Joint Research Toward Realizing a Circular Economy for Plastics
Honda Trading Corporation has partnered with Mizuho Bank, Mizuho Research & Technologies, and five other companies to conduct joint research on building a plastic recycling supply chain in Kyushu. The project focuses on utilizing chemical recycling to supply recycled plastic materials for the automotive industry, addressing global environmental regulations and the need for sustainable resource circulation.
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- 📰 Published: March 30, 2026 at 19:10
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Honda Trading Corporation (Tatsuya Natsume, President and Representative Director) has participated in an initiative planned and promoted by Mizuho Bank, Ltd. (Katsuhiko Kato, President & CEO) and Mizuho Research & Technologies, Ltd. (Masatoshi Yoshihara, President & CEO). Together with Ishizaka Group (Takamitsu Ishizaka, Representative Director), CFP Corporation (Namie Fukuda, Representative Director), Taiyo Oil Co., Ltd. (Takahiro Yamamoto, President and Representative Director), Toyota Tsusho Corporation (Toshimitsu Imai, President and CEO), and Nissan Trading Co., Ltd. (Takeshi Ishii, President and CEO), the company conducted joint research on the feasibility of building a plastic recycling supply chain utilizing chemical recycling, primarily in the Kyushu region, as part of efforts to realize a circular economy for plastics.
1. Background of the Joint Research
In recent years, there has been an increasing demand both domestically and internationally to reduce environmental impact due to the worsening plastic waste problem and the need to realize a resource-circulating society. In particular, the European Union (EU) has indicated a direction toward mandating the use of a certain percentage of recycled plastic materials in new vehicle production through the revision of the End-of-Life Vehicles (ELV) Directive. In response to these global regulatory trends, building a new supply chain for the expansion and stable procurement of recycled materials has become an urgent issue for the Japanese automotive industry.
Given this situation, the eight participating companies pooled their expertise to conduct joint research on the feasibility of building a plastic recycling supply chain to supply recycled materials necessary for automobile manufacturing in Kyushu, a region that serves as a hub for the automotive industry and is seeing the development of semiconductor-related industries.
2. Overview of Joint Research Activities
(Activities)
- Survey on the collection volume of used plastics
- Analysis of recycling technology (suitability for oil conversion plants and oil refineries)
- Analysis of facility location and logistics
- Cost analysis regarding recycled materials
- Analysis of receptivity among consumers
- Verification of measures to bridge price gaps
(Image: Conceptual diagram of the chemical recycling chain in Kyushu)
(Roles of each company)
- Ishizaka Group: As a recycler with extensive long-term expertise, they conduct collection, sorting, processing, and recycling of various wastes, including plastics, primarily in Kyushu. They verified the connectivity with the oil conversion process through collection and advanced sorting tailored to recycling applications.
- CFP: As a chemical recycling operator with proprietary technology to convert used plastic into oil, they verified the connectivity with the oil refining process through technical verification of the oil conversion process, examination of processing conditions based on raw material characteristics, and quality evaluation of oil conversion products.
- Taiyo Oil: Based on long-standing oil refining technology and expertise, they verified the possibility of stable conversion into reusable products as "chemical recycling chemicals" by using decomposition oil derived from used plastic as a raw material for oil refining and petrochemical equipment.
- Toyota Tsusho, Nissan Trading, Honda Trading: Based on relationships and know-how cultivated over many years with automotive-related companies, including finished vehicle manufacturers, they verified the collection potential of used plastics from the automotive industry, such as ELVs, factory-derived waste, and logistics materials, and verified the connectivity with the oil conversion process.
- Mizuho Bank, Mizuho Research & Technologies: Aiming to create a circular economy industry as a focus area in sustainable business, they planned, formulated, and promoted this initiative, while also evaluating, analyzing, and summarizing the feasibility of building the supply chain.
3. Key Implications Based on Research Results
(Future Considerations)
- Accumulation of raw material procurement based on the assumed capacity of oil conversion plants
- Coordination of cost acceptance with consumers after specifying applications
- Securing clear demand for chemical recycling-derived recycled materials for capital investment decisions
(Expectations for Policy)
- Support for studies to identify fields where recycled plastics should be supplied on a priority basis
- Support for stimulating demand for domestically manufactured recycled materials
Moving forward, Honda Trading will continue to take on the challenge of building a supply chain for the supply of recycled plastic materials necessary for automobile manufacturing and other purposes through plastic recycling that utilizes chemical recycling, including in the Kyushu region.
1. Background of the Joint Research
In recent years, there has been an increasing demand both domestically and internationally to reduce environmental impact due to the worsening plastic waste problem and the need to realize a resource-circulating society. In particular, the European Union (EU) has indicated a direction toward mandating the use of a certain percentage of recycled plastic materials in new vehicle production through the revision of the End-of-Life Vehicles (ELV) Directive. In response to these global regulatory trends, building a new supply chain for the expansion and stable procurement of recycled materials has become an urgent issue for the Japanese automotive industry.
Given this situation, the eight participating companies pooled their expertise to conduct joint research on the feasibility of building a plastic recycling supply chain to supply recycled materials necessary for automobile manufacturing in Kyushu, a region that serves as a hub for the automotive industry and is seeing the development of semiconductor-related industries.
2. Overview of Joint Research Activities
(Activities)
- Survey on the collection volume of used plastics
- Analysis of recycling technology (suitability for oil conversion plants and oil refineries)
- Analysis of facility location and logistics
- Cost analysis regarding recycled materials
- Analysis of receptivity among consumers
- Verification of measures to bridge price gaps
(Image: Conceptual diagram of the chemical recycling chain in Kyushu)
(Roles of each company)
- Ishizaka Group: As a recycler with extensive long-term expertise, they conduct collection, sorting, processing, and recycling of various wastes, including plastics, primarily in Kyushu. They verified the connectivity with the oil conversion process through collection and advanced sorting tailored to recycling applications.
- CFP: As a chemical recycling operator with proprietary technology to convert used plastic into oil, they verified the connectivity with the oil refining process through technical verification of the oil conversion process, examination of processing conditions based on raw material characteristics, and quality evaluation of oil conversion products.
- Taiyo Oil: Based on long-standing oil refining technology and expertise, they verified the possibility of stable conversion into reusable products as "chemical recycling chemicals" by using decomposition oil derived from used plastic as a raw material for oil refining and petrochemical equipment.
- Toyota Tsusho, Nissan Trading, Honda Trading: Based on relationships and know-how cultivated over many years with automotive-related companies, including finished vehicle manufacturers, they verified the collection potential of used plastics from the automotive industry, such as ELVs, factory-derived waste, and logistics materials, and verified the connectivity with the oil conversion process.
- Mizuho Bank, Mizuho Research & Technologies: Aiming to create a circular economy industry as a focus area in sustainable business, they planned, formulated, and promoted this initiative, while also evaluating, analyzing, and summarizing the feasibility of building the supply chain.
3. Key Implications Based on Research Results
(Future Considerations)
- Accumulation of raw material procurement based on the assumed capacity of oil conversion plants
- Coordination of cost acceptance with consumers after specifying applications
- Securing clear demand for chemical recycling-derived recycled materials for capital investment decisions
(Expectations for Policy)
- Support for studies to identify fields where recycled plastics should be supplied on a priority basis
- Support for stimulating demand for domestically manufactured recycled materials
Moving forward, Honda Trading will continue to take on the challenge of building a supply chain for the supply of recycled plastic materials necessary for automobile manufacturing and other purposes through plastic recycling that utilizes chemical recycling, including in the Kyushu region.