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IBOKIN shares hit daily limit up on metal scrap supply venture with Mitsui & Co
IBOKIN CO., LTD. <5699> surged to its daily limit on 21st, reaching a new year-to-date high. The company announced it has signed a memorandum of understanding (MOU) with MITSUI & CO., LTD. <8031> to collaborate on the establishment of a stable supply system for metal scrap. The market responded enthusiastically to the partnership, which aims to secure a reliable source of recycled metals amid tightening global resource competition.
The initiative is driven by the increasing global focus on the "advanced utilization of recycled resources" as a cornerstone of the circular economy and a decarbonized society. By integrating Ibokin’s processing expertise with Mitsui’s global logistics and trading network, the companies aim to drive initiatives with significant social impact and enhance resource security. This strategic move is being viewed as a key catalyst for Ibokin’s long-term growth in the green transformation sector.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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