Yasuyo Yamazaki - Foreign Press Center

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Yasuyo Yamazaki
President & CEO,
Kuni Umi Assetment Management Co.Ltd.
President,
Sun-Based Economy Association
President,
Research Institute for Growth Strategy Inc.
FPCJ Press Briefing
Current State and Future of
Renewable Energy Use in Japan
June 1, 2015
Yasuyo Yamazaki, CEO
February 2012: President & CEO, Kuni Umi Asset Management
December 2009: President, Research Institute for Growth Strategy Inc.
October 2009: Appointed as an advisor of Ministry of Internal Affairs and Communications
（Resigned in Sep.2010）
February 2009: President, Sun-Based Economy Association
May 2008: President, Japan Core Partner Inc.
May 2002: Representative, Yamazaki Associates
Established the office and engaged in research, surveys and proposing activities on finance and international
economic issues.
Yasuyo Yamazaki
 President & CEO
Kuni Umi Assetment Management
Co. Ltd.
 President of
Sun-Based Economy Association
 President of
Research Institute for Growth
Strategy Inc.
◆March 1982 B.A. degree in economics,
University of Tokyo
◆1988 M.B.A., University of California,
Los Angeles
January 1994 – March 2002: Goldman Sachs
General Partner, Goldman Sachs & Co.(1998 to 2002)
President & CEO, Goldman Sachs Asset Management Japan (1998 to 2002)
Founded Goldman’s asset management business in Japan and raised $30billion within two years after
establishment to make GS as the number one foreign-based asset management company in Japan and won
Nikkei Advertisement Grand Prix (1999)
April 1982 – December 1993: Daiwa Securities Co., Ltd.
Started from international investment banking. Made huge profits for the firm by introducing and executing
innovative businesses and products such as warrants, dual currency bonds, swaps, securitization, real estate,
modern portfolio management, and global investment.
Launched the first Japanese mutual fund invested in mortgage-backed securities (which won the Nikkei Finance
Daily’s Best Commodity Prize for 1991) and the Japan Equity Fund listed on the New York Stock Exchange.
Being asked by the top management, created and operated five new departments to conduct new businesses
and worked in Tokyo, Europe (London and Swiss), New York (as Head of Capital Markets), and Asia (Hong Kong
and Singapore)
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Three Strengths of the Kuni Umi Group
Kuni Umi Asset Management
Propose and
Execute
Projects
Benefitting
Society
Sun-based
Economy Association
• Planning, operations and management executed by
dispatching well experienced professionals
◆Fund Raising Strength
Renewable Energy
Realization & Operational
Strengths
Success of
Renewable
Energy
Business
◆Project Development Strength
• Collaboration with the world’s leading financial institutions
◆Procurement Strength
• Collaboration with leading domestic and international
manufacturers reducing costs and improving quality
◆Rural Development Strength
• Consulting ability with a successful track record
Propose and
Execute
Projects
Benefitting
Rural Areas
Research Institute
for Growth Strategy
◆Ability to Receive Projects
• Receive direct requests from local governments and rural
areas to develop projects
◆Network of Experts
• A strong network existing from our activities prior to the
2011 Great Tsunami and Earthquake
◆Strong Support from the Government
• Government supporting our new concepts of securitization
of renewable energy and unprecedented mega-solar
projects
2
Company Charter and Purpose
Why Kuni Umi?
Charter
くに
うみ
国
生み
くに
うみ
陸
水
くに
うみ
故郷 生み
Purpose
Nation Building
Develop Underutilized Lands
Economic Growth
Expand the development of rural areas through the
expansion of renewable energy
Kuni Umi Asset Management’s mission is to support economic
development in both Japan and the developing world through the
creation of renewable energy projects
3
Business Model
Kuni Umi AM＝Pioneer
Renewable Energy
Long-term stable revenue streams based on
secured power purchase agreements
Proposing the idea of securitization
of renewable energy to national
and local governments leads to
Realization
Securitization of
renewable energy
＝
Real Estate
Utilizing local
government, private,
idle and unused lands to
build economic growth in
rural areas
Kuni Umi
Business Model
Finance
Utilizing network of
national pension funds,
public financial
institutions, ECAs, etc.
The key to expanding
renewable energy is
securitization
Securitization will also apply
to the development of the
future of rural areas
4
Corporate History
Sun-Based Economy
Association
2009
Thought leader and solution provider for regional
revitalization
•
•
Research Institute
for Growth Strategy
•
•
Kuni Umi Asset
Management
2012
2014
Promote “Sun Based Economy” (energy, water, food and local
development)
Strategic Partnership with MAFF (Ministry of Agriculture, Forestry
and Fisheries) to promote utilization of renewable energy
Strategic Partnership with MIC (Ministry of Internal Affairs and
Communications)
RIGS proposed “Environmental future island plan” to Awaji
Island (Hyogo Pref.), which then became a Special Ward
Renewable energy development and investment
•
•
Won public competition for 230MW solar project
Developed 40MW solar project and sold to GS
•
•
•
•
Acquired 20MW wind project (in development)
Acquired 30MW solar project (in development)
Investment in 5MW biomass project (COD Q1 2015)
230MW solar project reached financial close in Q3 2014
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Our NPO “Sun-Based Economy Association ”
Energy, Resources, Environment, Food, Life, Region
SBEA
Summary:
Since the Industrial Revolution, humankind has witnessed the advent of the coal-based economy followed by the oil-based economy, which in turn is now
heading towards its end.
A new industrial revolution is about to unfold in the 21st century: a shift from the oil-based economy to a “Sun-Based Economy.” The Sun-Based Economy
is a novel economic model in which humankind will be able, through technology and intellect, to make its living on the blessings provided by the sun. By
utilizing solar energy, striving to conserve natural resources, and securing water and food through the power of the sun, we should be able to save
humanity.
“Save Humanity” is the motto that unites us. The mission of the Sun-Based Economy Association is to turn this motto into reality.
Sun (Energy)
Water
(Environment)
Activities:
Green (Food)
Life, Food
Environment,
Resources
Energy
Power generation
No CO2 release ～
～
～
Solar
Wind
Distribution
Global
network
Storage
Lithium-ion battery EV, Road
Infrastructure
power
distribution Hydrogen-fuel cells
Area development
Utilization
Desalination,
Greening ,
Agriculture,
Biotechnology
Logistics,
Cold storage
Carbon
sequestration
Removal of
contaminants
Adiabatic paint,
Recycle
Infrastructure, Agriculture, Distribution, Recycle, Local
government, Service, Food, Housing, and Education
1) Policy proposal to realize a Sun-Based Economy

