November 30, 2021
Renoveru, Inc.
Kanazawa Institute of Technology
Kokushikan University

FOR IMMEDIATE RELEASE

Reducing CO2 Emissions by 76% and Waste Generated by 96% Through Renovations*1
Joint Industry-Academia Research Toward a Decarbonized Society
Reduction per unit equivalent to the amount absorbed by 7,500 cedar trees a year

Renoveru, Inc. (Headquarters: Minato-ku, Tokyo; Founder & CEO: Tomohiro Yamashita; hereinafter "Renoveru") is Japan's top *2
company that offers a one-stop service for finding resale apartments, renovation, and creating renovation platforms usingtechnology. Renoveru has confirmed that renovated properties can reduce CO2 emissions by up to 76% and waste generated by up
to 96% when compared to demolishing an existing building and building a new property of the same scale. The findings come fromjoint research with the labs of Kouichi Sato , Kanazawa Institute of Technology and Kanako Asabuki of Kokushikan University,
which used two housing complexes renovated by Renoveru—Kita-Narashinodai Project and Togoshi-Koen Project—to evaluate theeffect of renovation in reducing CO2 emissions and waste generation.
CO2 emissions during the demolition of existing buildings, design supervision, material production, and construction stages of theKita-Narashinodai Project were approximately 3,300 tons, which is similar to the amount absorbed by approximately 37,000 cedar
trees in one year*3, and equivalent to a cedar forest of approximately 375 hectares or approximately 5.1 Meiji Jingu Shrines*4.
Furthermore, on a per-unit basis, there was a reduction of approximately 66 tons of CO2 emissions. This is equivalent to the amountabsorbed by approximately 7,500 cedar trees in a year*3.
This research demonstrated that renovation can be one of the solutions for a decarbonized society. Going forward, Renoveru willcontinue to quantify the amount of CO2 reduction and waste reduction through projects, verify and announce the impact ofrenovation on the environment, and use renovation to contribute to the realization of a recycling-oriented society and adecarbonized society.
1. CO2 emission study results: Comparison between
scrap-and-build and renovation*5①When evaluating the demolition, design supervision,materials production, and construction phases of an existingbuilding
Kita-Narashinodai Project
The amount of CO2 emissions per building was reduced by
76% compared to scrap-and-build, with the reduction
calculated to be approximately 3,300 tons. This works out
as a reduction of approximately 66 tons on a per-unit basis.
Togoshi-Koen Project
The amount of CO2 emissions per building was reduced by
63% compared to scrap-and-build, with the reduction
calculated to be approximately 336 tons. This works out asa reduction of approximately 42 tons on a per-unit basis.

② When evaluating 20 years of running (operation, refurbishment stage) after renovation or new build in addition to ① above
Kita-Narashinodai Project
The amount of CO2 emissions per building per 20 years was reduced by 34% compared to scrap-and-build, with the reduction
calculated to be approximately 3,050 tons. This works out as a reduction of approximately 61 tons on a per-unit basis.
Togoshi-Koen Project
The amount of CO2 emissions per building per 20 years was reduced by 25% compared to scrap-and-build, with the reduction
calculated to be approximately 272 tons. This works out as a reduction of approximately 34 tons on a per-unit basis.
2. Results of study on waste generation: whenevaluating the comparison of scrap-and-build withrenovations (demolition of existing buildings andconstruction stages)
Kita-Narashinodai Project
The amount of waste generated per building was reduced by
96% compared to scrap-and-build, with the reduction
calculated to be approximately 7,289 tons. This works out asa reduction of approximately 146 tons on a per-unit basis.
Togoshi-Koen Project
The amount of waste generated per building was reduced by
94% compared to scrap-and-build, with the reduction
calculated to be approximately 751 tons. This works out as a
reduction of approximately 94 tons on a per-unit basis.

