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MUFG Donates to Fuel Cell Bus Operators

By February 17, 2022 4   min read  (645 words)

February 17, 2022 |

Fuel Cells Works, MUFG Donates to Fuel Cell Bus Operators

Tokyo — MUFG today announced that MUFG’s five core group companies1 will make donations to the Bureau of Transportation Tokyo Metropolitan Government (Tokyo Bureau of Transportation), Osaka City Bus Corporation (Osaka City Bus), and Nankai Bus Co., Ltd. (Nankai Bus) to support the introduction of hydrogen fuel cell-powered buses2.

MUFG will donate a total of approximately 200 million yen over the next six years (including donations to Osaka Prefecture through the corporate version of Hometown Tax Donations3) to the Tokyo Bureau of Transportation, Osaka City Bus and Nankai Bus; the latter two are expected to receive subsidies from the Osaka Prefectural Government to promote the introduction of fuel cell buses in fiscal 20214. The bus operators plan to introduce a total of three fuel cell buses by March 2022.

Operators Service start Operating area and route (planned)
Bureau of Transportation

Tokyo Metropolitan Government

mid-February Tokyo Station Marunouchi South Exit – Tokyo Big Sight
Osaka City Bus late March Southern Osaka City
 

Nankai Bus and Kansai Airports

 

mid-March

Kansai International Airport (Terminal building 1 –

Observation Hall, etc.)

Various efforts are being made to realize a hydrogen-based society in Japan, with fuel cell buses expected to be introduced as commercial vehicles that create stable hydrogen demand while contributing to decarbonization of the transportation sector.

This donation to the Tokyo Bureau of Transportation is the first attempt to introduce fuel cell buses utilizing both subsidies from the Tokyo Metropolitan Government and donations from private companies.

This is also the first rollout of fuel cell buses in Osaka Prefecture. With the continued promotion of future energy technologies expected during the lead up to the Osaka- Kansai Expo 2025, MUFG believes this initiative will be the first step toward facilitating the widespread use of hydrogen in the future.

MUFG defines its purpose as “committed to empowering a brighter future.” Our business activities are driven by the determination to make every effort to empower all stakeholders to take the next step forward. To realize this purpose, MUFG has identified 10 priority issues to enhance sustainability management and positions hydrogen and next-generation energy as a priority theme for climate change and environmental conservation.

With this initiative as a starting point, MUFG will continue to contribute to the construction of hydrogen supply chains as well as the realization of a sustainable future society.

1  MUFG Bank, Ltd., Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi UFJ Securities Holdings Co., Ltd., Mitsubishi UFJ NICOS Co., Ltd., ACOM CO., LTD.

2 A bus that runs via a motor utilizing electricity generated by the chemical reaction of hydrogen and oxygen. It

does not produce environmentally harmful emissions such as CO2.

3 In July 2021, MUFG donated 53.25 million yen to the “FY2021 Subsidy for Projects to Promote the Introduction of Fuel Cell Buses” implemented by Osaka Prefecture. Please refer to the following link for details.

https://www.mufg.jp/dam/pressrelease/2021/pdf/news-20210714-001_en.pdf

4 Please refer to the following link for Osaka Prefecture’s “FY2021 Subsidy for Projects to Promote the Introduction of Fuel Cell Buses” (Japanese only).

https://www.pref.osaka.lg.jp/energy/fcbus/index.html

About MUFG

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,500 locations in more than 50 countries. The Group has about 170,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.

For more information, visit https://www.mufg.jp/english.

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