Sustainable Finance

Green Bonds

The proceeds of the green bonds will be used to finance carbon-neutral R&D and the group’s decarbonization projects, all designed to put “NGK Group Vision: Road to 2050” and “NGK Group Environmental Vision for 2050” into practice.

Overview of the Green Bonds

3rd Series

Overview of the Green Bonds
Name of bonds Ninth Series of NGK INSULATORS, LTD. Unsecured Straight Bonds (With Inter-Bond Pari Passu Clause) (Third Series of Green Bonds)
Maturity 5 years
Issuance amount 12 billion yen
Interest rate 0.583%
Issuance date November 24, 2023
Redemption date November 24, 2028
Credit rating “A+” provided by Rating & Investment Information, Inc.
Lead bookrunners Nomura Securities Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., SMBC Nikko Securities Inc. and Daiwa Securities Co. Ltd.
Structuring agent Nomura Securities Co., Ltd.

Overview of the past Green Bonds

2nd Series

1st Series

Projects Eligible for the Green Bonds’ Financing

We have set projects for development and distribution of products and services contributing to realizing “carbon neutrality,” “a recycling-oriented society,” and “harmony with nature,” and for investment in development of the manufacturing processes of such products, as eligible projects for green bond financing.

NGK’s green bond framework

Second Party Opinion

The green bond framework is aligned with the ICMA Green Bond Principles 2021 and the Green Bond Guidelines 2022 by the Ministry of the Environment and has obtained “Green 1(F),” the highest rating, provided by an external reviewer (Japan Credit Rating Agency, Ltd.).

Green Bond Framework Evaluation provided by JCR


Allocation Reporting and Impact Reporting

The reporting is available in the PDF at the link below.

Reporting (as of March 31, 2023)

Reporting (as of March 31, 2022)

Post Issuance Review

JCR reviewed the reporting’s alignment to the green bond framework.

Green Bond Post Issuance Review provided by JCR