FTSE Russell confirms that Mitsui Mining & Smelting Co., Ltd. has been independently assessed according to the index criteria, and has satisfied the requirements to become a constituent of the FTSE Blossom Japan Index. The FTSE Blossom Japan Index is used by a wide variety of market participants to create and assess responsible investment funds and other products.

THE INCLUSION OF Mitsui Mining & Smelting Co., Ltd. IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF Mitsui Mining & Smelting Co., Ltd. BY MSCI OR ANY OF ITS AFFILIATES. THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.

FTSE Russell confirms that Mitsui Mining & Smelting Co., Ltd. has been independently assessed according to the index criteria, and has satisfied the requirements to become a constituent of the FTSE Blossom Japan Sector Relative Index. The FTSE Blossom Japan Sector Relative Index is used by a wide variety of market participants to create and assess responsible investment funds and other products.

MITSUI MINING & SMELTING CO.,LTD.

CSR Office

1-11-1 Osaki, Shinagawa-ku, Tokyo 141-8584, Japan

e-mailcsr@mitsui-kinzoku.com

URL https://www.mitsui-kinzoku.com/en/

MITSUI KINZOKU Integrated Report 2023

Integrated Report 2023

For the year ended March 31, 2023

exploration

"ambidexterity"

exploitation

About Mitsui Kinzoku Integrated Report 2023

This report describes how Mitsui Kinzoku Group will create economical and social value through the management in our value creation process, focusing on the 22 Medium-term Management Plan which began in FY2022.

We have edited this report referring to the International Integrated Reporting Framework advocated by the International Integrated Reporting Council (IIRC), the "Guidance for Integrated Corporate Disclosure and Company-Investor Dialogues for Collaborative Value Creation" developed by the Ministry of Economy, Trade and Industry, the GRI Sustainability Reporting Standards (GRI Standards), and SASB standards.

You can find detailed financial information in our Securities Report and detailed governance information in our Corporate Governance Report.

［Coverage］

This report focuses on figures for FY2022 (April 2022 - March 2023). It also contains details of initiatives prior to that period, and initiatives that are underway for FY2023.

［Scope］

This report covers Mitsui Kinzoku (non-consolidated), as well as consolidated domestic/overseas subsidiaries. If we include a non- consolidated group company, there are details on its scope of application in the explanatory note for each item.

[ Caution concerning forward-looking statements ]

In addition to facts about Mitsui Kinzoku Group past and present, this report contains decisions, plans and other forward-looking statements based on information available at the time of writing. Please bear in mind that social situations in the future, and the actual results of our business activities, may vary from the forward-looking statements contained herein.

[Securities Report] only available in Japanese

https://www.mitsui-kinzoku.com/toushi/lib/yuuka/

[Corporate Governance Report] only available in Japanese

https://www.mitsui-kinzoku.com/toushi/management/governance/

We use the SDG icons in this report in accordance with the UN SDG guidelines. https://www.un.org/sustainabledevelopment/

References and citations

  • Ambidexterity

Iriyama Akie (2019) "Global Standard Management Theory", DIAMOND, INC.

  • Programmatic M&A

Chris Bradley, Martin Hirt, Sven Smit, Nozaki Daisuke (Translation) (2019) "Strategy Beyond the Hockey Stick: People, Probabilities, and Big Moves to Beat the Odds", TOYO KEIZAI INC.

Integrated Report 2023

MITSUI KINZOKU

04

06

08

President and Representative Director NOU Takeshi

Review of the first year of the 22 Mid-term Plan, formulated to realize the Vision for 2030,

a result of backcasting from the point of 2050, and by combining forecasting from our past achievements.

14

As a nonferrous metal manufacturer, we have cultivated our technologies and know-how and developed our value chain in our history.

"Material Intelligence" - this is the source of our value creation.

16

18

20

22

24

［Business Creation Sector］

26

［Engineered Materials Sector］

28

［Metals Sector］

30

［Mobility Sector］

32

40

54

60

62

64

68

71

80

84

87

94 11

96

136

144

145

Philosophy of Mitsui Kinzoku Group

Throughout our history, which is approaching 150 years since our company was first founded, Mitsui Kinzoku has experienced many changes and faced many difficulties. The reason why we were able to overcome these obstacles and continue to this day is because we continuously supplied products that are helpful to the world by utilizing our "intelligence" that we have fostered over years as a manufacturer. The central pillar of the business is our corporate philosophy.

