will be generated in the 2030s, establish a technolo-

gy veriﬁcation line with the aim of commercializing a solar panel reuse and recycling business byleveraging our knowledge of solar panels and our strength in industrial waste disposal networks.
Panel disposal forecast in Japan

Huge amount of solar panel shipments accumulated in the photovoltaic power generation businessIn the 2030s,● End of FIT period● Panel life
Panel disposals are expected
to increase sharply due tofactors such as● Residential : Approx. 20,000● Business use: Approx. 29,000● Cumulative total 1.4 GW● Cumulative shipments of approximately 5 million panels

Panel recycling image
RemovalFY2024 Plan

Equity ratio

Energy

40.0

462

500

(Billions of Yen)FY2023 Plan

Net Sales

50.0

19.3

480

M&A, alliances, etc.
・Acceleration of growth (area and service
expansion)・Synergy creation■ Medium-Term Management Plan
（Projections）
FY2022 Results

18.3

60.0

Investment in human capital¥4.7 billion

Total EBITDA for
FY2020-FY2022¥5.9 billion

17.3

Consolidated Net Sales by Business Domain(Billions of Yen)

Aluminum frame
Metal recycling

Wiring
Metal recycling

as of March 31, 2023

＊EBITDA is operating Income + depreciation.

Consolidated Net Sales and Operating Income（Billions of Yen)
65.0

6.7%

55.0

2.4%
50.7

4.7%

52.5
49.4

50.0

5.8%

（%）

8

40

6

30

3.9%
53.0

50.9
46.2

48.0

50.0

4

10
0

40.0

-2

35.0

-4

30.0

20

2

45.0

-5.1%
FY2018Results

FY2019Results

FY2020Results

FY2021Results

FY2022
Results■Net Sales(Excluding PPS) ■Net Sales(PPS)

30

（%）

FY2023Plan

FY2024Plan

FY2025Plan-6

Operating Income Margin

27.0%

24.5%
18.5%
13.4%

Utilize our nationwide network ofindustrial waste treatment andrecycling sites.

18.0%
13.5%

10.8% 11.2%

30.0%
Plastics Resource Development Plants
Electric Power Plant
Waste Water Processing Plant
Landﬁll

22.0%
14.0%

8.4%

12.0%

10.0%
Niigata factory

2.3%

22 thousand t

Himeji factory
Kasaoka factory
Hiroshima factory0
6 thousand t
3 thousand t

-10
-20

FY2019Results

FY2020Results

FY2021Results

Equity ratio

Ota factory
Hino factory

C&R Landﬁll

Cell sheet
Extraction of silver
and other metals byrefining

SANIX ENERGY
Tomakomai
Electric Power Plant
Tagajyo factory
Fukushima factoryMoka factory

Hibiki factory
Hitachinaka factory
Sodegaura factory
Fuji factory-14.6%FY2018Results

HOKKAIDO SANIX
KANKYO Inc.
Tomakomai factory

Splinters of glass
Glass fiber,
roadbed materials,
etc.

Glass detachment

Pulverizing

5.3%

60.0

6.4%

170 〜 280
thousand t

ROIC and Equity ratio

FY2022
Results

FY2023Plan

FY2024Plan

FY2025Plan

FY2020 FY2025 FY2030

FY2036

Suzuka factory Okazaki factory＊Source: Processed data from NEDO estimates

ROIC

31

About Sanix Group

Value Creation Story (Growth Strategy)
in the Residential Environment Area

Value Creation

Growth Strategy

Management Foundation

Data Section

Customer Testimonials

Strengthen corporate sales (cultivation of business partners) system• Expand new customer channels and improve sales productivity through expansion of business partners.
• Increase sales capabilities and service quality through enhanced retention and development of human resources.

In our ancestral HS business (service for detached houses), we have pest control for over 800,000 customersʻ homes since our establishment in 1975. During
the ﬁve-year term of our termite disinfection warranty, we conduct regular(Billions of Yen)

<Mid-term Management Plan by Segment>
FY2022 Results

20

15,00015

10,000

10

5,000

5

0

18.3

19.3

tion (in no particular order). We are grateful for the support of our many cus-

HS

11.4

12.8

13.4

14.0

tomers and will continue to strive to provide services that satisfy them.

ES

2.5

2.6

2.8

3.0

SE

1.7

1.9

2.1

2.3

Operating Income

1.4

2.2

2.3

2.5

200

Operating Income Margin

53ＪＡ

116

■ Aﬃliated JA

361■ Alliance for collective
housing

116 Corporation■ Alliance for individual
customers

Alliance for individual customers

0

Alliance for collective housing

361 Corporation

FY2017 FY2018 FY2019 FY2020 FY2021 FY2022＊Japan Agricultural Cooperatives<Our strengths and external environment>＜Our strengths＞● Stable revenue base based on ongoing
business relationships with customers● Human resources with both high sales
capabilities and construction skills● Sales network rooted in local communities＜External environment＞● Government policy that forms high-quality housing stock and emphasizes theuse of housing stock, including home renovation and existing home distribution● Expansion of demand for housing maintenance and hygienic environments
generated by the COVID-19 pandemic● Growing need for photovoltaic power generation for residential housing due tothe steep rise in electricity fees and growing environmental awarenessImprovement of corporate marketing

Housing Policy Trends
Total number of housing units: approx. 62 million, of which wooden single-family
houses: approx. 29 million (including vacant houses)● With the number of new housing starts expected to shrink against the backdrop of adeclining population and other factors, the Company has shifted to a policy of improving the quality of existing housing and emphasizing the use of existing housing.
● In addition, the policy is to promote energy conservation from the perspective of
decarbonization.
Use of existing houses

Promotion of decarbonization
Remodeling investment as apercentage of housing
investment

（%）

80

80
Extending life

60

60

40

40

20
0

38.2
JPN

55.9
USA

73.2

UK

0

performance(Windows, insulation, etc.)

Renovation

20 26.7
JPN

55.7 53.0
UK

FRA＊Source: Processed data from statistical data from Ministry of Land,
Infrastructure, Transport and Tourism.

34▶ Photovoltaic power generation▶ Storage batteries▶ Improved thermal insulation

Market revitalization forboth new and existingbuildings given a trend towardmandatory construction andexpansion of support (subsidy)
programs, etc.

Partnercompanies/
organization

Tie-ups(Year)(Energy conservation)

In addition to strengthening the sales style ofindividual visits, the corporate sales system will be
expanded to broaden the scope of sales and respondto diverse needs.

Introductions, etc.

Average number of years fromthe time of construction to
the destruction of houses

Satisﬁed with customer-oriented response and attitude

I never see what is under the floor by myself,
so it was good to be able to see the images on
the spot so that I could understand it better.
They also answered our questions in detail,which was helpful for our future reference.
Mr. I in Hiroshima (December 2022)

I am satisfied with the customer-oriented attitude and response regarding the replacement of
the inspection. I was also satisfied with thepleasant workers' movements. Thank you to all
the inspectors and replacement installers. Good
luck with Sanix, of which we are even more
proud!
Mr. H in Hyogo (October 2022)

Excellent work and courteous service.

Overwhelmed by the work ability.

As always, I appreciate the sincerity of theemployees. I also like their courteous work. It
has been more than 30 years since we started
our relationship at the beginning of the Heisei
era, and we look forward to a long-lasting business relationship with you in the future. Thankyou very much for your help today.
Mr. H in Kagawa (January 2023)

I was overwhelmed by the work capacity of theactual section chief who did the work. Please
convey my best regards!
Mr. T in Wakayama (November 2022)

Aﬃliated JA*
53

400

Good to see images of what is under the
ﬂoor, something I never get to see myself.

(as of March 31, 2023)

600

FY2021 FY2022 FY2023 FY2024 FY2025
ResultPlan■SElist of customer feedback regarding periodic inspections and termite disinfec-

Number of Aﬃliates

0■HS ■ESFY2025 Plan

● Net sales are expected to rise 3.6 billion yen from FY2022, to 19.3 billion yen.
● Operating income is expected to be 2.5 billion yen, reflecting improved profitability thanks to the increased productivity, although personnel and otherexpenses will rise with the headcount increase.
● The headcount is expected to increase by approximately 170 to over 1,200 overthe next three years.

