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Tokyo Cement’s FY24 Q3 performance reflects slowed industry outlook

Quarterly Financial Review Tokyo Cement Group (Tokyo Cement) reported a turnover of Rs. 11,348 million (a 6% decline over the same period of the previous year) and a profit after tax of Rs. 193 million (a 65% decline over the same period of the previous year) for the 3rd quarter ended 31st December 2023. Turnover …

Quarterly Financial Review

Tokyo Cement Group (Tokyo Cement) reported a turnover of Rs. 11,348 million (a 6% decline over the same period of the previous year) and a profit after tax of Rs. 193 million (a 65% decline over the same period of the previous year) for the 3rd quarter ended 31st December 2023.

Turnover for the 9 months ended 31st December 2023 was Rs. 36,679 million (a 13% decline over the same period of the previous year) and profit after tax for the same period was Rs. 1,700 million (a 60% decline over the same period of the previous year).

Deepening the impact of the wider national economic slowdown on the construction industry, cement consumption continued to decline during the quarter. The Maximum Retail Price of cement remained unchanged during the quarter as market competition intensified to maximize the share of a rapidly shrinking market.

The Economic Environment

The spending power of consumers contracted sharply during the quarter under review because of rising fuel, energy, and food costs. This was further exacerbated by the increase in VAT and Income Taxes on consumers. Both residential and business sector customers were impacted by the electricity tariff increase announced in mid-October.

The contraction of the construction sector was highlighted by the reduction of work on ongoing projects whilst only a very few new projects commenced during the latter part of the year. Construction firms were skeptical of any progress due to the concerns surrounding possible upward revision of material prices as a result of announced tax revisions.

The market shrinkage was further aggravated by the persistent adverse weather across most parts of the island. The impact of the inclement weather cannot be understated as it disrupted the construction industry and the distribution of construction materials to sites as monsoons lasted from August till December.

During the first review of the Extended Fund Facility arrangement, the IMF commended the government for its efforts to restore macroeconomic stability, reduce inflation, and willingness to establish growth-oriented structural reforms. This was followed by the disbursement of the second tranche of USD 337 million from the IMF in early December, in addition to the government receiving USD 200 million from the ADB and USD 250 million from the World Bank to strengthen budget support and enhance the country’s external buffers.

However, the VAT percentage increment from 15% to 18% and the expansion of the VAT liable goods and services list, which came into effect from the 1st of January will contribute to further increase fuel and transport costs for manufacturers. Reflecting this rise in cost of operations, the price of a 50kg bag of cement was increased by LKR 150/-, to bring the Maximum Retail Price (MRP) from LKR 2,300/- to LKR 2,450/-, with effect from the 1st of January 2024.

Outlook

In the short to medium term, the stabilisation of the currency should allow for commercial and private sector development projects to resume. However, domestic consumption is expected to recover only in the long term, due to reduced purchasing power, a weakened currency, and increases in utilities and taxes. The Group is currently observing some resumption of both private sector and institutional construction projects. In preparation to cater to the future growth in demand in the local construction industry, Tokyo Cement Group will continue the expansion plans currently underway to increase its local manufacturing capacity.

However, the escalation of tensions in the Middle East and continued conflict in Eastern Europe could pose a significant impact on fuel prices, supply chains and freight costs across the globe, which would have an impact on the cost of imports. Tokyo Cement has been vigilantly observing trends and actively forecasting costs to adapt to shifting conditions of the global economic environment. Whilst acknowledging the road to recovery is long and tenuous, the Tokyo Cement Group is confident of the fundamentals of its business operations and is cautiously optimistic of a steady revitalisation of the construction industry.

