Under its Environmental Vision, SHIMZ Beyond Zero 2050, the Company defines the sustainable society it seeks to achieve as a zero carbon society, a resource recycling society, and a society that coexists in harmony with nature, and sets forth its commitment to proactively providing positive environmental value to clients and society.
As part of its efforts to realize a zero carbon society, the Company constructed the self-elevating platform (SEP) vessel BLUE WIND, a work vessel required for the construction of offshore wind farms. The Company has now decided to issue a blue bond to refinance the vessel’s construction costs.
This issuance represents the first blue bond in Japan with an SEP vessel designated as the use of proceeds. Blue bonds, a category of green bonds aimed at addressing environmental issues, are issued based on the concept of a sustainable blue economy, which promotes sustainable economic activities while conserving marine environments and resources. BLUE WIND is considered a blue project because it enables offshore wind power generation by harnessing the strong, stable winds at sea.
In 2023, the Company used BLUE WIND to construct offshore wind farms off the coast of Nyuzen Town in Toyama Prefecture and at Ishikari Bay New Port in Hokkaido. The Company has also steadily built construction expertise through participation in three chartered projects in Taiwan. Through the issuance and use of this bond, the Company aims to demonstrate to a broad range of stakeholders its commitment and initiatives toward advancing sustainability management. Looking ahead, the Company will continue to leverage BLUE WIND's superior capabilities, strive to become a top performer in offshore wind farm construction, and contribute to the realization of a sustainable future society.
For details of the framework underpinning this issuance, please refer to the following.
Shimizu Corporation Blue Bond Framework (Only in Japanese) (PDF: 1.48MB)
Overview of Blue Bond
| Name | 38th Unsecured Straight Bond（Blue Bond） (with pari passu clause among bonds) (Blue Bond) |
|---|---|
| Pricing date | January 16, 2026 |
| Issue date | January 22, 2026 |
| Total issue amount | 20 billion yen |
| Term of issuance | Five years |
| Interest rate | 1.913％ |
| Use of funds | The full amount is planned to be used to refinance construction costs for the SEP vessel BLUE WIND |
| Lead manager | Nomura Securities Co., Ltd. |
| Credit rating obtained | A+ Rating and Investment Information, Inc. (R&I) |
Third-party evaluation of eligibility
In December 2025, the Company established its Blue Bond Framework and obtained a second-party opinion from Rating and Investment Information, Inc. (R&I) confirming that the framework complies with the ICMA Green Bond Principles 2025; Bonds to Finance the Sustainable Blue Economy – A Practitioner’s Guide (SBE Guide), jointly developed by the International Capital Market Association (ICMA), the International Finance Corporation (IFC), the United Nations Environment Programme Finance Initiative (UNEP FI), the United Nations Global Compact (UNGC), and the Asian Development Bank (ADB); and the Ministry of the Environment’s Green Bond Guidelines 2024 Edition.
R&I Second-Party Opinion : An opinion issued by R&I assessing whether green bonds and related frameworks established by companies and other entities comply with green bond-associated guidelines and standards.
R&I Second-Party Opinion (Only in Japanese) (PDF: 3.49MB)
Investment Statements Regarding This Sustainability Bond
Below is a list of investors that have expressed their intention to invest in this blue bond.
（As of the terms determination date）
＜List of investors expressing investment intentions＞（in Japanese alphabetical order）
- Iizuka Shinkin Bank
- The Bank of Iwate, Limited
- The Kofu Shinkin Bank
- The Juroku Bank, Ltd.
- Daitokyo Shinyokumiai
- The Takamatsu Shinkin Bank
- Tokio Marine Asset Management Co., Ltd.
- Tono Shinkin Bank
- Nagano Shinkin Bank
- Nissay Asset Management Corporation
- Japan Earthquake Reinsurance Co., Ltd.
- Hagiyamaguchi Shinkin Bank
- The Mishima Shinkin Bank
- Mitsui Sumitomo Insurance Company, Limited
- Sumitomo Mitsui DS Asset Management Company, Limited
