Tokyo Energy & Systems affirms independence from TEPCO Group
Tokyo Energy & Systems (TSE:1945) has addressed its relationship with its parent company, Tokyo Electric Power Company Holdings (TEPCO), and its subsidiaries. While TEPCO remains a significant client, accounting for 24.1% of Tokyo Energy & Systems’ sales, the company asserts that its management operates independently. Key operational decisions are made by Tokyo Energy & Systems, without restrictions imposed by TEPCO or its group companies. Although two of its ten board members have previously worked for TEPCO, the firm maintains that contracts are negotiated at fair market value.
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