We have to enhance our own sustainability in order to fulfill our social responsibility. We advance our business to respond to the expectations of our stakeholders, while keeping our corporate philosophy at the center of our business activities to further strengthen our business base. We will contribute to the realization of a sustainable society through new value creation by enhancing our recognition of environmental and social issues, and driving our unique innovations.

Management Philosophy

"With creativity and productivity,

We, Mitsui Kinzoku Group, will explore products of value to society, and seek an eternal growth of our group."

Mitsui Kinzoku Group's mission included in its Management Philosophy

The Management Philosophy was developed and documented in 1984, more than 39 years ago. It declares that the goal of the Group's business is contribution to society and sustainable growth. Grateful to our predecessors for having had the perspective of sustainability, we will pass on the values they sought to uphold.

In 2022, as values we should share, the Purpose was established to show why Mitsui Kinzoku Group exists and the value we provide.

【Purpose】

We promote the well-being of the world

through a spirit of exploration and diverse technologies.

Why we exist

The Purpose provides our unchanging basis for making judgments, allowing us to respond nimbly and promptly to changes in the world or major shifts in the business environment whenever they occur. While envisioning the world in 2050, our Purpose, our raison d'etre as Mitsui Kinzoku Group is to realize a contribution to both humanity and the environment of the world.

【Corporate Slogan】

Taking full advantage of Material Intelligence

Mitsui Kinzoku in a nutshell

We are a manufacturing company mainly dealing with non-ferrous metal materials and always thinking about what our strengths are, how we can utilize them effectively, and what value we can create. With thinking them thoroughly, we pursue our originality and value.

Code of Conduct

[Revision 3rd edition as of July 2016]

This Code of Conduct applies to all the directors, officers and employees of Mitsui Mining & Smelting Co., Ltd. (Mitsui Kinzoku) and its Group companies.

  1. Our Social Mission
  2. Self-Awarenessand Social Responsibility as a Member of our Corporate Group
  3. Compliance
  4. Fair Business Activities
  5. Rejection of Antisocial Forces
  6. Proactive Information Disclosure and Comprehensive Information Management
  7. Contribution to the Natural Environment
  8. Provision of Comfortable Work Environment
  9. Demonstration of Leadership by Senior Management

Specific commitment to implementing the Management Philosophy

The Code of Conduct defines basic requirements that all executives and employees must comply with in their daily business activities to make them aware of their social responsibilities so that we can grow together with our stakeholders.

https://www.mitsui-kinzoku.com/en/company/c_idea/

04 MITSUI KINZOKU Integrated Report 2023

MITSUI KINZOKU Integrated Report 2023 05

Our History

Our origin is to develop the resources that are blessings from the earth and perform smelting of nonferrous metal. We have continued to provide materials and products that are essential to many industries by giving added value to nonferrous materials through processing and assembly. We will strive to create new value utilizing our core technologies cultivated by our nonferrous metal smelting business, such as in separation and purification, powder control, electrochemistry, and solution chemistry.

1874 Acquired Jabaradaira pit at the Kamioka mine

Mining and Resource development

1968

Started full operation at

the Huanzala mine, Peru

Started to develop copper foil technology at

Takehara refinery plant

Areas that our current core business domains

＊ Lists only major events and initiatives.

1989

2012

Measuring instruments

Developed non-destructive inspection equipment to measure

2006

Established Mitsui Kinzoku Instrumentations

the sugar content of fruits and vegetables by applying

Technology Corporation

technology used for underground resource exploration satellites

Started full-scale operation

at the Pallca mine in Peru

Established Taiwan Copper Foil Co., Ltd. in Nantou, Taiwan

Established Mitsui Copper Foil (Malaysia) SDN.BHD in Selangor, Malaysia

Increased production capacity

of MicroThinTM to 3.9 million m2

Copper foils

1943

Copper

1959

1962

1968

1976

Started production of

Established Oak-Mitsui Inc.

copper foil at Ageo

in New York, USA

Started development of transparent

conductive thin films at the Central

Research Laboratory

1980 1986

1991

Developed MicroThinTM

2018

per month

1999 copper foil with carrier film

Established Ageo plant 2

Established Pan Pacific Copper Co., Ltd.

Established Hibi Smelting Co., Ltd.

2000

2020

jointly with Nippon Mining & Metals Co., Ltd.

