TEPCO Starts Seeking Business Partners

Tokyo, Feb. 2 (Jiji Press)--Tokyo Electric Power Company Holdings Inc. said Monday that it has started accepting applications for business partners, including tie-ups involving externally raised capital.

Forming corporate partnerships is part of the power company’s new business turnaround plan announced at the end of last month.

TEPCO plans to accept such applications via its official website until the end of March from both domestic and foreign firms, regardless of their business sectors. Through this initiative, it aims to secure funds for investments in decarbonization and data centers.

Possible tie-up partners include investment funds both from Japan and overseas, with TEPCO eyeing investments in its subsidiaries and a massive reorganization, including establishing an intermediate holding company.

The applications will be examined by a new committee chiefly comprised of independent directors.

[Copyright The Jiji Press, Ltd.]