January 26, 2022
Institute of Industrial Science, The University of Tokyo
Prime Planet Energy & Solutions, Inc.
Energy Company, Panasonic Corporation
Toyota Tsusho Corporation

Institute of Industrial Science, The University of Tokyo, Prime
Planet Energy & Solutions Inc., Panasonic Corporation, Toyota
Tsusho Corporation commencesindustry-university collaborative research onbattery resources and recycling

Institute of Industrial Science, The University of Tokyo (UTokyo-IIS), Prime Planet Energy &Solutions Inc. (PPES), Energy Company, Panasonic Corporation (Panasonic), and Toyota
Tsusho Corporation (TTC) announced the start of joint research on battery resources andrecycling with the aim of contributing to a more sustainable society.
The joint research will focus on the development and manufacturing process of battery materials
using resources and recycled materials found in lithium-ion batteries. The project’s aim is therealization of carbon neutrality and a significant reduction in production costs throughout theentire battery supply chain through the creation of an innovative new manufacturing process.
Specifically, we will conduct joint research on the following topics:(1) Development of new processes in an integrated manner, ranging from resource
development to battery material development and manufacturing
By reviewing existing processes from the development of nickel, lithium, and cobalt metal
resources and refining these in the development and manufacturing of battery materials, we theaim to solve issues such as reducing CO2 emissions, lowering production costs, and shortening
the lead time for material production by developing new optimal processes that are more
specialized for battery applications. The joint research aims to solve issues such as reduction of
CO2 emissions, reduction of production costs, and shortening of lead time for materialproduction. The research will not only focus on the development of elemental technologies but
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will also examine ways to speedily utilize the development results in commercial applications.

(2) Development of new processes for recycling of battery waste materials and usedbatteriesWith the aim of further improving the recycling rate of batteries, we will promote thedevelopment of technologies for efficient and waste-free recycling of leftover materials frombattery manufacturing and used batteries. By combining the knowledge of four parties - battery
manufacturers, trading companies that oversee recycling, collection, and processing, anduniversities that possess comprehensive rare metal refining technologies - and creating an
optimal process, we will be able to reduce CO2 emissions and recycling costs, which are currently
issues in the recycling process. By combining the knowledge of these groups, we aim tosignificantly reduce CO2 emissions and recycling costs.
UTokyo-IIS, PPES, Panasonic, and TTC will work on technological innovation and social
implementation of lithium-ion batteries, whose market is expected to further expand in thefuture, to ensure a more stable supply, reduce CO2 emissions over the entire battery life cycle,and lower costs.
Based on the common aspiration of contributing to the realization of a carbon-neutral andenvironmentally friendly recycling-focused society, the four companies will take on the challengeof developing and strengthening the foundation of the battery industry as a single team ofexperts from industry, academia, and beyond the traditional boundaries of business.
Based on the above, the four parties signed an "Industry-Academia Collaboration and Research
Cooperation Agreement" on January 26 to promote mutual collaboration and active promotion.
Comments from the UTokyo-IIS and representatives of each company
Toru H. Okabe, Director General, Institute of Industrial Science, The University of Tokyo“Through this new style of flexible industry-academia collaboration, we will not only develop
excellent human resources in this field, but also contribute to the realization of a sustainable
recycling society by leading the world in the development of new technologies with a specificfocus on social implementation through wide-ranging initiatives that extend all the way to thesource of the supply chain.”2

Hiroaki Koda, President, Prime Planet Energy & Solutions, Inc.
“We are honored to have formed a very strong partnership for the growth and development ofthe battery industry. Through this initiative, we will contribute to a decarbonized society byaccelerating the creation of an environmentally friendly and competitive battery supply chain,
and at the same time, we will strive to utilize our knowledge as a battery specialist for the benefitof the world at large."
Shoichiro Watanabe, Vice President & CTO, Energy Company, Panasonic Corporation"We are privileged to participate in the effort to realize a carbon-neutral society through a strong
partnership in industry-academia collaborative research. We will make extensive use of ourknowledge as a battery manufacturer, including the clarification of raw material standards forthe application of batteries, and contribute to the construction of social systems such as supply
chain resilience and recycling."
Masaharu Katayama, COO for Metals Division, Toyota Tsusho Corporation“We are honored to be able to contribute to a carbon-neutral society by building a competitive
supply chain with Japan's leading players. We will not only supply battery materials, but also
contribute to the reduction of environmental impact and the formation of a recycling-oriented
society by promoting recycling, making use of our knowledge in the recycling-oriented venousbusiness.”

ReferenceInstitute of Industrial Science, The University of Tokyo

Institute of Industrial Science, The University of Tokyo (UTokyo-IIS) is one of the largest
university-attached research institutes in Japan. More than 120 research laboratories, eachheaded by a faculty member, comprise UTokyo-IIS, with more than 1,200 members including
approximately 400 staff and 800 students actively engaged in education and research. Our
activities cover almost all the areas of engineering disciplines. Since its foundation in 1949,
UTokyo-IIS has worked to bridge the huge gaps that exist between academic disciplines andrealworld applications.
Director General: Toru H. Okabe
Website: https://www.iis.u-tokyo.ac.jp/en/3

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Prime Planet Energy & Solutions, Inc.

Prime Planet Energy & Solutions started operations in April 2020 as a joint venture for
automotive prismatic batteries (owned 51% by Toyota Motor Corporation and 49% by
Panasonic Corporation).
Details of Business: Development, manufacturing and sale of automotive prismatic lithium-ion
batteries.
Head office: Chuo-ku, Tokyo
President: Hiroaki Koda
Website: https://www.p2enesol.com/en/Energy Company, Panasonic Corporation

Engaged in the global B to B business of dry cell batteries that support convenient andcomfortable daily life, industrial batteries that support social infrastructure in a wide range offields, and automotive batteries, etc. On April 1, 2022, the company will become “Panasonic
Energy Co., Ltd.”.
Main businesses: Lithium-ion batteries, energy storage modules, energy storage systems, drybatteries, lithium primary batteries, nickel-metal hydride batteries
Development, production, and sales of lithium primary batteries and nickel metal hydridebatteries.
Head office: Moriguchi City, Osaka Prefecture
President: Kazuo Tadanobu
Website: https://www.panasonic.com/global/corporate/energy.html
Toyota Tsusho Corporation

Toyota Tsusho was founded in 1948 as the trading company of the Toyota Group. The company
has seven operating divisions (Metals/ Global Parts & Logistics/ Automotive/ Machinery, Energy& Plant Project/ Chemicals & Electronics/ Food & Consumer Services/ Africa), withapproximately 64,000 group employees engaged in business in about 120 countries around theworld.
Main businesses: Domestic trading of various goods, import/export trading, foreign trade,
construction contracting, insurance agency services, etc.
Head office: Nagoya City, Aichi Prefecture
President and CEO: Ichiro Kashitani4Website: Toyota Tsusho Corporation (toyota-tsusho.com)

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