Business Expanding ROCKWOOL Group, a Danish stone wool insulation manufacturer, transfers HQ functions of its Japanese subsidiary to a factory in Tomioka Town, Fukushima Prefecture, and boosts investment

The ROCKWOOL insulation products are manufactured with proprietary technologies using basalt as raw material, and said to have excellent thermal insulation, fire resistance, compressive strength, water repellency, and corrosion resistance. At a time when many countries, including Japan, have set a goal of achieving carbon neutrality by 2050, and it is the social responsibility of companies and nations to do so, the ROCKWOOL insulation products offer one of the easiest ways to achieve energy savings without significant cost, which is all the more important in the current climate of rising energy prices. In particular, insulation innovation and retrofitting on residential, non-residential, and industrial buildings can achieve low-cost and efficient energy savings and emissions reductions.

In August 2021, ROCKWOOL Asia (as part of ROCKWOOL Group) reached an agreement to acquire the assets of BANSYO HOLDINGS, a Japanese company established in 2013 that specializes in the supply of fire protection and thermal insulation in both the industrial and building sectors.

The transferred assets include BANSYO’s stone wool factory in Tomioka Town, Fukushima Prefecture. The factory was completed in November 2017 with the aim of expanding its business into manufacturing sector and supporting the local economy affected by the great earthquake/tsunami. ROCKWOOL Japan LLC, incorporated in Tokyo in 2021, transferred its headquarter functions to the factory in Tomioka Town in September 2021, maintaining employment in BANSYO and employing 60% of its workforce locally.

Backed by a favorable natural environment, ROCKWOOL Group has started investing 3 billion yen in the factory in Tomioka Town, with a plan underway to replace steel slag with basalt as raw material, upgrade the production capacity, and achieve smarter and more sustainable production over a 1.5 year period. The company decided to make this investment with the understanding from the outset that the lack of infrastructure, human resources, and high procurement prices would make it difficult to run a factory there. Despite all these challenges, they are committed to developing the local community in Fukushima through job creation and innovation, and to participate in the common goal of reconstruction of Fukushima and realization of a decarbonized society, together with people of Fukushima.

Upon the business transfer of BANSYO HOLDINGS and the succession of and investment in the factory in Tomioka Town, JETRO Fukushima cooperated with the Invest Japan Business Support Center (IBSC) to provide consultations (visa acquisition) and information on subsidies/incentives, and introduced service providers (administrative scriveners).