Domestic Issuance List of Sustainability Linked Loan

The first sustainability linked loan in Japan was executed in 2019. The following are major execution cases in Japan.

Case study of major Sustainability Linked Loan in Japan

Funders Main Financial Institutions Independent Evaluator Reporting Policy Date of Contract Period of Borrowing Loan Amount Sustainability Performance Targets Characteristics of the loan
Nippon Yusen Kabushiki Kaisha MUFG Bank, Ltd. Japan Credit Rating Agency, Ltd. Nippon Yusen Kabushiki Kaisha plans to report to MUFG Bank, Ltd. every year as soon as the score results are received 2019/11/29PDF 5 years 50 billion yen SPT is defined as maintaining a high rank in the CDP
Impact indicators disclosed to CDP include the degree of achievement in decarbonization of ships in the medium-term management plan and the long-term decarbonization plan "NYK SUPER ECO SHIP 2050", which is shown by setting targets and confirming the degree of achievement every year.
The interest rate terms attributed to the CDP score will not change until the repayment due date, as long as the annual monitoring maintains a certain score
Toyoda Gosei Co., Ltd. MUFG Bank, Ltd. Japan Credit Rating Agency, Ltd. Toyoda Gosei Co., Ltd. plans to report to MUFG Bank, Ltd. as soon as the results for fiscal 2020 are determined
Toyoda Gosei Co., Ltd. plans to report to MUFG Bank, Ltd. on the progress of SPT achievement every year from fiscal 2021 onward.
2019/12/23PDF 4 years 5 billion yen SPT is defined as the reduction of CO2 and waste emitted through business activities on a per-unit basis
The following 3 goals have been set for the year 2020
① Unit of CO2 intensity (CO2 emissions per sales, globally consolidated): 12% reduction from 2012
② Unit of CO2 intensity (CO2 emissions per unit of sales): 17% reduction from 2012
③ Unit of waste intensity (Waste per unit of sales): 12% reduction from 2012
Achieve the above 3 goals in FY2020 and maintain them thereafter until the repayment deadline
Preferential interest rates will be maintained if the FY 2020 reduction target is met
Sumitomo Heavy Industries, Ltd. Sumitomo Mitsui Trust Bank, Limited Japan Credit Rating Agency, Ltd. Sumitomo Heavy Industries, Ltd. plans to periodically report to Sumitomo Mitsui Trust Bank, Limited on the status of SPT achievement (the final level of sustainability achievement will be confirmed when the repayment deadline arrives) PDF SPT is defined as targets for reducing CO2 emissions during product production and transportation, and the percentage of sales of environmentally friendly products Not disclosed
COSMO ENERGY HOLDINGS Co.,Ltd. Mizuho Bank, Ltd. Japan Credit Rating Agency, Ltd. COSMO ENERGY HOLDINGS Co.,Ltd. will report annually to Mizuho Bank, Ltd. on the achievement of the SPT 2020/3/31Open in new tab or window 3 years 10 billion yen SPT is defined as the start of the group's future onshore wind farm operations and the availability of existing wind farms Interest rate terms will vary depending on the achievement of SPT
Ricoh Company, Ltd. MUFG Bank, Ltd. Rating & Investment Information, Inc. Ricoh Company, Ltd. plans to disclose its greenhouse gas (GHG) emission reductions (SCOPE 1 and 2) to the public every year in "the ESG Data Book" and "Ricoh Group Integrated Reports" 2020/4/10PDF 5 years 10 billion yen Revised the target for reducing in-house greenhouse gas (GHG) emissions by 2030 to 63% from the 2015 level, up from a previous target of 30%, and obtained certification for this environmental target under the new ""1.5°C target"" of the SBT Initiative.
SPT is defined as the GHG reduction target set by Ricoh Company, Ltd. in line with the ""1.5°C target"" of the SBT Initiative
Interest rate terms will vary depending on the achievement of SPT
Mitsubishi Estate Company,Limited The Norinchukin Bank Japan Credit Rating Agency, Ltd. Mitsubishi Estate Company,Limited plans to report annually to the Norinchukin Bank on the progress of the SPT 2020/5/29PDF 11years and 3 months 11.5 billion yen SPT is defined as CO2 emissions (target for 2030: 35% reduction from 2017) and renewable electricity ratio (target for 2030: 25%) in line with the targets set in "the Mitsubishi Estate Group's SDGs 2030" Interest rate terms will vary depending on the achievement of SPT
Yamazaki gravel Inc. SHIGA BANK, LTD. Rating & Investment Information, Inc. Yamazaki gravel Inc. plans to make the SPT available on its website, and to announce its progress on the website every year 2020/9/17PDF 0.5 billion yen The SPT is defined as achieving a recycling rate of 93% by 2025 from the current 91% Lending terms and conditions are linked to Yamazaki gravel Inc.'s performance on SPT
The interest rate spread to be applied during the lending period is determined based on 3 requirements: ① reporting on the progress of initiatives, ② submission of a third-party opinion, and ③ achievement of the target figure (recycling rate)
If ① and ② are not complied with, the spread will widen.
If ① and ② are complied with, the interest rate will remain the same even if ③ is not achieved, but if ③ is achieved, the spread is set to shrink.
MEIDENSHA CORPORATION Sumitomo Mitsui Banking Corporation The Japan Research Institute, Limited.

