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NYK Received a Second-party Opinion and MOEJ's confirmation

May 8, 2018

On April 17, NYK announced that it would soon be issuing green bonds, and the company has now received a second-party opinion and been verified that the green bonds will be issued in accordance with the Green Bond Guidelines* issued by the Ministry of the Environment, Japan (MOEJ).

- Background
A green bond is one in which the proceeds are used solely for the purpose of funding environment-friendly projects. In May, NYK will be the world’s first global shipping company to issue green bonds, which will expand the company’s resources for the procurement of funds, as well as keep a wide range of stakeholders involved in the company’s proactive approach to environmental investment.

- Second-party opinion
On May 7, NYK received a second-party opinion from Vigeo Eiris based in France, one of the world's leading ESG evaluation institutions, to ensure NYK's credibility and transparency in terms of social responsibility policies and practices in the issuance of the green bonds and thus attract investors.
Second-party opinion: http://www.nyk.com/english/news/2018/1190554_1687.html

- Conformity check by the MOEJ
NYK's green bonds have been given approval by the MOEJ as "a model case for green bond issuance in fiscal 2018." NYK is the first Japanese industrial corporation to receive this approval, which was confirmed today by the MOEJ and its contractors, E&E Solutions Inc. and Japan Credit Rating Agency Ltd., to be aligned with the Green Bond Guidelines.*
MOEJ’s website: http://www.env.go.jp/en/policy/economy/gb/guidelines.html

In accordance with the new medium-term management plan “Staying Ahead 2022 with Digitalization and Green” announced in March, NYK aims to integrate environmental, social, and governance (ESG) principles into management strategies to contribute to the sustainable development of society and enrichment of the company’s corporate value.

* Green Bond Guidelines
The Guidelines, in accordance with the Green Bond Principles, which are widely accepted in international Green Bond markets, provide issuers, investors, and other market participants with illustrative examples of specific approaches and interpretations tailored to Japan’s bond market to aid with decision- making regarding Green Bonds for spurring Green Bond issuances and investments in Japan. It was established and published by MOEJ in March 2017.

- Reference
Announcement on April 17, 2018, “NYK to Issue Green Bonds,”
http://www.nyk.com/english/news/2018/1190457_1687.html

This press release has been prepared for the sole purpose of publicly announcing the Company’s issuance of the Bonds, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan.

 

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