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JELLY BEANS Continues to Rise on Plans to Establish SPC for Recycled Heavy Oil Refinery Business Through Subsidiary
JELLY BEANS GROUP Co., Ltd. <3070> continued to rise. Before the start of trading today, the company announced that its subsidiary JB Sustainable and Niji Shigen Holdings (Chuo-ku, Osaka City) will establish a special purpose company (SPC) by the end of this month to operate a recycled heavy oil refinery business. This announcement appears to be driving the stock.
The SPC will be named "JB Energy," with JB Sustainable holding a 70% stake and Niji Shigen HD holding 30%. As the operating entity for the "Tatsuno Recycled Heavy Oil Refinery" in Tatsuno City, Hyogo Prefecture, the company will handle integrated operations from procuring raw materials including waste oil and waste plastics, to manufacturing recycled heavy oil, and conducting sales to users and power generation businesses.
Source: MINKABU PRESS
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