Kyushu Railway Company
UnverifiedXOO7UVQ9BW Documents (6)
| XFID | Type | Title | Year | Source | Retrieved |
|---|---|---|---|---|---|
| XF-7S0LH5B-A | Framework | R&I Green Bond Assessment | 2021 →2022 | www.r-i.co.jp | 20 Mar 2026 |
| XF-1D045QF-D | Framework | R&I Green Bond Assessment | 2022 ↑2021 | www.r-i.co.jp | 20 Mar 2026 |
| XF-WU2QXHG-1 | Framework | R&I Green Bond Assessment | 2023 ↑2022 | www.r-i.co.jp | 20 Mar 2026 |
| XF-MM4L02T-D | Second Party Opinion | Kyushu Railway Company Green Bond Second-Party Opinion | 2021 | mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com | 5 Mar 2026 |
| XF-UQB7TYU-8 | Second Party Opinion | Kyushu Railway Company Green Bond Second-Party Opinion (Japanese) | 2021 | mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com | 5 Mar 2026 |
| XF-OJOD14R-F | Framework | 221118 Green Bond 2 | 2022 | www.jrkyushu.co.jp | 21 Feb 2026 |
Press Coverage (2)
News and trade press mentioning this issuer, tracked in the registry.
XF Company Profile
Extra-financial information found across 6 documents in the XframeworkID registry
Information extracted from documents in the registry. Values are as disclosed; this is not an assessment or rating. Last updated 2 Jun 2026.
Issuer Identity & Structure
- Issuer name and country/jurisdiction
- Kyushu Railway Company, Japan SPO 2021 2021
- Issuer sector/industry classification
- Railway transportation and multi-modal transport operator SPO 2021 2021
- Issuer organizational structure
- Public company with diversified subsidiaries in railway, bus, maritime, real estate, hotel, construction, and retail operations SPO 2021 2021
Green / Sustainable Finance Framework
- Sustainable bond framework name and version
- Kyushu Railway Company Green Bond Framework SPO 2021 2021
- Bond types covered under framework
- Green Bond SPO 2021 2021
- Eligible use-of-proceeds categories
- Clean Transportation, Green Buildings SPO 2021 2021
- Project evaluation and selection process description
- Finance department evaluates and selects candidate projects based on eligible criteria; executive officer (CFO) provides final approval. Process aligns with market practice. SPO 2021 2021
- Management of proceeds approach
- Finance department tracks allocation quarterly using internal accounting system by eligible project; unallocated proceeds held in cash or cash equivalents until deployment. Aligns with market practice. SPO 2021 2021
- Temporary investment of unallocated proceeds
- Cash or cash equivalents SPO 2021 2021
- Reporting commitments under framework
- Annual disclosure on website of allocation status and environmental impact; allocation reporting includes project overview, allocated/unallocated amounts, allocation timeline, new finance vs. refinance split; impact reporting includes annual CO2 emissions reduction from new vehicles, disaster prevention implementation status, green building certification status SPO 2021 2021
- Refinanced vs. newly financed project distinction
- Framework tracks and reports both new finance and refinance components as percentage split SPO 2021 2021
Standards & Regulatory Alignment
- Alignment with ICMA Green Bond Principles
- Aligns with Green Bond Principles 2018 (GBP) four core components SPO 2021 2021
- Alignment with UN Sustainable Development Goals
- SDG 9 (Industry, Innovation and Infrastructure) and SDG 11 (Sustainable Cities and Communities) SPO 2021 2021
- Alignment with Japanese Green Bond Guidelines
- Aligns with Japanese Green Bond Guidelines 2020 SPO 2021 2021
External Review & Verification
- Second Party Opinion (SPO) provider name and assessment date
- Sustainalytics, February 24, 2021 SPO 2021 2021
- SPO assessment scope and methodology
- Assessment of framework credibility, environmental effectiveness, and alignment with GBP 2018 four core components and Japanese Green Bond Guidelines 2020 SPO 2021 2021
- SPO preliminary evaluation or credibility rating
- Credible and impactful SPO 2021 2021
- Pre-issuance or post-issuance verification type
- Pre-issuance verification (Second-Party Opinion on framework) FRAMEWORK 2021 2021
- Assurance provider name and engagement period
- Rating and Investment Information, Inc. (R&I); Sustainalytics (2021 onwards) SPO 2021 2021
- External framework assessment rating
- GA1 (Formal) FRAMEWORK 2023 2023
Issuance Details
- Bond instrument type
- Unsecured Green Bonds with inter-bond pari passu clause FRAMEWORK 2021 2021
- Bond issuance date
- April 15, 2021 (8th issuance); July 21, 2023 (14th issuance); December 11, 2023 (16th issuance) FRAMEWORK 2021 2021
- Bond maturity date
- April 15, 2031 (8th issuance); July 21, 2033 (14th issuance); December 9, 2033 (16th issuance) FRAMEWORK 2021 2021
- Par or principal amount of bond and currency
- JPY 20,000 million (8th issuance, 2021); JPY 10 billion (14th issuance, 2023); JPY 10 billion (16th issuance, 2023) FRAMEWORK 2021 2021
Changes Over Time
Items where disclosed information changed across documents.
Document Updates
What changed between successive versions of documents.
Between the 2022 and 2023 versions of Kyushu Railway Company's green bond assessment, the primary change is a significant narrowing of eligible use of proceeds categories. The 2022 version explicitly allowed for both "Clean transportation / Green buildings," but the 2023 version restricts funding exclusively to "Green buildings." This represents a meaningful tightening of eligibility criteria and represents a shift in the company's environmental priorities away from transportation-related green projects.
- tightened Use of Proceeds — Removed clean transportation as an eligible use of proceeds category; restricted funding exclusively to green buildings
- tightened Eligibility Criteria — Narrowed the scope of eligible green bond projects from two categories to a single category of green buildings only
The 2022 update represents a significant expansion of Kyushu Railway Company's green bond program rather than a fundamental revision of terms. The key change is the consolidation and expansion of bond issuances into three separate tranches (11th, 12th, and 13th) totaling JPY 25 billion with different maturity dates, compared to a single JPY 20 billion bond in 2021. The Use of Proceeds categories remain identical (Clean transportation/Green buildings), and the overall assessment rating (GA1) is maintained. The 2022 version includes more comprehensive legal and procedural disclaimers but does not materially tighten or loosen eligibility criteria, add new climate targets, or introduce new standards alignment requirements.