FineToday to Install its First Solar Panels at Manufacturing Site in Vietnam
FineToday Holdings Co., Ltd. (FTHD, Head Office: Minato-ku, Tokyo; Representative Director, CEO: Tetsuo Komori) hereby announces that it will install solar panels at Vietnam Factory operated by its subsidiary, Shiseido Vietnam Inc. (SVI). This will be the first installation of solar panels within the FineToday Group's facilities. Construction is scheduled to begin in March 2024, with operations to commence in July of the same year.
■Summary of Installation
The panels will be installed on the roof of the factory. As a result of this project, SVI will be able to cover approximately 40% of its electricity consumption from renewable energy sources. This will lead to an estimated reduction of 2,604 tons, equivalent to 50% of annual CO2 emissions of the site※1 and contribute to minimizing the impact of the future electricity cost increase in Vietnam.
| Location | Shiseido Vietnam Inc. |
| Address |
Lot 231-233-235-237, Amata Road, Amata Industrial Park, Long Binh Ward, Bien Hoa City, Dong Nai Province, Vietnam |
| Installation area | 17,852㎡ (number of panels: 4,858) |
| Power generation capacity (Estimated) | 3,848,400 KWh/year |
| CO2 emission reductions (Estimated) | 2,604 t/year |
| Start of operation | Scheduled for July 2024 |
Left: Exterior of Vietnam Factory Right: Rooftop where panels will be installed
■Objectives of Installation
Since its establishment, the FineToday Group has been pursuing both business operations and the sustainability of the planet. In particular, regarding the promotion of ESG measures, we have formulated a mid-to-long-term vision, "Fine Today & Tomorrow 2030," and aim to achieve each KPI set in the four areas (Principles of Governance, People, Planet, and Prosperity.)Under the "Planet" category, working through our value chain, we aim to reduce our own greenhouse gas emissions※2 by 42% and indirect emissions※3, which encompasses value chain emissions by 25% by 2030 in comparison to 2021 emission volumes. In January 2024, these reduction targets are certified under the Science-Based Targets initiative to limit the rise in global temperature to no more than 1.5 ℃ above pre-industrial levels ※4.
In Vietnam where SVI is located, the government has set a goal of achieving virtually zero greenhouse gas emissions (carbon neutrality) by 2050. Although the demand for electricity is expected to continuously increase due to economic development and population growth, the government has set a policy of raising the share of renewable energy within the country's power supply, and aims to install rooftop solar energy system to 50% of office buildings and residences by 2030※5.
As a company that operates a manufacturing site in Vietnam, SVI is aware of its responsibility to realize a carbon-neutral society, and will contribute to the reduction of greenhouse gas emissions through the installation of solar panels.
※2 Direct emissions from in-house fuel use and industrial processes (Scope 1) and indirect emissions from the use of electricity and heat purchased by the company (Scope 2)
※3 Other indirect emissions from business activities, including within the value chain (Scope 3)
※4 Press release of January 15, 2024:FineToday's GHG Reduction Targets Receive SBT Initiative Certification
※5 Reports of Japan External Trade Organization (JETRO). May 30, 2023: 8th National Electricity Basic Plan promulgated, two years behind initial schedule (Vietnam),May 6, 2022:Vietnam's efforts toward carbon neutrality (May 2022)(Japanese Only)