Specialized Coaching to Empower Northern Cricket

Cricket in Sri Lanka is a unique phenomenon that binds our nation together in positivity and pride. The game continues to tear down barriers to bring almost every citizen to the streets, cheering, dancing and pulsating to a uniquely Sri Lankan rhythm united under one flag, one team. Right now, the entire nation yearns for that excitement of seeing our flag fly high once again. It goes without saying that in order to reclaim our victorious spot on the cricket world map, we must keep unearthing new talent and give them opportunities to sharpen their skills. In 2014, Tokyo Cement Group and the Foundation of Goodness set off on a mission to discover young cricketing talent from across the country. Together they organize monthly Cricket Coaching Camps where youngsters are given the chance to polish up their raw talent under the guidance of the best coaches and cricket experts. The objective is to give budding school cricketers from remote backgrounds the opportunity to realize their dreams of a successful sporting career. The initiative takes place at the Foundation of Goodness’ world-class practice facilities in Seenigama and Hikkaduwa, where monthly Cricket Coaching Camps are conducted. The sessions are led by the celebrated coaching staff of renowned cricket coach Mr. Hemantha Devapriya, for schoolgirls and boys aged between 13 to 19 years. The success of the Southern cricket camps prompted Tokyo Cement to extend the program to the Northern areas in 2017, in search of future cricketing sensations. The program enrolls many young cricketers from areas such as Jaffna, Killinochchi, Oddusudan, Mankulam, Mullaitivu, Vavuniya and Mannar. Mr. Anura De Silva, Sports Director of the Foundation of Goodness, heads the project which aims to take 50 Northern youth under its wings to train them to become sparkling cricket stars who bring glory to our motherland. Upon witnessing the richness of talent in the North, Mr. De Silva comments, “Right throughout history, Sri Lankan cricket got enriched thanks to players from different parts of the country who infused their unique styles to the game. There is tremendous talent yet to be discovered in our rural areas. Our aim is to uncover these gems that can enhance our cricket legacy in the future”. The showcase of talent in the North has so far surpassed all expectations, igniting our hopes for another Sri Lankan cricketing spring in the near future. Tokyo Cement Group is an avid supporter of cricket on the frontline to uplift the game. The Company firmly believes in the game’s ability to build bridges across geographic and social boundaries characterizing true cricketing spirit. The coaching camps conducted by the Foundation of Goodness under the patronage of Tokyo Cement have so far trained over 1,000 girl and boy school cricketers, producing many National-level players who represent Sri Lanka in the World Cricket Arena. By providing youth from every part of the country an opportunity to unite in cricket, the company is laying the foundation of brotherhood, understanding and respect, that contributes to Nation-building which remains Tokyo Cement’s vision as the leader in the local construction industry.

Tokyo Cement Invites Nature-lovers to Forest-Bathe in The Horton Plains

Sri Lanka’s Horton Plains National Park with sweeping grasslands and montane evergreen cloud forests is an outstanding natural wonder. The remarkable biodiversity of this UNESCO World Heritage Site is reaffirmed by the astounding number of flora and fauna there that are not seen anywhere else on the planet.

Mr. S. R. Gnanam, Managing Director of the Tokyo Cement Group, whilst bestowing a new Ranger Office at the Dayagama Walking Trail of the HPNP to the Department of Wildlife Conservation (DWC) commented, “This marks the beginning of a ‘Culture of Forest Bathing’ in our country, made famous by the Japanese who revive their lives bathing in the healing tranquility among trees and nature. I have personally experienced this walking trail to be the most picturesque route to the Horton Plains, providing an incomparable forest-bathing experience as you walk through the dense tropical montane forest.”

Whilst thanking the DWC for assuring exclusivity of the trail for trekkers and cyclists, he added that Tokyo Cement Group partnered this initiative because the Group understood the importance of scientific conservation of unique nature reserves such as The Horton Plains National Park (HPNP). It is the only nature reserve where visitors are allowed on foot, across the rolling plains and tropical hills. Whilst many visitors take the motorable routes from Pattipola or Ohiya, the 5 km long Dayagama East Walking Trail is taken essentially by discerning nature lovers. This trekking path, a section of the world-famous Pekoe Trail, is an undisputed favourite among ardent birding enthusiasts, guaranteeing encounters with an array of migratory and resident bird species, many of them endemic to Horton Plains. Tokyo Cement Group bestows the Horton Plains – Dayagama Walking Trail to true nature-lovers

Being less popular, the Dayagama East entrance was largely unmonitored, thus making it a vulnerable entry and exit route. The DWC sought ways to streamline visitor activity on this route, whilst contending with limited resources for many years. The DWC invited Tokyo Cement Group, known for its extensive environmental conservation initiatives and a deep attachment with the Horton Plains, to establish a DWC Ranger Office at the entrance of the Dayagama East Walking Trail.

