Green Finance
Green Finance
The Investment Corporation aims to strengthen the funding platform by expanding the ESG investor base, along with promoting sustainability initiatives, by procuring funds through the Green Finance.
Green Finance Framework
Use of Funds
Procured funds through the Green Finance will be used for the acquisition of eligible green assets and renovation work that meet the following eligibility criteria, as well as for the repayment and redemption of loans or investment corporation bonds.
Eligibility Criteria
Eligible green assets refer to buildings that meet either Eligibility Criteria 1 or 2.
■Eligibility Criteria-1
Assets that have achieved or will achieve any following certification
- ①CASBEE Certification （Note1）
- Rank B+, A, or S
- ②BELS Evaluation （FY2016 standard）
- 3 stars, 4 stars or 5 stars （Note2）
- ③BELS Evaluation (FY2024 standard）
- ・Non-residential：Level 4, level 5 or level 6 (Note3）
・Residences with renewable energy facilities: Level 3, level 4, level 5 or level 6（Note4）
・Residences without renewable energy facilities：Level 3 or level 4 （Note4） - ④DBJ Green Building Certification
- 3 stars, 4 stars or 5 stars
- ⑤LEED Certification （Note5）
- Silver, Gold or Platinum
| （Note1） | For the municipal version of CASBEE, only within 3 years from the date of completion of construction. |
|---|---|
| （Note2） | Excluding logistics facilities which exceed BEI＝0.75. |
| （Note3） | New acquisitions of existing buildings built before 2016 must be at least Level 3, excluding logistics facilities which exceed BEI＝0.75. |
| （Note4） | New acquisitions of existing buildings built before 2016 shall qualify at Level 2 or higher, regardless of the use of renewable energy. |
| （Note5） | For LEED BD+C, v4 or later. |
■Eligibility Criteria-2
Renovation work that meets any of the following ① to ③
①Renovation work intending to improve the number of stars or the rank by one or more for any Green Eligibility Criteria-1 (green building) certification.
②Renovation work under management with the objective to enhance energy efficiency, reduce water usage, and any other environmental improvements. (expected to reduce consumption or emissions by 30% or more compared to previous levels)
③Installation or acquisition of equipment related to renewable energy.
Process for evaluation and selection of projects
Eligible projects for the use of green finance proceeds are selected by the Corporate Planning Department of the Asset Management Company. Conformity with the eligibility criteria is reviewed and confirmed at the Sustainability Promotion Committee attended by the Chief Sustainability Officer, the Executive Sustainability Officer, Full-time Directors, the Head of the Asset Management Department and the Compliance Officer.
Subsequently, the board of directors, etc. resolves the appropriation of funds procured through Green Finance in accordance with the rules of the Investment Corporation and the Asset Management Company.
Management of procured funds
The amount calculated by multiplying the total acquisition price of owned properties that meets Green Eligibility Criteria-1 by LTV (Loan to Value/interest-bearing debt ratio) of total assets as of the end of the most recent fiscal period, and the total amount of renovation works that meet Green Eligibility Criteria-2, as the amount is set as the "upper limit of Green Finance", and the balance of green finance is managed so that it does not exceed the upper limit.
As of August 31, 2026
| The total acquisition price of owned properties that meets Green Eligibility Criteria-1 （A) | 38,800 million yen |
|---|---|
| LTV（B) | 44.7% |
| The total amount of renovation works that meet Green Eligibility Criteria-2（C) | ― |
| The upper limit of Green Finance（A×B+C） | 17,343 million yen |
| Balance of procured funds through the Green Finance | 8,864 million yen |
Reporting
The following table shows the status of the Investment Corporation's appropriation of funds related to green finance.
