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Contribute to global environment

NRI Green Bond

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What is NRI Green Bond?

In order to realize our corporate philosophy of "Dream up the future", NRI engages in environmental, social and governance activities to create company value.
As one of these activities, NRI issued a Green Bond (Nomura Research Institute, Ltd. 3rd series unsecured corporate bonds).The purpose is to activate the green investment market in Japan and to be a leader in realizing a sustainable future.

The outline of NRI Green Bond

  • Bond Name

    NRI Green Bond (Nomura Research Institute, Ltd. 3rd series unsecured corporate bonds)

  • Issue Date

    16th of September 2016

  • Redemption period

    10 years

  • Total amount of the issuance

    ¥10 billion

  • Determination date of issue terms

    9th of September 2016

  • Use of proceeds

    The net proceeds of the bond will be used to finance the acquisition of trust beneficiary rights with part of Yokohama Nomura Building as the trust asset, and capital investment pertaining to the building.
    (Part of the trust beneficiary rights were sold in May 2021. Please refer to “About the Partial Sale of Trust Beneficiary Rights” for details.)

  • Credit Rating

    AA- (Rating and Investment Information, Inc.)

  • Second party opinion(*1)

    Second party opinion on sustainability of Green Bond(361KB)

The NRI Green Bond as noted above obtained an "R&I Green Bond Assessment"(*2) of the highest grade GA1 ("Green bond proceeds are used to invest in projects with environmental benefits to a significant degree") from Rating and Investment Information, Inc. on 9th of September 2016.


Green Bond Assessment


  • *2: 

    "R&I Green Bond Assessment" is R&I's opinion regarding the extent to which the proceeds from the issuance of green bonds are used to invest in projects with environmental benefits, and it is expressed on a five-point scale of GA1 (significant degree) to GA5 (limited degree).

This information has been disclosed only for the purpose of publicly announcing the issuance of debt securities by Nomura Research Institute and not for the purpose of soliciting investment or engaging in any other similar activities.

About the Partial Sale of Trust Beneficiary Rights and Determination of New Allocation

In May 2021, NRI sold 60% of the trust beneficiary rights in the Yokohama Center (Yokohama Nomura Building) (*1) acquired with NRI Green Bonds (3rd series unsecured corporate bonds), and continues to manage the proceeds of the sale in a dedicated account until allocation to an eligible green project. NRI has continued to use the Yokohama Nomura Building after the partial sale of the trust beneficiary rights and is continuing business activities aimed at reducing environmental impact.
In July 2021, the construction project for the Osaka Data Center Ⅱ (O2DC) 2nd Building (*2) was determined to be an eligible green project. The construction project for O2DC 2nd Building is scheduled to commence in November 2021 and be completed in February 2023. The total cost is estimated to be approximately ¥4.9 billion. Please refer to the Green Bond Framework for information on judgment of eligibility and management of funds, etc.
Our Finance Division and the Sustainability Promotion Division will continue to consider eligible green projects across the organization, in accordance with the Green Bond Framework, and based on the criteria of effects of environmental improvement. After the determination is made, the status of allocation of funds and the effect of environmental improvement of the project will be reported in the ESG Data Book every year until the bonds are redeemed.

  • *1:  

    Environmental certification obtained by Yokohama Center (Yokohama Nomura Building)

    • CASBEE (Comprehensive Assessment System for Built Environment Efficiency) S Rank
    • LEED Gold
    • DBJ Green Building certification 5 stars*
    • SEGES (Social and Environmental Green Evaluation System)

    *A building with superior “consideration for the environment and society” of the best class in Japan

  • *2:  

    Osaka Data Center Ⅱ (O2DC) 2nd Building
    O2DC 2nd Building is a data center with environmental management technology and security knowledge developed through data center operations spanning the half century since NRI was founded in 1965.
    It utilizes the Double-Deck System, patented by NRI, and other techniques to reduce environmental impact such as minimization of cooling load and efficient processing*.
    O2DC provides a top quality service level** which ensures security and safety to NRI’s various clients from finance and other industries.

    ** Equivalent to tier 4 of the JDCC Data Facility Standard

The outline of Yokohama Nomura Building

  • Name

    Yokohama Nomura Building

  • Address

    4-4-1 Minato Mirai, Nishi-ku, Yokohama, Kanagawa

  • Occupied floor

    2nd-17th floor

  • Certification

    CASBEE (Comprehensive Assessment System for Building Environmental Efficiency) S rank

    LEED (Leadership in Energy & Environmental Design) Gold

    DBJ Green Building Certification 5 stars*

    SEGES (Social and Environmental Green Evaluation System)

    * The Japanese top class building considering environment and society.

Status of the project

In April 2017, NRI acquired the trust beneficiary rights to the Yokohama Center (Yokohama Nomura Building), for which the proceeds from the NRI Green Bond are to be used, and began to use the building as a tenant.

Table 'Status of the project by Category and Item'

Environmental assessment on target facilities

Yokohama Center (Yokohama Nomura Building)

Environment load information: Input (resources used)

Table 'Consumption by energy resource use'

Environment load information: Output (impact on environment)

Table 'Greenhouse gases emissions by energy resource use'

Yokohama Minato Center (Yokoyama Dia Building)

Table 'Greenhouse gas emissions per floor area or per employee'

Comparison between Yokohama Nomura Building and Yokoyama Dia Building

Table 'Improvement rate in greenhouse gas emissions per employee'

  • Notes: 
    • 1. 

      When conducting the environmental assessment on the Yokohama Nomura Building, a comparison was conducted with the Yokohama Dia Building that was the main transfer source.

    • 2. 

      Emissions per employee is calculated based on the standard use area per person of 2.5 tsubo (8.3m2) that is prescribed as the office standard for NRI.

    • 3. 

      Because the energy resources for the Yokohama Nomura Building are electricity, city gas, and cold water and steam, total heat, greenhouse gas emissions, emissions per floor area, and emissions per employee are calculated based on these resources.

    • 4. 

      The scope of the limited assurance by Ernst & Young ShinNihon LLC was limited to the Indicators marked with the symbol "✓"

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