Chairman of the Tokyo Cement Group Dr. Harsha Cabral PC and Managing Director, Mr. S. R. Gnanam handed over the newly built office complex to the Minister of Wildlife and Forest Resources Conservation, Hon. (Mrs.) Pavithra Wanniarachchi and the Director General of DWC, Mr. Chandana Sooriyabandara.

Dr. Harsha Cabral PC, Chairman of the Tokyo Cement Group, commending the efforts of Hon. Minister Wanniarachchi said, “This Dayagama visitor entrance, dedicated to those who come here purely to enjoy the scenic peak wilderness, extends Tokyo Cement Group’s commitment to environmental sustainability. Prohibiting the entry of all forms of motor vehicles and unauthorized trespassers will ensure the protection of this unique flora and fauna not just today, but for our future generations.”

(standing from left) Dr. Harsha Cabral PC, Chairman of Tokyo Cement Group, Mr. Kanchana Jayaratne, Hon. (Mrs.) Pavithra Wanniarachchi, Minister of Wildlife and Forest Resources Conservation, and Mr. S. R. Gnanam Managing Director of Tokyo Cement Group inspect the newly opened Dayagama Walking Trail to the Horton Plains National Park.

In addition to the new DWC office, Tokyo Cement Group established educational signage boards at key points of the walking trail and main road, revealing the unique flora and fauna spotted at the HPNP. These informative boards designed by the Parrotfish Collective, create awareness on the park’s rich biodiversity and educate visitors about the importance of its conservation. Tokyo Cement Group intends this far-reaching nature conservation project will enrich the immersive experience of visitors to the Horton Plains National Park. –

Photo: Mr. S. R. Gnanam Managing Director of Tokyo Cement Group, Hon. Minister of Wildlife and Forest Resources Conservation Pavithra Wanniarachchi, and Dr. Harsha Cabral PC, Chairman of Tokyo Cement Group inaugurate the Dayagama DWC Ranger Office at the Horton Plains National Park.

Tokyo Cement Group Q2 Results Indicate Steady Growth in Demand

Quarterly Financial Review For the 2nd quarter ending 30th September 2023, Tokyo Cement Group (Tokyo Cement) reported a turnover of Rs. 13,311 million, and a profit after tax of Rs. 642 million. This is a 5% decline in turnover and an 80% decline in profits after tax against the same period of the previous year. …

Quarterly Financial Review

For the 2nd quarter ending 30th September 2023, Tokyo Cement Group (Tokyo Cement) reported a turnover of Rs. 13,311 million, and a profit after tax of Rs. 642 million. This is a 5% decline in turnover and an 80% decline in profits after tax against the same period of the previous year. A significant portion of this profit decline can be attributed to the uniquely high baseline of Q2 FY22/23, during which a 50kg Cement Bag had an MRP of Rs. 3,200/-. This price was reflective of the economic environment which had rising interest rates, inflating global raw material prices, unpredictable increases in transportation and energy costs, volatility of foreign exchange, and mitigating against exchange losses. However, in the quarter under review the price of a 50kg bag of cement was reduced by 28% to Rs. 2,300/-, reflecting a relative stabilisation of the local economic environment.

The comparatively smaller reduction in turnover vis-a-vis the considerable drop in price indicates a significant and encouraging growth in sales volumes year-on-year. The reduced profitability can be attributed to the reduction in prices that have been adjusted downwards periodically by the volition of cement manufacturers, for the benefit of the consumers. The profitability was further impacted by the addition of a CESS on the importation of clinker, increases in Administrative Expenses due to the imposition of the Social Security Contribution Levy (SSCL), and the raising of corporate tax from 18% to 30%.

The Economic Environment

The Group has observed a considerable increase in demand with the restart of construction activities. The Government’s decision to settle outstanding payments through treasury bonds to contractors eased payments to suppliers, allowing the resumption of projects previously halted due to cashflow issues. Furthermore, the Government announced the relaxation of the majority of import restrictions, that will allow accessibility to industrial, and construction related goods that were previously unavailable.

The year-on-year headline inflation, as measured by the Colombo Consumer Price Index (CCPI) decreased from 6.3% in July to 1.3% in September 2023. Consequently, the Central Bank reduced the Standing Deposit Facility Rate and the Standing Lending Facility Rate by 100 basis points (bps) to 10.00 per cent and 11.00 per cent respectively, in October 2023. Interest rates (Average Weighted Prime Lending Rate (Weekly)) steadily declined from 19.47% end June, to as low as 14.67% by end-September.

