Mitsui Chemicals, IBM Japan, and Nomura Research Institute (NRI) have agreed to establish a consortium to implement traceability to enhance the distribution of recycled materials in the market and realize a resource circulation society.

Mitsui Chemicals and IBM Japan launched collaborative efforts this April to build a circulation platform using blockchain technology for ensuring the traceability of materials. To accelerate and expand these initiatives, these two companies have now joined NRI.

The consortium aims at promoting the use of recycled plastic materials based on traceability, encouraging collaboration and support among stakeholders involved in resource recycling, and building an incentive system for people and companies that contribute to resource recycling.

Planned activities at the consortium include supporting field tests using a resource circulation platform, holding study groups sessions joined by multiple companies, sharing insight and information gained through the consortium, and offering advice to entities both inside and outside of the consortium.

Mitsui Chemicals and partners to establish a consortium for resource circulation. 

The three companies will collaboratively run the consortium and engage in activities where they can demonstrate their strengths:

Mitsui Chemicals will provide insight and skills regarding monomers, polymers, and other substances, and provide technology and knowledge on recycling and other forms of environmental response;

IBM Japan is to support the use of the blockchain-based traceability platform. It will also digitizes the process for recycling waste products and creating new products, as well as the collaborative operational process among multiple companies in the supply chain, and offers support for making these processes traceable.

NRI  will promote transformation in companies and society by utilizing its insight and experience in business model transformation and digitalization, and leveraging its experience in providing advice to industrial associations and government offices.

Masao Sambe, Executive Officer, Digital Transformation Division, Mitsui Chemicals, said, "We have finished a prototype, and we are accelerating efforts toward establishing a platform. By establishing this consortium, we will take the lead in sharing methods and experience and in refining systems and infrastructure while working across different industries."

"IBM Japan will provide support in building a blockchain-based digital platform by drawing from its extensive insight and skills that were cultivated through engaging in digital transformation for many different companies. We will also consider incorporating the benefits offered by the cloud, such as its swift building process and flexibility, to create a hybrid cloud that links with the existing system," stated Yuichiro Shibata, Managing Partner, Strategic Sales, Global Business Services, IBM Japan.

Hirofumi Tatematsu, Senior Executive Managing Director, Division Manager of the Consulting Division, NRI, added, "NRI aims to solve social challenges through co-creation with a diverse range of partners. This consortium will feature Mitsui Chemicals, a key stakeholder for a recycling society, and IBM, a company that retains vital technologies for achieving our goal."

After the consortium is established, it looks forward to welcoming other companies that agree with its aims, such as manufacturers that seek to promote recycling their products or making products using recycled materials, companies in the "resourcing industry" that seek to gain information on the materials of collected or dismantled products to create added value for recycled materials, logistics companies looking to create new solutions for their sector, and financial institutions seeking to engage in ESG investments.

Mitsui Chemicals, IBM Japan, and Nomura Research Institute (NRI) have agreed to establish a consortium to implement traceability to enhance the distribution of recycled materials in the market and realize a resource circulation society.

Mitsui Chemicals and IBM Japan launched collaborative efforts this April to build a circulation platform using blockchain technology for ensuring the traceability of materials. To accelerate and expand these initiatives, these two companies have now joined NRI.

The consortium aims at promoting the use of recycled plastic materials based on traceability, encouraging collaboration and support among stakeholders involved in resource recycling, and building an incentive system for people and companies that contribute to resource recycling.

Planned activities at the consortium include supporting field tests using a resource circulation platform, holding study groups sessions joined by multiple companies, sharing insight and information gained through the consortium, and offering advice to entities both inside and outside of the consortium.

Mitsui Chemicals and partners to establish a consortium for resource circulation. 

The three companies will collaboratively run the consortium and engage in activities where they can demonstrate their strengths:

Mitsui Chemicals will provide insight and skills regarding monomers, polymers, and other substances, and provide technology and knowledge on recycling and other forms of environmental response;

IBM Japan is to support the use of the blockchain-based traceability platform. It will also digitizes the process for recycling waste products and creating new products, as well as the collaborative operational process among multiple companies in the supply chain, and offers support for making these processes traceable.

NRI  will promote transformation in companies and society by utilizing its insight and experience in business model transformation and digitalization, and leveraging its experience in providing advice to industrial associations and government offices.

Masao Sambe, Executive Officer, Digital Transformation Division, Mitsui Chemicals, said, "We have finished a prototype, and we are accelerating efforts toward establishing a platform. By establishing this consortium, we will take the lead in sharing methods and experience and in refining systems and infrastructure while working across different industries."

"IBM Japan will provide support in building a blockchain-based digital platform by drawing from its extensive insight and skills that were cultivated through engaging in digital transformation for many different companies. We will also consider incorporating the benefits offered by the cloud, such as its swift building process and flexibility, to create a hybrid cloud that links with the existing system," stated Yuichiro Shibata, Managing Partner, Strategic Sales, Global Business Services, IBM Japan.

Hirofumi Tatematsu, Senior Executive Managing Director, Division Manager of the Consulting Division, NRI, added, "NRI aims to solve social challenges through co-creation with a diverse range of partners. This consortium will feature Mitsui Chemicals, a key stakeholder for a recycling society, and IBM, a company that retains vital technologies for achieving our goal."

After the consortium is established, it looks forward to welcoming other companies that agree with its aims, such as manufacturers that seek to promote recycling their products or making products using recycled materials, companies in the "resourcing industry" that seek to gain information on the materials of collected or dismantled products to create added value for recycled materials, logistics companies looking to create new solutions for their sector, and financial institutions seeking to engage in ESG investments.