Chiyoda Corporation (Head Office: Yokohama, Kanagawa Prefecture; President and CEO: Koji Ota) , Obayashi Corporation (Head Office: Minato-ku, Tokyo; President and CEO: Toshimi Sato), Kawasaki Heavy Industries, Ltd. (Head Office: Minato-ku, Tokyo; President and CEO: Yasuhiko Hashimoto), and Mitsui O.S.K. Lines, Ltd. (Head Office: Minato-ku, Tokyo; President and CEO: Takeshi Hashimoto) established the Japan�New Zealand Hydrogen Corridor on March 5. The consortium will study the commercialization of green hydrogen production in New Zealand and export operations to Japan.

Hydrogen is expected to play a key role as a clean energy source that does not emit CO2 when burned. Its use is anticipated in the mobility sector, in energy transitions in industries such as steel and chemicals, where reducing greenhouse gas emissions is particularly challenging, and in applications such as co-firing at thermal power plants. Meanwhile, Japan has a low energy self-sufficiency rate, and renewable energy accounts for only a limited share of total energy consumption (*1). For this reason, we believe that meeting future large-scale demand for green hydrogen solely through domestic supply will be difficult.

New Zealand has abundant renewable energy resources, including geothermal power and hydropower, which are essential for green hydrogen production (*2). With the government also announcing a policy to prioritize the development of its hydrogen industry (*3), the country is expected to become a leading hub for green hydrogen production and supply in the Asia-Pacific region in the future. In addition, imports of green hydrogen from New Zealand, which maintains strong diplomatic and trade relations with Japan, are also expected to make a significant contribution to advancing Japan�s decarbonization and strengthening its energy security from the standpoint of establishing a sustainable energy supply under stable international relations.

Under the Japan�New Zealand Hydrogen Corridor, studies will begin in fiscal 2026 to build a hydrogen supply chain originating in New Zealand and to enable the export of green hydrogen from New Zealand to Japan, with imports and exports commencing in the early 2030s. Looking ahead, the initiative aims for New Zealand to become a leading green hydrogen supply hub for Japan, contributing to carbon neutrality in Japan and to the creation of a new export industry in New Zealand. Activities will be carried forward toward these goals.