Sekisui Chemical Pours ¥100 Billion into Flexible Perovskite Solar, Targeting 2028 Profitability

積水化学工業 Japan

Overview

Sekisui Chemical Co., Ltd. has unveiled a substantial ¥100 billion strategic investment into its flexible perovskite solar cell business, a cornerstone of its new ‘Accelerate 2028’ medium-term management plan. The Japanese chemical giant aims to achieve over ¥25 billion in sales from this segment and turn a profit by fiscal year 2028, signaling a decisive move to accelerate mass production and secure leadership in the next-generation solar market.

In Depth

Background

Sekisui Chemical Co., Ltd., a prominent Japanese chemical manufacturer, is strategically realigning its focus towards environmental and life sciences sectors. Leveraging its extensive technological portfolio, the company aims to contribute significantly to a sustainable society. Its recently unveiled medium-term management plan, ‘Accelerate 2028,’ concretely manifests this strategy, with a particular emphasis on a substantial investment in its flexible perovskite solar cell business.

Key Findings

Sekisui Chemical has earmarked a substantial strategic investment of ¥100 billion (approximately $640 million USD*) for its flexible perovskite solar cell business, positioning it as a pivotal future growth engine. This considerable capital injection is designed to achieve several critical objectives:

• Business Profitability and Sales Targets: The company aims to generate over ¥25 billion (approximately $160 million USD*) in sales from its flexible perovskite solar cell division and achieve profitability by fiscal year 2028. This ambitious target signifies a critical transition for perovskite technology, moving it decisively from an intensive R&D phase towards a robust, revenue-generating commercial enterprise.
• Establishment of Mass Production Technology: A substantial share of the investment will be channeled into establishing advanced mass production capabilities for flexible perovskite solar cells. This encompasses crucial advancements in enhancing conversion efficiency, guaranteeing long-term operational stability, dramatically scaling up the production area, and developing and implementing highly cost-effective manufacturing processes. Sekisui Chemical’s deep expertise in film technology and polymer materials is anticipated to provide a significant competitive edge in accelerating these developments.
• Expansion into Diverse Markets: The inherent lightweight and flexible nature of film-type perovskite solar cells unlocks installation opportunities in myriad locations where conventional rigid solar panels are impractical or aesthetically unfeasible. These include building facades, windows, corrugated metal roofs of industrial facilities, vehicles, and a wide array of Internet of Things (IoT) devices. This versatility positions Sekisui Chemical to penetrate emerging markets such as Building-Integrated Photovoltaics (BIPV), novel mobility applications, and various off-grid power solutions, catering to a broader spectrum of energy needs.

Sekisui Chemical’s strategic investment is projected to significantly accelerate the widespread adoption of renewable energy, directly combating global warming. By delivering highly efficient and environmentally responsible next-generation solar cells, the company aims to contribute substantially to achieving global CO2 emission reduction targets and fostering a sustainable society. With this investment, Sekisui Chemical aspires to establish a dominant leadership position in the burgeoning perovskite solar cell market and play a pivotal role in the global energy transition beyond 2030. The immediate focus will now shift to expediting technological development, solidifying robust production systems, and ensuring rapid market introduction.

*Note: USD conversions are approximate based on recent exchange rates and subject to fluctuation.