Toyota Tsusho Completes Acquisition of 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 announced the completion of Toyota Tsusho’s acquisition of 85% of the shares of SB Energy Corp. ("SB Energy") from SBG. Consequently, SB Energy has been renamed Terras Energy Corporation ("Terras Energy") and has become a subsidiary of Toyota Tsusho with 85% stock ownership ratio and an affiliate of SBG with 15% stock ownership ratio.
Toyota Tsusho and SBG are exploring collaborative efforts among their group companies in the renewable energy businesses, such as joint development of renewable energy, electric power supply and demand adjustment, and so on, aiming toward achieving carbon neutrality.
With Terras Energy joining the Toyota Tsusho Group, the Group will become one of Japan's largest power generators not only in wind power, but also in solar power, with approximately 4,502 MW, including 3,182 MW of wind power and 1,020 MW of solar power, etc. (as of March 2023). Furthermore, Toyota Tsusho will promote initiatives for carbon neutrality by accelerating the creation of new businesses and the evolution of technology in the renewable energy sector through the utilization of Terras Energy's cutting-edge renewable energy technologies.
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 through the collaboration to be explored involving group companies of both parties, generating the renewable electricity in the United States through SB Energy Global Holdings Limited* and investments in technologies concerning renewable energy through funds within the SoftBank Group.
Important note: SB Energy Global Holdings Limited is a separate entity that operates entirely in the United States and is not impacted by this transaction.
Overview of Terras Energy Corporation
| Corporate Name | Terras Energy Corporation |
|---|---|
| Location | TOKYO PORTCITY TAKESHIBA Office Tower, 1-7-1 Kaigan, Minato-ku, Tokyo |
| Established | October 6, 2011 (Date of trade name change : April 28, 2023) |
| Representative | Hideyuki Inazumi, Representative Director & CEO |
| Shareholders | Toyota Tsusho Corporation : 85% SoftBank Group Corp. : 15% |
| 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. |
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