（%）

20,000

FY2024 Plan

17.3

15,748 Million

25

FY2023 Plan

15.7

FY202225,000The following is a partial

Net Sales
Net sales（million yen）

inspections once a year to provide peace of mind.

SANIX<Partnership examples>・JA, Co-op and other organizations
・Real estate management company
・House builders, construction
companies, etc.

Expand improve sales
productivity through expansionof business partners.

individual sales

Customers

Very satisﬁed with the inspection and the explanation!
Even though this year's inspection was delayed
due to our circumstances, we received many
polite phone calls. I was very satisfied with theinspection and explanation on the day of theinspection. I was not feeling well on my feet andlegs, so they helped me clean up the mess.
Thank you very much.
Mr. U in Osaka (December 2022)

Always pleasant and explanatory.
We only see them once a year on the inspection
day, but they always explain everything pleasantly, so we decided to continue with them thistime.
Mr. S in Fukuoka (December 2022)

A lifetime partner for consultation and peace of mind.
Look forward to working with you as a lifelong
partner. Feel at ease because I can consult withyou.
Mr. T in Yamaguchi (March 2023)

The explanation with photo images waseasy to understandPhoto business cards with a face to give youa sense of security

The explanation of the work was detailed andeasy to understand. The termite inspection was
well done and I was satisfied. I look forward toworking with you again in the future.
Mr. S in Kagoshima (January 2023)

Business cards with a picture of your face forpeace of mind. I think it is polite and good.
Mr. W in Aichi (October 2022)

Friendly, easy to ask questions, andimpressed with the mannerConsiderably thorough investigation under
the ﬂoor
The underfloor was investigated quite thoroughly and photos were taken very closely. The
explanation was very detailed and easy to understand based on the floor plan.
Mr. N in Nagasaki (November 2022)

Courteous and prompt in responding to ourquestions. Friendly, easy to ask questions, andimpressed with the manners of the staff, suchas going through the living room without stepping on the carpet. I will consider signing a contract when the opportunity arises. Thank youvery much.
Mr. O in Ehime (November 2022)

35

Promote the effective use of waste
plastics and contribute to the creationof circulation-oriented society.

About Sanix Group

Waste liquid puriﬁcation treatment by microorganisms, recycling of oil and sludge

Along with the recycling-oriented power generation business(conversion of plastics into fuel and power generation using thisfuel), another resource recycling business is the purification andtreatment of waste liquids.
The Hibiki Factory (Kitakyushu City, Fukuoka Prefecture, started
operation in 2000) is the largest facility in Japan specializing in thetreatment of liquid waste. It is capable of treating 1,300 m³/day oforganic and inorganic liquid waste from food factories and otherplants, and can accept large volumes of liquid waste by ship anduse 4,800 m³ of storage tanks for short notice acceptance.

Organic dehydrated
sludgeInorganic dehydrated
sludgeRecycled oil

Cement raw material

Boiler and ﬁring
furnace fuel<Medium-term Management Plan by Segment>

Hibiki factory

NagoyaOmaezaki

Osaka

Specially controlled industrial waste（Strong acid / Strong alkali）

Dehydrator

Neutralization process

Dehydration

Dewatered sludge(recycle)

There are many types of waste liquid,
and it contains various components.
Before the processing process, weanalyze the properties and performreliable and appropriate processing.

Industrial waste （Sludge, waste acid, waste alkali,

animal and vegetable residues）

Storagetank

Filtrate Pit

Puriﬁcation

Dewatered sludge(recycle)

To the Receiving Pit（★）

Recycled oilproduction（waste oil・sludge）

storage Pit

Centrifuge

Centrifuge

Solid-liquid
separation

Oil-water
separation

Recycled oil

FY2023 Plan

FY2024 Plan

FY2025 Plan

Net Sales

16.5

18.1

17.0

17.0

Net sales

Plastic fuel

10.3

10.4

10.7

10.9

FY2022

Power Plant

3.1

4.8

3.4

3.0

16,518 Million

Waste liquid treatment

2.0

2.1

2.3

2.5

Landﬁll

1.0

0.6

0.6

0.6

Operating Income

3.1

3.6

2.9

2.1

（%）

（million yen）

25,00025

20,00020

15,00015

10,000

10

5,000

5

0

0
FY2021 FY2022 FY2023 FY2024 FY2025
ResultPlan■Resource Recycling● Sales increase signiﬁcantly in the ﬁrst year due to an increase in the unit price ofelectricity sold at power plants, but in the second and third years, the number ofoperating days declined as full-scale renewal work begins.
● The volume of plastic processing orders is gradually increasing with new orders.
● In liquid waste treatment, expect to increase production of Recycled Oil Bio fromthe second year and start selling sludge fuel from the third year.
● In terms of overall operating income, the transition is aﬀected by the unit price ofelectricity sold by power plants and operating conditions.

Operating Income Margin<Our strengths and external environment>＜Our strengths＞● Characteristic resource-recycling power generation model that uses only waste plastics as fuel(Non-fossil power source)● A nationwide network of 15 intermediate waste
plastic processing plants to collect waste plastics● High rate of conversion to fuel and recycling
technologies backed by an established track record.

＜External environment＞● Increasing demand for resource recycling throughout the
supply chain, and expanding eﬀorts to increase therecycling ratio, especially among large companies● Demand for the establishment of appropriate regional
resource circulation systems.
● Demand for waste-derived recycled fuels is growing due tocorporate GHG emissions reductions and soaring fossil fuel prices.

Trends in wastes andresource recycling policies

Waste plastic emission trends

Starting material recycling initiatives

Policies toward a circular economy in which
resources are circulated instead of discarded arestrengthened. In particular, the recycling of plastic
resources will be promoted.

Waste plastic emissions are gradually
decreasing while the effective utilization
rate is increasing (2020 - COVID 19
impact)Aiming to respond to market needs
and expand target areas by upgrading
recycling● Establishing comprehensive strategy for plastic
material recycling● Law Concerning the Promotion of Resource
Recycling of Plastics (New Plastics Law) comes
into effect.
㾎Effectively utilize used plastics through100% reuse and recycling, etc. by the year2035
㾎Double the use of recycled plastics by theyear 2030(10,000 tons)

（%）

900

100

800

90

700

80

Measures will be taken to promote plastic
resource recycling efforts by all entities (from product design to treatment of discharged plastic), andwaste generators will be required to actively reduce
discharges and to work on recycling plastics.

600(10,000 tons)

Material 70
Chemical 28
Generalwaste
plastics
419

Landfill/incineration 63

70
2016 2017 2018 2019 2020 2021

Material 107

Plastic emissions (10,000 tons)
Effective utilization rate (%)
2016 2017 2018 2019 2020 2021
Plastic
emissions

860

863

861

850

822

824

Effective
utilization rate

81

82

84

85

86

87

(10,000 tons)(%)

Thermal 259

Industria
l wastesplastics
405

Aiming to expand thescope of the recycling
by upgrading therecycling process

Neutralization / aggregation / pressure ﬂotation
teatment ➡ Activated sludge treatment ➡
Aggregation/dephosphorization treatment ➡
Advanced processing Puriﬁcation process

Sea area release

Receiving
Pit（★）

Sewer exclusion

Dehydrator

Dehydration(Billions of Yen)FY2022 Results

Waste liquid puriﬁcation treatment ﬂow

Dilution Neutralization Relay
tank
tank
tank

Data Section•Expand new customer channels and improve sales productivity through expansion of business partners.
•Increase sales capabilities and service quality through enhanced retention and development of human resources.

Transshipment storage locationand quality performance.