DNV GL BUSINESS ASSURANCE JAPAN K.K.
MEIDENSHA CORPORATION discloses the targets of its medium-term management plan and annual performance figures in the Meidensha Report every year, and plans to continue to disclose the status of SPT achievement through the publication of the Meidensha Report. 2020/9/23Open in new tab or window The following 3 items are established as the SPT for FY 2020
① Expansion of environmental contribution projects:
900,000 tons (841,000 tons in FY2018 and 848,000 tons in FY2019) of CO2 emissions reduction through environmental contribution projects
② Appropriate management of chemical substances:
VOC emissions of 80 tons or less (96 tons in FY2018 and 83.3 tons in FY2019)
③ Strengthen the value chain management:
Green procurement rate of 90% or more (Based on the company's standards, 85% in FY2018 and 87% in FY2019)
If at least one of the 3 SPTs is achieved, MEIDENSHA CORPORATION can request The Japan Research Institute, Ltd. to evaluate the progress of its efforts to improve its sustainability management and issue a written opinion.
SymEnergy Inc. SHIGA BANK, LTD. Rating & Investment Information, Inc. SymEnergy Inc. is planning to make its SPTs available on its website and other media and to disclose its progress once a year. SymEnergy Inc. intends to represent that this financing is based on Sustainability Linked Loans and will ensure transparency by disclosing information about SPTs 2020/11/30Open in new tab or window - 25 billion yen SymEnergy Inc. set up the following as SPT
In renewable energy projects involved in the development;
・Development in collaboration with local businesses, municipalities and other corporate entities in the development area
・The sum of the investment ratio of other corporate entities, etc. is more than 1/3
・Aim to complete two to three projects per year that meet the above
The interest rate spread applied during each interest payment period is set in two ways: if the SPTs' targets are met or if the targets are not met.
The performance of the SPTs and the lending terms are linked and applied over the lending period.
Mitsubishi Chemical Holdings Corporation Development Bank of Japan Inc. Mitsubishi Chemical Holdings Corporation (MCHC) will report annually to the Development Bank of Japan the latest information on the progress and achievement of SPT performance.

MCHC will also disclose information on the status of SPT achievement to the public on its website on a regular basis.
2020/11/30PDF 10 years 30 billion yen ①Status of promotion of chemical recycling projects that contribute to solving problems related to plastic waste, etc.

②The volume of plastic recycling processed to measure the degree of contribution to solving these issues.
Not disclosed
Fuyo General Lease Co., Ltd. Development Bank of Japan Inc. Fuyo General Lease Co., Ltd. will report annually to the Development Bank of Japan on the progress and achievement of SPT performance.

In addition, information on the status of SPT achievement will be disclosed to the public on a regular basis via the company's website
2020/12/14Open in new tab or window 5 years 5 billion yen ①Number of companies providing BPO services in the Group: Equal to or more than 20,000 (as of March 31, 2022)

②Cumulative transaction amount for "Support Program for Fuyo Renewable Energy 100 Declaration" and "Fuyo Zero Carbon City Support Program": 5 billion yen or more (deadline: July 2024)
Not disclosed
T'STILE SHIGA BANK, LTD. Shigagin Keizai Bunka Center CO.,LTD. T'STILE will disclose the SPTs on its website, etc., and will announce the progress of the SPTs on its website once a year.
This will enable Shiga Bank to obtain up-to-date information on the progress of the SPTs.
T'STILE intends to declare that this financing is based on the Sustainability Linked Loan. Transparency will be ensured by disclosing information on SPTs to the public.
2021/1/25PDF - 0.05 billion yen Rate of mixed construction waste (ratio of mixed construction waste to total construction waste) and number of net zero energy houses (ZEH) built The interest rate spread applied during the loan period is determined by the achievement of the following two requirements
(1) The borrower must report to the lender on the progress of the initiative.
(2) Achieve the target values of SPTs above.

If (1) is not complied with, the spread will be increased. If (1) is complied with, the spread will remain the same even if (2) is not achieved, but the spread is set to decrease for the achievement of each item of SPTs.
Isetan Mitsukoshi Holdings Ltd. Sumitomo Mitsui Trust Bank, Limited Japan Credit Rating Agency, Ltd. Isetan Mitsukoshi Holdings plans to report to Sumitomo Mitsui Trust Bank on the status of achievement of SPTs once a year.

In addition, Isetan Mitsukoshi Holdings, Sumitomo Mitsui Trust Bank and JCR will evaluate the final level of sustainability achievement in the year when the repayment is due.
2021/1/29PDF 5 years 5 billion yen Maintain a leadership level (A, A-) in the climate change score published by CDP. Lending conditions vary depending on the achievement of SPT.
Japan Real Estate Asset Management Co.,Ltd. The Norinchukin Bank Japan Credit Rating Agency, Ltd. JRE plans to disclose the progress of the SPTs it has set, with verification or certification for each item, in its Sustainability Report and on its website, and to report annually to the Norinchukin Bank. When the loan becomes due, JRE, The Norinchukin Bank and JCR will conduct a review of the loan to assess not only the achievement of the SPTs but also the impact on JRE and society. 2021/1/29PDF 10.5 years 5 billion yen SPTs1: Reduction in greenhouse gas emissions compared to FY2013 levels
(FY2030 target: 35% reduction compared to FY2013 levels)
SPTs2: Number of buildings with ZEB certification under BELS
(including Nearly ZEB, ZEB Ready, and ZEB Oriented)
(FY2030 target: 5 buildings)
In order to incentivize the achievement of JRE's sustainability strategy, the timing of interest rate reviews is set multiple times until the repayment date arrives, and the lending terms are linked to the progress of SPTs at the timing.
11 years 5 billion yen
Nippon Yusen Kabushiki Kaisha SHIGA BANK, LTD. Rating & Investment Information, Inc. The results of NYK's CDP climate change score will be disclosed on the CDP website once a year.
In response to this, NYK will disclose the achievement status of the SPT directly to related parties, and will also disclose it to the public on its own website.
2021/2/5Open in new tab or window 4 years USD 0.05 billion To obtain a high score in CDP's climate change score. The interest rate spread applied during each interest payment period is set in three ways: when the CDP score of the SPTs is A~A-, B~B-, and C or lower. The lending terms and NYK's performance against the SPTs are linked.
SCREEN Holdings Co., Ltd. MUFG Bank, Ltd. Japan Credit Rating Agency, Ltd. Progress of the set SPTs will be reported to MUFG Bank and the Loan Participant Banks once a year.
When the repayment date arrives, SCREEN Holdings, MUFG Bank, and JCR will conduct a review of the Loan to assess not only the achievement of the SPTs but also the impact on SCREEN Holdings and society.
2021/3/16Open in new tab or window 3 years 10 billion yen Reduce CO2 emissions (on a gross basis, Scope 1 and 2) by 10% by the fiscal year ending March 2024, compared to the fiscal year ending March 2019, as a milestone toward the SBT of reducing CO2 emissions by 30% by the fiscal year ending March 2030. ・The interest rate will be revised several times until the repayment date, and the lending conditions will be linked to the progress of SPTs at the timing.
Nippon Yusen Kabushiki Kaisha Sumitomo Mitsui Banking Corporation Japan Credit Rating Agency, Ltd. NYK will report to the main financial institution on the score results of CDP set as SPT as soon as they are received from CDP, the scoring organization.
In addition, when the repayment date arrives, NYK, the main financial institution, and JCR will conduct a review of the Loan and evaluate the status of the achievement of the SPT as well as the status of the impact on NYK and society.
2021/3/31Open in new tab or window 5 years USD 0.6 billion Maintain a high rating (A or A-) in the CDP climate change score Not disclosed
MUFG Bank, Ltd. USD 0.204 billion
SHIMIZU CORPORATION Mizuho Bank, Ltd. Japan Credit Rating Agency, Ltd. Shimizu Corporation plans to report annually to Mizuho Bank and the other banks participating in the commitment line on the progress of the SPT it has set.

