Meidensha claims its heritage back to 1897 when it began manufacturing electrical components. 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 in solar energy generation, electrical grid transmission, and power supply systems in electric train networks.
Meidensha has signed up to the Science Based Targets Initiative (SBTI) and introduced a GHG reduction target for itself and its supply chain. As an indicator of size, in FY 2017, as a group, they had sales of JPY 242 billion (USD 2.2 billion).
This is the first Certified Climate Bond linked to the manufacture of motors for electric and hybrid vehicles. The proceeds will be used to finance and refinance the expansion of existing and the construction of new facilities at manufacturing sites across Japan. These facilities will be solely and wholly for the purpose of manufacturing motors and related car parts of electric and hybrid electric vehicles.
These factories are due to be completed and operational later in 2019. There will also be investments into rooftop solar panels on the factory buildings.
|Use of Proceeds||5 years||
|Meidensha Press Release 17 July 2019|