January 27, 2022
Seiko Holdings Corporation
Wako Co., Ltd.
Fuyo General Lease Co., Ltd.
Wako Co., Ltd. (President: Shuntaro Ishii; head office: Chuo-ku, Tokyo; hereafter “Wako”), a group company of Seiko Holdings Corporation (Chairman & Group CEO, CCO: Shinji Hattori; head office: Chuo-ku, Tokyo, Japan; hereafter “Seiko Holdings”), has signed an agreement with Fuyo General Lease Co., Ltd. (President & Chief Executive Officer: Yasunori Tsujita; head office: Chiyoda-ku, Tokyo, Japan; hereafter “Fuyo Lease”) to obtain FIT Non-Fossil Certificates※1 for the environmental value of renewable energy that Fuyo Lease supplies to Wako.
From March 2022, the Wako main building, an iconic structure at the Ginza 4-chome intersection in Tokyo, will convert its electric power supply to renewable electricity. The power will be generated by the Namie Sakai No. 1 Solar Power Plant operated by the Fuyo Lease Group. Namie Town in Fukushima Prefecture is using clean energy to support its reconstruction following the Great East Japan earthquake. Significantly, Wako will not simply convert to renewable electricity, but will purchase FIT Non-Fossil Certificates, which authenticate and confirm the environmental value of electricity generated from renewable energy sources.
- FIT (Feed-in Tariff) Non-Fossil Certificate provides an assessment of the environmental value of electricity generated from renewable energy sources (those that do not emit CO2) based on the local power utilities’ standard electricity rate menu. In addition, FIT-derived Non-Fossil Certificates will be able to comply with RE100 (an international initiative aimed at using 100% renewable energy for all business activities) by adding tracking information (power source type, location, etc.) for power plants through the non-fossil certificate tracking program conducted by the Ministry of Economy, Trade and Industry.
About the Wako Main Building
The Wako main building, completed in 1932 as the main office of K. Hattori Watch and Clock Store (now Seiko Holdings Corporation), has been a symbol of Ginza for decades. In 2009, the Ministry of Economy, Trade and Industry recognized it as an Industrial Modernization National Heritage Site with the aim of preserving and using buildings and machinery that contributed greatly to the modernization of Japanese industry. In June 2022, the building’s 90th anniversary, its name will be changed to SEIKO HOUSE GINZA and the upper floors, which are separate from the Wako sales floors, will be used to promote the Seiko brand.
The Fuyo Lease Group has designated Energy & Environment as a strategic field in its medium-term management plan Frontier Expansion 2021, and is working to spread renewable energy in and outside Japan in order to further efforts towards decarbonization. Moreover, the Fuyo Lease Group has moved up the date for achieving RE100 to 2030, and aims to achieve carbon neutrality by 2030 as well.
The Seiko Holdings Group and the Fuyo Lease Group will continue to promote a variety of initiatives, including the use of renewable energy, and contribute to the realization of a sustainable society.
Press Contact:
Seiko Holdings Corporation Public Relations Department
prdeptj@seiko.co.jp
WAKO Co., Ltd. Planning Department
Tel: +81-3-3562-2111 and +81-3-5250-3127
Fuyo General Lease Co., Ltd. Corporate Communication Division (Contact: Kimura; Yamazaki)
Fuyo-ir@fgl.co.jp / Tel: +81-3-5275-8891
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