To realize the goals outlined in The Long-Term Vision SHIMZ VISION 2030—a resilient society where everyone can feel safe and secure; an inclusive society where all people can live together in comfort and health; and a sustainable society where future generations can inherit a well-cared for environment—our Group has developed Smart Innovation Ecosystem NOVARE, a hub for innovation and human resource development. Full-scale integrated operation of the facility began in March 2024. NOVARE consists of five facilities: NOVARE Hub, the core of the site; NOVARE Lab, a research facility focused on production innovation; NOVARE Academy (Monozukuri Shiseijuku), a hands-on training facility; Shimizu Corporation NOVARE Archives, an exhibition facility for historical materials; and the Former Shibusawa Residence, designed and built by Kisuke Shimizu II, the second head of the founding family. Just as a forest in nature forms an ecosystem that fosters the circulation of plants, animals, soil, water, and air, each facility within NOVARE operates independently while working in harmony with the others. Together, they aim to create a space that nurtures a spirit of innovation grounded in the fundamentals of monozukuri (craftsmanship), and serves as a hub where knowledge from Japan and around the world comes together to generate new innovations.
Through the issuance and use of this green bond, we aim to demonstrate our sustainability-driven business approach and initiatives to a wide range of stakeholders. Going forward, we remain committed to contributing to the realization of a sustainable future society where people can experience richness and well-being.
For details on the Framework underlying this issuance, please refer to the information below.
・Shimizu Corporation Sustainability Bond Framework
Overview of Green Bond
| Name | Shimizu Corporation 35th Unsecured Straight Bond (with pari passu clause among bonds) (Green Bond) |
|---|---|
| Pricing date | July 12, 2024 |
| Issue date | July 19, 2024 |
| Total issue amount | ¥11,000 million |
| Term of issuance | 5 years |
| Interest rate | 0.858％ |
| Use of funds | The full amount is scheduled to be allocated to refinance construction funding for a facility within Smart Innovation Ecosystem NOVARE, a property owned by the Company, that has obtained green building certification (Nearly ZEB). |
| Lead manager | Nomura Securities Co., Ltd. |
| Credit rating obtained | A+ by Rating and Investment Information, Inc. (R&I) |
Third-party evaluation of eligibility
In January 2023, we established our Sustainability Bond Framework and obtained a second-party opinion from Rating and Investment Information, Inc. (R&I) confirming its alignment with the Green Bond Principles 2021, Social Bond Principles 2021, and Sustainability Bond Guidelines 2021 issued by the International Capital Market Association (ICMA), as well as the Green Bond Guidelines 2022 Edition issued by the Ministry of the Environment, Japan, and the Social Bond Guidelines 2021 Edition issued by the Financial Services Agency. In conjunction with the formulation of the Mid-Term Business Plan (2024–2026), the Framework was partially revised in June 2024.
R&I Second-Party Opinion: An opinion issued by R&I evaluating that the green bond framework established by a company or other entity complies with relevant guidelines, such as the Green Bond Guidelines.
For details, please refer to the R&I website(PDF:3,540kB)
Investment statements regarding this green bond
We are pleased to introduce the investors who have made investment statements regarding this green bond
(as of the pricing date)
＜List of Investors Making Investment Statements＞（in alphabetical order）
- Asset Management One Co., Ltd.
- Hyogo Shinkin Bank
- Kyoto Chuo Shinkin Bank
- Nissay Asset Management Corporation
- O-Tec Co., Ltd.
- The Kanagawa Bank, Ltd.
Reporting
Status of use of proceeds
The full 11,000 million yen raised was allocated to refinance construction funding for Smart Innovation Ecosystem NOVARE (Shiomi Innovation Center [tentative name]), a Company-owned facility.
Refer to the following for an overview of Smart Innovation Ecosystem NOVARE:
https://www.shimz.co.jp/novare/
Environmental improvement and social effects
| ＜Green＞ Green Building | |
|---|---|
| Output Outcome Impact |
・Building overview and level of green building certification obtained →BELS 5 stars (highest rank) “ZEB” (Hub / NOVARE Hub), Nearly ZEB (Lab / NOVARE Lab, Academy / NOVARE Academy Monozukuri Shiseijuku, Archives / Shimizu Corporation NOVARE Archives) |
| ・Electricity consumption reduction →*2,012,700 kWh/year |
|
| ・Gas consumption reduction →*Included in primary energy consumption reduction |
|
| ・Primary energy consumption reduction →*10,900GJ/year |
|
| ・CO2 emissions reduction →*800 t-CO2/year |
|
*・Figures are calculated based on data published by the Energy Conservation Center, Japan,
and actual results from April 2024 to March 2025.
・The following coefficients were used in calculating each reduction amount.
Primary energy conversion factors: Electricity：9.76 MJ/year,Gas: 45 MJ/Nm3、
CO2 emission factors: Electricity：0.000422 t-CO2/kWh、Gas：2.05 t-CO2/1,000m3
・The reduction effects include the use of green power certificates and externally sourced green hydrogen.
・As some of the implemented technologies are still being adjusted, further reduction effects are expected in the future.
| ＜Social＞ Affordable basic infrastructure (disaster prevention and mitigation measures) | |
|---|---|
| Output | ・Overview of facilities and investments related to disaster prevention and mitigation →Seismic performance equivalent to that of an evacuation shelter has been achieved for the entire facility through standard seismic design methods. Emergency supply storage areas have been installed throughout the Hub. As part of our community contribution efforts, the facility will be made available as a temporary evacuation site in Koto-ku during tsunamis or storm surges. An AI-equipped automatic fire suppression system has been installed in the Former Shibusawa Residence, a cultural property designated by Koto-ku. |
| Outcome | ・Seismic performance →Seismic Grade II (1.25 times the required lateral load-bearing capacity) ・Main stockpiles of emergency supplies →Food: 1,500 meals, including 3-day emergency supply kits Drinking water: 6,000 plastic bottles (500 ml each) Blankets: 500 aluminum thermal blankets for emergency stockpile Masks: 24,000 non-woven fabric masks Toilets: 400 emergency toilet kits for stockpiling ・Temporary evacuation capacity during tsunamis or storm surges (3rd floor hall of the Hub) →Maximum capacity of 240 people |
| Impact | ・Realization of a disaster-resilient society →The facility is equipped with evacuation shelter-level functions in the event of a disaster, including seismic performance and stockpiled emergency supplies. |
| ＜Social＞ Socioeconomic advancement and empowerment (promotion of barrier-free accessibility) | |
|---|---|
| Output | ・Overview of barrier-free facilities →All five buildings are fully equipped with accessible restrooms and elevators for persons with disabilities, accommodating wheelchair users and individuals with visual impairments. All five buildings are fully equipped with all-gender restrooms. Separate prayer rooms for men and women are installed in the Hub. All signage within the facility is provided in both Japanese and English. |
| Outcome | ・Usage status by applicable users →The facilities are being used by persons with disabilities, foreign nationals, and other applicable users. |
| Impact | ・Provision of facilities and equipment accessible to all →A variety of barrier-free features have been implemented to accommodate persons with disabilities, foreign nationals, and individuals of diverse gender identities. |
Information is current as of June 2025.