In addition, when the commitment date arrives, Shimizu Corporation, Mizuho Bank and JCR will review the commitment line and assess the status of the achievement of the SPT as well as the impact on Shimizu Corporation and society.
2021/3/31Open in new tab or window 3 years 20 billion yen Reduce CO2 emissions from construction projects by 10% from FY2017 levels by the end of FY2023 Until the commitment deadline arrives, there will be several times when the commitment fee will be reviewed, and the commitment fee will be linked to the progress of the SPT at that time.
SEIBU HOLDINGS INC. Sumitomo Mitsui Trust Bank, Limited Japan Credit Rating Agency, Ltd. Seibu HD will report to Sumitomo Mitsui Trust Bank once a year on the progress of the SPTs set.

When the repayment date arrives, a review of the Loan will be conducted among Seibu HD, Sumitomo Mitsui Trust Bank, Limited and JCR to assess the status of impact on Seibu HD in addition to the status of achievement of SPTs.
2021/3/31PDF 9 years 5 billion yen Reduce unit CO2 emissions (CO2 emissions per operating revenue) by 25% from FY2018 levels by FY2030. The timing of interest rate reviews is set annually until the repayment date arrives, and loan terms and conditions are linked to the achievement of SPTs at that time.
Tokyo Century Corporation Sumitomo Mitsui Trust Bank, Limited Japan Credit Rating Agency, Ltd. Tokyo Century plans to report annually to Sumitomo Mitsui Trust Bank on the progress of the established SPTs. When the repayment period is due, the three companies — Tokyo Century, Sumitomo Mitsui Trust Bank, and JCR — will review the loan to assess not only the progress of SPTs but also the impact on Century Tokyo and society. 2021/3/31PDF 5 years 15 billion yen SPT1:
Achieve the targets for annual power generation and CO2 reduction by the photovoltaic power generation business of Kyocera TCL Solar GK. (Targets for FY 2023 and beyond are set above the target level for FY 2022)
SPT2:
Achieve the projected GHG reduction contribution (cumulative) target of the JCM (bilateral credit scheme)
*Specific target values will be disclosed in the ESG Data Book to be published in fiscal 2021.
SPT3:
Maintain DX certification (Ministry of Economy, Trade and Industry).
Establish a review of loan terms and conditions during the period in accordance with the progress of the SPTs
TSUBAKI NAKASHIMA CO., LTD. Resona Bank, Limited Rating & Investment Information, Inc. Tsubaki Nakashima plans to submit a report on consolidated sales of ceramic balls to Resona Bank once a year and disclose the information to investors at financial results briefings and other occasions. 2021/3/31PDF 7 years 5 billion yen Achieve consolidated ceramic ball sales of 8,254 million yen in the fiscal year ending December 2023. Interest rate spreads applied during each interest payment period are set in two ways: if the SPT targets are met, and if the SPT targets are not met.
KUSATSU ELECTRIC CO.,LTD. SHIGA BANK, LTD. Shigagin Keizai Bunka Center CO.,LTD. ・ Describe the SPTs in the action plan to be submitted to Shiga Prefecture, and submit a copy to the lender.
・ The action plan is published on the Shiga Prefecture website.
・ The progress is described in the action report submitted to Shiga Prefecture once a year, and a copy is submitted to the lender.
・ The action report is also published on the Shiga Prefecture website.
・ Disclose information about SPTs to the public
2021/3/31PDF - 0.5 billion yen Set a reduction target in line with the action plan in the main plant, which accounts for more than two-thirds proportion of the entire company in greenhouse gas emissions, based on the "Shiga Prefecture, low-carbon society promotion plan" of Shiga Prefecture. Interest rate terms will vary depending on the achievement of SPT
Kitai Sekkei Co., Ltd. SHIGA BANK, LTD. Shigagin Keizai Bunka Center CO.,LTD. Kitai Sekkei will disclose the SPTs on its website, etc., and will submit the progress of the SPTs to the lender Shiga Bank in writing once a year. 2021/3/31PDF - - Number of survey and design services related to green infrastructure and their sales Lending conditions vary depending on the SPT achieved
SUMIMOTO FACTORY Co.,Ltd. The Chugoku Bank, Ltd Rating & Investment Information, Inc.

Okayama Economic Research Institute
・ Report to the Bank of China once a year
・ At the time of reporting, the Okayama Institute of Economic Research will confirm the validity.
2021/5/21PDF 5 years 0.01 billion yen Power consumption reduction rate per sales (%)
2022/5 Target : Down 1.5% from 2021/5
2023/5 Target : Down 1.5% from 2022/5
2024/5 Target : Down 1.5% from 2023/5
2025/5 Target : Down 1.5% from 2024/5
Depending on the achievement of SPT, the applicable interest rate will be reduced by up to 0.2% per year.
TAKAHASHI co,. ltd. SHIGA BANK, LTD. Shigagin Keizai Bunka Center CO.,LTD. Takahashi will report to the lenders on the progress of the SPT once a year. 2021/6/24PDF - 0.08 billion yen Cumulative increase in total installed capacity of photovoltaic panels Lending conditions vary depending on the SPT achieved
Yamatojuken The Chugoku Bank, Ltd Rating & Investment Information, Inc.