Propose new regulations, systems, policies

Support education and industrial advancements

Collaborate with and lobby governments
2) Enlightenment and public relation efforts toward media,
companies and the public

Introduce our concept and activities

Transmit current topics

Issue proceedings
3) Expansion of member interactions

Cultivate member communications

Visit excellent cases

Catalyze new activities
4) Support for research and company activities aligned with our
missions

Subsidize universities and research ventures

Introduce their activities to the public
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Sun-Based Economy Association
SBEA
Sun-Based Economy KAWAMINAMI FORUM in Miyazaki Prefecture
May 18, 2015
Co-organized by Town of Kawaminami
Supported by MAFF (Ministry of Agriculture, Forestry and Fisheries)
Miyazaki Prefecture & Research Organization for the Future of Women and Agriculture
Discussions by specialists of forestry and agriculture specialists & lecture of tree of culture for
development municipality in Miyazaki Prefecture where Woody Biomass Project of Kuni Umi AM started
operation in April 2015.
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Sun-Based Economy Association
SBEA
Since 2009, we have been actively promoting “Sun Based Economy” (energy, water, food
and local development) by organizing various symposiums, seminars and exhibitions
Forum “Revitalization of Japanese Economy by
Environmental Economics”
Right: Naoto Kan, former Prime Minister
Charts and pictures are illustration purpose only.
Kanagawa Prefecture Forum
“Solar Revolution will now start!”
From the left:
Mr. Kuroiwa, Governor of Kanagawa prefecture
Mr. Komiyama, Chairman of Mitsubishi Research Institute
Mr. Son*, CEO of Softbank
Mr. Minamikawa, former Vice-Minister of Environment
Yasuyo Yamazaki
Mr. Kanou, former Minister of Agriculture, Forestry and Fisheries
*Mr. Son was named the world's 45th most powerful person by Forbes
Magazine's List of The World's Most Powerful People in 2013
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KUAM
230MW Solar Project in Okayama
KUAM led the consortium on the largest mega solar project in Japan
Project Outline