The Rupee stabilized significantly in comparison to Q2 FY22/23 during which period the currency depreciated to around Rs. 369-370/- to the USD, whereas in Q2 FY23/24 the Rupee appreciated to a lowest of Rs. 312-325/- to the USD. This downward yet stable movement of foreign exchange rates conveyed a much-needed stability for businesses to import goods and set prices. Additionally, a decrease in global raw material costs and freight rates allowed a reduction in prices across a wide range of commodities, including cement, from the beginning of Q2 FY23/24.

The biggest impact on financial performance across all sectors came with several tax increases. In addition to the imposition of the SSCL, and the increase in corporate taxes, a CESS was imposed on the importation of raw materials. For consumers, disposable income was further restricted with the increment of direct income taxes and significant increases in utility prices such as gas, fuel, water and electricity.

Outlook

In the short to medium term, the stabilisation of the currency, lowering inflation, and downward-trending interest rates should allow for commercial and private sector development projects to resume in the coming year. However, domestic consumption is expected to recover only in the medium to long term, due to reduced purchasing power, a weakened currency, and increases in utilities and taxes. The Government sustaining IMF-prescribed economic and fiscal policies will potentially allow it to qualify for access to foreign funding of infrastructure in the form of grants and loans. The Group is currently observing some resumption of both private sector and institutional construction projects.

However, the escalation of tensions in the Middle East and continued conflict in Eastern Europe will pose a significant impact on fuel prices, supply chains and freight costs across the globe, which would have an impact on the cost of imports. Tokyo Cement has been vigilantly observing trends and actively forecasting costs to adapt to shifting conditions of the global economic environment. Whilst acknowledging the road to recovery is long and tenuous, the Tokyo Cement Group is confident of the fundamentals of its business operations and is cautiously optimistic of a steady revitalisation of the construction industry.

Tokyo Cement Group Scores Platinum and Gold Awards at Prestigious CIOB Green Awards 2023

Tokyo Cement Group receiving the Platinum Award for Sustainable Leadership in the Construction Industry for its Renewable Energy Generation Programme Tokyo Cement Group won two prestigious awards that reinstate its industry leadership position at the Annual Green Awards 2023 event, organized by the Ceylon Institute of Builders (CIOB). Tokyo Cement Group won the apex Platinum …

Tokyo Cement Group receiving the Platinum Award for Sustainable Leadership in the Construction Industry for its Renewable Energy Generation Programme

Tokyo Cement Group won two prestigious awards that reinstate its industry leadership position at the Annual Green Awards 2023 event, organized by the Ceylon Institute of Builders (CIOB). Tokyo Cement Group won the apex Platinum Award for Sustainable Leadership in the Construction Industry in recognition of its Renewable Energy Generation Programme which makes its entire local cement manufacturing process 100% energy independent. The Gold Award in the category was won by Tokyo Supermix (Pvt) Limited; Tokyo Cement Group’s Ready-Mix Concrete (RMC) business unit, in recognition of the comprehensive Wastewater Recycling System implemented across its island-wide RMC plants network. These two awards are the most recent seals of approval received by the Tokyo Cement Group honouring its industry-defining and commendable commitment to sustainability.

Hon. Dinesh Gunawardena, Prime Minister of Sri Lanka was the Chief Guest at the event which culminated during the World Construction Symposium, and was also graced by Hon. Susil Premajayantha, Minister of Education, and Hon. Suren Raghawan, State Minister for Higher Education as Guests of Honor. The distinguished guests at the event were lead by Dr. Rohan Karunaratne – President, and Eng. Saliya Kaluarachchi – Hon. Secretary of the Ceylon Institute of Builders among other prominent industry stalwarts. The CIOB, the premier professional organization of building and construction professionals in Sri Lanka together with University of Moratuwa (UOM) organized this year’s flagship awards ceremony for the 11th consecutive year.

Tokyo Supermix receiving the Gold Award at the CIOB Annual Green Awards 2023

The Annual Green Awards is a platform to encourage environmentally conscious business practices by evaluating remarkable sustainability efforts in the Sri Lankan construction industry. This year, the eminent panel of judges were headed by Prof. A.K.W. Jayawardane as the Chairman and comprised of Prof. Chitra Weddikkara, Dr. Tissa Meepe, Dr. Ashan Asmone and Eng. Saliya Kaluarachchi as committee members.