Storage tank

Management Foundation

Execute strategic investments to expand business areas and advance and diversify recycling technologies.
Waste liquid treatment facility

In addition to purification treatment, we promote the recycling and reuse ofoil and sludge contained in liquid waste. This contributes not only to the effective use of resources, but also to the expansion of
the amount of liquid waste received and the reduction of final disposal costs for sludge and otherwaste. Since 2018, we have been producing andselling recycled oil concentrated from the oil contained in kitchen waste liquids, etc.Our recycled oil(product name: "Recycled Oil Bio ") was selected asa "Kitakyushu Eco-Premium in 2021" and certified
as the "15th Fukuoka Prefecture Recycled Product.
Fukuoka Prefecture Recycled
In addition, from FY2020, we have been conducting Product Certiﬁcation for "Recycled Oil Bio. Certiﬁed in Marchdemonstration tests to commercialize the use of 2023 as meeting certain stansludge left over after dehydration as fuel.
dards for environmental safety

Compost /cement raw material

Growth Strategy

Value Creation Story (Growth Strategy) in Resource Circulation Area

* Ships and transshipment storage are carried out
by our partner companies.

Recycling = resource recycling is the ﬁrst
priority, and process products are used

Value Creation

Chemical 2
Thermal 252

Our current
main markets

Landfill/incineration 45*There are cases where the breakdown total and total number do
not match due to rounding.

*All figures are processed by our company based on the "Status of Production, Disposal, Recycling, Treatment and Disposal of Plastic Products
in 2021" (Japan Plastic Recycling and Reuse Association).

40

41About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section■Expansion of Business Areas
Waste plastic processing business：Start full-scale material recycling and expand the business domain.
Intangible
aspects

Tangible
aspects

Establish a resource recycling
network through a waste management system.

● Install new processing facilities for hard plastics and● Start sales of SANIX system for waste generators
and SANIX system Pro for collection andtransportation companies.
● By expanding and upgrading the system, build awaste recycling network in the future and improve
the recycling rate of society as a whole.

Society
Aim forfutureuptakedevelop recycling into raw materials and recycled
products based on collaboration with recycling
companies, etc.
● Aim to incorporate waste plastics from municipalities for container and packaging recycling in the
future.

Start converting
waste plastics into
raw materials

Material recycling
Optimal circulation
network utilizing
the system

S
SANIX

Chemical recycling

Industrial wastes
ess
Companies
PlantsRecycled raw materials
and products
Regenerative fuelManagement foundationthat supports sustainable growth

New initiatives

Waste plastic
General wastes

Households
Localgovernments

Introduce material recycling
facilities.

Our current
main markets

Thermal recycling
C
Cooperating
businesses
anda recycling operators＊ Material recycling : Recycling by reusing as raw materials for products＊ Chemical recycling : Chemically decomposing for reuse (oiling, gasiﬁcation, etc.)＊ Thermal recycling : Using as an energy source, such as conversion to fuel or heat

■Enhancement and Streamlining of Existing Facilities

Waste liquid treatment business
Doubling of recycled oil production line
+conversion of sludge into fuelPower generation business
Facility renewal+ power generation capacity improvement
Power generation ﬂow with waste plastic fuelchimney
boilers

payout tanksupply facilities

crushing equipment

Industrial waste as raw material

Recycled fuel (Recycled Oil Bio )● Expand the production line for Recycled Oil Bio, a recycled
fuel derived from organic waste liquids that is delivered to
the Hibiki Plant, which purifies and treats waste liquids.
㾎Inquiries for using an alternative fuel to fossil fuels are strong,so plan to double the number of production lines from thecurrent one to two by the end of FY2023.
Production capacity 2,160t / year ▶4,320t / year

● In addition, a new line to convert sludge contained inorganic liquid waste into solid fuel is expected to start
operation in FY2025.
㾎Reduce sludge disposal costs and generate new revenue fromfuel sales.
＊Recycled Oil Bio is a fuel made from recycled waste that has been recognized for its high environmental value and certified as a Kitakyushu
Eco-Premium in 2021 and the 15th Fukuoka Prefecture Recycled Product.

42

ﬁlter

air-cooled condenser
turbines

Sustainability in business activities
Sustainability about people
Social contribution activities● Large-scale investments have been initiated to ensurestable operation and efficiency in the future, focusing on themain facilities of the Tomakomai Power Plant, which has
been in operation for about 20 years since October 2003
㾎Boiler equipment: Replace piping inside the boiler sequentiallyover a period of about 5 years starting in the FY2024.
㾎Turbines & generators: Renew turbines and generators to be
implemented in FY2025. Expect to improve power generation
capacity by about 8% through optimal design.

Sustainability data
Management system
Corporate governanceCompliance・Risk management

43About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Sustainability about people (education)

Sustainability about people (employment)

To realize "people are quality".

Employment system to support a group of experts

Management philosophy "Work is education and education is management“
Sanix Group has a management philosophy of "work is education and education is management". In our management
strategy, we have positioned "human resource development" as one of our priority issues. From the beginning, we havedevoted ourselves to employee education based on the idea that "a sense of
mission and motivation for work and abundant specialized knowledge areindispensable".
This is because the services we provide are invisible, such as hygiene,
waste recycling and energy, and the quality of our employees is directly
linked to the quality of our services.
We have established a department specializing in education (Human
Resources Development Department) and our own training center and are
striving to "cultivate human resources who can provide satisfactory services
to our customers and contribute to the creation of a comfortable environment for the next generation."

Data Section

All corporate activities are in human resources.
Create human resources who will bear the future.
Hiring status (change in the number of employees)
New Graduate

Mid-career＊SANIX INCORPORATED only

＊Including part-time workers and contract employees（people）
0

10

20

FY2022

40

50

60

70

80

90

（people）

100

57

FY2020
FY2021

30

0

20

40

60

80 100 120 140 160 180 200 220

216

FY2020
FY202143

FY2022

97

183
156

Diverse employment support systems"SANIX Comprehensive Training Center“ (Munakata City, Fukuoka Prefecture)
We have our own training facility, the Comprehensive Training
Center. During the COVID-19 disaster, training is conducted insmall groups with meticulous infection prevention measures andthrough online connections to various locations based at thecenter. A total of 1,560 employees received training over thethree-year period from FY 2020 to FY 2022(86 training sessions in
total)*.
In addition, we also lend it to outsiders outside the training
period, and it is also used as a training camp for local boys' rugby
teams and as a facility for corporate training.
*Total number of participants in all training courses conducted in-house.

Others46

Conceptual
SkillsEstablishingand nurturing

Human beings
SkillsTrainingby businessTechnical
Skills〇〇〇Manager training

〇

〇

〇

Factory
Manager training

〇

〇

〇

Next-generation
leaders trainingNew
employeetrainig

Strengthening skills
New
employees

Workship foreach jobladderJunioremployees(2 to 3 year)
Next generation,
Leader(Deputy Chief
to Subsetion Chief)

Senior Manager
training

Deputy General
Manager, Manager

Training Name

GeneralManager

Type〇

New-employee
Introduction trainig
New-graduates
follow-up training〇

HS start-up
training

〇

〇

〇

〇

〇

〇

〇

〇

〇

〇

〇

HS practicaltraining

〇

〇

〇

〇

Mentor training(System)Practical consultation(Folllow-up interview)

〇

〇

〇

〇

Expertiseby e-learning

〇
〇

〇

〇

〇

〇

〇

Each new graduate (mentee) is
assigned a mentor (support person). The
mentor is not a trainer, but a supportive
person who will deal with the mentee's
feelings and concerns. Smooth communication through regular support meetings and an auxiliary system for interaction with colleagues in the same .

In the age of "100 years in life," we haveintroduced a mandatory retirement ageof 60 or 65.We also ﬂexibly respond to theformation of employees' careers and life
plans by employing temporary employees between the ages of 60 and 65 andcontract employees after age 65 for employment on and after retirement.

Promotion of diversity within the company
Diversity is essentially a trinity of demographic, task, and opinion types,
but in general, only the demographic type tends to prevail.
Sanix Group will promote diversity while aiming for synergistic eﬀects bycombining the task type, which has an invisible nature, and the opinion
type, which encourage the exchange of opinions across barriers, with thedemography type.

■Internal training system chart
Subject Person▼Life Plan Formation througha Retirement▶Support through a mentoring system

Demography type
Gender, nationality,
age, etc

Task type

Opinion type

Ability,

Opinionexperience, etc.

Introductory training for new
employees that more than 200 people
take annually. In order to become
independent as a Sanix employee, wewill not only permeate our philosophy
and vision, but also improve our "basic
skills for business person."A total ofthree follow-up training sessions areheld for new graduates.