Okayama Economic Research Institute
・ Report to the Bank of China once a year
・ At the time of reporting, the Okayama Institute of Economic Research will confirm the validity.
2021/6/30PDF 5 years 0.01 billion yen ZEH ratio (%)
Fiscal 2021 target: 80%
Fiscal 2022 target: 80%
Fiscal 2023 target: 80%
Fiscal 2024 target: 80%
Depending on the achievement of SPT, the applicable interest rate will be reduced by up to 0.2% per year.
Fujii Store Corporation The Chugoku Bank, Ltd Rating & Investment Information, Inc.

Okayama Economic Research Institute
・ Report to the Bank of China once a year
・ At the time of reporting, the Okayama Institute of Economic Research will confirm the validity.
2021/7/1PDF 5 years 0.05 billion yen Power consumption reduction rate (%)
FY 2021 target: 1.5 less than FY 2020
FY 2022 target: 1.5 less than FY 2021
FY 2023 target: 1.5 less than FY 2022
FY 2024 target: 1.5 less than FY 2023
Depending on the achievement of SPT, the applicable interest rate will be reduced by up to 0.2% per year.
GS Yuasa Corporation MUFG Bank, Ltd.,
Sumitomo Mitsui Trust Bank, Limited,
The Bank of Kyoto, Ltd.,
SHIGA BANK, LTD.
Japan Credit Rating Agency, Ltd. ●Disclose the following items at least once a year
・Up-to-date information on the performance of selected KPIs
・Information that is useful for lenders to gauge the level of ambition of SPTs.

●Disclose the following information to the extent possible
・A qualitative and quantitative description of the main factors that contributed to the improvement in performance/KPIs (including M&A activities, etc.)
・Description of how performance improvement will affect the borrower's sustainability.
・Whether or not KPIs have been reassessed, whether or not SPTs have been revised, and whether or not baseline assumptions or the scope of KPIs have been changed.
2021/7/19Open in new tab or window 5 years 7 billion yen By FY2025, reduce CO2 emissions (total amount basis, Scope 1 and 2) by 15% from FY2018 levels, as a milestone toward reducing CO2 emissions by 30% or more compared to FY2018 levels by FY2030 The interest rate is reviewed multiple times until the repayment date arrives, and the loan terms and conditions are linked to the progress of the SPT at that time.
OUTSOURCING Inc. Shinsei Bank, Limited Shinsei Bank, Limited Sustainable Impact Development Division,Sustainable Impact Assessment Department Provide information to lenders and the general public at least once a year on the status of achievement of SPTs. 2021/7/26PDF Tranche A: 2 years
Tranche B: 5 years
15 billion yen 1. increase in the number of foreign residents supported for employment
2. increase in the number of people who realize career change from labor-intensive sector to specialist human resources (IT human resources targeting engineers and science and engineering human resources)
3. increase in the number of people taking advantage of high quality educational programs for career advancement
4. increase in the number of specialists who can improve industrial productivity
Lending terms will vary depending on whether SPTs are met or not met.
Nipro Corporation Crédit Agricole Corporate and Investment Bank Rating & Investment Information, Inc. ・Disclose the progress of the SPT to the arranger/agent and lenders once a year.
・Notify the syndicate of arrangers/agents and lenders of the actual number of units sold overseas in writing annually.
2021/7/28PDF Tranche A:
7 years
7.6 billion yen Number of Dialyzers sold outside Japan in FY2025 and FY2027 (target will not be disclosed for competitive reasons) It is designed to step up the applicable interest rate if the SPT targets for FY2025 and FY2027 are not met.
Tranche B:
10 years
7.4 billion yen
Nomura Real Estate Holdings, Inc. The Chiba Bank, Ltd. Rating & Investment Information, Inc. ・Emissions from Scope 1, 2, and 3 (Categories 1 and 11), which make up the KPIs, are reported on Nomura Real Estate Holdings' sustainability website and in its CSR report, along with information on its sustainability policy and governance.
・All stakeholders, including lenders, have access to public information on the performance of KPI-1 and KPI-2 for each fiscal year, and this information is used to promote ongoing dialogue.
2021/7/30PDF - 11 billion yen SPT-1: Reduce the amount of Scope 1 and 2 emissions by 35.0% compared to FY2019 by FY2030.
SPT-2 : Reduce the amount of Scope 3 emissions (Category 1 and 11) by 35.0% compared to FY2019 by FY2030.
Preferential interest rate spread according to the achievement of SPTs.
YAMATO JYUKEN, INC SHIGA BANK, LTD. Shigagin Keizai Bunka Center CO.,LTD. In addition to disclosing the status of achievement of SPT on its website, YAMATO JYUKEN plans to submit a written report to Shiga Bank. 2021/7/31PDF - 0.2 billion yen Achieve 80% of the commissioning rate for ZEH (Net Zero Energy House) every year from FY2021 to FY2025. Lending conditions vary depending on the SPT achieved
Nagi Co., ltd. The Chugoku Bank, Ltd. Rating & Investment Information, Inc.