Tokyo Cement Group, as Sri Lanka’s largest manufacturer of cement, concrete, and cement-based innovative products, has won multiple accolades in recognition of its standard-setting sustainability practices. Adding to the many awards received over its forty-year history, earlier this year Tokyo Cement also won the Gold Medal in the Chemical Industries Category at the Presidential Environmental Awards 2021-22 organized by the Central Environmental Authority (CEA). This stands proof of Tokyo Cement’s unwavering commitment to enrich and conserve the environment by making Sustainability a key business priority.

Tokyo Cement Group, as the industry leader, has made several strategic investments to minimize its environmental footprint. First among them is its highly admired renewable biomass energy programme. The Group pioneered biomass energy generation in Sri Lanka to promote greater national energy security with a total installed capacity of 24MW. The Group also exports up to 8MW of biomass and Dendro power and 600kW of solar power to the grid, thereby increasing the national renewable energy contribution. This green energy programme engages nearly 2,500 farming families, via direct and indirect employment, who have so far planted more than 7.5 million Gliricidia trees contributing to the Group’s collective sustainability efforts. By operating a community trade supply chain with the local farmers to source biomass fuel, the Group retains a major portion of the energy bill within the country instead of spending it on imported fossil fuels, whilst enabling critical cashflow to the rural economy.

The contributing reduction of carbon impact by Tokyo Cement is further attested through the Company’s distinguished product brand TOKYO SUPER Cement, which has won both the Green Mark® (Singapore) Certification from the CIOB, and the GREENSL® Labelling System Certification from the Green Building Council of Sri Lanka (GBCSL), making it the Greenest Cement in the market.

Tokyo Supermix received the Gold Award at the CIOB Green Awards 2023 for its comprehensive wastewater recycling system which allows to reuse 90% of the water used daily for aggregate wetting, concrete mixing, and to wash inbuilt tanks after unloading mixer trucks at all RMC plants across the island. Out of the large volume of water recycled through the system annually, approximately 12 million liters is reused in concrete mixing while the remainder is used in the washing process in a close-looped cycle, significantly reducing its environmental footprint. The entire waste management programme deployed by Tokyo Supermix also takes care of waste concrete and cement sludge, and the concrete samples used for quality testing are recycled to produce Reef Balls that are used in Tokyo Cement’s Coral Reef Restoration programme.

Furthermore, Tokyo Cement Group leads several highly impactful, science-based conservation efforts that include Mangrove Reforestation, Coral Reef Restoration, and a Native Forest Tree Propagation programme among others as part of its sustainability drive. Whilst the Group’s promise on sustainability comes to life through these far-reaching initiatives, Tokyo Cement has earned the reputation as the most trusted supplier of high-quality cement, concrete and cement-based innovative products in Sri Lanka. By successfully integrating social welfare and environmental conservation into its mission to enrich the country, its people and the environment, Tokyo Cement Group has reaffirmed its position as the leading partner in Nation-building.

Tokyo Cement Strengthens Partnership with Society of Structural Engineers, Sri Lanka

Tokyo Cement Group reinforced the long-standing partnership with the Society of Structural Engineers Sri Lanka (SSESL) for 2023, with the Sole Sponsorship of the Question Time Programme for the month of May. At the forum, Eng. Prof. Kushan Wijesundara from the Department of Civil Engineering, University of Peradeniya delivered a lecture on ‘Response of Shear Critical Reinforced Concrete Elements’. Over sixty participants representing engineering undergraduates, practicing structural engineers, and construction sector professionals were present at this event, held at the Wimalasurendra Auditorium of the Institute of Engineers Sri Lanka (IESL).

Eng. Prof. Kushan Wijesundara, Department of Civil Engineering, University of Peradeniya presenting at the QT Programme

President, Eng. (Mrs.) Tharangika Jayasundara, Vice President, Eng. Ananda Senarath, Immediate Past President, Eng. Nandana Abeysuriya, Past President, Eng. Srilal Sahabandu Secretary, Eng. D.T. Rajasekaran, Treasurer, Eng. L. Gunawickrama and Committee Member, Eng. Dr. Nihal Somaratna, of SSESL were among the prominent industry experts and eminent academics present at the event. Eng. Prof. Kushan Wijesundara in his presentation discussed the importance and methodologies of predicting the behaviour of reinforced concrete structural elements by analyzing the Axial–Flexure–Shear (N-M-V) interaction. He illustrated several approaches using Eurocode 2, numerical tools, and analytical models on how to ascertain the phenomenon, citing real-world case studies, garnering much enthusiasm from the participants.

