Japan’s Megmilk Snow’s sustainability-focused business plan gets government nod

Alfaro Recoba

Japan’s Industrial Competitiveness Enhancement Act was enacted in 2003 with the aim of revitalizing the Japanese economy by reducing over-regulation, improving under-investment, and accelerating consolidations.

In the first quarter of 2021, the government announced further amendments to this Act in the wake of the COVID-19 pandemic resulting in an overall GDP decline of 3.9%, hoping to stem this decline and break out of economic stagnation. These amendments primarily focused on sustainability and digitalisation, calling for local businesses to include more of these in their business strategies.

Megmilk Snow designed a new business adaptation plan based on the principles of the updated act last year and submitted this to the Ministry of Agriculture, Forestry and Fisheries (MAFF) for approval, which was recently granted in August 2022.

“MAFF has approved the Business Adaptation Plan submitted by Megmilk Snow Brand Co. Limited after thorough examination based on the provisions in the Industrial Competitiveness Enhancement Act,”​ MAFF said via a formal statement.

“The examination has found the plan to meet all the certification requirements stipulated under this law, and as such with this approval Megmilk Snow is now eligible to receive all the support and apply for the relevant tax relief measures in accordance with the act.

“This adaptation plan is expected to be implemented from October 2022 until March 2025, with a focus on improving the energy efficiency of its operations so as to reduce energy consumption and CO2​ emissions.”

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