Second Opinion
June 28, 2024

OBAYASHI CORPORATION
Sustainable Finance Division
Yosuke Tomita

Unsec. Str. Bonds No.24 (OBAYASHICORPORATION Sustainability Bond)
MonitoringRating and Investment Information, Inc. (R&I) has confirmed that the OBAYASHI CORPORATION haveappropriately implemented its reporting based on the determined framework of 2019. Monitoring will be done
annually based on the request of issuer until 28th June 2024.
■Description of Instrument
ISSUEROBAYASHI CORPORATION
Unsec. Str. Bonds No. 24

INSTRUMENT NAME（OBAYASHI CORPORATION Sustainability Bond）

ISSUE AMOUNT (mn)

JPY 10,000

ISSUE DATE

June 20, 2019

MATURITY DATE

June 20, 2024

ReportingRating and Investment Information, Inc. (R&I) has confirmed that the issuer have appropriately implemented its
reporting based on the initially determined framework.

(1) Status of allocation of proceeds raisedStatus of allocation of proceeds raised is disclosed via the environmental and social activity results sectionof the issuer’s website. There are no significant change in the condition of use of proceed.
■Items to be disclosed determined in framework
Status of allocation of proceeds raised

Environmental improvement impactSocial impact

Rating and Investment Information, Inc.

Copyright (C) 2024 Rating and Investment Information, Inc. All rights reserved.

(Contact) Sustainable Finance Marketing Dept.: Terrace Square, 3-22, Kandanishiki-cho, Chiyoda-ku, Tokyo 101-0054, Japan TEL 03-6273-7408
Second Opinions are R&I's opinions on the alignment of a framework, formulated by companies etc. to raise funds for the purpose of environmental conservation and socialcontribution, with the principles etc. compiled by public organizations or private organizations related to the relevant financing as of the date of assessment and are notstatements of fact. Further, R&I does not state its opinions about any matters other than the alignment, certify outcomes, give advice regarding investment decisions or
financial matters, or endorse the merits of any investment subject to the financing. R&I does not undertake any independent verification of the accuracy or other aspects of
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Second Opinion■Eligible Projects

Proceeds raised

Proceeds used

Proceeds to be used

Obayashi TechnicalResearch InstituteZEB

400

4000Obayashi
Next-Generation
Training Facility

5,000

5,00001,000

1,0000

R&D for hydrogenproduction plant

400

4000Otsuki Biomass
Power Plant/
Kamikita Ogawara
Wind Farm

3,143

3,143

09,943※19,943

0Operation ofObayashi Rin-yu-kai
Vocational School
Subsidy for certifiedexcellent site
supervisors andexcellent operators

Total※1 Excluding fees for issuing(2) Environmental improvement impact and Social impact


Details of reporting is disclosed via the environmental and social activity results section of the issuer’s
website.

■Reporting Items defined in Framework (Green Project)

Project Name

Reporting Items

Obayashi TechnicalResearch Institute
ZEB

Certification regarding Green residence and work environment or performance

Obayashi NextGeneration Training
Facility
R&D for hydrogenproduction plantthat is equivalent

Completion status of R&D conducted in the facility

2/5

Second OpinionOtsuki Biomass
Power Plant/
Kamikita Ogawara
Wind Farm

CO2 reduction performance measured by below index[CO2 reduction effect]=[Result of annual power produced(kWh)]× [CO2emission factor by electricity company(kg-CO2/kWh)*2]*2 Source: Ministry of the Environment■Reported Items (Green Project)

Project Name

Reporting Items

Obayashi TechnicalResearch Institute
ZEB・Implemented ZEB in FY2014.3, and certified as BELS certification systemʼs5 stars (the highest ranked) and ZEB rating in Mar 2019.

Obayashi NextGeneration Training
Facility・Earned BELS certification system’s 5 stars (the highest ranked) and ZEB
Ready rating Nov 2021.
・Earned gold the LEED in Oct 2022.
・Earned FSC® Project Certification (FSC-P001889) in Apr 2022.

R&D for hydrogenproduction plant

・hydrogen production plant−output 22.5kg-H2/hour by 1.5 MW geothermal
power−was completed in Mar 2021 and started producing hydrogen.

Otsuki Biomass
Power Plant/
Kamikita Ogawara
Wind Farm■Reporting Items defined in Framework (Social Project)
Project Name
Obayashi TechnicalResearch InstituteZEB
Obayashi NextGeneration Training
FacilityOperation ofObayashi Rin-yu-kai
Vocational School

Reporting Items

Certification regarding well-being residence and work environment orperformance that is equivalent

Number of students attended the training school

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Second Opinion

Subsidy for certified
excellent sitesupervisors andexcellent operators

Number of workers who received subsidy■Reported Items (Social Project)
Project Name

Reporting Items

Obayashi TechnicalResearch InstituteZEB・WELL Certified™ at Gold Level on 21st Nov 2017 and Earned WELL HealthSafety Rating in Apr 2021.

Obayashi NextGeneration Training
Facility・Acquired CASBEE Wellness Office (S rank) in Oct 2022, WELL certification(Platinum) and WELL Health-Safety Rating in Feb 2023.
・Adopted as a support project for the construction of pioneering buildings
using CLT in Jun 2019.
・Adopted as a leading project for sustainable buildings (wooden leading type)in Jul 2019.
・74 students attended the training school in FY2020.3.

Operation of
Obayashi Rin-yu-kai
Vocational School

・44 students attended the training school in FY2021.3.
・51 students attended the training school in FY2022.3.
・60 students attended the training school in FY2023.3.
・66 students attended the training school in FY2024.3
・ Certification allowances for excellent site supervisors and excellent
operators are paid to 456 construction workers in FY2020.3.

Subsidy for certified
excellent site
supervisors andexcellent operators

・ Certification allowances for excellent site supervisors and excellent
operators are paid to 492 construction workers in FY2021.3.
・ Certification allowances for excellent site supervisors and excellent
operators are paid to 497 construction workers in FY2022.3.
・ Certification allowances for excellent site supervisors and excellent
operators are paid to 523 construction workers in FY2023.3.
・ Certification allowances for excellent site supervisors and excellent
operators are paid to 561 construction workers in FY2024.3.

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