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IWATANI CORPORATION

(8088)
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Delayed Japan Exchange  -  05/20 02:00:00 am EDT
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Notice of Issuance of Green Bonds

11/10/2021 | 12:55am EDT

Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

November 10, 2021

To whom may it concern :

Company name: IWATANI CORPORATION

Representative: Hiroshi Majima President

Code number: 8088

Contact: Tetsuo Matsuo General Manager Accounting Dept.

Notice of Issuance of Green Bonds

Iwatani Corporation today, November 10, submitted a shelf registration statement to the Director-General of the Kanto Local Finance Bureau in preparation for its planned issuance of Green Bonds in domestic markets. The Green Bonds are designed to raise funds for exclusive use in business which improves environmental impacts.

This is the inaugural Green Bonds in Japan issued for funding construction of hydrogen refueling stations.

1. Background and purpose of issuing Green Bonds

Since 1941, Iwatani has been recognizing hydrogen as the ultimate clean source of energy, and have consistently engaged in initiatives to encourage the widespread use of hydrogen energy. Under the corporate slogan, released in 1970 at the 40th anniversary of our founding, "Creation of a more comfortable space on the Earth is what Iwatani wishes and strives for," we aim to solve the social issue of environmental concerns by creating a carbon free society enabled by the use of hydrogen.

One of the specific engagements by Iwatani is the development of hydrogen refueling stations throughout Japan, as supply infrastructure to support the utilization of hydrogen as a fuel, with its aim of creating a hydrogen energy-based society, as represented by the widespread adoption of Fuel Cell Vehicles (FCVs), at an early stage. After we opened the first commercial hydrogen refueling station in Japan in July 2014, in 2019 we opened Iwatani Hydrogen Refueling Station in Osaka International Airport, in 2020 we opened Iwatani Hydrogen Refueling Station in Tokyo Kasai and Iwatani Hydrogen Refueling Station in Tokyo International Airport, and in August

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2021 we opened seven hydrogen refueling stations such as Iwatani Hydrogen Refueling Station in Sendai Airport. We are also developing hydrogen refueling stations in Hamura-city in Tokyo, and Wakayama-city. After deploying all planned hydrogen refueling stations, the total number of stations will become 53. In 2019, we also began operation of four hydrogen refueling stations in the United States. Iwatani is planning to open hydrogen refueling stations at 83 locations in Japan and 23 locations in the United States by the end of FY 2023.

We believe that construction of hydrogen fueling stations with Green Bond proceeds will create the demand for hydrogen energy and forward the transition to a carbon free society.

2. Outline of Green Bonds

We will issue following two bonds, total amount to be 10 billion yen.

Bond name

Iwatani Corporation 1st

Iwatani Corporation 2nd

Series Unsecured Corporate

Series Unsecured Corporate

Bond (with Special Limited

Bond (with Special Limited

Inter-bond Pari Passu

Inter-bond Pari Passu

Clause) (Green Bond)

Clause) (Green Bond)

Redemption

7 years

10 years

period

Amount of

5 billion yen

5 billion yen

issuance

Issue date

December 2021 to January 2022

scheduled

Use of proceeds

Proceeds will be used for investment and refinance existing

investments related to hydrogen supply facility development

and construction for fueling low-carbon transport which is

equipped with fuel cell, including FCV, truck, bus, forklift.

Lead managers

Mitsubishi UFJ Morgan

Nomura Securities Co., Ltd.

Stanley Securities Co., Ltd.

Green Bond

Mitsubishi UFJ Morgan

Nomura Securities Co., Ltd.

structuring agent

Stanley Securities Co., Ltd.

(※1) structuring agent

This organization supports the issuance of green bonds by giving advice regarding the formulation of green bond frameworks and on obtaining second party opinion.

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3. Green Bond Framework and external reviews

For the issuance of the Green Bond, Iwatani Corporation Green Bond Framework is designed in align with the ICMA Green Bond Principle 2021's four core components which are: Use of Proceeds, Process for Project Evaluation and Selection, Management of Proceeds, and Reporting. With respect to evaluation of the Green Bond Framework's suitability, the Company has received Second Party Opinion (SPO) from Sustainalytics, a third-party institution, attesting to the Green Bond Framework's conformity with ICMA's "Green Bond Principles 2021" and the "Green Bond Guidelines" (2020 edition) issued by the Japanese Ministry of the Environment.

Sustainalytics that provided a third-party evaluation of this Green Bond is eligible for the subsidy from the Ministry of the Environment's FY2021 financial support programme for Green Bond Issuance.

(2) Sustainalytics

Sustainalytics, a Morningstar Company, is a leading ESG research, ratings and data firm. The firm works with the world's leading investors with the development and implementation of responsible investment strategies. The world's foremost issuers also rely on Sustainalytics for credible second-party opinions on green, social and sustainability bond frameworks.

