Today, Japan's rare metal and rare earth self-sufficiency rate stands at near zero percent. As a result, the Government of Japan has established a national target to raise this rate to 50% by the year 2030. The Mitsubishi Electric Group plans on strengthening and expanding its initiatives in order to help Japan achieve this target.
Green Cycle Systems Corporation (GCS) has already begun receiving end-of-lifecycle products that contain rare earth magnets not only from Hyper Cycle Systems Corporation, but also from other recycling plants outside the Mitsubishi Electric Group since 2012.
Recovered rare earth magnets are also reused in Mitsubishi Electric products by way of magnet manufacturers. As with large-scale, high-purity plastic recycling, we plan on taking the lead in establishing a resource recycling system. Furthermore, we will work to develop new technologies for creating recovery equipment that can remove rare earth resources from the hard disk drives of end-of-lifecycle laptop computers and other products.
As an important member of Japan's manufacturing industry, the Mitsubishi Electric Group stands fully committed to expanding its rare metal and rare earth recycling initiatives going forward.