TEPCO Establishes Subsidiary to Turn New Businesses into Venture Companies
27 Giugno 2018 - 11:00AM
JCN Newswire (English)
Tokyo Electric Power Company Holdings, Inc. (TEPCO) announced
today that it has established TEPCO Ventures, Inc. as a wholly
owned subsidiary charged with turning new businesses into venture
companies. TEPCO Ventures, which will begin operating on July 2,
will develop both wholly owned subsidiaries within the TEPCO Group
and joint-venture companies formed with partners in various
industries either in Japan or overseas.
New companies are expected to be developed in a variety of fields
for next-generation "Utility 3.0" business fusing energy and other
industrial platforms, such as distributed energy, solutions based
on storage batteries, infrastructure utilizing drones, IoT
technologies for location services especially for children and
seniors, and power infrastructure beyond the scope of
electricity.
Electricity utilities and the broader utility industry have been
subjected to sharp changes as a result of the "5Ds" - deregulation,
decentralization, decarbonization, digitalization and decreasing
population. To adapt to these changes for long-term business
sustainability, TEPCO's New Business Task Force so far has been
investing in domestic and overseas ventures offering advanced
business models and commercializing promising ideas from both
inside and outside of TEPCO.
Going forward, however, TEPCO decided that it requires a more
robust ecosystem to maximize the benefits of its new business
development, including by increasing the speed of project
development and the probability of success. As a result, it will
replace its New Business Task Force with TEPCO Ventures, a
subsidiary dedicated to business creation through quick
decision-making and strategic allocation of corporate
resources.
Under its mission statement, "Developing the future of utilities
together," TEPCO Ventures will cooperate with core companies and
other members of the TEPCO Group to create new value for society
while strengthening the group's overall business portfolio and
earning power.
Overview
Name: TEPCO Ventures, Inc.
Establishment: May 31, 2018
Location: 1-14-1 Kandasudacho, Chiyoda-ku, Tokyo, 101-0041,
JAPAN
President & CEO: Shinji Akatsuka
Capital: 5 million yen (business development budget: 10 billion
yen)
Equity: 100% owned by Tokyo Electric Power Company Holdings,
Inc.
Business: Develop, and invest in, and support new businesses
Website: https://www.tepcoventures.co.jp
About TEPCO
Tokyo Electric Power Company Holdings, Inc. (TSE:9501),
headquartered in Tokyo, Japan, is the largest utility in Japan
serving millions of homes and businesses. Worldwide the company has
more than 34 subsidiaries and 32 affiliates in 8 countries and
employs approximately 42,060 people. Consolidated revenue for the
fiscal year ending March 31, 2017, totaled 5.3 trillion Japanese
yen. The company was established in 1951 and is listed on the First
Section of the Tokyo Stock Exchange. For more information visit
http://www.tepco.co.jp/en/
For more information, please contact:
Tokyo Electric Power Company Holdings, Inc.
Corporate Communications Office., International Public Relations
Group
+81-3-6373-1111
Source: TEPCO
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