(3Second Party Opinion

For more information, visit the website provided by Sustainalytics. https://mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com/docs/default- source/spos/iwatani-corporation-green-bond-framework-second-party-opinionfae72372- 3115-4b50-b2f6-3cdcc26171fe.pdf?sfvrsn=f5688c13_1

4. Rating

We acquired rating by Japan Credit Rating Agency, Ltd. (JCR) to issue our first corporate bond in the market.

Details of acquired rating

Rating Agency

Issue

Rating

Outlook

JCR

Long-term issuer

A

Stable

rating

Inquire at JCR's web site about details. https://www.jcr.co.jp/en/

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Iwatani Corporation Green Bond Framework

November 2021

1. Introduction

Since its foundation in 1930, Iwatani Corporation (hereafter "Iwatani") has provided wide range of products and services such as energy, industrial gas, materials, and foods for our lives and industries, based on its corporate philosophy, "Become a person needed by society, as those needed by society can prosper. "What underlies this is our wish to contribute to society by creating new value needed by society for the future. This is the major driving force for our business.

2. Initiatives for Reduction of Environmental Impact

Since 1941, we have regarded hydrogen as the ultimate clean source of energy, and have consistently engaged in initiatives to encourage the widespread use of hydrogen energy. Under the corporate slogan, released in 1970 at the 40th anniversary of our founding, "Creation of a more comfortable space on the Earth is what Iwatani wishes and strives for," we aim to solve the social issue of environmental concerns by creating a carbon free society enabled by the use of hydrogen.

With the aim of creating a hydrogen energy-based society at an early stage, we are engaging in activities that promote the use of hydrogen globally, through our participation as co-representative member of "Japan Hydrogen Association," also, through our participation as steering member of "the Hydrogen Council", a global initiative of energy- related companies,.

To stimulate new demand of hydrogen, we are developing hydrogen refueling stations with the aim of the widespread distribution of Fuel Cell Vehicles (FCVs). We are also expanding the development of hydrogen refueling stations into California in the United States, where the distribution of FCVs is ahead of any other region, with a view toward the future manufacturing of liquid hydrogen in California.

Regarding carbon-free hydrogen, we are involved in a project for the transportation and storage of large quantities of liquid hydrogen from Australia, and a green hydrogen production project of "the Fukushima Plan for a New Energy Society," using power generated by renewable energy. We also participate in the project for commercialize liquid green hydrogen production with electrical generating company and iron ore production company in Australia, respectively. In Japan, we also have started the validation for the implementation of hydrogen production business, such as the liquid hydrogen production

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from brown coal in Hokkaido, with the aim of building hydrogen energy-based society.

< Japan Hydrogen Association >

We, as one of three co-representative members, established "Japan Hydrogen Association" with 88 private companies in 2020. In August 2021, the number of the association reached

253. With the members, we will promote the creation of hydrogen supply chains and global collaboration in the field of hydrogen energy, for creating demand and expanding hydrogen market with cross industry collaboration.

< Hydrogen Council>

The Hydrogen Council is composed of 129* leading global companies from the energy, transportation and manufacturing industries. It aims to achieve shared goals by formulating recommended strategies for hydrogen use and effective action plans in cooperation with policymakers, hydrogen users (usually business enterprises), international organizations and citizens' groups in various countries. As a member of the Hydrogen Council, Iwatani also shares a global vision for hydrogen, and is investing its energies into expanding the use of hydrogen in Japan. * As of September, 2021

JHyM was established in 2018 for the operation of hydrogen refueling stations aimed primarily at FCVs (Fuel Cell Vehicles), and to encourage the widespread adoption of FCVs. Currently, a total of 26* Japanese companies including Iwatani-along with various automotive, energy and finance related companies-have participated in the initiative. Iwatani is addressing the construction and operation of hydrogen refueling stations as well as the standardization of equipment and systems in a bid to help increase and enhance hydrogen refueling stations. *As of September, 2021

Iwatani is engaged in the development of hydrogen refueling stations throughout Japan, as supply infrastructure to support the utilization of hydrogen as a fuel, with the aim of creating a hydrogen energy-based society, as represented by the widespread adoption of Fuel Cell Vehicles (FCVs), at an early stage. In 2019, we opened Iwatani Hydrogen Refueling Station in Osaka International Airport, in 2020 we opened Iwatani Hydrogen Refueling Station in Tokyo Kasai and Iwatani Hydrogen Refueling Station in Tokyo International Airport, and in August 2021 we newly opened seven hydrogen refueling stations such as Iwatani Hydrogen Refueling Station in Sendai Airport. We are also developing hydrogen

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This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Iwatani Corporation published this content on 10 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 05:54:01 UTC.


© Publicnow 2021
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Sales 2022 685 B 5 378 M 5 378 M
Net income 2022 29 450 M 231 M 231 M
Net Debt 2022 - - -
P/E ratio 2022 11,5x
Yield 2022 1,52%
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