Nissha Co., Ltd. (hereinafter “Nissha”) has entered into financial and business partnership with Sulapac Oy (Headquarters: Finland, hereinafter "Sulapac"), the material innovation startup.

Sulapac, the science-based startup, has developed beautiful, functional, and sustainable materials that have all the good qualities of conventional plastics yet biodegrade without leaving permanent microplastics behind. Sulapac’s biocomposite is a drop-in solution that is suitable for existing plastic machinery and mass production. It is bio-based, sustainably sourced, and designed to replace conventional plastics.

Since Nissha recognizes that providing sustainable products which contribute to a sustainable society becomes a business opportunity as global interest in sustainability is increasing, our Industrial Materials Business Unit provides molded products “ecosense molding”, made from environmentally-friendly materials under Nissha ecosense brand. As one of ecosense molding lineups, Nissha has produced and sold containers made from Sulapac materials, Biocomposite-Injection Sulapac®, mainly for food supplements and cosmetics under the strategic partnership with Sulapac up to the present. With this strengthening our partnership, Nissha will attempt to expand product lineups of ecosense molding and accelerate sales in global market.

*Sulapac is registered trademark or a trademark of Sulapac Oy.

The impact of this transaction on Nissha’s consolidated results for the current fiscal year is expected to be negligible. Going forward, if revisions to business forecasts or the announcement of other matters become necessary, we will make prompt disclosure of the same.