（image）

Training for managers to broaden
their horizons as a manager. We also
provide training for leaders to learn
management knowledge at an earlystage as an executive candidate.

Welfare, etc.
Employee stock ownership

Qualiﬁcation allowance

Company housing system

Employees contribute a ﬁxed amounteach month if desired, and SANIX Employee
Shareholding Association purchases thecompany's shares. In addition to supporting
the asset formation of employees, it also
plays a role in fostering employees'
awareness of management participation.

A total of 113 types of qualiﬁcations,
including in-house qualiﬁcations andpublic qualiﬁcations, are covered, andqualiﬁcation allowances are permanently
provided to holders. Sanix Group will
promote the acquisition of qualiﬁcations,
new knowledge and skills for employees.

Sanix Group has a company housing
system that subsidizes rent whenemployee are transferred according tocompany instructions (various requirements apply).

Recreation facility (Huis Ten Bosch)Welfare services

Employees can stay at the accommodations in Huis Ten Bosch, the largest theme
park in Kyushu, at a low price, including
their family.

Jointheindustry's largest membership-based
employee beneﬁt service. In addition to beneﬁts
for leisure, shopping, childcare, nursing care,self-improvement, and many other occasions,
we also oﬀer unique services in cooperation
with the Mutual Aid Association.

47

About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Sustainability about people(customer satisfaction)
Sustainability about people(customer satisfaction)
Implementation status of "Customer Satisfaction Improvement Questionnaire"

In November 2018, we established the “CS improvement working group”
to understand and improve customer satisfaction and reﬂect it in continuous
improvement activities.

Valid
response
rate

Number of
Number of
Implementation distributions valid answers(person)(person)<Examples of eﬀorts to grasp customer satisfaction>① Customer satisfaction questionnaire (postcard - web)At the time of visit, the SE / HS / ES business division has introduced apostcard-style questionnaire (web response is also possible) that is handed tothe customer and asked for an answer (collected on the spot or posted at alater date). This is a questionnaire that we carry out on a daily basis.
We will compile the feedback and provide feedback to employees once a month (via notices and a web-based internal
newsletter).In parallel, we will identify issues and take measures based on customer feedback in order to spiral up to improvecustomer satisfaction.

Overall satisfaction (average score out of 5)
TermitePeriodic
Intention
disinfection
inspection
to repeat

FY2018JAN/2019

5,373

1,223

22.8%

3.83

3.71

4.28

FY2019

JAN/2020

5,484

1,224

22.3%

3.84

3.71

4.25

FY2020

JAN/2021

5,608

911

16.2%

3.88

3.72

4.29

FY2021

JAN/2022

6,055

956

15.8%

3.91

3.78

4.31

FY2022

JAN/2023

5,850

730

12.5%

3.91

3.71

4.26

Based on the analysis of the past questionnaire results, we concluded that "satisfaction with periodic inspections" has a high correlation with "intention to repeat" and "intention to recommend," and we are implementing
measures to improve the satisfaction with periodic inspections.
Trends in satisfaction with periodic inspections (overall)

Gathering Customer Feedback

Utilize to improve customer satisfaction◀Based on the customer feedback obtained, issues are
identiﬁed and measures are considered, and the PDCA cycle
is implemented.

Even when collected on the spot, ablindfold sticker is used to facilitatehonest responses (HS).

0

10

20

30

40

50

60

70

80

90

100（%）FY2018

54.0%

38.8%

7.2%

FY2019

53.7%

40.9%

5.4%

FY2020

53.7%

39.8%

6.5%

FY2021

56.7%

37.7%

5.6%

FY2022

54.9%

37.7%

7.4%

■Satisfaction・Fairly satisﬁed■NormalMore than half of thecustomers rated the service
as "satisfactory" or "somewhat satisfactory," although
this was lower than thehighest rating in FY2021,
which was the highest to
date.

■Dissatisfaction・Fairly dissatisﬁed

Average satisfaction score (on a 5-point scale) related to periodic inspections
Item▲Feedback of customer feedback to
employees via internal Web newsletters,
etc. The feedback is shared throughout
the company, along with the words ofthe employees in charge.

Answers are also available on the web.

② Customer satisfaction improvement questionnaire
Since FY2018, we have been conducting an annual questionnaire survey for customers of detached houses. Approximately
5,500people are randomly selected from customers during the termite disinfection warranty period. (No duplication withpreviously sampled customers). Responses were collected and analyzed by mail and web. The answers obtained are analyzed and reﬂected in the subsequent work by formulating and implementing measures to solve the problems.

■ Customer satisfaction improvement process and survey

FY2018FY2019FY2020

FY2021

FY2022

General

3.71

3.71

3.72

3.78

3.71

Information Postcard

3.48

3.51

3.52

3.55

3.53

Appointments

3.52

3.54

3.59

3.59

3.59

Manner of visit

3.97

4.00

4.04

4.04

3.99

Inspection details

3.92

3.91

3.96

3.98

3.93

Report of Inspection
Results

3.96

3.92

3.97

4.05

3.96

Opinions about periodic inspections (free description) from responses to the 2022 questionnaire.

Policy formulationand execution

Evaluation of feasibility

Direction formulation

Current situation
analysis

Setting the purpose

Level of satisfaction

Opinion (partial excerpt)

Compliment・The explanation and level of safety was much better than any other place I've ever ordered from. I have alreadyrecommended them to my friends. The people who came were very hard working and very happy. I have a few
houses for rent and I look forward to working with you again in the future.
・When the problem recurred, they came right away and took good care of it. I really appreciated the 5-year warranty.

Suggestions/ Requests

・I thought it was a good idea to have a business card with a picture of the person's face on it. I have received and given businesscards during my working years, and I really thought that having a photo was the best way to match a name with a face. However, as
the years go by, one's appearance changes, so I think it is necessary to maintain the card by replacing the photo every 5 years.
・Please oﬀer a discount for long-term subscribers. The person in charge is very good and I would like her to be
in charge for a long time.

Criticism/ scolding

・I wish you could explain a little more about the diﬀerence between before and after construction.
・Periodic inspections always come in diﬀerent months, so it would be nice if you could predetermine the monthof inspection.

■ Target level of customer satisfaction
Improved satisfaction①Expectations ②Satisfactionin advance③ Fixedcustomer④Recommendation

Receive service

Receive
service again

Recommended
service to others

Satisﬁed withservice

The analysis of the survey
results showed that "inspection contents" and "inspection result reporting" have ahigh correlation with overallsatisfaction with periodic
inspections, and these wereselected as key items tofocus on.

questionnaire
repeat50

Aiming level51

About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Social contribution activities
Healthy development of youth through promotion of international sports and culture

Global Arena Bulgarian Festival

Sanix Group holds international sports competitions
and cultural events to provide opportunities for youth
generation athletes for practice and international
exchange experiences, which was created by thefounder of Sanix Group at his own expense (the proﬁt of
the founder obtained at the time of the stock listing of
the company).
During the period, we provide opportunities tocommunicate each other to deepen understanding ofeach otherʻs culture while living together, even outsideof competition. Foreign players who have been
impressed by the politeness of Japanese players havebegun to imitate actions such as alignment, greetingsand bowing. A wonderful scene was when one teamstarted singing “We are the world", players from otherteams joined one after another to become a big chorus.

The late Shinichi Munemasa (founder of SANIX = former president) who visited
Bulgaria during summer in 2001 was impressed by the culture and humanity of
the country and organized the "Bulgaria Festival" in Japan every year since then.

Number of participants in sports events of the youth generation(Rugby, soccer, handball, rhythmic gymnastics, judo)

43

countries / regions
Approximately

52,300people（As of 2023.3）

The above competitions have been conducted as an accredited project ofSports for Tomorrow* since October 2015.In January 2022, we received a"Certiﬁcate of Appreciation from the Director-General of the Sports Agency"
in recognition of the fact that we have conducted the largest number ofaccredited projects among our member organizations during our sevenyears of activities.
◀Certiﬁcate of Appreciation wasawarded online by then Director
General of the Sports Aﬀairs Agency,
Mr. Murofushi.(January 26, 2022).