Okayama Economic Research Institute
・Report to The Chugoku Bank once a year on the status of fund allocation (projects allocated, amount of funds), unallocated balance, and environmental improvement effects.
・At the time of reporting, the Okayama Economic Research Institute will confirm the validity of the report.
2021/8/12PDF 5 years 0.1 billion yen CO2 reduction rate per net sales (%)
FY2021 target: ▲3.0% compared to FY2020
FY2022 target: ▲3.0% compared to FY2021
FY2023 target: ▲3.0% compared to FY2022
FY2024 target: ▲3.0% compared to FY2023
The achievement of SPTs is checked once a year at the end of the month corresponding to the execution date of the loan contract as the reference date, and if the SPTs are achieved, the interest rate reduction specified in advance for each contract will be applied.
West Japan Railway Company Sumitomo Mitsui Trust Bank, Limited Japan Credit Rating Agency, Ltd. ●The following items will be disclosed at least once a year:
✓Updates on the performance of selected KPIs (including baseline assumptions)
✓Information useful for lenders to gauge the level of ambition of SPTs
●To the extent possible, disclose the following information:
✓A qualitative and quantitative description of the main factors that contributed to the improvement in performance/KPIs (including M&A activities, etc.).
✓Description of how improved performance will impact the sustainability of the borrower
✓Whether KPIs have been reevaluated, whether established SPTs have been revised, and whether baseline assumptions or the scope of KPIs have been changed.
2021/8/20PDF - - Reduce the JR West Group's CO₂ emissions (total volume basis, Scope 1 and 2) by 46% from the FY2013 level by FY2030. SPT progress is monitored and interest rates are reviewed multiple times until the repayment date arrives, and loan terms and conditions are linked to SPT progress at each timing.
Sanbi Honda Hanbai Co.
(三備ホンダ販売)
The Chugoku Bank, Ltd. Rating & Investment Information, Inc.
Okayama Economic Research Institute
・Report to The Chugoku Bank once a year on the status of fund allocation (projects allocated, amount of funds), unallocated balance, and environmental improvement effects.
・At the time of reporting, the Okayama Economic Research Institute will confirm the validity of the report.
2021/9/16PDF 7 years 0.05 billion yen Annual amount of renewable energy generated:
2022/5 year target: 61,364kwh
2023/5 year target: 92,045kwh
2024/5 year target: 92,045kwh
2025/5 year target: 92,045kwh
2026/5 year target: 92,045kwh
2027/5 year target: 92,045kwh

・Solar power generation equipment installed in each store
・Set a target of providing 50% of electricity for self-consumption
The achievement of SPTs is checked once a year at the end of the month corresponding to the execution date of the loan contract as the reference date, and if the SPTs are achieved, the interest rate reduction specified in advance for each contract will be applied.
Tokyo Century Corporation Mizuho Bank, Ltd. Japan Credit Rating Agency, Ltd. The following items will be disclosed at least once a year
・Updates on the performance of selected KPIs (including baseline assumptions)
・Information useful for lenders to gauge the level of ambition of SPTs (e.g., information on the borrower's latest sustainability strategy and related KPI/ESG governance, as well as information on the analysis of KPIs and SPTs)
2021/9/24PDF 5 years 22.5 billion yen (1) Achieve the annual power generation and CO2 reduction contribution targets of Kyocera TCL Solar LLC's solar power generation business
(2) Achieve the assumed GHG reduction contribution (cumulative) target of the Japan Crediting Mechanism (JCM).
(3) Maintain DX certification (Ministry of Economy, Trade and Industry)
The financial characteristics of the arrangement change depending on whether or not the predetermined SPTs for the selected KPIs are achieved.
Sanken Electric Co., Ltd. Resona Bank,Ltd. Japan Credit Rating Agency, Ltd. The following items will be disclosed at least once a year
・Updates on the performance of selected KPIs (including baseline assumptions)
・Information useful for lenders to gauge the level of ambition of SPTs (e.g., information on the borrower's latest sustainability strategy and related KPI/ESG governance, as well as information on the analysis of KPIs and SPTs)
2021/9/27PDF 3 years 10 billion yen Reduce CO₂ emissions by 3% in FY2021, 11% in FY2022, and 12% in FY2023 (cumulative total of 12% compared to FY2020) for the Company and its domestic consolidated subsidiaries per fiscal year (total volume basis, Scope 1 and 2). The financial characteristics of the arrangement change depending on whether or not the predetermined SPTs for the selected KPIs are achieved.
KYUSHU LEASING SERVICE CO., LTD. THE NISHI-NIPPON CITY BANK, LTD. Rating & Investment Information, Inc. This loan requires KYUSHU LEASING SERVICE to disclose the progress of SPTs to the lender once a year as a compliance item of the loan agreement. By the end of June each year, the balance of assets covered by the loan from April to March of the previous year is compiled and the lender is notified in writing. This provides the lender with the latest information on the progress of SPTs. 2021/9/28PDF 3 years 1 billion yen Balance of environment-related operating assets at the end of the fiscal year ending March 31, 2022 and thereafter

※Environment-related operating assets refer to assets related to environmental consideration and energy saving, such as LED and EV vehicles and renewable energy power generation facilities (solar power plants, etc.) owned by KYUSHU LEASING SERVICE.
The base date for achieving the target has been set three times between the end of FY2021 and the end of FY2023, and it is designed so that the loan interest rate will be reduced if the SPTs are achieved and increased if they are not.
Yoshimei Co., Ltd. SHIGA BANK, LTD. Shigagin Keizai Bunka Center CO.,LTD. Yoshimei will submit a written report on the achievement of the SPT to the lenders. 2021/9/28PDF - - Percentage of domestic lumber used in the manufacture of glued laminated wood Lending conditions vary depending on the SPT achieved
Tokyo Century Corporation The Norinchukin Trust & Banking Co.,Ltd. Japan Credit Rating Agency, Ltd. The following items will be disclosed at least once a year
・Updates on the performance of selected KPIs (including baseline assumptions)
・Information useful for lenders to gauge the level of ambition of SPTs (e.g., information on the borrower's latest sustainability strategy and related KPI/ESG governance, as well as information on the analysis of KPIs and SPTs)
2021/9/30PDF 5 years 10 billion yen (1) Achieve the annual power generation and CO2 reduction contribution targets of Kyocera TCL Solar LLC's solar power generation business
(2) Achieve the assumed GHG reduction contribution (cumulative) target of the Japan Crediting Mechanism (JCM).
(3) Maintain DX certification (Ministry of Economy, Trade and Industry)
The financial characteristics of the arrangement change depending on whether or not the predetermined SPTs for the selected KPIs are achieved.
WATAMI CO., LTD. The Bank of Yokohama,Ltd. Rating & Investment Information, Inc. Watami will report to lenders once a year on the disclosure of SPT progress. This will provide the lenders with the latest information on the progress of SPT. In addition, progress will be disclosed on Watami's website. The lender will be able to obtain the latest information on the achievement of the SPT. 2021/9/30PDF 7 years 0.3 billion yen Obtain certification for the recycling business plan at all five of WATAMI's lunchbox factories by September 2026. (Number of certified factories as of the end of September 2021: 2) The decision date for achieving the target has been set at the end of September 2026. The lenders are designed to monitor the achievement of the SPT and reduce the loan interest rate if it is achieved.
Chugoku Kaihatsu
(中國開發)
The Chugoku Bank, Ltd. Rating & Investment Information, Inc.