The Question Time is a monthly knowledge-sharing session organized by the SSESL, a professional body representing practicing engineers and academics in the field of structural engineering in Sri Lanka. It is a forum not only for professional and student members but also for the general public to discuss new technological trends and developments in structural engineering, sharing knowledge among like-minded industry experts. Distinguished engineering doyens in the field and renowned academics from leading university engineering faculties share their experiences and knowledge at each session, where the latest scientific findings and case study experience in modern engineering solutions are presented. These Question Time programmes are one of the Continuous Professional Development programmes conducted by SSESL on the last Tuesday of every month for the last three decades, to encourage and add value to its membership engagement. It is an opportunity for corporate industry partners to permeate new ideas that are trending in structural engineering with the professional fraternity.

Participants at the Society of Structural Engineers’ May 2023 QT Seminar

Tokyo Cement Group, being a long-standing corporate partner for the SSESL for over a decade, renewed the affiliation for 2023 by undertaking to be the sole sponsor of four Question Time Programmes and the Annual Sessions in the Society’s annual event calendar. As part of this far-reaching professional partnership, Tokyo Cement aims to create fresh dialogue on the latest developments in the construction industry by bringing in field experts to discuss a range of timely topics. As Sri Lanka’s largest manufacturer of cement, concrete, and cement-based innovative products, Tokyo Cement Group is delighted to deepen the partnership with the SSESL. By becoming a prime sponsor of the pre-eminent professional body, the Company aims to facilitate world-class knowledge sharing to inspire our professionals who play a vital role in uplifting the local construction industry. –/

Tokyo Cement Group wins Gold at Presidential Environmental Awards 2022

Mr. Christopher Fernando – Consultant Director, Tokyo Cement Group accepting the Gold Award from His Excellency the President Hon. Ranil Wickramasinghe at the Presidential Environmental Awards 2022 Tokyo Cement Group won the Gold Medal for exceptional environmental conscious business practices in the Chemical Industries Category, at the Presidential Environmental Awards 2021-22 organized by the Central …

Mr. Christopher Fernando – Consultant Director, Tokyo Cement Group accepting the Gold Award from His Excellency the President Hon. Ranil Wickramasinghe at the Presidential Environmental Awards 2022

Tokyo Cement Group won the Gold Medal for exceptional environmental conscious business practices in the Chemical Industries Category, at the Presidential Environmental Awards 2021-22 organized by the Central Environmental Authority (CEA). The prestigious Gold Award was presented by His Excellency the President Hon. Ranil Wickramasinghe to Mr. Christopher Fernando, Consultant Director of Tokyo Cement Group at the awards ceremony held at the BMICH on the 28th of April 2023.

Hon. Minister of Environment Eng. Naseer Ahamed, Dr. Anil Jasinghe – Secretary to the Ministry of Environment, Mr. Supun S. Pathirage – Chairman and Mr. Hemantha Jayasinghe – Director General of the CEA, and prominent members representing both state and corporate sectors were among the distinguished guests at the event.

Under the guidance of the Ministry of Environment, the annual Presidential Environmental Awards is organized by the CEA to recognize and reward public and private sector organizations, industries, and individuals, who makes significant contributions towards environmental conservation. Key objectives of the awards program include acknowledging the efforts of those who have consciously deployed environmental conscious operations, and inspiring others to become active participants of conservation to achieve sustainable development.

This honor is the latest nod of approval received by the Cement Giant for the company’s unwavering commitment to enrich and conserve the environment. The award recognizes the multiple sustainable industry practices adopted by Tokyo Cement Group, as Sri Lanka’s largest manufacturer of cement, concrete and cement-based innovative products.

This accolade is among the many testaments received by Tokyo Cement for their steadfast efforts to make environmental sustainability a key business priority. The strategic investments made by Tokyo Cement Group include exemplary business practices that focus on minimizing the company’s environmental footprint. First and foremost, Tokyo Cement Groups’ end-to-end local manufacturing process is 100% energy independent and is operated using carbon-neutral, renewable biomass energy. Pioneering the renewable energy movement in the country’s manufacturing sector, Tokyo Cement Group has set the example for other corporate entities.