Setouchi City, Okayama Prefecture

Project Size: 230 MW DC

Construction: September 2014 -

COD: November 2018

Total project cost: ¥110 billion

Senior loan: ¥ 90 billion, MLA: MUFG, SMBC, Mizuho

Ownership: KUAM, GE, TEC

EPC: Toyo Engineering and Shimizu Corporation

Land: Lease: agreement with Setouchi City

Utility Company: Chugoku Electric

Information: http://www.city.setouchi.lg.jp/kinkai
http://www.setouchimegasolar.com
Completion image
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Web site of Setouchi Future Creations LLC
http://www.setouchimegasolar.com
English
page
coming
soon
◆Operation will start in 2019
◆News and information of construction
and movies
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KUAM
30MW Solar Project in Ibaraki
30MW , largest in North-Kanto area”
Planning and development new town mega solar
Proposed “Natural Solar Gargen” project with the power generation business
for regional, residents and government and public participation
Renewable energy power generation facilities introduction promotion support
reconstruction measures business expense subsidy of Ministry of Economy,
Trade and Industry has been issued .
Image of Natural Solar Garden
※水戸ニュータウン・メガソーラーパーク合同会社は2013年1月21日にジャパン・リニューアブル・エナジー株式会社に譲渡致しました。
「ナチュラル・ソーラー・ガーデン」は合同会社の持分譲渡以前に当社が提案した内容です。
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KUAM
5MW Woody Biomass Project in Miyazaki
JV with experienced local partner.
A unique plant equipped with infrastructure to collect forest scraps
Project Outline

Kawaminami-cho, Miyazaki Prefecture

Project size: 5.75MW

Fuel: Wood 100%

Boiler: Sumitomo Heavy Industries (Foster Wheeler)

Operation: April 2015 -

KUAM ownership 62%



Local partner 26%, other 12%
Total construction cost: ¥3.5 billion

Senior loan: ¥1.4 bil, JA Mitsui Lease

Subsidy: ¥1.4 bil

Mezzanine: ¥0.3 bil, Green Fund
Miyazaki is one of best suited location for biomass

589,878 ha of wood land, 59% planted forest

#1 Cedar production 1.6 mil ㎥
March 2015
12
KUAM
20MW Woody Biomass Project in Akita
JV with experienced local partner.
Largest woody biomass plant in Tohoku region
Project Outline

Akita-shi, Akita Prefecture

Project size: 20MW

Fuel: Wood 70%, PKS 30%

Boiler: Sumitomo Heavy Industries (Foster Wheeler)

Construction: 2014/11 – 2016/6

KUAM ownership 31%



Local partner 38%, Renova 31%
Total construction cost: ¥12.5 billion

Senior loan: ¥10.6 bil, MLA Hokuto + Shinsei

Mezzanine: ¥0.7 bil, Green Fund
Akita is one of best suited location for biomass

839,536 ha of wood land, 49% planted

#2 in cedar production, 1 million ㎥
13
RIGS
Research Institute for Growth Strategy
RIGS proposed “Environmental future island plan” to Awaji Island (Hyogo Pref.), providing
solution for urban problems and at the same time realizing growth with high IRR
Awaji island project (Hyogo): Authorized as special ward in December 2011
Characteristics of Awaji
1.
2.
3.
4.
Close to large city and airport
Low land price
Existing traffic infrastructure
Island, isolated from other areas
Achieving Sustainability
1.
2.
3.
Energy: micro-grid, EV, biomass, etc.
Food and agriculture: agri-incubation center,
nano-grid for greenhouse, etc.
Lifestyle: on-demand bus, elderly and child
service, museums, etc.
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Company Overview
Location
3rd Floor Nippon Oil Bldg., 3-4-2 Marunouchi, Chiyoda-ku,
Tokyo 100-0005 Japan
Founded
February 16, 2012
Capital
Stated Capital ： JPY 250 million (approx.)
Capital Reserve ： JPY 250 million (approx.)
（As of May 2015）
Management
Team
Representative Director
Director, CFO
Outside Director
Corporate Auditor
Employees
29 (including management members
and contract employees)
（As of May 2015 ）
Kuni Umi
Asset Management Co. Ltd.
Yasuyo Yamazaki
Shingo Numa
Kunio Hamada
Takaaki Ohta
Group
Sun-Based Economy
Japan Core Partner Inc.
Research Institute for Growth Strategy Inc.
URL
http://www.kuniumi-am.co.jp/
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business plans and the document does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product.
We believe the information provided here is reliable but should not be assumed to be accurate or complete and assume no responsibility
whatsoever for any damages resulting from the use of this document.
Statements, estimates and charts used in this documents are based on current market conditions are subject to change without notice.
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