He was appointed as Honorary Consul of the Republic of Bulgaria in Fukuoka on
October 8, 2007, because of contribution to active cultural exchange between
Japan and Bulgaria through this festival.
With the passing away of Shinichi Munemasa, Hiroshi Munemasa (current
president of Sanix Group) succeeded it from January 16,2019 until now.
＊ From the perspective of COVID-19 infection spread prevention, implementation of this program will
be postponed in FY2020, and in FY2021, the program will be implemented on a reduced scale,without the Bulgarian participants coming to Japan.

In March 2019, Deputy Prime Minister andForeign Minister of the Republic of Bulgariaawarded the Honorary Consul of the Republic of
Bulgaria in Fukuoka (Sanix, Hiroshi Munemasa).

From the 19th (September 2019) Global Arena Bulgaria Festival■ Events by Kazanlac Folk Dance ensemble / International exchange■ Citizen participation event

World festival* Sports for Tomorrow (SFT) is aJapanese public-private
partnership for international
contribution through sports.

Global Arena Bulgarian Festival
Annual event held since 2001*

SANIX World Rugby Youth Tournament* December 2001, then September.

【Host: SANIX Sports Foundation, Global Arena】■ Purpose
Introduce the culture of Bulgaria andpromote cross-cultural and international
exchange between Japan and Bulgaria.
The Kazanlac Folk Dance Ensemble,
which comes to Japan, visits elementaryand junior high schools and welfare
facilities in various places in addition to
events at the Global Arena.

SANIX Cup Int'l Youth Soccer Tournament

Held every year from late April to early May since 2000.
Girls (Rugby sevens) Annual event held since 2013.
【Host: Japan Rugby Football Union, SANIX Sports Foundation, Global Arena】★

* Domestic competitions in 2022

■ Participant nations and regions
Australia, Canada, England, Fiji, France,
Ireland, Italy, South Korea, New Zealand,
Russia, Samoa, Scotland, South Africa,
Taiwan, Tonga, Uruguay, Wales, Japan(Total number of participants until 2022: 13,456)

Annual event held at the end of March, since 2003

Annual event held at the end of October, since 2008
【Host: Kyushu Handball Association, SANIX Sports Foundation】■ Participant nations and regions
Australia, Bulgaria, China, England,
France, IndiaItaly, Italy, Malaysia,
Netherlands, New Zealand, Russia, South
Korea, Taiwan, Thailand, USA, Uzbekistan, Vietnam, Japan＊Kazanlak Folk Dance Ensemble: Founded in 1947, this youth dance ensemble has the longest tradition in the country.

Performance■ Accommodation exchange

Performance at the facility in Munakata City (Fukuoka Prefecture), where the Global Arena islocated. In addition, Munakata City has signed a partnership agreement with Kazanrak City inthe wake of this festival.

Local young people, in the global arena, wehave established the opportunity toexperience, such as if they were home stay in
Bulgaria.

SANIX Cup U-17 Int'l Handball Tournament【Host: Kyushu Soccer Association, SANIX Sports Foundation】★

A world festival where you can experience street food, dance and music from around theworld. The Kazan Lak Folk Dance Ensemble come to Japan from the city of Kazan Lak, Bulgaria,
and liven up with rhythmic music and light dance.

★

* Domestic competitions in 2022

■ Participant nations and regions
Canada, France, Germany, Hong Kong，
South Korea, Netherlands, Taiwan,
Thailand, Japan(Total number of participants until 2023：8,000)(Total number of participants until 2022：3,770)

Since 2014, the "Sanix Cup High School Girls Soccer Tournament" (domestic tournament)
has been held at the same time. (Cumulative total of participants: 1,802). In FY2022, thescope of participation will be expanded and the name of the competition changed.

The women's competition has been held since
2013.

School visit

SANIX Cup Int'l Junior Rhythmic Gymnastics Group Tournament
Annual event held at the end of November, since 2003** Until 2012, domestic competition

Domestic competitions in 2022

【Host: Fukuoka Gymnastics Association, SANIX Sports Foundation】■ Participant nations and regions
Australia, Azerbaijan, Bulgaria, China,
Kazakhstan, Lithuania, Malaysia, Russia,
South Korea, Taiwan, Thailand, Japan(Total number of participant until2022：11,641）
Since 2017, the "SANIX Open Rhythmic Gymnastics Team Championships," which is for ahigher age group, is held in January, and the "SANIXCUP Men's Rhythmic Gymnastics
Competition," which is for men, is held in February.(Total number of participants: 677 for
SANIX Open and 488 for SANIXCUP Men)

Photo of the ★ mark is ©MasafumiONO

52

There are many opportunities to experience
Bulgarian culture, such as cooking classes andgardening classes. The photo is a sketching
party in which citizens run their brushes,modeled after a dancer in a folk costume.

SANIX Int'l Juvenile Judo Championship in Fukuoka
Annual event held in December, since 2003 *Domestic competitions in 2022
【Host: Kyushu Judo Federation, SANIX Sports Foundation, etc.】★

■ Participant nations and regions
Australia, Beslan, Bulgaria, Chechen
Republic, China, Germany, Hong Kong,
Israel, Latvia, Mongolia, Netherlands,
Palestine, Romania, Russia, Singapore,
Slovenia, South Africa, South Korea, Sri
Lanka, Taiwan, United Arab Emirates,
USA, Japan (Total number of participants until
2022 :12,510)

This year, they went to schools in Fukuoka and Saga Prefectures. They also performed at aparty at the Elderly Housing with Care in Munakata City.

The Queen of Roses in
Kazanrak, Bulgaria also visits
Japan every year.

53

About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section＊All photos and participant stories are from the 2019 competition.

SANIX Cup Int'l Junior Rhythmic Gymnastics Group Tournament＊For the prevention of COVID-19 infection spread, thisprogram implementation was postponed for FY2020. FY
2021 and FY 2022 conducted as domestic competitions.

The purpose of this event is to promote rhythmic gymnastics among junior and child athletes, to provide an opportunity topresent the results of daily practice, and to allow participating athletes to learn from each other in terms of technique andexpression, as well as to promote international exchange. In FY2022, a total of 119 teams from all over Japan participated. As in
the previous year, no overseas teams were able to come to Japan, but in the senior competition, two teams from Australia andTaiwan participated in a method where they were judged based on pre-recorded performance videos.

Participation in education
Sanix Group has focused on education since our founding because we believe that the quality of our employees is directly
linked to the quality of the service we provide to our customers (see page 52).Sanix Group also provides in-house humanresources to the outside, as well as the knowledge and know-how to talent development through our wealth of experience in
employee education.

Sports and health guidance by the rugby -Established as an educational course in elementary schoolComments from participants◆ For young athletes, participating incompetitions overseas is very important forlearning and improving their skills. At SANIX
Cup, they live together, so they can learn
about culture (Australia team coach).

SANIX Open Rhythmic Gymnastics Team Championship

Teaching tag rugby inphysical education classes.

Teaching tag rugby inphysical education classes.

Sanix Rugby Academy（Rugby School）

Sanix Rugby Academy（Rugby School）＊From the perspective of preventing the spread of COVID-19 infection,
Implementation was postponed for FY2020, FY2021 conducted as
domestic competitions.

This is a tournament for seniors (second grade and above) who have developed the"SANIX Cup Intʼ l Rhythmic Gymnastics Group Championship" (above) for the juniorgeneration.
In 2022, the competition was held internationally for the ﬁrst time in three years. A
total of 29 teams (6 from overseas, 22 from Japan, and 1 mixed team from Fukuoka andBulgaria) competed with their spectacular performances.

Comments from participants

In May 2022, we suspended the Munakata Sanix Blues rugby
team but opened the Sanix Rugby Academy in September
2022.We will continue to contribute to the community throughrugby, utilizing our 28 years of experience, human resources,
and facilities.
In addition to continuing the tag rugby instruction in physicaleducation classes at elementary schools and visiting rugby
classes for kindergarten and nursery school children that wehave conducted with the SANIX Sports Promotion Foundation(established as a foundation in 1997)*, we have started a rugby
academy for elementary and junior high school students. We
will do our utmost to support children.
＊From FY2020 onward, the scale of the program has been scaled back from theperspective of preventing the spread of COVID-19 infectious diseases.

