In our previous work, 10 Wh-class (30650 type) lithium secondary batteries, which were fabricated with LiNi0.7Co0.3O2 positive electrodes and graphite–coke hybrid carbon negative electrodes, showed an excellent cycle performance of 2350 cycles at a 70% state of charge charge–discharge cycle test. However, this cycle performance is insufficient for dispersed energy storage systems, such as home use load leveling systems. In order to clarify the capacity fade factors of the cell, we focused our investigation on the ability discharge capacity of the positive and negative electrodes after 2350 cycles. Although the cell capacity deteriorated to 70% of its initial capacity after 2350 cycles, it was confirmed that the LiNi0.7Co0.3O2 positive electrode and graphite–coke hybrid negative electrode after 2350 cycles still have sufficient ability discharge capacity of 86 and 92% of their initial capacity, respectively. Accompanied by the result for a composition analysis of the positive electrode material by inductively coupled plasma (ICP) spectroscopy and atomic absorption spectrometry (AAS), electrochemical active lithium decreased and the Li x Ni0.7Co0.3O2 positive electrode could be charged–discharged in a narrow range of between x=0.41 and 0.66 in the battery, although it had enough ability discharge capacity that can use between x=0.36 and 0.87. It is predicted that solid electrolyte interface formation by electrolyte decomposition on the carbon negative electrode during the charge–discharge cycle test is a main factor of the decrease of electrochemical active lithium.