Standing further proof of this commitment is the Company’s distinguished product brand, TOKYO SUPER Cement, the Greenest Cement in the market which holds both Green Mark® (Singapore) Certification from the Ceylon Institute of Builders, and the GREENSL® Labelling System Certification from the Green Building Council of Sri Lanka (GBCSL).

Further, Tokyo Cement’s Center for Technical Excellence, the company’s operational hub in Trincomalee, has also been certified with the GREENSL® Building Platinum Status by the GBCSL, placing yet another stamp of approval on its environmental conscious business ethos. The modern technical hub received this noteworthy recognition owing to the multiple green features incorporated into the facility, to promote a sustainable and minimal resource footprint.

In addition, as one of the country’s most prominent blue-chip organizations, Tokyo Cement Group leads several highly successful, scientific data-driven conservation efforts as part of its sustainability drive. Among the most impactful conservation programs spearheaded by the Company, the Mangrove Reforestation, Coral Reef Conservation, and a Native Forest Tree Propagation program take centerstage.

Whilst the Company’s promise on sustainability breathes life through these far-reaching initiatives, Tokyo Cement Group has earned the reputation as the most trusted supplier of high-quality cement, concrete and cement-based innovative products in Sri Lanka. By successfully integrating social welfare and environmental conservation into its mission to enrich the country, its people and the environment, Tokyo Cement Group has reaffirmed its position as the leading partner in Nation-building.

Tokyo Cement Group celebrates its partners at the 2023 Dealer Convention

Tokyo Cement Group rewarded their top performing dealers at the 2023 Annual Dealer Convention inclusive of a unique excursion experience and a gala award ceremony, organized in two segments at the Cinnamon Grand and the Kingsbury Hotel. At this year’s event, the Company took their top dealers sailing along the Port City Marina aboard a catamaran, giving them a view of the picturesque Colombo city skyline during sunset. The awards night was complete with a star-studded entertainment line-up befitting the outstanding performance of the dealer partners.

City Hardware & Stores – Jaffna

City Hardware & Stores – Jaffna, Ancheneyer Cement & Hardware Dealer – Batticaloa, National Trading Stores – Kurunegala, Shanmugam Stores – Kilinochchi, and Emerald Hardware – Uduppiddy were crowned Top Performers, amongst a total of 162 winners from ten categories at the Tokyo Cement Group 2023 Dealer Convention. Held under the auspices of the executive management of Tokyo Cement Company (Lanka) PLC, including the Managing Director – Mr. S.R. Gnanam, Group COO – Mr. M. Thayananthan, Consultant Director – Mr. Christopher Fernando, General Manager Group Marketing – Mr. Dashantha Udawatta, and Marketing Director – Mr. Billy Walpola, the event brought together Tokyo Cement dealers and distributors from across the island to recognize their outstanding accomplishments during the previous year.

Ancheneyer Cement & Hardware Dealer – Batticaloa

National Trading Stores – Kurunegala

The event highlighted the support extended by the Dealers of Tokyo Cement to maintain business momentum amidst turbulent market conditions in 2022. The Managing Director, Mr. S.R. Gnanam offered his felicitations to the sales network for their unwavering confidence that enabled Tokyo Cement to maintain its industry leadership as the country’s No.1 cement manufacturer despite the unprecedented business disruptions faced during the period. Speaking of the tough economic conditions the country is experiencing, Mr. Gnanam reiterated Tokyo Cement’s commitment to support its sales network to weather the situation with greater resilience.

Shanmugam Stores – Kilinochchi

Emerald Hardware – Uduppiddy

The Annual Dealer Convention is the primary event organised by the Tokyo Cement Group to recognise its trade channel. The event is a celebration of the longstanding partnership between the company and its vast sales and distribution network that has grown from strength to strength over the last four decades. As a truly homegrown company that is intrinsic to Sri Lanka’s progress, Tokyo Cement Group has pledged to enrich our national economy through local value creation, in which the Company’s dealer network plays a crucial role. Together with the sales network, Tokyo Cement Group has established its prestigious set of brand names that include; NIPPON CEMENT, TOKYO SUPER, NIPPON CEMENT PRO and ATLAS CEMENT, and TOKYO SUPERMIX Ready Mixed Concrete, and the innovative range of products starting with TOKYO SUPERBOND, TOKYO SUPERSEAL and TOKYO SEUPERCAST among others, as reliable household names that have transformed the local construction industry.

