Kawasaki’s Transition Bond Terms and Conditions Determined

Tokyo, February 22, 2024 — Kawasaki Heavy Industries, Ltd. announced today that following the news release on January 16, 2024 regarding the issuance of its Transition Bond*¹ (hereinafter “the Bond”), the terms and conditions of the Bond has been determined as follows. The funds raised from this issuance will be used for projects related to the transportation and storage of hydrogen and energy utilization of hydrogen. Specific solutions include liquefied hydrogen carriers, liquefied hydrogen storage tanks, and hydrogen gas turbines for power generation.

Kawasaki has set a sustainable finance target for 50% of its long-term debt in FY2030 and 100% in FY2050. By making active use of sustainable finance, Kawasaki will accelerate its sustainability management initiatives to realize the Group Vision 2030 and strengthen its engagement with stakeholders to contribute to the achievement of the SDGs and a sustainable society.

Summary of the Bond

Company	Kawasaki Heavy Industries, Ltd.
Tenor	5 years
Amount	￥10 Billion
Interest Rate	0.742%
Date of Issuance	February 29, 2024
Date of Redemption	February 28, 2029
Underwriters	Mizuho Securities Co., Ltd., SMBC Nikko Securities Inc., Nomura Securities Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
Structuring Agent	Mizuho Securities Co., Ltd.
Purpose for funds	Usage in projects related to clean energy utilization of hydrogen, as well as clean transport and storage of hydrogen
Framework	＞Sustainable Finance Master Framework （In Japanese only）
Second-party Evaluation	Japan Credit Rating Agency, Ltd.

Related Links

Further information on Kawasaki’s Issuance of Transition Bonds (Press release dated January 16, 2024):
https://global.kawasaki.com/en/corp/newsroom/news/detail/?f=20240116_8209

Kawasaki’s sustainable finance initiatives:
https://global.kawasaki.com/en/corp/ir/finance/index.html

Information on Group Vision 2030:
https://global.kawasaki.com/en/groupvision2030/