What is Idemitsu Kosan's strategic shift regarding fossil fuels, and how does it reconcile this with its carbon neutrality goal?

Idemitsu Kosan has renewed its focus on fossil fuels—allocating ¥590 billion (70% of existing business investments) to petroleum—to strengthen the foundation of its existing businesses and maintain profitability amid energy market uncertainties and setbacks in decarbonization policies; simultaneously, it reaffirms its commitment to achieving carbon neutrality by 2050 through parallel investments in biofuels, geothermal energy, hydrogen, ammonia, sustainable aviation fuel (SAF), synthetic fuels, and chemical recycling, including a commercial chemical recycling facility launched in April 2026.

How much is Idemitsu Kosan investing in total through FY2030, and how is that capital allocated between existing businesses and carbon-neutral/growth initiatives?

Idemitsu Kosan will invest a total of ¥1.8 trillion ($11.4 billion) through fiscal year 2030, with ¥830 billion allocated to existing assets—including ¥590 billion for petroleum and ¥110 billion for basic chemicals—and approximately ¥810 billion directed toward carbon-neutral and growth businesses such as electrification (EVs, batteries, electronic devices), overseas expansion, and circular economy initiatives like recycled plastics.

Japan’s Idemitsu Kosan signals renewed focus on fossil fuels to maintain profitability

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Japan’s Idemitsu Kosan signals renewed focus on fossil fuels to maintain profitability — ChemBrief Topics

Japan’s Idemitsu Kosan signals renewed focus on fossil fuels to maintain profitability

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