Implementation of “Green Loan” Financing (DP Engineering Plastics (Nantong) Co., Ltd)
Polyplastics Co., Ltd.
Polyplastics Co., Ltd. (President and CEO: Toshio Shiwaku, Head Office: Minato-ku, Tokyo; hereinafter referred to as “the Company”) announces that DP Engineering Plastics (Nantong) Co., Ltd (Chairman: Koji Oishi; Head Office: Nantong, Jiangsu Province, China; hereinafter referred to as “DPE”), a Polyplastics Group company, has procured financing based on a syndicated green loan arranged by Sumitomo Mitsui Banking Corporation (China) Limited (President: Takashi Kakiuchi) and MUFG Bank (China), Ltd. (President: Yoshiki Hasegawa).
Green Loans are loans used by companies and other organizations to procure funds required for projects that contribute to solving environmental problems (“Green Projects”) and refer to the following; (1) the use of procured funds is limited to green projects, and (2) the procured funds are surely tracked and managed, and (3) transparency regarding these matters is ensured through annual post-loan reporting and other means.
DPE is a wholly owned subsidiary of P Holdings, Inc.(Representative Director: Koji Oishi), which is a holding company in which Polyplastics holds a 70% stake and Global Polyacetal Co., Ltd. (Representative Director: Naoto Obayashi), a wholly owned subsidiary of Mitsubishi Gas Chemical Company, Inc.(Representative Director: Masashi Fujii), holds a 30% stake, and is a corporation established in January 2022 in Nantong, Jiangsu Province, China as a polyacetal (hereafter referred to as “POM”) manufacturing company. By significantly increasing its production capacity through this financing, DPE will be able to meet the strong global demand for POM in the Chinese market and also contribute to the further development of the China economy.
Our Group is committed to CSR from the two aspects of “business activities themselves” and “social contribution activities (in the narrow sense of the term)”, in order to realize the Group’s corporate philosophy that “we contribute to building an abundant future society by innovation and developing talented and responsible people, through pursuing the unlimited potential of engineering plastics.”
These green loans have been certified by the Hong Kong Quality Assurance Agency (“HKQAA*”), an external certification body, for conformity with the “Green Loan Principles (2021 edition)”, international guidelines published by the Loan Market Association (LMA), the Loan Syndications Trading Association (LSTA) and the Asia Pacific Loan Market Association (APLMA), and the “Green Industry Guidance Catalogue (2019 edition)” formulated by the National Development and Reform Commission of the State Council of China, the People’s Bank of China, and others. The fact that the Group obtained green certification under both international and domestic Chinese standards this time demonstrates our Group’s attitude towards being actively involved in the realization of a sustainable society.
Going forward, the Group will continue to work together as a group to realize our corporate philosophy and a sustainable society.
(*) Hong Kong Quality Assurance Agency (HKQAA)
HKQAA is a non-profit public organization established by the Hong Kong government in 1989 to provide various assistance to enhance management performance. In addition to the introduction of international advanced management knowledge, it is actively providing advanced and diverse professional services, in order to meet the needs of the market and society and to promote the enhancement of industry standards and sustainable development.
【Contact information for inquiries regarding this matter】
CSR Group, General Administration Department, Polyplastics Co., Ltd.
Phone number: 03-6711-8614
Fax number: 03-6711-8606