Okayama Economic Research Institute
・Report to The Chugoku Bank once a year on the status of fund allocation (projects allocated, amount of funds), unallocated balance, and environmental improvement effects.
・At the time of reporting, the Okayama Economic Research Institute will confirm the validity of the report.
2021/9/30PDF 7 years 0.01 billion yen Annual amount of renewable energy generated:
Target for 2022/9: 17,732 kwh or more
Target for 2023/9: 35,464 kwh or more
Target for 2024/9: 35,464 kwh or more
Target for 2025/9: 35,464 kwh or more
Target for 2026/9: 35,464 kwh or more
Target for 2027/9: 35,464 kwh or more
Depending on the achievement of SPT, the applicable interest rate will be reduced by up to 0.2% per year.
Kumagai Gumi Co.,Ltd. The Gunma Bank,Ltd. Rating & Investment Information, Inc. As part of Kumagai's compliance with the loan agreement, the lender is required to report the progress of the SPT once a year. By the end of September each year, the lender is notified in writing of the number of renewable energy projects operated from April to March of the previous year. This will provide lenders with up-to-date information on the achievement of the SPT. 2021/9/30Open in new tab or window - - Achieve five renewable energy projects (in Japan) by the fiscal year ending March 31, 2024 The loan interest rate is designed to be lowered if 5 renewable energy projects are completed at the end of each fiscal year.
Hamagin Finance Co., Ltd. The Bank of Yokohama,Ltd. Rating & Investment Information, Inc. Under the terms of the loan agreement, Hamagin Finance is required to report to the Bank of Yokohama on the progress of the SPT by the end of June each year. This provides the Bank of Yokohama with up-to-date information on the progress of the SPT. 2021/9/30PDF 7 years 5 billion yen Achieve 1,260 million yen in new contracts (leases, installments, and consigned payments) for commercial products that contribute to energy conservation and decarbonization in the fiscal year ending March 2025 It is designed to raise interest rates if SPT for FY2025 is not met.
Yamaichi Metal Corp. THE SHIZUOKA BANK, LTD. Japan Credit Rating Agency, Ltd. Yamaichi Metal plans to disclose the performance of the KPIs to the lenders and JCR after the end of each fiscal year, with the actual results for the relevant fiscal year attached to the books of the previous fiscal year. In addition, the percentage of tablet sales volume established in the loan will be subject to volume verification by the tax accountant conducting the accounting audit. 2021/9/30PDF - 0.3 billion yen Ratio of tablets to total sales volume of Yamaichi Metals to be more than 80% The financial characteristics of the arrangement change depending on whether or not the predetermined SPTs for the selected KPIs are achieved.
Sennaritei
(千成亭風土)
SHIGA BANK, LTD. Shigagin Keizai Bunka Center CO.,LTD. ・SPTs are written in an action plan submitted to Shiga Prefecture, and a copy is submitted to the lender.
・The action plan is disclosed on the Shiga Prefecture website.
・Progress will be described in an action report to be submitted to Shiga Prefecture once a year, and a copy will be submitted to the lender.
・The action report is also disclosed on the Shiga Prefecture website.
・Information on SPTs is disclosed to the public.
2021/9/30PDF - 0.1 billion yen Reduction rate of CO2 emissions (per-unit basis) Lending conditions vary depending on the SPT achieved
SHINKO SEIKI CO., LTD. SHIGA BANK, LTD. Shigagin Keizai Bunka Center CO.,LTD. ・SPTs are written in an action plan submitted to Shiga Prefecture, and a copy is submitted to the lender.
・The action plan is disclosed on the Shiga Prefecture website.
・Progress will be described in an action report to be submitted to Shiga Prefecture once a year, and a copy will be submitted to the lender.
・The action report is also disclosed on the Shiga Prefecture website.
・ Information on SPTs is disclosed to the public.
2021/9/30PDF - 0.15 billion yen Reduction rate of CO2 emissions (per unit of production) for the Shiga Moriyama Plant and the company as a whole Lending conditions vary depending on the SPT achieved
Harada transport
(原田運送)
The Chugoku Bank, Ltd. Rating & Investment Information, Inc.

Okayama Economic Research Institute
・Report to The Chugoku Bank once a year on the status of fund allocation (projects allocated, amount of funds), unallocated balance, and environmental improvement effects.
・At the time of reporting, the Okayama Economic Research Institute will confirm the validity of the report.
2021/10/1PDF 5 years 0.05 billion yen CO2 reduction rate per net sales (%)
FY2022 target: 1.25% reduction compared to FY2021
FY2023 target: 1.25% reduction compared to FY2022
FY2024 target: 1.25% reduction compared to FY2023
FY2025 target: 1.25% reduction compared to FY2024
Depending on the achievement of SPT, the applicable interest rate will be reduced by up to 0.2% per year.
MEIDENSHA CORPORATION Sumitomo Mitsui Banking Corporation The Japan Research Institute, Limited.

