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Home  >  Press Releases  >  2016  >  Sony Life Invests in Japan International Cooperation Agency Social Bonds

Sony Life Invests in Japan International Cooperation Agency Social Bonds

Sep. 20, 2016

Sony Life Insurance Co., Ltd. ("Sony Life"), a wholly-owned life insurance subsidiary of Sony Financial Holdings Inc., invested ¥4.4 billion in Japan International Cooperation Agency (JICA) bonds in September 2016, in an effort to contribute to society through its investment activities. This marked Sony Life's first investment in social bonds*.

The JICA bonds are unique in being the first social bonds issued in the Japanese market. Through its investment in JICA bonds, Sony Life is providing funds that will be used for yen loans to put in place transportation infrastructure in developing countries and offer support for groups that are vulnerable to disaster. In such ways, the funds will be used to promote social and economic development in developing regions and the healthy development of international socioeconomics.

Sony Life takes the initiative on social contribution activities to fulfill its social mission as a life insurer and in the aim of realizing a sustainable society. Through its investment activities, as well, Sony Life fulfills its role as a life insurance company to provide peace of mind over the long term and contribute to the creation of a sustainable international society, thereby reflecting its social responsibility.

Overview of the Bonds

[Issuer] Japan International Cooperation Agency (R&I rating: AA+, S&P rating: A+)
[Term to maturity] 30 years
[Issue amount] ¥15.0 billion

Reference

The world is currently afflicted by global-scale problems, including the environment, infectious disease, poverty and conflict. As a centralized provider of Official Development Assistance (ODA), JICA seeks to resolve these issues and contribute to the creation of a sustainable international society. JICA uses all the funds raised through JICA bonds in its ODA loan projects, providing financing to help resolve social issues in developing countries. Principal financing goes toward including large-scale infrastructure development, poverty reduction and human resource development projects. Post facto assessments by third-party evaluators are performed on ODA loan projects, and the results of these evaluations are publicized on JICA's website.

* On June 16, 2016, these bonds met the definition of the Green Bond Principles, for which the International Capital Market Association (ICMA) serves as secretariat. The funds raised through these bonds must contribute to social development, and their funding transparency must be confirmed. An independent third-party institution, The Japan Research Institute, Limited, has provided a second opinion on the characteristics of JICA bonds as social bonds.

Note: This is an English-language summary of a Japanese announcement made by Sony Life on September 20, 2016. The summary was prepared by Sony Financial Holdings solely for the convenience of non-Japanese readers.