Toyota Tsusho boosts renewable energy investment, AEOLUS becomes specified subsidiary

Toyota Tsusho Corporation is increasing its investment in AEOLUS SAS, a joint venture established in March 2024 with CFAO SAS and Eurus Energy Holdings Corporation, to accelerate renewable energy projects in Africa. The additional capital contribution, totaling €13.8 million from CFAO and Eurus Energy, will raise AEOLUS's capital to €50.2 million, exceeding 10% of Toyota Tsusho's capital. This strategic move designates AEOLUS as a specified subsidiary.

AEOLUS, based in Boulogne-Billancourt, France, combines CFAO's African business network with Eurus Energy's renewable energy expertise to develop and operate independent power producer (IPP) projects, including solar and wind power, across the continent. Hideharu Toba serves as AEOLUS's chief executive. Toyota Tsusho indirectly holds 100% of AEOLUS, and four of its officers also serve as AEOLUS officers.

Financially, AEOLUS reported consolidated total equity of €7.5 million for the fiscal year ended March 31, 2024, rising to €32.5 million by March 31, 2025. Consolidated total assets followed a similar trend. The company reported €0 in consolidated net sales for both periods and a profit attributable to owners of parent of €0 for March 31, 2024, shifting to -€2.9 million by March 31, 2025. Toyota Tsusho anticipates a negligible impact on its consolidated performance for the fiscal year ending March 2026.