Idemitsu Kosan Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President and Representative Director: Noriaki Sakai; hereinafter "the Company"), in collaboration with its subsidiary Chemical Recycling Japan Co., Ltd. (Head Office: Chuo-ku, Tokyo; President and Representative Director: Hitohiko Okamura; hereinafter "CRJ"), has decided to commence basic design for the construction of a second pyrolysis chemical recycling facility1 utilizing waste plastic as raw material. Potential sites are adjacent areas to the Company's Chiba and Aichi plants (Locations: Ichihara City, Chiba Prefecture; and Chita City, Aichi Prefecture). The Company aims to expand its pyrolysis chemical recycling business to realize a circular economy and resource security. 1 Pyrolysis Chemical Recycling: A recycling method that produces "chemical recycled products" etc. using CR oil, produced by pyrolyzing waste plastic, as raw material. Image of this project In this basic design, the Company will leverage knowledge gained from the first pyrolysis chemical recycling facility (Location: Ichihara City, Chiba Prefecture) to conduct detailed studies on facility specifications, processes, etc., in preparation for an investment decision for the second facility. The timing of the investment decision will be made based on factors such as the trend of regulations concerning mandatory use of recycled plastics and the outlook for demand for recycled plastics. In this project, waste plastic discharged from households and companies will be used as raw material, and CR oil2, equivalent to light crude oil, will be produced through proprietary pyrolysis chemical recycling technology. The produced CR oil will be recycled into "chemical recycled products" etc. by applying the mass balance method3 at the Company group's refineries and plants. In recent years, the establishment of the Packaging and Packaging Waste Regulation (PPWR) in Europe, which sets standards for the proportion of recycled plastic content in plastic pa