Press Release

Press Release

Capital and business alliance with major organic rice producer nakamori agroindustry

November 08, 2024
Chubu Electric Power Co.,Inc.

Chubu Electric Power and nakamori agroindustry, Inc. (CEO: Tsuyoshi Nakamori; Location: Kazo, Saitama Prefecture; hereinafter "nakamori agroindustry") have entered into a business alliance (the "Agreement") aimed at realizing a sustainable agricultural business model by expanding the production and distribution of organic rice. Chubu Electric Power today announced that it has invested approximately 60 million yen in a third-party allotment of new shares by nakamori agroindustry.

nakamori agroindustry is an agricultural production corporation that produces and sells organic rice and other products, and has expanded its cultivated area to 300 hectares in just six years since its establishment in 2017. The company operates efficient farms through its proprietary organic rice production know-how and smart farming utilizing IoT and AI, and aims to expand its cultivated area to 100,000 hectares in the future by taking over farmland of agricultural cooperatives, etc., which are facing problems such as lack of successors.

Based on the Agreement, Chubu Electric Power, in cooperation with nakamori agroindustry, aims to establish a large-scale and efficient production system for organic rice and other products in the Chubu area in order to expand rice production and distribution volume. In addition, the two companies will study the creation of a new business model that combines the resources and services of both companies to solve social issues in the agricultural sector.

By collaborating with nakamori agroindustry and other partners in large-scale production of organic rice, etc., and in the establishment of farming systems with reduced environmental impact, we will build a food infrastructure that will help solve social issues in the agricultural sector and contribute to the realization of a sustainable and livable society and the achievement of the SDGs.

<Reference> Company Profile of nakamori agroindustry

Company Name

nakamori agroindustry, Inc.

Representative

Tsuyoshi Nakamori, CEO

Headquarters

797-1 Togawa, Kazo, Saitama Prefecture

Capital

53 million yen (including capital reserve)

Established

February 16, 2017

Business Activities

Production, processing and sales of agricultural products, contract farming, storage and transportation of agricultural products

Website

nakamori agroindustry, Inc. website

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