This audio is generated by AI, so pronunciation and expressions may not be fully accurate. The narration is only in English.
For an island nation, ocean shipping has never been optional. Long before Japan's postwar economic expansion, maritime trade enabled the import of energy and raw materials that powered industrial growth. Vast vessels—some stretching 400 meters—continue to carry iron ore, coal, automobiles, and commodities across oceans, forming the backbone of global supply chains.
Yet the same system that enabled decades of economic growth now sits at the center of climate discussions. Large ships burn fuel continuously, emitting greenhouse gases while transporting materials that themselves contribute to carbon emissions. As pressure mounts for decarbonization, the question is no longer whether ocean shipping will change—but how.
In Tokyo, MOL PLUS Co., Ltd., the corporate venture capital arm of Mitsui O.S.K. Lines, was established to help answer that question. Rather than focusing solely on optimizing existing operations, the firm invests in startups and works alongside them to build new maritime businesses designed for a carbon-constrained era.
"Ocean shipping is one of Japan's foundational industries," says Sakamoto Takuya, Chief Executive Officer of MOL PLUS. "But being foundational does not mean remaining unchanged."
A defining feature of MOL PLUS is that it operates without a fixed fund duration. For Sakamoto, that structural choice reflects the nature of the technologies it supports. "Some of the startups we invest in—fusion energy, space technology, deep industrial innovation—will not reach commercialization within 10 years," he explains. "If you are constrained by a typical venture capital cycle, you may be tempted to try to shortcut those long-term development challenges."
Instead of prioritizing rapid exits, MOL PLUS positions itself as a long-term partner. Backed by MOL's global fleet and operational expertise, the firm can provide not only capital but also real-world testing environments. With 935 vessels operating worldwide—the world's second-largest fleet—the group offers a platform that most financial investors cannot replicate.
One investment, VFlowTech, develops long-duration battery systems designed for large-scale storage. Ports operate continuously, yet renewable energy production—particularly solar power—does not. By storing daytime energy for use during peak evening demand, battery systems can help move port operations toward carbon neutrality. "Decarbonization is not only about making ships more efficient," Sakamoto says. "It requires expanding our perspective—from vessels to ports, logistics hubs, and the entire surrounding ecosystem."
While sustainability has become a standard corporate term, Sakamoto is careful about how he uses it. "The word 'sustainability' can be too abstract," he says. "For us, decarbonization is concrete. We are an industry that emits greenhouse gases. That fact defines our responsibility."
Ocean preservation is another focus. Portfolio company Regional Fish, for example, uses genome-editing technology to develop aquaculture species that grow larger with less feed. Reducing feed inputs lessens environmental strain in both offshore and land-based fish farming. "We depend on the ocean," Sakamoto notes. "If we use it as a business field, we must also consider how to protect it."
Other investments span hydrogen production, onboard carbon capture, offshore renewable energy, satellite-based maritime communications, and even sea-based recovery platforms for reusable rockets. In the latter case, maritime infrastructure could support the retrieval of rocket boosters that return to Earth after launch—a scenario previously outside the scope of traditional shipping. "Ten years ago, we would not have imagined ships recovering rockets," Sakamoto reflects. "Now we see possibilities that go far beyond transporting cargo."
Although shipping is inherently global, Tokyo plays a strategic role in MOL PLUS's ecosystem. The firm operates from the Tokyo Venture Capital Hub, a dedicated space where venture capital firms and corporate venture teams work in close proximity. "For startups entering Japan, this building offers concentrated access to investors," Sakamoto explains. "That density matters."
Approximately half of MOL PLUS's portfolio companies are based overseas, reflecting the borderless nature of maritime business. Participation in global conferences such as SusHi Tech Tokyo 2025, hosted by the Tokyo Metropolitan Government (TMG) and others, reinforces that international outlook. For Sakamoto, the value lies not only in presenting his company's activities but in engaging with diverse founders and investors. "Shipping does not have a domestic market," he says. "Every transaction crosses borders. Our mindset must always be international."
MOL PLUS has also been recognized in the sustainability category of the Tokyo Financial Award 2024, an initiative led by the TMG to promote financial innovation aligned with global challenges.
"It is easy to measure revenue," Sakamoto says. "It is harder to evaluate long-term decarbonization efforts. Third-party recognition gives credibility to initiatives that may not yet show immediate financial returns."
For industries undergoing structural transformation, that credibility can help build momentum. New markets require not only capital, but belief. "Before results become visible, you must convince people that the direction is meaningful," Sakamoto says. "You need partners who are willing to climb the mountain together."
Looking ahead, Sakamoto envisions a point when today's experimental projects mature into standalone businesses—joint ventures or integrated operations generating sustained revenue within the MOL Group. "At the moment, many initiatives are still in progress," he says. "When they become continuous businesses, we can say we have created a new form of ocean shipping."
In that future, ocean shipping would no longer be defined solely by the movement of cargo. It would encompass energy systems, logistics infrastructure, marine technology, and new industries emerging from the ocean itself.
"Ocean shipping has always been global," Sakamoto says. "Now it must also become more innovative—and more responsible—at a global scale."
SusHi Tech Tokyo, short for Sustainable High City Tech Tokyo, is a Tokyo-based concept that leverages high technology to help create a sustainable city, delivering messages at home and abroad showcasing Tokyo's comprehensive attractiveness, and the challenges of resolving urban issues.SusHi Tech Tokyo | Sustainable High City Tech Tokyo
