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Initiatives Addressing Environmental Issues

Environmental Policy

In terms of environmental issues, we are contributing to the prevention of global warming by promoting the reduction of CO2 emissions through measures such as improving our operations to reduce energy consumption and introducing energy-saving equipment. Furthermore, with the objective of reducing our environmental load, we are aiming to support the realization of a resource circular society with a smaller environmental footprint by conserving water, implementing the 3Rs (reducing, reusing, and recycling resources), etc.

Environmental Targets

GHG Emissions in Scope 1 and Scope 2

(1) Long-term Target
Achieve net-zero emissions by 2050.

(2) Short-term Target
Reduce GHG emissions by 42% by 2030 compared with the 2021 level.

(3) Operational Targets

  • ■For the areas over which MIRR has management authority, the medium- to long-term target is to reduce both energy consumption intensity (crude oil equivalent) and GHG emissions intensity by an annual average of at least 1.5% over a five-year period including the relevant fiscal year.
  • ■As a short-term target, MIRR aims to reduce both energy consumption intensity (crude oil equivalent) and GHG emissions intensity by at least 1.5% year on year.

Water Consumption

The target is to reduce specific water consumption each year compared with the previous year across the entire portfolio and at individual properties.

Waste Disposal

The target is to improve the proportion of waste that is recycled each year compared with the previous year across the entire portfolio and at individual properties. For non-residential properties, we are currently striving to improve the measurement coverage rate and to promote the 3Rs and reduce waste quantities while asking tenants to support MIRR's approach as part of efforts to enhance tenant relations. At residential properties, since we cannot measure waste amounts, we will continue to conduct awareness activities aimed at tenants.

Environment-Related Data

Energy Consumption※1

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Item Unit FY2020 FY2021 FY2022 FY2023 FY2024
Total Energy Consumption※2 MkWh 13,162 14,103 10,842 9,852 10,331
Fuel Consumption MkWh 2,024 3,288 1,493 987 957
Electricity Consumption MkWh 11,138 10,815 9,350 8,865 9,374
Energy Consumption Intensity kWh/m2※3 123 146 132 120 114
YoY Reduction Rate of Energy Consumption Intensity % 118.7% 90.4% 90.9% 95.0%

※1：Beginning with the FY2024 results, the calculation methodology has been revised. Energy consumption figures have been recalculated, including for prior years, to cover energy usage at assets over which the Investment Corporation has management authority.

※2：Due to rounding, totals may not equal the sum of individual figures.

※3：Energy consumption intensity figures are rounded to the nearest whole number.

Greenhouse Gas Emissions※1

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Item Unit FY2020 FY2021 FY2022 FY2023 FY2024
Scope 1 + 2 (Location-based) t-CO2 5,319 5,281 4,335 4,060 4,142
Scope 1 + 2 (Market-based) t-CO2 5,827 6,269 5,108 4,080 5,168
Scope 1 t-CO2 363 598 268 177 177
Scope 2 (Location-based) t-CO2 4,956 4,683 4,067 3,883 3,965
Scope 2 (Market-based) t-CO2 5,464 5,671 4,840 3,903 4,991
CO₂ Emissions Intensity kg-CO2/m2※2 55 65 62 50 57
YoY Reduction Rate of CO₂ Emissions Intensity % 118.2% 95.4% 80.6% 114.0%
Scope 3 (Category 13)※3 t-CO2 1,960 4,629 4,997 4,396 5,214

※1：Beginning with the FY2024 results, the calculation methodology has been revised. Scope 1 and Scope 2 emissions have been recalculated, including prior years, based on energy-related greenhouse gas emissions from assets over which the Investment Corporation has management authority.

※2：CO₂ emissions intensity is calculated based on Scope 1 and 2 emissions (market-based), and figures are rounded to the nearest whole number

※3：Scope 3 emissions (Category 13) represent emissions attributable to tenant-leased properties (downstream) for which the Investment Corporation does not have management authority, such as single-tenant leased assets.

Water Consumption

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Item Overall
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
Total water consumption (thousands of m3): A+B 134.8 110.7 180.3 186.8 179.2 202.8
Externally purchased water consumption (thousands of m3): A 132.4 108.6 177.6 183.6 175.8 198.8
Other water consumption (thousands of m3): B 2.4 2.1 2.7 3.2 3.4 4.1
Specific water consumption (m3/m2): for A* 0.83 0.69 0.84 0.84 0.69 0.70
Year-on-year specific water consumption reduction rate (%) - 82.9% 122.5% 99.7% 82.2% 101.4%

N.B.:The intensity for * is rounded off after the second decimal point.

Waste Generation

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Item Overall
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
Total waste generation (t) 936.10 1,108.90 1,358.09 948.89 607.58 854.63
Total general waste generation (t) 936.10 1,108.90 1,358.09 948.89 607.58 854.63
Total industrial waste generation (t) 0.00 0.00 0.00 0.00 0.00 0.00
Ratio by waste disposal method
Recycling (%) 41.4 39.5 33.6 27.3 20.3 31.1
Reused (%) 0.7 0.5 0.4 0.4 0.7 0.0
Thermal recycling (%) 11.9 17.3 0.1 0.1 0.0 0.0
Incinerated (%) 26.2 24.6 33.0 39.3 27.2 61.9
Landfill (%) 5.8 8.6 7.9 0.6 0.9 1.4
Unknown (%) 14.0 9.5 25.1 32.4 50.9 5.7

N.B.:The intensity for * is rounded off after the decimal point.

