We trade in nuclear fuel based on one of ITOCHU's material sustainability issues, “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 Uzbeki state-owned enterprise that celebrated its 60th year in 2018. Though initiatives like this, we remain greatly committed to the stable supply of nuclear fuel to Japan.
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.
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 the practical and ethical responsibility we bear in handling a part of the nuclear fuel cycle.