Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) has served as an arranger for a syndicated Mizuho Eco Finance* deal providing financing to Oki Electric Industry Co., Ltd. (President and Representative Director: Shinya Kamagami; "Oki"). The deal came into effect today.
Mizuho Eco Finance is a financial product tied to environmental assessment, by which we provide financing to clients who meet a certain minimum score based on our scoring system, and is one way that we are taking action alongside our clients to advance the shift to a low–carbon society. The scoring system utilizes an environmental assessment model developed by Mizuho Information & Research Institute, Inc. to evaluate client initiatives and benchmarks via a globally accepted environmental verification and evaluation program.
Addressing climate change is becoming increasingly important, and through this syndicated Mizuho Eco Finance deal Mizuho, along with the other participating financial institutions, will provide financial support for Oki’s efforts to combat climate change.
Mizuho has recognized Oki for its environmental initiatives, which include becoming a supporter of the Task Force on Climate–related Financial Disclosures in May 2019, disclosing the CO2 emissions from its entire supply chain, and establishing the "Oki Environmental Challenge 2030/2050", a medium– to long–term environmental vision aimed at preventing global warming and achieving the Sustainable Development Goals.
In addition, in FY2019 Mizuho Information & Research Institute consulted for Oki on procurement of electricity from renewable energy sources. Oki’s shift to low carbon operations depends on this procurement from renewable energy sources, and the consulting analyzed Oki’s available procurement methods and supported its short–term and medium– to long–term procurement planning.
At Mizuho, we are working as a unified group to further incorporate sustainability initiatives into our business strategy. We will draw on our expertise as a financial services group to proactively provide a wide range of solutions, including advisory and capital financing support, to businesses that are contributing to the shift to a low–carbon society.
- *Mizuho Eco Finance
See our press release dated June 28, 2019: "Announcing the launch of Mizuho Eco Finance"
Borrower: Oki Electric Industry
Arrangers: Mizuho Bank and Sumitomo Mitsui Banking Corporation
Lenders: Mizuho Bank and Sumitomo Mitsui Banking Corporation, with other Japanese financial institutions
Contract date: January 28, 2020
Effective date: January 31, 2020