World News: 02:00 GMT Monday 11th November 2019. [Nidec Corporation via Globe Newswire via SPi World News]
KYOTO, Japan, Nov. 10, 2019 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE:6594; OTC US: NJDCY) ("Nidec") today announced plans to issue Green bond* in the Japanese domestic market through a public offering ("the Issuance"). Nidec seeks to raise approximately 100 billion yen from the Issuance, which would mark the largest corporate green bond ever issued in Japan.
Nidec's strategic response to this top-priority challenge centers on the design and manufacture of environmentally superior motor drive products that enable end applications to outperform the most stringent and carbon in any given industry they serve. With particular reference to the automotive industry, a once-in-a-century technological shift is going on to make more vehicles run on electricity than on petrol or diesel fuels, in which electric traction motors are chosen over combustion engines. Nidec is proactively aligning its technological, manufacturing, and partnership strengths with the transformative trend in ways consistent with the evolving technological requirements of global automakers. One such example is the development of E-Axle, a traction motor system designed to help electric and plug-in hybrid vehicles run with near-zero direct emissions. In addition, Nidec’s own-developed cooling system gives E-Axle extra compactness, allowing automakers to design lighter and less resource-reliant vehicles.
Nidec expects the Issuance to generate an increasingly liquid source of funding necessary to diversify its investor bases and hopes to f a thriving bond market and sustainable society. Nidec plans to use the from the Issuance to finance its facilities and R&D activities associated with the design and manufacture of traction motors for electric vehicles. A Second Party Opinion has been obtained from Sustainalytics, a leading international third-party verification provider.
The details are as follows:
* Green Bond: Bonds issued to raise funds required for businesses that help solve environmental problems such as global warming.** For more information on Opinions, please refer to Sustainalytics Website at: https://www.sustainalytics.com/sustainable-finance/wp-content/uploads/2019/11/Nidec-Corporation-Green-Bond-Second-Party-Opinion-08112019-ENGLISH.pdf*** Green Bond Structuring Agent: One who supports the issuance of green bonds through the formulation of a green bond framework and advice on obtaining a second opinion, etc.
Globe Newswire: 02:00 GMT Monday 11th November 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.