Basis for Calculating Environmental Performance

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Item Energy Consumption Greenhouse Gas Emissions Water Consumption Waste Generation
Assumptions for Calculation Methodology
  • Offices over which the Investment Corporation has management authority are included as the reporting boundary and aggregated as the target facilities.
  • Fuels subject to fuel consumption include city gas and other fuels consumed at the target facilities.
  • The standard calorific values of fuels are based on the Ministry of the Environment and the Ministry of Economy, Trade and Industry publications, “Standard Calorific Values and Carbon Emission Factors by Energy Source” and “List of Calculation Methods and Emission Factors under the GHG Accounting, Reporting and Disclosure System.
  • Scope 1 covers fuels such as city gas consumed at the target facilities.
  • Scope 2 covers electricity consumed within the reporting boundary.
  • GHG emission factors by energy type are based on the Ministry of the Environment and the Ministry of Economy, Trade and Industry publications, “Standard Calorific Values and Carbon Emission Factors by Energy Source” and “List of Calculation Methods and Emission Factors under the GHG Accounting, Reporting and Disclosure System
  • For electricity, emissions are calculated using the “substitute value” for the location-based method and the “adjusted emission factor” for the market-based method.
  • In addition, it covers properties or areas owned during a given calculation period.
  • In the case of acquisition or disposition during the period, reporting covers data during the period when they were owned.
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Intensity calculation method
  • The calculation method for intensity is as follows:

\[ \sf Intensity = \frac{Energy\ consumption\ amount\ or\ greenhouse\ gas\ emission\ amount\ or\ water\ consumption\ amount}{Total\ floor\ area*} \]

*The total floor area here is the sum of the total floor areas based on the calculation method indicated in “Intensity denominator”.

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Definition of the Intensity Denominator
  • The denominator used for intensity is the total floor area (m²).
  • For properties acquired or disposed of during the reporting period, the floor area during the holding period is used (total floor area ÷ 12 months × number of months held = m²).
  • For residential properties, the total floor area of common areas is used.
Reporting Boundary
  • The reporting boundary covers properties included in the Investment Corporation’s portfolio.
  • Properties or portions thereof held during each reporting period are included. For properties acquired or disposed of during the period, only data corresponding to the holding period are included.
  • For properties in which the Investment Corporation holds a co-ownership interest, the figures are calculated based on the proportion corresponding to the Investment Corporation’s ownership interest during the holding period.
Reporting Period
  • The fiscal year runs from April to March, and performance data are generally updated on an annual basis.

Initiatives Addressing Environmental Issues at Assets under Management

The Asset Manager is engaged in energy-saving upgrades and improvements to building operations for the purpose of reducing the portfolio's environmental footprint and improving the interior environment.

Energy-Saving and LED Conversion Work

Conversion to LED lighting is progressing at 60 properties (including partial conversion) in the portfolio. The LED conversion rate for the portfolio is as shown below (based on floor area; as of the end of Auguest 2025).

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No. of Properties
(including partial implementation)		 LED Conversion Rate across Portfolio
LED conversion work 62 Total: 74.7% In common areas: 91.4%
In private areas: 65.6%

Higashi-Ikebukuro Central Place (private areas)

Higashi-Ikebukuro Central Place (private areas) photo1
Higashi-Ikebukuro Central Place (private areas) photo2

Renewable energy

Renewable energy generation

The amount of renewable energy generation at MIRR’s portfolio properties is as follows

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FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
Solar power generation (kWh) 312,713 371,566 350,752 367,121 348,327 335,114

*All electricity generated is sold to Shikoku Electric Power Company, Incorporated

YAMADA web.com Matsuyama Toiyacho (Rooftop Solar Panel)

C-05 YAMADA web.com Matsuyama Toiyacho (Rooftop Solar Panel)

Status of initiatives to introduce renewable energy

The MIRARTH HOLDINGS Group, MIRR’s main sponsor, engages in energy business utilizing renewable energy that contributes to reductions in the emissions of CO₂, a greenhouse gas, and is involved in the development and operation of biomass and wind power as well as solar power facilities.

At the time of publication of this report, the status of renewable energy introduction at the properties owned by the Investment Corporation is as follows.

Asset Property name Implementation Period
Office Hakata Gion Building October 2025
HAKATA REISENMACHI Building
Residential
(Common Areas)		 LUXENA HEIWADAI June–July 2025
LUXENA KACHIDOKI
LUXENA KADOMA
LUXENA TODAKOEN
LUXENA TODAKOENⅡ
LUXENA AKIHABARA
LUXENA MUSASHI-SHINJO
LUXENA NAGAREYAMA OOTAKANOMORI
LUXENA KITASENJU
LUXENA JOSHIN
LUXENA TOYOCHO
LUXENA HACHIOJI MINAMICHO
LUXENA KINSHICHO
LUXENA HEIWAJIMA
LUXENA HACHIOJI SHINCHO
LUXENA TABATA-KITA
LUXENA WAKO

*Renewable energy-based electricity supply is scheduled to commence at L.Biz Sendai and Jozenji-dori Square Building in April 2026.

Reduction of Greenhouse Gas Emissions

We are striving to create a shared power-saving culture through measures such as putting up awareness posters in common areas and tenants' private areas.

(Putting up power-saving awareness posters)

power-saving awareness poster 1
power-saving awareness poster 2
power-saving awareness poster 3

Reducing Water Consumption

At one of the properties in the portfolio, NT Building, rainwater is reused as flushing water in the bathrooms. Furthermore, we are striving to promote the conservation of water resources on an ongoing basis, such as completing work to install water-saving packing at 7 of the portfolio properties and pursuing awareness activities aimed at tenants.

(Displaying water-conservation posters)

water-conservation poster

Waste Reduction

As an initiative to reduce waste in office buildings, we are pursuing awareness activities aimed at tenants in collaboration with property and building managers.

(Displaying awareness posters)

3R awareness poster 1
3R awareness poster 2
3R awareness poster 3