Effect of renovation on reducing carbon dioxide emissions and waste generation
Togoshi Koen Project

Kita-Narashinodai Project

１－①
Demolition of exist
buildings
Design supervision,materials production,and construction
stage
１－②
In addition to (1)above, renovation oroperation andrefurbishment stage
for 20 years after
new build２
Existing building
demolition andconstruction stage

Reduction(a)=(b)-(c)

Scrap-and-build(b)Renovation(c)

Reduction(d)=(e)-(F)Scrap-and-build(e)Renovation(f)

1building

3,300

4,400

1,100

336

528

192

1unit

66

88

22

42

66

24

1building

3,050

9,100

6,050

272

1,096

824

1unit

61

182

121

34

137

103

1building

7,289

7,576

287

751

801

50

1unit

145.8

151.5

5.7

94.0

100.2

6.2

CO2

emissi
ons
（t）

CO2

emissi
ons
（t）

Waste
generated（t）Source: “Effect of renovation on reducing carbon dioxide emissions and waste generation”(Renoveru, research laboratories of Kouichi Sato, Kanazawa Institute of Technology and Kanako Asabuki,
Kokushikan University) - compiled by Renoveru based on the above.
。

Properties covered
Two properties of different ages and sizes were evaluated.
Kita-Narashinodai Project
Renovation of a 19-year-old apartment complex (Funabashi, Chiba; 6 above-ground stories; 4,042 m2 of total floor space;reinforced concrete; 50 units; 65.93 m2 of average exclusive use area), including both private and common spaces.
Togoshi-Koen Project
Renovation of a 49-year-old rental apartment complex (Shinagawa Ward, Tokyo; 4 above-ground stories; 487.34 m2 of total floorspace; reinforced concrete; 8 units; 45.13 m2 of average exclusive use area), including both private and common spaces.
Background of the initiative
Since the declaration of carbon neutrality in 2020, CO2 emission reduction targets for 2030 have been set, and significant
reductions are required in various fields. ESG is also becoming more important in corporate activities, influencing the evaluation ofcorporate value. The Sustainable Development Goals, as a common global target for industry, government, and the public, arebeginning to influence people's consumption decisions.
Renovating buildings can contribute to the reduction of CO2 emissions by greatly reducing the amount of materials and the amountof fuel used during construction compared to new builds. Furthermore, waste generated by demolishing buildings can also be
significantly reduced. However, due to the highly individualized nature of building renovation and the lack of previously examinedcase studies, its effects had not been quantified or visualized.
This led Renoveru to team up with the research labs of Kouichi Sato of Kanazawa Institute of Technology and Kanako Asabuki of
Kokushikan University to conduct joint industry-academia research to calculate and visualize the CO2 and waste reduction effect.
Since its establishment, Renoveru has been striving to realize a recycling-oriented society by improving the longevity of existingbuildings and revitalizing their distribution through renovations that revive the function and value of existing housing. The company
also seeks to realize a shift to a sustainable and environmentally friendly recycling-oriented society that makes use of existing stockby further promoting the provision of renovation as a sustainable option through proposals such as improving thermal performancein renovations.
Comment from Professor Kouichi Sato, Kanazawa Institute of Technology“I hope that building up this kind of case study will lead to the establishment of the following two norms.
First, a method of collecting data on buildings to obtain information on CO2 emissions. Second, a method of selecting what tocompare something with when examining how it reduces CO2 emissions.”
Comment from Assistant Professor Kanako Asabuki, Kokushikan University“Something I found interesting in this research is how the CO2 reduction effect differed depending on individual characteristics of therenovation. Moving forward, I would like to continue research on how renovation can contribute to decarbonization and resource
recycling.”*1 Comparison of the amount of CO2 emissions during the demolition, design supervision, material manufacturing, and construction stages ofexisting buildings and the amount of waste generation during the demolition and construction stages of existing buildings “Kita-Narashinodai Project”
Source: “Effect of renovation on reducing carbon dioxide emissions and waste generation” (Renoveru, research laboratories of Kouichi Sato,Kanazawa Institute of Technology and Kanako Asabuki, Kokushikan University)