Having earned its reputation as the most trusted supplier of high-quality cement, concrete and cement-based innovative products, Tokyo Cement Group has reaffirmed its position as the leading partner in Nation-building.

Tokyo Cement Group expands “Nourishing the Future” School Nutrition Program

Tokyo Cement Group recently extended its “Nourishing the Future” school nutrition program by adding 179 students from four schools in Siyambalanduwa in the Monaragala District. The initiative includes primary grade students of Wattegama Sirimal Kanista Vidyalaya in Kotiyagala, Bambaragasroda Kanista Vidyalaya in Siyambalanduwa, and Barawaya Primary School and Danakiriya Kanista Vidyalaya in Kandaudapanguwa, who now receive a balanced mid-day meal on all five days of the week through this scheme.

Tokyo Cement was silently operating this benevolent social upliftment program for several years in the past, where they provided mid-day meals to over 300 students of Thiriyaya Maha Vidyalaya in Trincomalee. With the addition of Monaragala schools, Tokyo Cement Group’s “Nourishing the Future” mid-day meal program now touches the lives of over 475 schoolchildren hailing from backgrounds of reduced circumstances.

Mr. Praveen Gnanam, Director Innovations, Tokyo Cement Group, commenting on the expansion of this far-reaching initiative said, “The purpose of this program is to address the childhood malnutrition epidemic that has grown exponentially over the course of this year. Left unchecked, malnutrition has the potential to cause both mental and physiological developmental diseases for future generations. Furthermore, parents are more likely to send their children to school if they are fed, thereby increasing access to education for those most impacted by the economic crisis.”

179 students in 4 schools in Moneragala receive a balanced mid-day meal through Tokyo Cement Group’s “Nourishing the Future” school nutrition program

The daily meal plans follow the guidelines issued by the Ministry of Education, to ensure all main food groups consisting of greens, pulses, a fresh dairy product and a locally sourced fruit is included therein, to supplement their diet and fulfil the children’s nutritional growth needs. To ensure the students receive a wholesome lunch on a consistent basis and the children’s growth milestones are achieved progressively, Tokyo Cement has implemented a comprehensive monitoring process with help from each schools’ administration, parent groups, Zonal Director of the Ministry of Education and local health officers attached to the Ministry of Health.

The daily meal-plans include all main food groups to fulfil the children’s nutritional growth needs

The Zonal Educational Director played a key role in coordinating the program between the schools’ authorities and Tokyo Cement. On ground, the program is executed under the supervision of the principal and teachers in each school, whilst voluntary teams of parents help prepare the meals. Tokyo Cement has also stepped up the program by supplying the basic utensils and amenities required, to standardize each school kitchen to operate under optimal hygienic conditions during food preparation. The local Public Health Inspectors supervise the program by visiting the schools on a regular basis to ensure the meals are prepared adhering to strict health guidelines.

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Meals are prepared by voluntary teams of parents under strict hygienic conditions supervised by local health authorities and the principal and teachers in each school

This compassionate endeavour was started by Tokyo Cement Group’s Founder Chairman, Deshamanya A.Y.S. Gnanam, who during his time saw the importance of providing a healthy meal to schoolchildren from low-income families to encourage school attendance as a much-needed boost to complete their primary education. Tokyo Cement Group’s decision to expand the program comes at a time when several international agencies such as UNICEF and the WB have flagged the rising rates of malnutrition and growth deficiencies among children in all parts of Sri Lanka, especially in low-income segments, due to the rapid rise of food inflation. The Nourishing the Future school nutrition program addresses this issue with a tangible solution that lifts a huge burden off the parents, who are on a daily struggle to provide a square meal for their children amidst dire economic conditions.

The program is among the many social empowerment projects deployed by the Company with a profound impact on the lives of the people of our country. Tokyo Cement Group’s commitment to social responsibility breathes life through initiatives such as this, by which they have successfully integrated social welfare and environmental conservation into its corporate DNA, as part of the vision to become the leading partner in Nation-building.