Kyushu Electric Power to become holding company for optimized group management

Kyushu Electric Power Company, Inc. announced its decision to proceed with preparations for transitioning to a pure holding company system. This move, building on a July 31, 2024, announcement, seeks to establish a group structure focused on "overall optimization" and "autonomous and prompt business operations" while prioritizing nuclear safety. The new holding company, without its own business operations, will oversee group management and resource allocation.

The transition involves establishing a new holding company as the sole parent through a sole-share transfer, which will lead to the delisting of Kyushu Electric Power's shares. However, the holding company plans to apply for a new listing (technical listing) on the Tokyo Stock Exchange and Fukuoka Stock Exchange to maintain effective share listing. The company also intends to transfer its hydropower generation and urban development businesses to Kyuden Mirai Energy Company, Inc. and a new urban development company, respectively, via absorption-type company splits.

Additionally, Kyushu Electric Power plans to transfer its shares in key subsidiaries, including Kyushu Electric Power Transmission and Distribution Co., Ltd., Kyuden Mirai Energy Company, Inc., Kyuden International Corporation, QTnet, Inc., and the new Urban Development Company, to the holding company through an absorption-type company split. Further details regarding the transfer ratio, company names, and specific schedules will be announced upon finalization.