At Ant Capital Partners, we are taking ongoing steps to reduce our environmental footprint as part of our commitment to sustainability. We recognize climate change as a critical issue and are promoting initiatives to reduce greenhouse gas (GHG) emissions not only from our own operations but across our entire value chain by quantifying emissions and promoting reduction measures.

■ Scope 1 and Scope 2 (Emissions from our own operations)

In FY2022, we reached net-zero emissions for Scope 1 and 2, thanks to our transition to a renewable-energy-powered office building (the Marunouchi Building). *
We will continue to promote energy conservation and reduce electricity usage.

*Reference: Mitsubishi Estate Group – List of Buildings Using Renewable Energy

■ Scope 3 (Emissions from the entire value chain)

In FY2024, we carried out a comprehensive assessment of all Scope 3 emissions to better understand our total climate impact.

The majority of our GHG emissions are concentrated in “Scope 3 – Category 15 (Investments).” Accordingly, we are working closely with our portfolio companies to promote emissions calculations and reductions. In FY2024, we obtained primary emissions data from approximately 40% of our portfolio companies. For companies without primary data available, we estimated emissions using carbon intensity per unit of revenue, based on their sector.

Going forward, we aim to support portfolio companies in calculating their emissions using accurate primary data and in reducing their footprint in ways that also drive business value.

■ GHG Emissions Summary                                                                                                                   
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　       (Unit: t-CO₂e)

Note:

-Totals may not match exactly due to rounding.
-Scope 3 Categories 1–7 include emissions from upstream activities such as:

• Purchased goods and services (Category 1)
• Capital goods (Category 2)
• Fuel- and energy-related activities not included in Scope 1 or 2 (Category 3)
• Upstream transportation and distribution (Category 4)
• Waste generated in operations (Category 5)
• Business travel (Category 6)
• Employee commuting (Category 7)

-Scope 3 Categories 8–14 are not applicable due to the nature of our business.

-Scope 3 Category 15 is emissions associated with investment activities.

■ Notes on GHG Emission Calculations

Calculation Period
April 1 to March 31 of each fiscal year

Scope of Calculation
Ant Capital Partners Co., Ltd. (Consolidated)

Emission Factors Used

• Calculation methods and emission factors under the “GHG Emissions Accounting, Reporting, and Disclosure System” (Japan)
• Emission intensity database for calculating GHG emissions through supply chains (Ver. 3.5)
• LCI Database “IDEA version 2.3” by the National Institute of Advanced Industrial Science and Technology (AIST), IDEA Lab, Safety Science Division

※Calculations are conducted in accordance with the internationally recognized “GHG Protocol” and the Ministry of the Environment’s relevant guidelines in Japan.

■ About Scope 3 – Category 15 (Investments)

• Calculations are conducted in accordance with the “Practical Guide for Decarbonization Based on Portfolio Carbon Analysis for Financial Institutions.”
• For portfolio companies with available data, Scope 1 and 2 emissions are calculated using primary data.
• For companies without primary data, emissions are estimated using revenue-based emissions intensity benchmarks for each sector, adjusted by our investment share.
• Calculations are based on the portfolio holdings as of the end of March 2025.