*2 Number of one-stop renovations (Ranked the top one-stop service company in the Japan Journal of Remodeling: Apartment Reform Profit
Ranking 2021)*3 One hectare (1,000 trees) of a man-made forest of appropriately maintained cedar trees with a 36 to 40 year lifespan is estimated to absorb
approximately 8.8 tons of carbon dioxide a year (Forestry Agency calculation)*4 Meiji Jingu Shrine is approximately 73 hectares in size.
*5 The evaluation was conducted by calculating the type and quantity of materials from the plans of existing buildings, completed renovation plans,and estimate for each building. CO2 emissions during the design, material production, construction, operation (excluding energy), and disposal
stages are calculated using the “LCA Tool for General Buildings Ver. 5.00” published by the Architectural Institute of Japan. (Since apartmentcomplexes are comprised of an extremely wide variety of materials, input was omitted for materials with low quantity of use and low CO2 emissions,and exterior and planting were excluded from the evaluation.) CO2 emissions associated with energy consumed in operating renovated buildings
were calculated by inputting energy consumption performance calculated by Housing Complex Floor Input Method Calculation Program Ver 3.0.3
and Energy Consumption Performance Calculation Program Ver 3.0.0 Housing Edition into CASBEE Architecture (New Build) Evaluation Software
CASBEE-BD_NC_2021v1.04 ), which is published by the Japan Sustainable Building Consortium.
*6: The evaluation calculates the types and amount of waste originating from buildings themselves by using the plans of existing buildings andcompleted renovation plans.

Profile of Professor Kouichi Sato, Kanazawa Institute of Technology
Graduated from the Department of Architecture, Faculty of Engineering, the University of Tokyo in 1990. In 1997, he completed adoctoral course at the Graduate School of Engineering, University of Tokyo. Holds a doctorate in engineering. After taking up roles
such as representative secretary of A/E WORKS Association, he now works as a professor at Kanazawa Institute of Technology.
Has co-authored works such as Architectural Revitalization (Ichigaya Publishing), and Wood Fireproofing (Planning, Design,Construction) Manual (X-Knowledge)
Profile of Assistant Professor Kanako Asabuki, Kokushikan University
Graduated from the Department of Architecture, Faculty of Engineering, The University of Tokyo in 2002. In 2007, she completed adoctoral course at the Graduate School of Frontier Sciences[A3] , the University of Tokyo.
Holds a doctorate in environmental studies. After working as a technical official at the Ministry of Land, Infrastructure, Transport andTourism, she is currently an associate professor at Kokushikan University. Her research focuses on resource recycling inconstruction and the environmental impact of building renovation and demolition. Has co-authored works such as ArchitecturalMaterials New Textbook and Visual Architectural Production Reference (Shokokusha[A4] Publishing).

Renoveru, Inc. Profile
Renoveru has established Japan’s leading platform for the distribution of used apartments, the utilization of existing buildings, and renovation. The
company has been working to strengthen its value chain by expanding its partner network to include real estate, design firms, building contractors,
interior designers and financial institutions throughout Japan and leveraging its extensive track record of over 3,700 units to develop products thatcater to the renovation industry.
Launched Renoveru, a one-stop service for finding and renovating resale apartments, in 2010. Operates showrooms with renovated areas acrossJapan, and provides one-stop support for the entire process from finding a resale apartment to renovating it, spanning everything from property
search to mortgaging, designing renovations, construction, and interiors. In addition, as part of its “urban creation business,” the company engages
in the real estate revitalization business for enterprises, including renovation and conversion of single buildings, and design of commercial facilities
and offices. Renoveru hopes to design places where people will gather, enhance the charms of the neighborhood, and bring people and theneighborhood together.
The company supports planning, architectural design and construction to create value that will last into the future.

Company name: Renoveru, Inc.
Founder & CEO: Tomohiro Yamashita
Capital and capital surplus: 2,439,860,000 yen
Established: April 2010
Address: Headquarters Tatsumura Aoyama Building, 5-4-35 Minami-Aoyama, Minato-ku, TokyoBusiness: Technology-driven renovation platform business, renovation of apartments and stand-alone houses, single building renovation, designand construction of stores, offices, and commercial facilities, as well as consulting.
Corporate website URL: https://renoveru.co.jp/Renoveru URL: https://www.renoveru.jp/
URL for the Urban Development Business Service website: https://renoveru.co.jp/citycreate/