Sustainability Bond (31st Series of Unsecured Straight Bonds)

Sustainability Bond with Shimizu

The Shimizu group engages in a broad range of business activities aimed at realizing the goals stated in SHIMZ VISION 2030 of realizing 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. In the spring of 2022, we are planning to open MiCHi no Terrace, selected as a smart city leading model project by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), as one means of achieving our vision, and decided to issue sustainability bonds to provide the funds for construction of this project.
In MiCHi no Terrace, we are striving to create a comfortable, vital town that offers a high quality of life by equipping an environmentally friendly building with DX-Core, a building operating system that functions as a data platform. We intend to use the results achieved with this in urban renewal and regional revitalization projects nationwide.
The issuance and use of these sustainability bonds shows our wide range of stakeholders our business stance and initiatives based on ESG management. This will also contribute to the realization of a future society where people can experience a sense of abundance and joy.

Overview of Sustainability Bond

Name SHIMIZU CORPORATION Unsecured Straight Bonds No. 31
(SHIMIZU CORPORATION Sustainability Bond) (with an inter-bond pari passu clause)
Terms set date December 10, 2021
Issue date December 16, 2021
Issue amount 10 billion yen
Term to maturity 5 years
Interest rate 0.100%
Proceeds used for The total proceeds were used to provide construction funds for MEBKS TOYOSU and the transportation plaza deck (Toyosu MiCHi no Eki), built in Toyosu, Koto-ku, Tokyo, and to cover refinancing of the data platform and service application configuration costs.
Lead manager Mizuho Securities Co., Ltd.
Rating A+, Rating and Investment Information, Inc.(R&I)

Third-party Evaluation of Appropriateness

In issuing the sustainability bonds, Shimizu obtained a second opinion from Rating and Investment Information, Inc. (hereafter, R&I) on compliance with Social Bond Principles 2021 (SBP 2021), Sustainability Bond Guidelines 2021, and Green Bond Principles 2021 (GBP 2021) published by the International Capital Market Association (ICMA); Green Bond Guidelines 2020 from the Ministry of the Environment; and the Social Bond Guidelines 2021 from the Financial Services Agency.

Second opinion by R&I: An opinion from R&I evaluating compliance of the Sustainability Bond Framework specified by companies and other institutions with the Sustainability Bond Guidelines, and other criteria.
If there is supposed to be a link here, it can be preceded with “For further details, see R&I ESG-Related Services.

Investment Statement on These Sustainability Bonds

We will introduce these green bonds to the following investors who have declared their intent to invest in these sustainability bonds.

List of investors who have announced investment (Japanese alphabetic order)

  • Shinkin Central Bank
  • DaitokyoShinkumi Credit Cooperative
  • The Chikuho Bank, Ltd.
  • The Toa Reinsurance Company, Limited
  • Nissay Asset Management Corporation
  • Japan Earthquake Reinsurance Co., Ltd.
  • The Miyazaki Taiyo Bank, Ltd.


Allocation of Proceeds

Total proceeds, 10 billion yen were used to provide construction funds for MEBKS TOYOSU and the transportation plaza deck (Toyosu MiCHi no Eki), built in Toyosu, Koto-ku, Tokyo, and to cover refinancing of the data platform and service application configuration costs.

Overview of Project to Which Proceeds Were Allocated

<MEBKS Toyosu>

Site area Approx. 16,110 m2
Total Floor area Approx. 88,174 m2
Purpose Offices, Stores, Parking lot, Transportation plaza, Deck
Structure/size Steel frame (seismic isolation structure), 12 above-ground with one rooftop structure
Design and build Shimizu Corporation
Construction period April 2019 - August 2021

<Transportation Plaza Deck (Toyosu MiCHi no Eki)>

Total Floor area Approx. 1,700 m2
Structure Steel frame
Design and build Shimizu Corporation
Construction period September 2020 - August 2021

〈Development of Data Platform and Service Applications〉

  • DX-Core Building OS preparation
  • API preparation (interface system to connect building to the cloud)
  • Data collection devices
  • Urban OS preparation and linking with data platform
  • Open innovation system services (service application development costs, etc.)

Environmental / Social Benefits

Social Implementation of MiCHi no Terrace Toyosu DX Platform (Building OS)
Outputs Overview of social implementation of DX platform (building OS)
・Installation of emergency communication signage
・Use of inclusive navigation system
・Link between building OS and urban OS, etc.
Outcomes Implementation of DX platform (building OS) related applications *Few examples
・Emergency communication signage installed at 10 locations on
2nd floor of office building (MEBKS Toyosu) and 1 location on
transportation plaza deck
・Inclusive navigation at Michi no Terrace Toyosu used 88 times
(Actual results from opening of MiCHi no Terrace Toyosu on April 15, 2022 to November 30, 2022)
・Link between building OS and urban OS
Smart City portal site shows usage status of universal restrooms installed on 1st and 2nd floors of office building (MEBKS Toyosu).
Impact We are realizing Toyosu Smart City through social implementation of our DX platform (building OS).
MiCHi no Terrace Toyosu Shelter Space for Stranded Commuters and Emergency Stockpiles (Food and Supplies)
Outputs Overview of shelter space for accepting stranded commuters:
Some areas on 1st floor and 2nd floor of MEBKS Toyosu
Overview of Storehouse of Emergency stockpiles:
Some areas on 2nd floor of MEBKS Toyosu
Outcomes Capacity for taking in stranded commuters:
200 people
Emergency stockpiles
・180 cases of water (6×2L bottles per box)
・44 boxes of Magic Rice (50 packages per box)
・36 boxes of emergency toilet bags (100 bags per box)
・240 blankets
Installation of emergency power supply for power outages:
One unit installed on roof of MEBKS Toyosu (2,000 KVA gas turbine system)
Impact It will function as a disaster prevention center in the event of a disaster.
MiCHi no Terrace Toyosu Transportation Plaza Deck (Toyosu MiCHi no Eki)
Outputs Overview of barrier-free pedestrian network / Transportation Plaza Deck (Toyosu MiCHi no Eki):
See above for a overview of the projects to which funds were allocated.
Outcomes Number of barrier-free facilities
Escalators: 2
Elevators: 2
The second floor of the Transportation Plaza Deck has a flat deck that extends horizontally, allowing barrier-free passage from Shijo-mae Station on the Yurikamome Line to the Harumi Canal.
The office building (MEBKS Toyosu) has a universal restroom on each floor.
Impact Various barrier-free facilities have been implemented out of consideration for people with disabilities.
MiCHi no Terrace Toyosu Office Building (MEBKS Toyosu)
Outputs Completion of office building:
August 2021
・ZEB Ready
・BELS 5 star (highest rank)
・CASBEE S rank
Outcomes Reduction of electricity consumption through use of energy-saving equipment in office building (actual result from December 2021 to November 2022):
4,897,182.4 kWh
Reduction of CO2emissions in office building (actual result from December 2021 to November 2022):
3,361,054.8 kg-CO2
Impact We contribute to the realization of a zero-carbon society through the construction of green buildings with high environmental performance.

*Unless otherwise indicated, the data is as of November 30, 2022.

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