DNV GL BUSINESS ASSURANCE JAPAN K.K.
Meidensha plans to disclose the status of achievement of SPTs through the publication of the Meidensha Report. In addition, it plans to disclose the results of third-party verification of GHG emissions (Scope 1+2) from its business activities on its website every year. 2021/10/1Open in new tab or window - - GHG emissions from business activities (Scope 1+2) (Japan): ▲3% (compared to FY2019) If the SPTs are achieved and improvements are made, Meidensha may request the Japan Research Institute, through SMBC, to evaluate and issue a written opinion that the Meidensha Group is making progress in its efforts to improve its sustainability management. Meidensha will also be exempted from the costs associated with the issuance of the opinion.
Eco Style Co.,Ltd. SHIGA BANK, LTD. Shigagin Keizai Bunka Center CO.,LTD. Ecostyle will notify the lender in writing by the end of July every year of the KPI results for the period from April to March of the previous year, after the results have been compiled and verified by a third party.The lender will be able to obtain the latest information on the achievement status of SPT. 2021/10/26Open in new tab or window - - 「Annual target for the number of low-voltage photovoltaic panels installed (single year or cumulative total)」
This is a measurement of the total number of solar panel capacities installed by Ecostyle, including those for which only installation was performed without sales of panels.
Lending conditions vary depending on the SPT achieved
Sanyo Homes Corporation SHIGA BANK, LTD. Rating & Investment Information, Inc. The results of KPI measurements for the period April to March of the previous year will be notified to the arranger/agent, Shiga Bank, and all lenders by the end of July each year. The lender will be able to obtain the latest information on the achievement status of SPT. 2021/10/27Open in new tab or window - 1.5 billion yen The ZEH ratio for detached houses is set at 76% for the fiscal year ending March 2022 (April 1, 2021 to March 31, 2022) and 77% for the fiscal year ending March 2023 (April 1, 2022 to March 31, 2023). Lending conditions vary depending on the SPT achieved
MINO Industry
(美濃工業)
The Juroku Bank, Ltd. Rating & Investment Information, Inc. Report in writing to the lender on the achievement of the SPTs by the end of June of each year or such other date as the lender may reasonably designate. 2021/11/4PDF - - Increase the share of sales of electrification components in the total products manufactured by Mino Industry by 2% per year for 10 years from 14% in the fiscal year ending February 28, 2022. It is designed to reduce the interest rate every year if the SPTs are achieved.
Japan Real Estate Investment Corporation The Norinchukin Bank Japan Credit Rating Agency, Ltd. ●The following items will be disclosed at least once a year
・Updates on the performance of selected KPIs (including baseline assumptions)
・Information useful for lenders to gauge the level of ambition of SPTs

● Disclose the following information to the extent possible
・A qualitative and quantitative description of the main factors that contributed to the improvement in performance/KPIs (including M&A activities, etc.)
・Explanation of how improved performance will impact the borrower's sustainability
・Whether or not KPIs are reevaluated, whether or not established SPTs are revised, and whether or not baseline assumptions or the scope of KPIs are changed
2021/11/15PDF 10 years 5 billion yen KPI1: Reduction in CO2 emissions compared to FY2013 results
SPT1: FY2030 target: 35% reduction from FY2013 levels

KPI2: Number of buildings certified as ZEB under BELS (including Nearly ZEB, ZEB Ready, and ZEB Oriented buildings)
SPT2: FY2030 target: 5 buildings
The financial characteristics will change depending on whether or not the predetermined SPTs for the selected KPIs are achieved.
Nakajima Chemical
(有限会社中島化学)
The Juroku Bank, Ltd. Rating & Investment Information, Inc. As part of the compliance requirements of the loan agreement, Nakashima Chemical is required to report annually on the progress of the SPTs to the provider of funds. Each year, a document confirming the figures for the SPTs determination must be submitted at least 10 business days prior to the SPTs determination date. 2021/11/24PDF - - Sales of new products manufactured using recycled plastic materials (trays that support parts at automobile plants) It is designed to look at the achievement of SPTs every year and reduce interest rates if they are achieved, or restore them if they are not.
GPSS Holdings Inc. JA Mitsui Leasing, Ltd. Japan Credit Rating Agency, Ltd. GPSS Holdings plans to regularly update and disclose its KPI and SPT performance in its annual sustainability report and on the GPSS Holdings sustainability page. It also plans to have its performance on SPT verified by an external third party. 2021/11/30PDF - - By 2030, achieve a cumulative greenhouse gas emissions avoidance of 720,000 tons (approximately 12 times the 2020 level). The financial characteristics of the arrangement change depending on whether the SPT is achieved or not.
RICOH LEASING COMPANY, LTD. Sumitomo Mitsui Trust Bank, Limited Japan Credit Rating Agency, Ltd. ●The following items will be disclosed at least once a year
・Updates on the performance of selected KPIs (including baseline assumptions)
・Information useful for lenders to gauge the level of ambition of SPTs

● Disclose the following information to the extent possible
・A qualitative and quantitative description of the main factors that contributed to the improvement in performance/KPIs (including M&A activities, etc.)
・Explanation of how improved performance will impact the borrower's sustainability
・Whether or not KPIs are reevaluated, whether or not established SPTs are revised, and whether or not baseline assumptions or the scope of KPIs are changed
2021/11/30PDF - - ・Reduce CO₂ emissions (on a gross basis, Scope 1 and 2) to below 773.8 t-CO₂ in FY2022, 728.4 t-CO₂ in FY2023, and 683.0 t-CO₂ in FY2024.

・Maintain a leadership level (A, A-) in the CDP climate change score.
The financial characteristics of the arrangement change depending on whether the SPT is achieved or not.
Fine Sinter Co., Ltd. THE SHIGA BANK,LTD. Rating & Investment Information, Inc. By the end of July each year, the results of KPI measurement for the period from April to March of the previous fiscal year will be notified to the arranger/agent, Shiga Bank, and all lenders. 2021/12/2PDF 5 years 0.5 billion yen Reduction rate of CO2 emissions
(40% reduction by 2025, 50% reduction by 2030 on a consolidated basis in Japan, compared to 2013)
Lending conditions vary depending on the SPT achieved.
NISSHA Mizuho Bank, Ltd.、The Bank of Kyoto, Ltd., MUFG Bank, Ltd. Rating & Investment Information, Inc. Report on the progress of SPT to lenders once a year.
With regard to CO2 emission data for Scope 1 and 2, which are KPIs, the figures will be reported in writing to the lenders and disclosed in the Sustainability Report posted on the website by the end of June each year.
2021/12/3Open in new tab or window - 10 billion yen Reduce CO2 emissions by 3% annually by the fiscal year ending December 31, 2025, compared to 2020 levels. It is designed to reduce the loan terms for subsequent interest calculation periods based on the achievement of the CO2 reduction rate at the end of each fiscal year at the end of December each year.
Imabari Yume Village
(今治.夢ビレッジ)
The Iyo Bank, Ltd.
Ehime Shinkin Bank
Japan Credit Rating Agency, Ltd. ●The following items will be disclosed at least once a year
・Updates on the performance of selected KPIs (including baseline assumptions)
・Information useful for lenders to gauge the level of ambition of SPTs