Tag rugby instruction in elementary school

Kindergarten /nursery school
rugby visit classroom

Local residents rugby experience /health class

15 school, 1,015 people(FY2021)
15 school, 976 people(FY2022)

4 school, 176 people(FY2021)
8 school, 180 people(FY2022)

4 locations, 57 people(FY2021)
4 locations, 67 people(FY2022)

Collaborative activities
with government

Adult casual rugby classes

In cooperation with Munakata
City, Fukuoka Prefecture, which
promotes itself as "Rugby Town
Munakata," the "Girls' Rugby Schoolfor Elementary School Students" isbeing held (for girls in grades 3 to6). The school is designed to convey
the fun of rugby.

In February 2022, the "Adult
NIWAKA Rugby Class" for adults washeld (once a month x 7 sessions).
About 30 men and women in their
20s to 60s participated in each class.

SANIX Rugby Academy Activities◆ It was inspiring for the children to be able to play in a wonderful environment. Next year,
I want to improve our level and participate in the match. (Korean team coach)

Rugby School for Elementary
and Junior High School Students*We also call this school "Sanix Rugby Academy”.

SANIX Cup Men's Rhythmic Gymnastics Championship＊From the perspective of preventing the spread of COVID-19 infection,
implementation was postponed for FY2020 and FY2021.

The competition is open to students from kindergarten through the third grade ofhigh school, and in FY2022, a new "Mixed Division" was added for female competitors.
In 2022, a new "Mixed Division" was added for girls. 78 athletes from 7 groups in Japan
competed in the skills competition.

Comments from participants◆ Since there are few competitions for men's rhythmic gymnastics, I am grateful for having
many athletes participate in such a wonderful environment. (Participating team coach)

SANIX Int'l Juvenile Judo Championship in Fukuoka＊From the viewpoint of preventing the spread of COVID-19 infection,
implementation was postponed for FY2020. FY2021 and FY2022
conducted as domestic competitions.

The purpose of this tournament is to promote and develop junior high school judo and to improve their competitiveness.
The event started as a men's competition, and since the 10th event, a women's competition has also been held. Some Olympic
and World Championship gold medalists have been born from the participants of this tournament. In FY2022, the tournament
was held as a domestic competition, as in the previous year. Fifty-eight men's teams and 42 women's teams from all over Japan
participated.

Support for elementary and juniorhigh school students who "want toplay more Rugby. Classes for 5th
and 6th graders and junior highschool students are oﬀered twice aweek (weekday evenings).
(As of March 2023/expanded to three times
a week from April 2023)

Dispatch of employees to educational institutions, etc.
▶ Dispatch of Interview Committee Members for the Fukuoka Prefecture Teacher Recruitment Examination
Sanix Group dispatches personnel from its Human Resources Department to serve as interviewers for the Fukuoka Prefecture
Teacher Recruitment Examination, which has been introduced to produce teachers with “human charm that children admire, abroad and deep love for children, and a strong sense of mission as a teacher”. This is a result of a match between the local
government's desire to adopt a broad perspective and our desire to contribute to the local community by utilizing our
know-how outside the company.

▶ Dispatch of employees to elementary school international exchange classes.
An on-line exchange class was held between an elementary school in Munakata
City, in Fukuoka Prefecture, and a Bulgarian judo player. The Sanix sent an employee
who is familiar with the country as a guest coach / coordinator as well as served as aninterpreter to connect the children with Bulgaria.

Comments from participants◆ It was great to be in an environment
where a competition with over 800
athletes is held regularly. I hope it willcontinue and I would like to participate
again. (Mongolian team coach)

56

Photo shoot for "Job Lens"＊ In the wake of the Bulgarian Festival, Munakata City is actively interacting with Bulgaria (see page 61). In
2017, Fukuoka Prefecture, Munakata City, Sanix Sports Promotion Foundation, and Bulgarian Judo Association
signed an alliance as an Olympic campsite. The city accepts pre-camps for the country's judo team andpromotes interaction with the citizens.

57

About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Sustainability data
Environment

Social■Environmental contribution through business■Community / Social contribution
FY2020

FY2021

FY2022（1000t）

266

282

273

（GWh）

247

291

242

Unit
Amount of waste plastic processed
1）Power generation using waste resources*

Number of
1,531
1,590
installations （Installation）
Solar panel
Installation
36
59
（MW)
capacity
Amount of contracted waste liquid10296（1000t）
puriﬁcation treatment＊1) The amount of power generated from plastic that has undergone intermediate treatment at our plastic recycling factory is listed.

Implementation status ofon-site lessons

952

Rugby club, etc. *11)31
SANIX Rugby Academy*12)

100■Environmental load in business
Energy consumption*2)
Greenhouse Gas
Emissions

Unit

FY2020

FY2021

FY2022377

334（1000GJ）

356

Scope1*3)（t･CO ）

9,545

10,933

9,623

Scope2*4)（t･CO2）

15,25014,30911,610（1000t）

323

295

277

Water consumption*5)2

Human resources
development department

Total

Employees

New employees
Employment/ personnel

1,844

1,869

1,868

Men/Women(people)1,555／289

1,559／310

1,556／312

Total(people)

273

226

253

New graduate /Mid-career(people)43／183

97／15632／2.431／2.331／2.4(people)

30

24

11

(people)

124

132

144

Average age

(age)

43.6

42.9

43.9

Average years of service(years)

9.2

9.9

10.1

Total actual working hours（hours/people）

2,366

2,345

2,283

(days/people)

11.7

9.7

12.4

（％）

63.4

56.9

68.6

Total

(people)

17

15

25

Men/Women(people)

3／14

2／13

6／19

(people)1

1

3

TRIR(Total Recordable Incident Rate）*8)

1.63

1.25

1.97

LTIR(Lost Time Incident Rate）
*9)

1.25

0.56

1.17

Employment of people
with disabilities

Rehiring retirees*7)

Number / Ratio （people/％）Numberof people
Numberof people

Paid holidays
Labor/ vacation
No of days acquired
Acquisition rate

Human resources
development

FY202257／216

Foreign employees*6

Labor Healthand safety(people)FY2021

Disaster fatalities(people)000Annual training participants (total) *10)

(people)

523

442

595

＊6) Refers to those who have foreign nationality as of the end of March.
*7) The cumulative total as of the end of March is shown.
＊8) Frequency of total occupational accidents, including non-stop accidents per 200,000 total working hours.
＊9) Frequency of lost time accidents per 200,000 total working hours.
＊10) Training refers to employee training, including self-improvement, and training by business division, sponsored by the Human Resources Development Department of
the Company.

58(Number of people)

26

190

0

(Number of visits)

20

27

23

(Number of people)

1,107

1,501

1,156

（Number of events）

−

−

55

（Number of participants）

−

−

67

Implementation status of SANIX presents event(Number of teams)

SANIX Cup Intʼl Youth Soccer Tournament
SANIX Cup High School Girls' Football Tournament

SANIX Cup U-17 Intʼl Handball Tournament

SANIX Intʼl Juvenile Judo Championship Fukuoka

FY20200−SocialUnit

FY2022

1(Number of visits)

SANIX Cup Intʼl Junior Rythmic Gymnastics Group Tournament■Employment / Employee (SANIX non-consolidated)

FY2021

2

Global Arena Bulgarian Festival event status

SANIX World Rugby Youth Invitational Tournament＊2) The above ﬁgures are based on the ﬁgures reported by the sites of the Sanix Group that are subject to the greenhouse gas emissions calculation, reporting andpublication system.
＊3) The ﬁgures are calculated based on CO2 emissions from the use of company-owned vehicles in addition to the CO2 emissions subject to the greenhouse gas emissions
calculation, reporting and publication system.
＊4) Indicates CO2 emissions from electricity, calculated using emission factors by electric utility.From this year, the CO2 emissions are adjusted to include CO2 emissions fromprevious years.
＊5) Most of the water consumption is industrial water used by the waste water treatment factory and Tomakomai Power Plant.

