KARIYA, Japan, Sept. 17, 2021 /PRNewswire/ -- DENSO Corporation
announces that it has issued DENSO Group's first sustainability
bonds denominated in USD to further promote sustainability
management. Sustainability bonds are bonds issued to finance
activities that contribute to both environmental and social
Since its founding, DENSO has practiced sustainability
management, which aims to pursue business growth while also solving
social issues. The DENSO Creed represents the company's founding
spirit and includes the principle, "To Provide Quality Products and
Services," reflecting DENSO's commitment to contributing to society
through its operations. The DENSO Group Long-term Policy 2030,
which was formulated in 2017, set forth a policy for its operations
"to enrich mobility that achieves sustainability, happiness and
peace of mind for everyone" by maximizing the value in the "Green"
and "Peace of Mind" domains and offering new value to become an
"inspiring" company in society.
In 2020, the DENSO announced it intends to achieve "virtually
net-zero CO2 emissions (carbon neutrality)" by 2035 in the "Green"
domain. In the "Peace of Mind" domain, the DENSO Group has been
working to achieve a society with "zero traffic accidents." For
DENSO, sustainability management is the foundation of its business
management and a growth driver that has been passed down since its
The funds obtained by issuing the sustainability bonds will be
used for various investments in electrification, advanced safety,
and automated driving. This first financing for DENSO by issuing US
dollar-denominated straight bonds also aims to diversify and
reinforce its sources of financing.
DENSO remains committed to accelerating sustainability
management to further improve its corporate value and help realize
a sustainable society.
1. Outline of issuance
2. Formulation of a sustainability bond framework
To issue the sustainability bonds, DENSO formulated a
sustainability bond framework, which stated: (1) use of proceeds,
(2) process for project evaluation and selection, (3) management of
proceeds, and (4) reporting, in accordance with the guidelines
established by the International Capital Market Association
For this framework, a second opinion has been acquired from
Vigeo Eiris, a third-party verification provider.
This press release has been prepared for the sole purpose of
publicly announcing matters relating to the DENSO CORPORATION's
issuance of the Notes, and not for the purpose of soliciting
investment or engaging in any other similar activities within or
outside Japan. This press release
is not an offer of securities for sale in Japan, the United
States or any other jurisdiction. The bonds have not been
and will not be registered under the Financial Instruments and
Exchange Act of Japan, the U.S.
Securities Act of 1933 or any other applicable securities laws. The
Notes may not be offered or sold in the
United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933. There will be
no public offering in the United
States or elsewhere with respect to the bonds.
DENSO is a $44.6
billion global mobility supplier that develops advanced
technology and components for nearly every vehicle make and model
on the road today. With manufacturing at its core, DENSO invests in
its 200 facilities to produce thermal, powertrain, mobility,
electrification, & electronic systems, to create jobs that
directly change how the world moves. The company's 168,000+
employees are paving the way to a mobility future that improves
lives, eliminates traffic accidents, and preserves the environment.
Globally headquartered in Kariya, Japan, DENSO spent 10.0 percent of its global
consolidated sales on research and development in the fiscal year
ending March 31, 2021. For more
information about global DENSO,
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