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IR News

Press Release
September 28, 2023

Hoshizaki Enters Japanese Market for Pharmaceutical Refrigerators

Aiming to introduce Hoshizaki products in life sciences and biotechnology R&D fields

HOSHIZAKI CORPORATION (Head office: Toyoake City, Aichi; President & COO: Yasuhiro Kobayashi; hereafter “Hoshizaki”), will enter the Japanese market for pharmaceutical refrigerators. Launching two large models in early November through its sales companies, Hoshizaki aims for their adoption primarily by organizations that conduct research and development. This includes pharmaceutical companies, food companies, health food companies, cosmetics companies, research institutes, and laboratories in universities and hospitals.

■In-house development of products for non-restaurant markets as part of domestic growth strategy

In its Five-Year Management Vision covering the period from 2022 to 2026, Hoshizaki stated its intention of developing other markets beyond the restaurant market. Leveraging the achievements and experience of its integrated system spanning development and production to sales and after-sales service, Hoshizaki continues to develop new products that will meet today’s diverse market needs, even in non-restaurant markets.

■Market entry with products that apply the temperature management technologies of the restaurant market

In the development of non-restaurant markets, Hoshizaki focused attention on research and development that underpins the life sciences and biotechnology fields. R&D in these fields involves the use of chemicals and reagents that require strict temperature management and maintenance. Applying the temperature management technology that it has cultivated in the restaurant market, Hoshizaki will launch two large pharmaceutical refrigerator models for the storage of chemicals, reagents, vaccines, and the like under accurate temperature control.

■Growth expected in the life sciences and biotechnology markets

Against today’s background of various global-scale social issues, such as food crises, the environment, resources, and healthcare, expectations are growing toward the life sciences and biotechnology fields. Japan’s pharmaceuticals market has maintained a scale of over 10 trillion yen1 since 2015, and with the super-aging of the Japanese population, development of pharmaceuticals for a Society of Health and Longevity is likely to continue. The target in the Japanese government’s Bio Strategy is a market scale totaling 92 trillion yen by 2030, and the promotion of government measures and growth are anticipated in the relevant markets.

■Features of Hoshizaki’s pharmaceutical refrigerators

Use of environmentally friendly HFC-free natural refrigerants2 that are not the artificial creation of humans
Instead of man-made substances, the refrigerant used in the new models is isobutane, a substance that exists naturally in the environment. HFC-free isobutane does not deplete the ozone layer and has very little impact on global warming. Because these refrigerators do not use HFCs, there is no need for simple HFC inspections or reporting of leaks, which is expected to reduce the burden on organizations that install them.

Accurate temperature control at 2°C – 8°C, suitable for storage of chemicals
The refrigerators offer stable chilling at temperatures of 2°C – 8°C (when set at 5°C)3 required for the storage of chemicals. In developing a new product for entering this new market, Hoshizaki conducted repeated thermometry tests and modifications at 36 points inside the refrigerator to achieve accurate temperature control. The refrigerator’s temperature can be changed as necessary within a setting range of 2°C to 14°C.

Pharmaceutical refrigerator
HPR-150A

Produced and shipped under strict quality criteria at Hoshizaki’s Japanese plant
Hoshizaki’s own plant in Japan, which has been producing commercial refrigerators since 1972, will produce the new models under its strict quality criteria and management system, with every single unit subjected to a final inspection before shipment.

Direct maintenance by Hoshizaki Group entities experienced in Hoshizaki products
Even in the unlikely event of a fault, the nearest of Hoshizaki’s approximately 440 sales offices around Japan will send out a service staff member who is highly experienced in Hoshizaki products directly to the site of installation to inspect and repair the unit.

■Lineup of Products to Be Launched

Model Rated volume External dimensions Standard price
HPR-120A 721 liters 1200×800×1885 mm 880,000JPY (excl. tax)
HPR-150A 944 liters 1500×800×1885 mm 980,000JPY (excl. tax)

1: IQVIA Japan Pharmaceutical Market Statistics: Sales Data

2: Natural refrigerants refer to substances that exist naturally in the environment and are used as refrigerants for refrigeration and air conditioning. These eco-friendly refrigerants have an ozone depletion potential (ODP) of zero and a very low global warming potential (GWP). The GWP is a value indicating the potential of a greenhouse gas to warm the earth when the value for carbon dioxide (CO2) is set at 1. According to the UN Environment Programme (UNEP) OzonAction Kigali Fact Sheet 3 (released in 2017), the GWP of isobutane is 3, while the World Meteorological Organization’s (WMO) Scientific Assessment of Ozone Depletion: 2022 (released in October 2022) puts it at <<1 (significantly less than 1).

3: Under ambient temperature conditions of 5°C – 35°C.