Toyota Tsusho Corporation (TSE:8015) agreed to acquire remaining 40% stake in Eurus Energy Holdings Corporation from Tokyo Electric Power Company Holdings, Incorporated (TSE:9501) for approximately ¥190 billion on May 26, 2022. Under the transaction, Toyota Tsusho will acquire the remaining 9,911 stocks, representing 40% stake of Eurus. As a result of the transaction, Eurus will become the wholly owned entity of Toyota Tsusho Corporation. The transaction was resolved as the meeting of the board of directors of Toyota Tsusho Corporation held on May 26, 2022. The transaction is subject to all necessary procedures including approvals. The execution is to be immediately processed after June 2022. BofA Securities Japan Co., Ltd. served as financial advisor to Tokyo Electric Power Company Holdings, Incorporated (TSE:9501). J.P. Morgan acted as exclusive financial advisor to Toyota Tsusho Corporation.

Toyota Tsusho Corporation (TSE:8015) acquired remaining 40% stake in Eurus Energy Holdings Corporation from Tokyo Electric Power Company Holdings, Incorporated (TSE:9501) on August 1, 2022.