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Purpose and Background of This Issuance
Based on our group philosophy of “to Create a Vibrant Environment for All Members of Society,” TAISEI Corporation has established an environmental policy that strives to create high-quality social capital through corporate activities centered on the construction business in harmony with nature. In addition, “TAISEI Green Target 2050,” our set of medium- to long-term environmental targets, sets forth four societies (a decarbonized society, a recycling oriented society, a nature co-existing society, and a safety secured society) toward the realization of a sustainable, environmentally friendly society, and aims to achieve virtually zero CO2 emissions from business activities by 2050 to realize a decarbonized society.
In order to realize our group’s Medium- to Long-Term Vision, “TAISEI VISION 2030,” our Medium-Term Business Plan (2021-2023) specifies that focused efforts will be made over a three-year period as a priority issue. Regarding sustainability, the plan calls for accelerating efforts toward carbon neutrality and promoting the development of technology to solve environmental and social issues.
Against this background, our company has issued green bonds with the aim of raising awareness of the Group’s environmental initiatives among a wide range of stakeholders and contributing to the realization of a decarbonized society.
1. Overview of Green Bonds
| Name | TAISEI Corporation 40th Issuance of Unsecured Bonds (with inter-bond pari passu clause) (Green Bonds or TAISEI Green Bonds) |
|---|---|
| Condition Determination Date | December 3, 2021 |
| Issue Date | December 9, 2021 |
| Total Amount Issued | 10 billion yen |
| Maturity Period | 5 years |
| Interest Rate | 0.100% |
| Use of Funds |
|
| Lead Organizers | Nomura Securities Co., Ltd. (Admin), Mizuho Securities Co., Ltd. |
| Green Bond Structuring Agent*3 |
Mizuho Securities Co., Ltd. |
| Acquired Rating | A+ (Rating and Investment Information, Inc.), AA- (Japan Credit Rating Agency, Ltd.) |
- *1Building-Housing Energy-efficiency Labeling System (BELS) ZEB certification
A certification system in which a third-party evaluation organization evaluates and displays the energy-saving performance of new and existing buildings, led by the Ministry of Land, Infrastructure, Transport and Tourism. A Building Energy-efficiency Index (BEI) value is calculated according to the calculation method determined by the government, and the number of stars received is determined by this value. Among the highest ranked five-star buildings, those with even better energy-saving performance are certified as ZEB (ZEB, Nearly ZEB, ZEB Ready, or ZEB Oriented). - *2ZEB: (Net Zero Energy Building)
“Buildings in which annual primary energy consumption is reduced to zero or almost zero on a net basis by improving the energy-saving performance of the building or facilities, making full use of energy, utilizing on-site renewable energy, etc.” In other words, a building that consumes as little energy as possible and has facilities for generating energy, resulting in an annual energy balance of zero. - *3Green Bond Structuring Agent
Those who support the issuance of green bonds through the formulation of a green bond framework, giving advice on obtaining second opinions, etc.
2. Third-party Assessment of Eligibility
As a third-party assessment regarding the eligibility of these green bonds, a second party opinion was obtained in the “JCR Green Bond Rating,” conducted by Japan Credit Rating Agency, Ltd. (JCR). They determined that the bonds comply with the Green Bond Principles 2021 and the Green Bond Guidelines 2020, and gave their highest rating, “Green1.”
3. Investment Announcement Regarding These Green Bonds
We would like to introduce the investors who have announced their investment in these green bonds.
(As of December 3, 2021, listed in Japanese alphabetical order)
- OTEC CORPORATION
- The Kagoshima Bank, Ltd.
- Shinkin Central Bank
- SUMITOMO LIFE INSURANCE COMPANY
- Daitokyo Shinyokumiai
- THE TOHO BANK, LTD.
- Japan Earthquake Reinsurance Co., Ltd.
- NIHON DENGI CO., LTD.
- THE HACHIJUNI BANK, LTD.
- HIGASHI-NIPPON BANK, Ltd.
- Mitsubishi UFJ Trust and Banking Corporation
- The Miyazaki Taiyo Bank, Ltd.
4. Reporting
Once a year, a report on the status of fund allocation and environmental benefits will be disclosed on the Company's Sustainability website.
