News Release

July 1, 2024

Fujifilm to Issue JPY 200 Billion Social Bond Offering in Japan

TOKYO, July 1, 2024 – FUJIFILM Holdings Corporation plans to issue a JPY 200 billion social bond offering in July 2024, making it the largest-ever social bond offering in the corporate bond market in Japan*1. The social bond offering will be used to finance growth of the Company’s biopharmaceutical contract development and manufacturing business (Bio CDMO business), which contributes to fulfilling unmet medical needs and improving access to medicine across the globe. This is the second time since April 2022 that FUJIFILM Holdings Corporation has issued a social bond.

Biopharmaceuticals have emerged as a promising solution for addressing unmet medical needs, including intractable and rare diseases. The market is expected to grow at a compound annual growth rate of 8% from 2022 to 2030*2 driven by increased biopharmaceutical development and growing demand for existing products. As the global demand for biopharmaceuticals grows, it becomes important to establish a robust production system that ensures a stable supply of biopharmaceuticals for improving access to healthcare services, and one effective solution is to increase production capacity at Bio CDMOs and ensure consistent supply.

Fujifilm's Bio CDMO business has responded to the growing demand for biopharmaceuticals by strategic investments in facility expansions. This commitment extends beyond antibody drugs to include gene and cell therapy drugs for cutting-edge medical fields. Fujifilm is currently expanding large-scale new facilities in the U.S. and Denmark, with planned launches between 2024 and 2026. The Company aims to significantly increase its production capacity and further expand its business by promoting the development of high-efficiency and high-productivity technologies.

The bond proceeds will be used to invest in the growth of the Bio CDMO business, contributing to address unmet medical needs and improve access to healthcare through the stable supply of high-quality biopharmaceuticals.

Fujifilm has prioritized "health" as a key focus in its CSR plan "Sustainable Value Plan 2030," *3 which sets the fiscal year ending March 2031 as its goal. Through the global provision of innovative products and services, Fujifilm will contribute to the advancement of medical care and the overall improvement of global health and well-being.

  • *1 In corporate bonds issued as a social bond in Japan as of July 1, 2024, research according to Fujifilm.
  • *2 Estimated by Fujifilm based on EvaluatePharma®Nov,2023.
  • *3 Fujifilm defined four priority areas of “Environment”, “Health”, “Daily Life” and “Work Style” and two areas of “Supply Chain" and “Governance Processes” as basis of its business activities in the “Sustainable Value Plan 2030” and aims creating new value through the development of products, services and technologies in an effort to contribute to build sustainable society. For details, refer to the URL below.

1. Overview of the Bonds


FUJIFILM Holdings Corporation 20th/21st/22nd/23rd Series of Unsecured Corporate Bonds
(with inter-bond pari passu clause) (Social Bond)

Issue amount (Scheduled)

200 billion yen (maximum total amount)


3 years / 5 years / 7 years / 10 years

Timing of issue(Scheduled)

July 2024

Use of proceeds

Refinance existing investments related to capital investments for new manufacturing sites, M&A, manufacturing capacity expansion and development for high-efficiency and high-productivity technologies, etc., on Bio CDMO business

Structuring Agent*4

Daiwa Securities Co. Ltd.

Lead managers

Daiwa Securities Co. Ltd. 
Nomura Securities Co., Ltd.
SMBC Nikko Securities Inc. 
Mizuho Securities Co., Ltd.

*4 Entities that assist with the issuance of Social Bonds by undertaking tasks such as drawing up the framework for the bond issuance and obtaining a second party opinion.

2. Social Bond Framework and Second Party Opinion

Fujifilm developed its Social Bond Framework to address four core components; (1) Use of Proceeds, (2) Process for Project Evaluation and Selection, (3) Management of Proceeds and (4) Reporting. It obtained a Second Party Opinion from DNV Business Assurance Japan K.K., acting as an independent external reviewer, who confirmed that the Social Bond Framework is aligned with the "Social Bond Principles (SBP) 2023" of the International Capital Market Association (ICMA) and the "Social Bond Guidelines (SBG) 2023 Edition” of the Financial Services Agency of Japan.

About Bio CDMO business in Fujifilm

Fujifilm operates the Bio CDMO business mainly through its subsidiaries FUJIFILM Diosynth Biotechnologies, an industry-leading biologics Contract Development and Manufacturing Organization (CDMO) with locations in Teesside, UK, RTP, North Carolina, College Station, Texas and Hillerød, Denmark. FUJIFILM Diosynth Biotechnologies has over thirty years of experience in the development and manufacturing of recombinant proteins, vaccines, monoclonal antibodies, among other large molecules, viral products and medical countermeasures expressed in a wide array of microbial, mammalian, and host/virus systems. The company offers a comprehensive list of services from cell line development using its proprietary pAVEway™ microbial and Apollo™X cell line systems to process development, analytical development, clinical and FDA-approved commercial manufacturing. 


Media Contact

FUJIFILM Holdings Corporation
Corporate Communications Division,
Public Relations Group

  • * Please note that the contents including the product availability, specification, prices and contacts in this website are current as of the date of the press announcement and may be subject to change without prior notice.