Invested through	Triodos Pioneer Impact Fund Triodos Multi Impact Fund Triodos Impact Strategy Fund - Defensive Triodos Impact Strategy Fund - Balanced Triodos Impact Strategy Fund - Offensive Triodos Impact Strategy Fund - Dynamic
Asset Classes	Listed equity
Impact strategy	Impact Equities and Bonds
Bloomberg ticker	9616 JP
ISIN code	JP3253900009
Industry group	Hotels, Restaurants & Leisure
Aligned with SDGs

Kyoritsu Maintenance is a Japanese company active in the hotels, restaurants & leisure industry. Founded in 1979, the company operates student dormitories (30% of sales), hotels (40%), Japanese onsen (hot spa) resorts (20%) and provides food services to schools, hospitals and nursing homes (10%). The company is particularly known for its regional fresh food offering at its hotels and resorts. In the hotels around 30% of customers are foreign tourists while the resorts are mainly visited by Japanese families.

Investment rationale

Kyoritsu Maintenance provides decent and affordable housing to 40,000 students and young professionals. Through the development and operations of onsen resort hotels the company is stimulating rural economies by providing employment and sourcing fresh food from local farmers. Onsens are Japanese hot springs where the hot water contains many minerals that can have various health benefits. In the food service business the company has public-private partnerships with local government, hospitals, schools and nursing homes to provide healthy and fresh lunches and dinners.

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Impact Equities and Bonds

The SDGs mentioned in the company sections are linked to the (main) transition theme that the company contributes to, not directly to its products or services. Refer to the Sustainability Annex in the prospectus for more information.

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