Renova boosts Karatsu Biomass stake to achieve consolidation

Renova Inc. announced its decision to acquire an additional equity interest in Karatsu Biomass Energy G.K. (Karatsu City, Saga Prefecture), a biomass electric power generation business with an installed capacity of 49.9 MW. This acquisition increases Renova's equity interest in Karatsu GK from 35.0% to 51.0%, making it a consolidated subsidiary. The acquisition price for the additional 16.0% equity interest was 613 million yen.

This move follows Renova's exercise of a right to take over equity interest from an equity partner, JA Mitsui Leasing, Ltd., upon the completion of Karatsu GK's power plant and its delivery from EPC. JA Mitsui Leasing, Ltd. previously held a 16.0% stake.

The financial impact of this acquisition for the fiscal year ending March 31, 2026, is already reflected in Renova's consolidated business results forecast released on May 12, 2025. Renova will file an extraordinary report with the Kanto Local Finance Bureau regarding this transaction.