Tokyo Gas to consolidate power generation via subsidiary split

Tokyo Gas (TSE: 9531) announced today that it will execute a company split to consolidate its gas engine power generation business under its subsidiary, Tokyo Gas Corza Power. The transfer of assets and associated rights and obligations related to the Sodegaura power plant's generation business will be completed through a simplified absorption-type split. The effective date of the split is scheduled for July 1, 2025. As Tokyo Gas Corza Power is a wholly-owned subsidiary, no new shares will be issued, and no other compensation will be provided. Tokyo Gas anticipates that this restructuring will streamline operations and improve overall group efficiency. The company expects the impact on its consolidated financial results to be minimal. As of March 31, 2025, the assets to be transferred have been valued at JPY 14.769 billion.