【NEWS RELEASE】
July 17, 2024
Sumitomo Mitsui Banking Corporation
Investment in "CHITOSE Group”, a family of biotechnology companies
TOKYO, July 17, 2024 --- Sumitomo Mitsui Banking Corporation (President & CEO: Akihiro
Fukutome, hereinafter "SMBC") announced a capital investment agreement with CHITOSE BIO
EVOLUTION PTE. LTD. (CEO: Tomohiro Fujita, hereinafter collectively referred to as "CHITOSEGroup") for an amount of 1 billion yen.
CHITOSE Group is a group of biotechnology companies leading the global bioeconomy (*1). To live
in abundance beyond the next millennium using the ability of living things, CHITOSE Group pursues
the possibilities of biotechnology through technological and business development collaboratingwith its business partners all over the world.
CHITOSE Group develops in breeding and cultivating technology for a wide range of organisms.
They conduct extensive R&D and business development in various fields, including microalgae,cells, fermentation, agriculture, and intestinal bacteria.
As global social issues such as population growth, increasing food shortages, and climate change
become more serious, international attention is paid to the bioeconomy as a means of promotingsustainable economic growth. Government support in Japan is also strengthened in this field, where
the Japanese government developed "Japan's Bioeconomy Strategy" in 2019 to achieve the world’s
most advanced bioeconomy society in Japan by 2030.
Microalgae, which can efficiently produce a variety of valuable raw materials from carbon dioxideand photosynthesis, are expected to be used not only as a substitute for fossil resources but also
for a wide range of other purposes. CHITOSE Group, as an initiative toward the mass production
and commercialization of such biotechnology, is leading the MATSURI (MicroAlgae Towards
SUstainable & Resilient Industry) project, which aims to build a microalgae industry and valuechain.
Sumitomo Mitsui Financial Group, Ltd. (President & Group CEO: Toru Nakashima) has set "Createsocial value" as one of the basic policies in its current Mid-Term Management Plan and designated"environment" as one of its priority issues.
In terms of above issue, "Social Value Creation Investment Fund" (*2) have been established as aframework to support the creation of businesses with customers who wish to create social value
through risk-taking.
1This investment in CHITOSE Group is accomplished within the framework of above. Taking thisopportunity, we will further pursue the decarbonization of the industry by collaborating not only withCHITOSE Group but also with companies that are building value chains utilizing biotechnology.
(※1) Bioeconomy
The knowledge-based production and use of biological resources to provide products, processes
and services in all economic sectors within the frame of a sustainable economic system.
(※2) Social Value Creation Investment Fund
Please kindly refer to the news release “Establishment of Expense Budget for Creation of Social
Values” dated May 17, 2024.
(https://www.smfg.co.jp/news_e/pdf/e20240517_01.pdf)【SUMMARY】CHITOSE BIO EVOLUTION PTE. LTD.
Company NameCHITOSE BIO EVOLUTION PTE. LTD.

Establishment

2011

Address

6 Eu Tong Sen Street #10-12, Singapore 059817, Singapore

Business

Holding and controlling company of CHITOSE Group, which conducts R&D andDescription

business development for the creation of biotechnology-based businesses.
It controls subsidiaries in Japan, Singapore, Malaysia, and Brunei, including“Chitose Laboratory Corporation”, which conducts the actual business.

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