● Disclose the following information to the extent possible
・A qualitative and quantitative description of the main factors that contributed to the improvement in performance/KPIs (including M&A activities, etc.)
・Explanation of how improved performance will impact the borrower's sustainability
・Whether or not KPIs are reevaluated, whether or not established SPTs are revised, and whether or not baseline assumptions or the scope of KPIs are changed
2021/12/10PDF 20 years 1.4 billion yen SPT 1: Stadium attendance rate of 75.0% or higher
SPT 2: Promotion to J1 in the J-League category
SPT 3: Number of partners (sponsors): 450 or more
SPT 4: Number of paying members of FC IMABARI Sailors' Club (fan club): 5,000 or more
SPT 5: Number of participants in annual events (Earthland environmental education, outdoor training, soccer classes/schools, etc.): 10,000 or more
The financial characteristics of the arrangement change depending on whether the SPT is achieved or not.
YASUNARI Co.,LTD. THE YAMAGUCHI BANK, LTD. Rating & Investment Information, Inc. ・YASUNARI Co.,LTD. will submit to THE YAMAGUCHI BANK, LTD. a document confirming the performance of KPIs for the previous year by the end of October of each year.
・YASUNARI Co.,LTD. will disclose the numerical values on which the actual KPIs are based in "Environmental Activity Report" of the Eco Action 21 .
2021/12/15PDF 5 years 0.2 billion yen (1) Reduce carbon dioxide emissions from business activities to 440.0 t-CO2 or less by 2023.
(2) Achieve 60% or more of the OM solar system installation rate (three-year moving average) in 2023.
If any or all SPTs are satisfied on the SPTs judgment date (end of December 2023), specified interest rate incentives are applied according to the sufficiency of SPTs after December 30, 2024.
MASH Holdings Co.,Ltd. Mizuho Bank, Ltd. Rating & Investment Information, Inc. MASH Holdings Co.,Ltd. will disclose the progress of the SPT to Mizuho Bank, Ltd. once a year. 2021/12/17PDF 3 years 0.3 billion yen Obtaining the Platinum Eruboshi certification

※the Platinum Eruboshi certification is granted to companies that have received Eruboshi certification (A certification system under which the Ministry of Health, Labor and Welfare certifies companies that meet certain standards and have excellent conditions for promoting the activities of women, based on the Law Concerning the Advancement of Women in Employment.), and meet certain requirements, such as achieving the goals of the general business owner's action plan and implementing initiatives to promote women's activities.
During the loan period, incentives are provided to change interest rate conditions in accordance with the progress of the phased initiative to obtain Eruboshi certification.
Ichigo Inc. Mizuho Bank, Ltd. Rating & Investment Information, Inc. As a commitment in the loan agreement, the agent and all lenders through the agent will be provided with materials showing the achievement of the SPT as verified by a third party in the immediately preceding period by the SPT reporting deadline.
KPIs and targets will also be disclosed on Ichigo's webpage.
2021/12/17PDF 10 years 9 billion yen Make 100% renewable energy consumed by business activities by 2025 Give incentives to change interest rate conditions according to the achievement of SPT
Mizuho Bank, Ltd.
Asahi Shinkin Bank
THE SHIGA BANK, LTD.
THE SHIZUOKA BANK, LTD.
Hiroshima Bank, Ltd.
The Fukuho Bank, Ltd.
7 years 4 billion yen
Tokyo Century Corporation MUFG Bank, Ltd. Rating & Investment Information, Inc. ・Tokyo Century Corporation will submit to all lenders, through its loan agent, MUFG Bank, Ltd., a document that confirms JCM's assumed (cumulative) contribution to GHG reduction, as well as the rate of annual paid leave and the rate of male employees taking parental leave.
・In addition, Tokyo Century Corporation will disclose the results of KPIs in its annual Sustainability Data Book and other publications.
2021/12/22PDF 4 years 58 billion yen (1) Achieve the assumed GHG reduction contribution (cumulative) target of 49,000 tons under the bilateral credit system (JCM) by the end of December 2023.
(2) Maintain an annual paid leave acquisition rate of 70% or more for the employees
(3) Maintain 100% male childcare leave acquisition rate for the employees
If all SPTs are satisfied on the SPTs sufficiency judgment date (end of May 2024), the designated interest rate incentive will be applied for each interest calculation period starting on or after June 27, 2024. The applicable conditions are linked to the judgment results of SPTs and function as an economic incentive for Tokyo Century.
Ryutsu
(リューツー)
North Pacific Bank,Ltd. Rating & Investment Information, Inc. Once a year, lenders are required to report the progress of the SPT, and the figures for the KPI of employment of foreign employees are reported to the lenders in writing. 2021/12/22PDF - - Aim to improve the ratio of foreign employees by the fiscal year ending December 2030 If the SPT is achieved, the loan terms are designed to reduce the interest rate for the next year from the business day following the contracted repayment date, which arrives six months after the closing date, to the initial applicable interest rate x 0.9.
TAISEI CORPORATION Development Bank of Japan Inc. - TAISEI CORPORATION will report annually to DBJ the latest information on the progress and achievement of SPT performance.

In addition, information on the achievement of SPT and information on third-party verification will be disclosed to the public on a regular basis through the website and integrated reports.
2021/12/24Open in new tab or window 5 years - Operation stage: Increase the CO2 forecast emission reduction rate for design and construction projects to 43% in FY2023 (compared to FY1990) Loan agreements and memorandums stipulate the linkage between SPT achievement status and lending conditions, etc.
  • As of January 10, 2022
  • * This database is not screened by the Ministry of the Environment and is compiled based on the labeling declared by issuers and financial institutions.