■Reporting on funding status
As of August 31, 2026
| Balance of procured funds （million yen） |
Unappropriated funds （million yen） |
|
|---|---|---|
| Green Loans | 7,864 | ― |
| Green Bonds | 1,000 | ― |
| Total amount | 8,864 | ― |
・Green Loans Appropriation Status
As of August 31, 2026
| Lender | Borrowing Amount （million yen） |
Appropriation （million yen） |
Drawdown Date |
Maturity Date |
Remarks | Use of funds |
|---|---|---|---|---|---|---|
| The Bank of Fukuoka, Ltd. Resona Bank, Limited The Hiroshima Bank, Ltd. The Chiba Bank, Ltd. |
780 | 780 | Jan. 31, 2024 | End of Jan. 2027 | Unsecured Non-guaranteed |
An asset that meets Eligibility Criteria |
| Mizuho Bank, Ltd. Resona Bank, Limited SBI Shinsei Bank, Limited |
300 | 300 | Jan. 31, 2025 | End of Jan. 2027 | Unsecured Non-guaranteed |
An asset that meets Eligibility Criteria |
| Mizuho Bank, Ltd. Sumitomo Mitsui Banking Corporation MUFG Bank, Ltd. The Nishi-Nippon City Bank, Ltd. The Bank of Fukuoka, Ltd. Resona Bank, Limited SBI Shinsei Bank, Limited |
1,664 | 1,664 | Jan. 31, 2024 | End of Jan. 2028 | Unsecured Non-guaranteed |
An asset that meets Eligibility Criteria |
| Mizuho Bank, Ltd. Sumitomo Mitsui Banking Corporation The Nishi-Nippon City Bank, Ltd. The Bank of Fukuoka, Ltd. Resona Bank, Limited |
932 | 932 | Jan. 31, 2024 | End of Jan. 2029 | Unsecured Non-guaranteed |
An asset that meets Eligibility Criteria |
| Mizuho Bank, Ltd. Sumitomo Mitsui Banking Corporation The Nishi-Nippon City Bank, Ltd. The Chiba Bank, Ltd. Mizuho Trust & Banking Co., Ltd. |
1,300 | 1,300 | Jan. 31, 2025 | End of Jan. 2029 | Unsecured Non-guaranteed |
An asset that meets Eligibility Criteria |
| Mizuho Bank, Ltd. Sumitomo Mitsui Banking Corporation MUFG Bank, Ltd. The Nishi-Nippon City Bank, Ltd. Resona Bank, Limited The Hiroshima Bank, Ltd. SBI Shinsei Bank, Limited Aozora Bank, Ltd. The Higo Bank, Ltd. |
2,888 | 2,888 | Jan. 31, 2025 | End of Jan. 2030 | Unsecured Non-guaranteed |
An asset that meets Eligibility Criteria |
・Green Bonds Appropriation Status
As of August 31, 2026
| Name of Green Bonds | Amount of Issue （million yen） |
Appropriation （million yen） |
Issuance Date |
Maturity Date |
Remarks | Use of funds |
|---|---|---|---|---|---|---|
| 1st Series Unsecured Bonds (with pari passu conditions among specified investment corporation bonds) |
1,000 | 1,000 | January 31, 2024 | End of Jan. 2029 | Unsecured Non-guaranteed |
Hotel Vista Sendai |
■Impact reporting
・List of eligible green assets
Eligibility Criteria-1
For property status that meet Green Eligibility Criteria-1, see "External Certifications and Ratings".
Eligibility Criteria-2
There are no renovation works that meets Eligibility Criteria-2.
| Property no. | Property name / Renovation name | Renovation Completion Date |
Renovation costs （million yen） |
|---|---|---|---|
| Total |
・Environmental Data
Please refer to the "Environment Initiatives"
Data for all properties owned by the Investment Corporation, including data for eligible green assets, are disclosed in our web site.
Third-party evaluation
As a third-party evaluation of the Framework, the Investment Corporation has been assigned “Green 1 (F)”, the highest evaluation grade in the JCR Green Finance Framework Evaluation by Japan Credit Rating Agency, Ltd. (“JCR”).
For details of the Green Finance Framework Evaluation, please refer to the following website.
JCR Green Finance Framework Evaluation : https://www.jcr.co.jp/en/greenfinance/green/