Toyota Tsusho to Acquire 85% of SB Energy Shares
Maximizing synergies in the renewable energy businesses of both companies to accelerate Carbon Neutral initiatives
SoftBank Group Corp.
Toyota Tsusho Corporation (“Toyota Tsusho”) and SoftBank Group Corp. (“SBG”) today agreed to a transaction (“Transaction”) pursuant to which Toyota Tsusho will acquire an 85% stake in SB Energy Corp. ("SB Energy"), a Japanese wholly-owned subsidiary of SBG, with the aim of maximizing synergies in the renewable energy businesses of both companies and their group companies.
SBG established SB Energy in October 2011 in response to the Great East Japan Earthquake that struck on March 11, 2011, and has since constructed and operated a total of 773.0MW in Japan (as of January 2023), including 667.1MW of solar power and 55.9MW of wind power, as well as abroad, including 50MW of wind power in the Gobi Desert, Mongolia. SBG has managed to build a model case for the promotion of renewable energy which is a safe, secure source of power with continuous supply, and has also contributed to an increase in the volume of renewable energy adopted in Japan and beyond. SBG has also undertaken leading-edge businesses that have strong affinity with the Toyota Tsusho Group, such as the Bits business, which is an energy platform construction operation including VPP projects, and the Mobility business, building new business models through energy time-shifting by coordinating the use of renewable energy and electric vehicle batteries or stationary power storage systems. Furthermore, the SoftBank Group is engaged in renewable electricity generation in the United States through SB Energy Global Holdings Limited* and is investing in technologies concerning renewable energy through funds within the SoftBank Group. Through these efforts and the collaboration explored involving group companies of both parties, SBG aims to realize a decarbonized society with its group goal of “Achieving Carbon Neutrality by Fiscal 2030,” and will continue to focus on the technological advancement in the renewable energy front.
Ichiro Kashitani, President & CEO, Toyota Tsusho said,
“I am confident that SB Energy's expertise in advanced efforts will provide us the opportunity to further promote our Carbon Neutrality efforts in an unparalleled way. The Toyota Tsusho Group will continue to contribute to the realization of a decarbonized society to pass on a better global environment to the future generations.”
Masayoshi Son, Representative Director, Corporate Officer, Chairman & CEO, SoftBank Group Corp. and Director & Chairman, SB Energy, said,
“The Great East Japan Earthquake has driven us to establish SB Energy to build a model case for the promotion of renewable energy and also contribute to an increase in the volume of renewable energy. We are delighted to work with Toyota Tsusho, a leading company in the industry, to take the promotion of renewable energy to the next level toward further growth in the future.”
Overview of SB Energy Corp.
|Company name||SB Energy Corp.|
|Location||TOKYO PORTCITY TAKESHIBA Office Tower, 1-7-1 Kaigan, Minato-ku, Tokyo|
|Established||October 6, 2011|
|Representative||Shigeki Miwa, Representative Director & CEO|
|Business description||1. Generating and storing electricity from renewable energy sources, etc., supplying and selling electricity and heat.|
2. Installing, selling, operating, and maintaining equipment used for generating and storing electricity from renewable energy sources, etc.
3. Planning, producing, and operating various events related to renewable energy, etc.
4. Researching and providing information related to renewable energy, etc.
5. Services related to adjusting the supply and demand of electric power.
6. Investing in, acquiring, holding, and using securities.
7. Buying and selling, leasing, broking, and managing real estate, and other services related to real estate. 8. Dealing in secondhand articles and services related to brokerage thereof.
9. Granting monetary loans, mediating monetary loans, guaranteeing obligations, financial instruments business, and other financial businesses.
10. Providing various services, and training and consulting services pertaining to the preceding items.
11. Other services incidental to the preceding items.
Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.