FY2020(Number of visits)

SANIX CUP Men's Rhythmic Gymnastics Competition

SANIX Cup Int'l Junior Rhythmic Gymnastics Group Tournament*13)

2,426*13)

20*13)

217*13)317*13)(Number of participants)

500*13)

1,888*13)

2,830*13)(Number of teams)

−*13)

−*13)

20*13)(Number of participants)

−*13)

−*13)

456*13)(Number of teams)

20*13)

24*13)

28

*13)

*13)

700

(Number of participants)

*13)

500

*13)

3,720

582

(Number of teams)−

12

12*13)(Number of participants)−*13)

185*13)

185*13)(Number of teams)−*13)

122*13)

121*13)(Number of participants)−*13)

740*13)790*13)(Number of teams)−*13)

56*13)

100*13)(Number of participants)−*13)

309*13)

501*13)(Number of teams)

−*13)

−*13)

7

(Number of participants)

−*13)

−*13)

78

(Number of teams)

−*13)

3*13)

29

*13)

*13)

120

−

(Number of participants)

*13)

72

＊11) Includes tag rugby classes at nursery schools, kindergartens, and elementary schools, and rugby experience and health classes for local residents.
＊12) Rugby school for elementary to junior high school students opened in September 2022.
＊13) From March 2020 to December 2022, from the viewpoint of preventing the spread of new coronavirus infection (COVID-19), the event was postponed or scaled down(e.g., held as a domestic tournament).
＊14) From FY2022, the scope of participation has been expanded to include club teams, and the name of the tournament has changed to the "Sanix Cup U17 Girls Soccer
Tournament.

Governance
FY2020

FY2021

FY202311

11

10

In-house（people）

Outside（people）

5

5

5

Total

（people）

16

16

15

Ratio of outside directors

（％）

31.3

31.3

33.3

Term of oﬃce of director（years）

1

1

1

Number of events held（times）

14

16

16

Number of events held（times）

8

13

14

Number of events held（times）000

Number of members（people）

15

15

15

Number of events held（times）

8

11

10

Number of members（people）

14

14

13

Number of director

Board of directors
Audit and Supervisory Committee
Compliance Committee

Internal Control Committee

59

About Sanix Group

Sustainability/Corporate governanceCorporate governanceWith the recognition that corporate governance is a serious issue that calls for socially responsible management
in line with corporate ethics, Sanix Group build a corporate governance system based on a long-term perspective,
while striving to establish a system that functions well in terms of decision-making eﬃciency, management
supervision, management fairness and transparency, and compliance, in order to maximize corporate value andconduct shareholder-oriented management.

Value Creation

Growth Strategy

Management Foundation

Data Section■Role of the Board of Directors■Role of the Audit Committee

The Board of Directors shall make appropriate decisions onimportant matters (management plans and strategies) in a
lawful and prompt manner and supervise the execution ofduties by Directors (excluding those who are members of the
Audit Committee) and Executive Oﬃcers in cooperation with
the Audit Committee, in order to contribute to the sustainablegrowth of Sanix Group and the enhancement of corporate
value over the medium to long term.

The Audit Committee shall audit and supervise theperformance of the duties of the directors, determine thecontent of proposals for the appointment, dismissal andnon-reappointment of the Independent Auditor, exercise
its authority in relation to audit remuneration, and perform
such other duties as may be prescribed by law and the
Audit Committee Rules.

■Internal Control Committee■Corporate governance system to ensure sound management and eﬃcient decision-making
Sanix Group has adopted a company-with-audit-committee structure in the belief that it will contribute to the further enhancement of corporate value. By establishing the Audit and Supervisory Board, the majority of whose members are outside directors,
and by granting directors who are Audit Committee members the right to vote at meetings of the Board of Directors, we aim toenhance the supervisory function of the Board of Directors, further strengthen corporate governance, and increase the fairness
and transparency of management. In addition, by allowing the Board of Directors to delegate decisions on business execution to awide range of directors, we aim to separate business execution from supervision and improve the eﬃciency of decision-making.
■ Corporate Governance Schematic Diagram (as of Jul 1, 2023)
By resolution of the Board of Directors meeting held on June 29, 2023, the "Sustainability Promotion Council" was established as of July
1, 2023.The Company's corporate governance structure after the establishment of the Sustainability Promotion Council is as follows.

Shareholdersʼ meeting

Internal Control
Committee

Cooperation

Cooperation

Sustainability
Promotion Council

Appointment
and dismissal

The Internal Audit Oﬃce, which reports directly to the President, is responsible for auditing the operations of each division andoﬃce, and audits compliance with company regulations and overall business operations for appropriateness, eﬀectiveness andlegality.

Cooperation

Audit andsupervision

Selection,
dismissal andsupervision■Activities and attendance of outside directors（FY2022）

Reports
Accounting Audit

President andRepresentative Director
Management
meetings(Established July 1, 2023)

Accounting Auditor
Cooperation

Legal advisers

AdviceAttendanceUpper Section:
Board Meeting
Lower Section:
Supervisory Committee

Isamu Kondo

Naoki Kaneko

Director in charge
Internal Audit

15/16

93.8%

13/14

92.9%

14/16

87.5%

10/14

71.4%

15/16

93.8%

13/14

92.9%

15/16

93.8%

13/14

92.9%

16/16

100.0%

14/14

100.0%

AdviceInstructions andreports

Cooperation

Accounting Audit

Cooperation Report/
Reporting

Audit and Supervisory
Board

Cooperation

Compliance
Committee

Board of Directors

Appointment and dismissal of directors
who are members of the Audit andSupervisory Committee■Audit System (Three-way Audit)
The Audit and Supervisory Board members will audit and supervise the directors' performance of their duties by sharing with
the Audit and Supervisory Board various information collected by attending the Management Committee and other important
meetings. In addition, the Audit and Supervisory Board plans to closely exchange opinions with the accounting auditor and will
work closely with internal audit and internal control related departments by adding the Audit and Supervisory Board to theirreporting lines to ensure timely and appropriate auditing and supervision.

Sanix Group
Appointment and dismissal of directors(excluding directors who are membersof the Audit and Supervisory Committee)

・The Internal Control Committee shall promote the development and operation of internal controls and compile the resultsof evaluation of their eﬀectiveness.
・The Internal Control Committee shall review the internal and external risk factors surrounding the business of Sanix Group andreport to the Board of Directors.
・In order to achieve appropriate ﬁnancial reporting, the Committee shall work closely with the Audit and Supervisory Boardand exchange opinions in a timely and appropriate manner to enhance the eﬀectiveness of internal controls.
・The Committee shall be chaired by the Reperentative Director and consist of the General Manager of each business division,
the General Manager of the Administration Division, the General Manager of the General Aﬀairs Division, the General Manager of the Legal Division, the General Manager of the Accounting Division and others. The secretariat is located in the Corporate
Planning Department and is responsible for its operation.

Internal Audit Oﬃce

Main activities(summary of duties performed with respect to expected role)
Based on his management experience as a representative director of a company, he provides valuableadvice on management from a medium- to long-term perspective, as well as valuable advice on the functions
and discussions of the Board of Directors, thereby fulﬁlling a supervisory function over management from an
objective position that is free from the management team engaged in business execution.
Based on his management experience as a representative director of a company, he provides valuableadvice on management from a medium- to long-term perspective, as well as valuable advice on the functions
and discussions of the Board of Directors, thereby fulﬁlling a supervisory function over management from an
objective position that is free from the management team engaged in business execution.

Cooperation

Yasufumi Kubota

ExecutiveoﬃcerCompliance Promotion HQ
Instructions
and reports

Departments
Instructions
and reports

Compliance Promotion Oﬃce
Genichiro Yasui

Customer Service
CentreSadahito Baba

Whistle-blowing
systemReportInterconnection and cooperation

Aﬃliated companies

62

Based on his experience and insight as a legal expert, he provides valuable advice, especially for strengthening management in general and governance in particular, and fulﬁlls a supervisory function over management from an objective position free from the management team that executes the business.
Based on his management experience as a representative director of a company, he provides valuableadvice on management from a medium- to long-term perspective, as well as valuable advice on the functions
and discussions of the Board of Directors, thereby fulﬁlling a supervisory function over management from an
objective position that is free from the management team engaged in business execution.
Based on his management experience as a representative director of a company, he provides valuableadvice on management from a medium- to long-term perspective, as well as valuable advice on the functions
and discussions of the Board of Directors, thereby fulﬁlling a supervisory function over management from an
objective position that is free from the management team engaged in business execution.

