Kawasaki's Issuance of Transition Bonds

Tokyo, January 16, 2024

Kawasaki Heavy Industries, Ltd. announced today its first transition bond issuance as a means of financing via the Master Framework,* which the company established in November 2023 as the first fund-raising framework of its kind worldwide.

Transition bonds are bonds issued for the purpose of financing projects based on a long-term transition strategy aimed at reducing corporate greenhouse gas emissions. Funds raised through public offerings of these bonds domestically within Japan will be used for projects related to the clean transport and storage of hydrogen and clean energy utilization of hydrogen.

Specific solutions include liquefied hydrogen carriers, liquefied hydrogen storage tanks, and hydrogen gas turbines for power generation. Through the provision of such decarbonization solutions, Kawasaki will promote the transition to carbon neutrality not only within its own organization, but among its customers as well, thus contributing to the early realization of worldwide carbon neutrality.

The company's bond issuance has been selected for support under the Ministry of Economy, Trade and Industry's FY2023 Subsidy for Global Warming Countermeasures Promotion Project.

Bond Issuance Overview


Based on the "Group Vision 2030: Trustworthy Solutions for the Future," Kawasaki is striving to provide innovative solutions in a timely manner to society, while also pursuing speedy action and new challenges in ways that transcend various boundaries in order to realize continuing growth. Through sustainable finance measures which include the issuance of transition bonds, the company will provide financial support for the above initiatives. Furthermore, as a leading company in sustainable finance, Kawasaki will contribute to the spread of such financing throughout Japan and the rest of the world.

* A fund-raising framework that covers six types of sustainable finance: Green, Transition, Transition Linked, Blue, Social, and Sustainability Linked. A second opinion regarding this framework has been obtained from the Japan Credit Rating Agency, Ltd.

Kawasaki Heavy Industries Ltd. press release