Green Bond Fact Sheet
Meidensha Corporation

Date: 29 July 2019

Issue date: 23 July 2019 Maturity date: 23 July 2024 Tenor: 5 yearsIssuer Name

Meidensha CorporationAmount Issued

JPY 6 bn (USD 55.5m)

Country of riskJapan

CBI Database

IncludedIssuer Type1

Non Financial Corporate

Bond TypeUse of Proceeds

Green Bond Framework

N/A

Second party opinion

N/A

Certification Standard

Climate Bonds Standard
V2.1 including Sector
Criteria forAssurance report

Pre Issuance Verification by
DNV GLDNV GL

Green bond rating“Green 1”, from Japan Credit
Rating Agency☒ Energy☒ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ Waste to energy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energy performance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☒ Transport☒ Electric vehicles☐ Low emission vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewater treatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience••
Certification Verifier

Low Carbon TransportSolar

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Industry: components ☐Adaptation & resilience☐ Land use &agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose & paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
Reporting

Annual reports will be made available publicly on the issuer’s website.
The reports will have details of the allocation of proceeds as well as brief details of thethree factories. The reports will also include estimated amounts of avoided CO2emissions, which will be verified by DNV GL.

Company information

Meidensha claims its heritage back to 1897 when it began manufacturing electricalcomponents. In recent years, it has invested into developing motors for electric vehicles.
For example, in 2009, it became the supplier of motors for the Mitsubishi i-MiEV, which
was the first mass produced electric vehicle on the market. Since 2013, it has supplied
the motors for the Mitsubishi Outlander plug-in hybrid electric car.
It is involved in other industries related to the low carbon agenda, such as components insolar energy generation, electrical grid transmission, and power supply systems inelectric train networks.
Meidensha has signed up to the Science Based Targets Initiative (SBTI) and introduced aGHG reduction target for itself and its supply chain. As an indicator of size, in FY 2017, asa group, they had sales of JPY 242 billion (USD 2.2 billion).

Firsts, records andcertifications
Proceeds description

Climate Bonds view
Underwriters

This is the first Certified Climate Bond linked to the manufacture of motors for electricand hybrid vehicles.
The proceeds will be used to finance and refinance the expansion of existing and theconstruction of new facilities at three manufacturing sites across Japan. These facilities
will be solely and wholly for the purpose of manufacturing motors and related car partsof electric and hybrid electric vehicles. There will also be investments into rooftop solar
panels on the factory buildings.
These factories are due to be completed and operational later in 2019.
This is the second issuer in Japan to issue a Certified Climate Bond and it is a very
welcome signal of the growing green bond market in Japan
SMBC Nikko Securities Inc

Deal comments
Credit Rating

BBB+ (Japan Credit Rating Agency)

Pricing summary

Coupon – 0.26% per annum

Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign