Corporate Bonds and Credit Rating

Social bond

NameUnsecured Straight Bonds No.91
Date of Issue10th of June, 2022
Date of determination of terms3rd of June, 2022
Duration5 years
Issue Amount (Millions Yen)10,000
Use of Proceeds

The project aims to address social issues faced by underserved micro, small and medium enterprises and individuals in Southeast Asia, India and other emerging markets and will use the funds for new expenditures or refinancing related to the following projects.

■Credit Saison provides funds to Kisetsu Saison Finance (India) Pvt. Ltd., an India subsidiary, through equity investments and/or loans.
The India subsidiary lends to local non-banks, FinTech companies and others, and these companies and the India subsidiary itself lend to MSMEs and individuals.

■Credit Saison provides funds to Saison Capital Pte. Ltd., a Singapore subsidiary, through loans.
The Singapore subsidiary uses the funds to increase equity investments and/or loans to start-ups (e.g., non-banks, FinTech companies) that work on realizing financial inclusion.

Press releaseAnnouncement of Issuance of Social Bonds

Third party eligibility assessment

In January 2022, we received an independent third-party eligibility assessment of our social bonds from Rating and Investment Information, Inc. ("R&I") as an independent third-party of evaluation of social bonds, which the Company has established a social bond framework in January 2022 that complies with the "Social Bond Principles 2021" of the International Capital Markets Association ("ICMA") and the "Social Bond Guidelines 2021" of the Financial Services Agency.

Management of Proceeds

The funds raised through social bonds shall be allocated to each local subsidiary based on an investment and financing plans of each local subsidiaries for eligible projects, and shall be properly managed with SDGs Bond Fund Management file.


All the funds raised through social bonds was allotted to an appropriate loans outstanding at the end of Mar’23. On top of the funds raised through social bonds, Credit Saison added some funds and total loans outstanding to end borrower was JPY 10,228,049,937.

Status of allotment of proceeds

Total amount of proceeds(Issued amount less costs of issuance)9,942,718,160
Amount remit from CS to subject entities in FY2022 (actual)
Of which, capital increase and/or loans outstanding to India entity
Of which, loans outstanding from India entity to local fintech/non-bank company
Of which, loans outstanding to end borrower
Of which, loans outstanding to Singapore entity
Of which, loans outstanding from Singapore entity to local fintech/non-bank company
Of which, loans outstanding to end borrower
Unallocated balance to end borrower at the end of Mar 20230
Loans outstanding to end borrower incl. additional funds from CS at the end of Mar 202310,228,049,937​​

Impact report


Amount of loans outstandingJPY 10,228,049,937
Number of loans (active)112,130
Number of total disbursed loans by local fintech/nonbank company
*Data collection period from 1st Apr 2022 to 31st Mar 2023

*For competitive reasons, we will refrain from disclosing the cumulative number of loans to our local subsidiaries


Number of employees of local fintech/nonbank company74,804
Total clients loaned by local fintech/nonbank company MSMEs 837,684

(As of end of Mar 2023)

Impact (Effects Emerging from the Outcome and Final Goals)

  • ・Provide the underserved with access to essential financial services
  • ・Solve social issues by supporting start-ups, etc. and achieving financial inclusion
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