For the EnvironmentTokyo Century Green Bond

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Tokyo Century has issued an unsecured green bond in public offering.
Green bonds refer to bonds issued by companies, local governments, or other organizations to raise funds for green projects that aim to resolve environmental issues, including projects for: renewable energy; construction and refurbishment of energy efficient buildings; pollution prevention and control; and others.
Tokyo Century is committed to take initiatives on global environment conservation and renewable energy to create an environmentally-sound, sustainable economy and society while promoting to diversify financing method through the green bond issuance.

The Outline of Green Bond

Bond name "Tokyo Century Green Bond", Tokyo Century Corporation 25th series of unsecured bonds (with Inter‐Bond Pari Passu Clause)
Pricing date October 5, 2018
Issue date October 15, 2018
Redemption period 5 years
Issue amount JPY10,000 million
Coupon rate 0.200%
Use of proceeds Leasing solar power generation facilities for Tokyo Century's subsidiary, Kyocera TCL Solar LLC
(Refinancing the purchase of existing leased facilities)
Credit rating A  Rating and Investment Information, Inc. (R&I)
A+ Japan Credit Rating Agency, Ltd. (JCR)

Eligibility Review by External Organization

R&I Green Bond Assessment

The Tokyo Century Green Bond has been assigned GA1 (preliminary), the highest rating in the R&I Green Bond Assessment conducted by Rating and Investment Information, Inc. (R&I). R&I has also provided a second opinion as external review that the green bond framework is aligned with Green Bond Principles 2018 and Green Bond Guidelines 2017.

R&I Green Bond Assessment(Formal)

Financial Support Programme for Green Bond Issuance (Subsidy Project) Undertaken by the Ministry of the Environment (MOE)

The expenses for the external review for this green bond is eligible for the Financial Support Programme for Green Bond Issuance (Subsidy Project) in fiscal 2018 undertaken by the MOE.

Financial Support Programme for Green Bond Issuance (Subsidy Project) by MOE

List of Notification of Decisions to Grant the Subsidy by MOE

Investors of Tokyo Century Green Bond

Investors who have committed investment in the Tokyo Century Green Bond are listed as follows.

<List of Investors>(in alphabetical order)

As of October 15, 2018

  • BlackRock Japan Co., Ltd.
  • The Oita Bank Co., Ltd.
  • Saitama Medical University
  • Sumitomo Mitsui Trust Asset Management Co., Ltd.
  • The Higashi-Nippon Bank, Limited
  • The Rokinren Bank
  • The Sugamo Shinkin Bank
  • Tokio Marine Asset Management Co., Ltd.
  • Tokyo University of Agriculture Educational Corporation

Reporting

1. Use of the Proceeds

Tokyo Century has allocated the entire proceeds of the Tokyo Century Green Bond, Tokyo Century Corporation 25th series of unsecured bonds (with Inter‐Bond Pari Passu Clause) issued on October 15, 2018 to refinancing the fund to purchase the leased assets for the eligible project.

<Representative Power Plants>

Chiba Yamakura Floating Solar Power Plant

Tottori Yonago Solar Power Plant

Miyagi Kurokawa Solar Power Plant

2. Environmental Impact Reporting

Kyocera TCL Solar LLC has been operating and managing solar power plants in 67 sites across Japan with approximately 258.1 MW of total output as of August 31, 2018, achieving the annual electricity generated for the period from April 2017 to March 2018 of 149,681MWh reducing CO2 emissions by 47,075 tons.

* Estimated by Tokyo Century Corporation in reference to Japan Photovoltaic Energy Association ”The standards of CO2 emissions reduction”

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