We trade nuclear fuel based on one of ITOCHU's material missions, “Ensure stable procurement and supply.”
ITOCHU has signed a long-term, large-scale uranium concentrate purchase agreement with Navoi Mining and Metallurgical Combinat (NMMC), an Uzbek state-owned enterprise that celebrated its 60th year since establishment in 2018. Through initiatives such as this, we remain greatly committed to the stable supply of nuclear fuel to Japan and overseas.
The nuclear fuel business conducted by ITOCHU and our subsidiaries and associates are account book transfer transactions at storage locations that strictly comply with all laws and regulations relating to nuclear energy safety. Our business does not involve the actual handling of uranium. These transactions do not involve radiation exposure to employees or local residents. All the nuclear fuel we handle is used for peaceful purposes (e.g., power generation). We engage in transactions in compliance with laws and regulations relating to nuclear energy safety and security, both in Japan and overseas, conforming to the standards established by the International Atomic Energy Agency (IAEA), e.g., the Atomic Energy Basic Law.
Therefore, ITOCHU is not involved in risk management related to radiation exposure or radioactive waste disposal. Nevertheless, we undertake all operations in this area with a deep understanding of our mission and ethical responsibilities we bear being as part of the nuclear fuel cycle.