■Compliance Committee
For the purpose of ensuring proper business operations, a "Compliance Committee" has been established, chaired by the
President and Representative Director and vice-chaired by the General Manager of the Compliance Promotion Headquarters.
(See next page for details).
63About Sanix Group

Value Creation

Growth Strategy

Management Foundation

Data Section

Share information （as of end Mar 2023）

Financial data highlights【Consolidated statement of cash ﬂows 】（Million yen）

FY2021
Cash ﬂows from operating activities
Income before income taxes and minority interests△3,127
Depreciation and amortization
1,509
Impairment losses
226
Increase (△＝decrease) in provision for directorsʼ retirement beneﬁts△5
Increase (△＝decrease) in provision for bonuses
17
Increase (△＝decrease) in provision for disposal site closing expenses
57
Increase (△＝decrease) in liabilities for retirement beneﬁts
109
Increase (△＝decrease) in allowance for doubtful accounts△44Interest and dividend income received△14
Interest paid
251
Decrease (△＝increase) in trade receivables△1,332
Decrease (△＝increase) in inventories
301
Decrease (△＝increase) in other current assets△88
Increase (△＝decrease) in trade payables△390
Increase (△＝decrease) in accrued liabilities
138
Increase (△ = decrease) in accrued consumption tax, etc.
△465
Increase (△ = decrease) in other current liabilities
71
Other
30
Sub-total△2,756
Interest and dividends received
14
Interest paid
△243
Income taxes paid
△172
Refund of income taxes
90
Cash ﬂows from operating activities△3,067
Cash ﬂows from investing activities
Payments into time deposits△851
Proceeds from withdrawal of time deposits
747
Payments for acquisition of tangible ﬁxed assets△2,494
Proceeds from sale of property, plant and equipment
20
Payments for acquisition of intangible ﬁxed assets△140
Cash ﬂows from other activities△217
Cash ﬂows from investing activities△2,937
Cash ﬂows from ﬁnancing activities
Increase (△＝decrease) in short-term borrowings
3,521
Proceeds from long-term borrowings
297
Repayment of long-term borrowings△261
Proceeds from issue of bonds
1,000
Redemption of bonds△600
Proceeds from sale and leaseback
185
Repayments of ﬁnance lease obligations△476
Proceeds from sale and installment back
1,227
Payments of installment obligations
△420
Other
△25
Cash ﬂows from ﬁnancing activities
4,447
Eﬀect of exchange rate changes on cash and cash equivalents
39
Net increase (△＝decrease) in cash and cash equivalents△1,517
Cash and cash equivalents at beginning of year
4,760
Cash and cash equivalents at end of year
3,243

FY2022

Status of shares

1,552
1,889
ー
ー
△10
△209
117
△57
△17
299
1,766
△452
150
△558
209
616
△96
444
5,645
15
△298
△374
46
5,034

Total number of shares authorized
Total number of shares issued
Total number of shareholders△6,689
5,053
△892
ー
△200
66
△504
524
△639
△26
△3,307
3
673
3,243
3,916

48,919,396 shares
13,398 person

Major shareholders (top 10)
Name or title

Number ofshares owned（1000 shares）

Ratio of shares held to the total
number of shares issued(excluding treasury shares) (%)

1

Bion Corporation

8,716

18.23%

2

Hiroshi Munemasa

6,454

13.50%

3

HIKARI TSUSHIN,INC

3,582

7.49%

4

The Master Trust Bank of Japan, Ltd (Trust Account)

3,183

6.65%

5

The SANIX Mutual Beneﬁt Association, Inc.

1,700

3.55%

6

SANIX Employees' Shareholding Association

1,222

2.55%

7

SBI SECURITIES Co.,Ltd.

774

1.61%

8

UH Partners 2 Inc.

724

1.51%

MSIP CLIENT SECURITIES

689

1.44%

536

1.12%

9
10

△998
1,089
△1,0737△62△18△1,056

163,500,000 shares（Standing Proxy: Morgan Stanley MUFG Securities Co.）

THE NISHI-NIPPON CITY BANK, LTD

Share distribution status

Shareholder memo

■By shareholding (in thousands of shares)

Fiscal year

April 1st-March 31stof the following year

Record date fordividends of surplus

31st March
30th June
30th September
31st December

Ordinary General
Meeting of Shareholders

June every year

Listed stock exchangeTokyo Stock ExchangeStandard Market

Individuals and others

22,376（46.87%）

Other legal entities

16,509（34.58%）

Financial Institutions

4,513 （9.45%）

Foreign companies, etc.

2,326 （4.87%）

Financial Instruments Dealers 2,078 （4.35%）(Transitioned from Prime on
October 20, 2023)■By shareholding (in thousands of shares)
1 unit or more

Fukuoka Stock Exchange

1,316 （2.76%）

5 units or more

977 （2.05%）

10 units or more

4,576 （9.59%）

50 units or more

2,214 （4.64%）

100 units or more

4,263 （8.93%）

500 units or more

1,807 （3.79%）

1,000 units or more

5,034（10.54%）

5,000 units or more

27,584（57.78%）

Method of Public NoticeElectronic public notice
Public notice URL
https://sanix.jp(However, in the event of an
accident that cannot beannounced electronically or
any other unavoidable reason,
the announcement will bemade to the Nihon Keizai
Shimbun.)※Excludes treasury stock（1,114,983 shares）and odd-lot shares.

7273

Company information （As of March 31, 2023）
About Us
Trade name

SANIX INCORPORATED

Headquarters

2-1-23,Hakata-eki Higashi,Hakata-ku,Fukuoka
812-0013,Japan

Established

September 1978

Capital14,041.83 million yen

Number of employees

2,054people（Consolidated）

Number of bases, main bases
HS division

５ HQs, 63 sites

ES division

12 sites

SE division

２ HQs, 14 sites

PV division

35 sites

PPS division

１ sites

ERD division

18 factories *Includes power plants and final disposal facilities of Group companies

Group Companies
Company Name

Main business contents

Related business

ＨＳ・ＰＶ

SUNAIM INCORPORATEDSANIX ENERGY INCORPORATED

ＥＲＤ

Voting rights
ownership
ratio

Manufacture and sale of pharmaceuticals and other products,
and vehicle leasing and rental

100.0%

Power generation using plastics as recycled fuel100.0%

Contracted development of various information systems,
provision of various solution systems and temporary staﬃng

100.0%SANIX SOFTWARE DESIGN INCORPORATED

ＨＳ・ＰＶ

SANIX TAIYOUKOU DENKI INCORPORATEDＰＰＳElectricity retail business for households

100.0%SANIX SOLUTION INCORPORATED

ＥＲＤ

Waste treatment consultant and sales of fuel additives, etc.

67.5%

ＰＶ・ＳＥ

Production, sales, import and export of photovoltaic modules
and related components

100.0%SHANRI (SHANGHAI) ENERGY SCIENCEAND TECHNOLOGY CO.,LTD
C & R INCORPORATED

ＥＲＤ

Final disposal and recycling of industrial waste,
oil tank cleaning, etc.

100%
（100%）HOKKAIDO SANIX KANKYO INCORPORATED

ＥＲＤ

Industrial waste disposal business and related businesses

100%（100%）SE WINGS INCORPORATEDＥＲＤPower purchase, retail and other power-related businesses

100%（100%）

Production and sales of photovoltaic modules

100%（100%）SHANRI (JIASHAN) ENERGY SCIENCE ANDTECHNOLOGY CO.,LTD

ＰＶ・ＳＥ＊The ﬁgures in parentheses in the percentage of voting rights held indicate the percentage of indirect ownership.

Visit our WEB site
For more information about us, please visit our WEB site.
SANIX company information
https://sanix.jp/lang̲en/
Financial Summary
https://sanix.jp/lang̲en/ﬁnancial.html

74