1985

Started mass production of PVD material

2000

2005

2013

Sputtering targets

at Miike rare metal plant

Acquired Hibi smelting plant and Takehara refinery plant

Started production of Cerium oxide

1977

abrasive for glass substrate

Rare metals

1963

Started production of rare earths

1966 at Nippon Yttrium Co., Ltd.

Sold Catalysts to

Started

production of electrolytic

Started to develop exhaust 1970

1976 Japanese automobile

manganese dioxide(EMD) at

gas detoxifying catalysts

manufactures

Takehara refinery plant

technology at the Central

1949

1958

Research Laboratory

1972 Started production of battery-use

zinc powder at Kamioka mining plant

1913

1943

Completed Zinc

Started production of Cadmium

oxide for nickel-cadmium battery

Zinc and Lead

electrolytic plant

at Kamioka

at Hikoshima smelting plant

Established Die-casting division

1989

Developed

Established Mitsui Electronic

Established the bonding

Established the mass production process of

high density ITO

materials Co., Ltd. in Tai chung,

factory in Pheongtaek,

IGZO, a next generation oxide

Taiwan

South Korea

semiconductor material

Started operation at

Established catalyst

Expanded the catalyst production

manufacturing plant in

capacity for automobiles at the

1981 Kamioka catalyst plant

Catalysts

2006

2018

Zhuhai, China

five overseas sites

1990

Started production of hydrogen storage

Battery materials

2016

Developed solid electrolyte for next-

alloy at Takehara refinery plant

generation lithium-ion batteries

1993

Started full operation of recycle-

1995 smelting of lead from waste

batteries at Kamioka

1953

1962

1966

Launched Omuta zinc smelting plant

Started technological partnership with

Wilmot Breeden of the U.K. for automotive

Established Showa Die-Cast Co., Ltd.

door latch production in 1965

1951

1962

Established rolled copper division

1987

1989

Started operation at new Zinc

Die casting

electrolytic plant in Kamioka

Established

Established

GECOM Corp.

automotive parts

1995

Automotive parts

in Indiana, USA

division

Established MITSUI SIAM

COMPONENTS CO., LTD. in Thailand

Rolled copper and brass

2014

Established Mitsui Kinzoku Die-Casting

Technology Co., Ltd.

Integrated automotive parts division and Ohi

2010 Seisakusho Co., Ltd., and established Mitsui Kinzoku ACT Corporation

Integrated rolled copper business with that of Sumitomo

2010 Metal Mining and established Mitsui Sumitomo Metal Mining Brass & Copper Co., Ltd.

Sales breakdown

in FY1960

¥29.5 billion

＊Non-consolidated sales

Acquired Ohji plant from Special Alloy Co., Ltd. and established Ohji Metals Co., Ltd.

Others

31.4％

Metals business

Zinc/Lead/Refined copper/Sulfuric acid

68.6％

Assembly processing

Automotive components/Die casting/ Catalysts etc.

Basic materials

14.3％ Zinc/Lead/ Refined copper/ Sulfuric acid/Alloys

32.9％ 52.8％

Intermediate materials

Copper foil/Battery materials/ PVD materials/TAB/Rolled copper/ Rare metals etc.

Others

Mining and basic materials

Engineering/

Zinc/Lead/Refined copper/

Other services 15.9％

Sulfuric acid/Alloys/Ores etc.

Assembly processing

30.3％

Sales breakdown

Automotive components/

Sales breakdown

in FY1990

Die casting/Catalysts etc.

in FY2000

19.1％

¥269.6 billion

¥423.7 billion

＊Excludes sales of gold bullion from the

34.8％

＊Business segments are shown in

financial statement values of that time.

the segments at that time.

＊Business segments are shown in the

Intermediate materials

segments at that time.

Copper foil/Battery materials/PVD materials/

TAB/Rolled copper/Rare metals etc.

06 MITSUI KINZOKU Integrated Report 2023

MITSUI KINZOKU Integrated Report 2023 07

My commitment

Review of the first year of the 22 Mid-term Plan, formulated to realize the Vision for 2030,

a result of backcasting from the point of 2050, and by combining forecasting from our past achievements.

That first fiscal year has ended.

President and Representative Director

NOU Takeshi

08 MITSUI KINZOKU Integrated Report 2023

MITSUI KINZOKU Integrated Report 2023 09

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Mitsui Mining & Smelting Co. Ltd. published this content on 13 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2023 04:23:24 UTC.