Toyota Tsusho : Completes Stock Acquisition and 100% Ownership Acquisition of Eurus Energy Holdings
August 01, 2022 at 03:44 am EDT
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Machinery, Energy & Project
2022-08-01
Toyota Tsusho Corporation ("Toyota Tsusho") announced today that the stock acquisition announced on May 26, 2022 in "Notice regarding Stock of Eurus Energy Holdings Corporation" has been completed on August 1, which has allowed Toyota Tsusho to acquire 100% ownership of Eurus Energy Holdings ("Eurus").
Stockholder and stockholding ratio after completion of the stock acquisition
After Completion of Stock Acquisition
Before Completion of Stock Acquisition
Tokyo Electric Power Company Holdings, Inc.
-
40%
Toyota Tsusho Corporation
100%
60%
Total
100%
100%
The Toyota Tsusho group announced targets to reduce GHG emissions by 50% below 2019 levels by 2030 and achieve carbon neutrality by 2050 last July, and established the "Carbon Neutral Roadmap 2030" last November. Our group position the promotion of businesses that contribute to GHG reduction as an important strategy. The renewable energy business is one of its core businesses and it will continue to further accelerate the expansion of this business through the acquisition of 100% ownership of Eurus.
In order to pass on a better global environment to the children of future, Toyota Tsusho group continues contributing to the transition for a decarbonized society, promoting the carbon neutrality, through the industrial lifecycle.
Overview of Eurus Energy Holdings Corporation
Company name
Eurus Energy Holdings Corporation
Location
Minato-ku, Tokyo
Representative
President and CEO Hideyuki Inazumi
Business description
Wind and solar power project business
Website
https://www.eurus-energy.com/en
May 26, 2022 release: Notice regarding Stock of Eurus Energy Holdings Corporation (Acquire 100% Ownership)
https://www.toyota-tsusho.com/english/press/detail/220526_005995.html
The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.
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Toyota Tsusho Corporation published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 07:43:04 UTC.
Toyota Tsusho Corporation is a diversified group organized around 7 areas of activity:
- production of metal (24.1% of net sales): steel bars, flat steel, wires, pipes, aluminum, etc.;
- manufacturing of chemical products and electronic components (23.2%);
- production of automobile components and accessories (12.4%). Toyota Tsusho Corporation also offers logistics services and tire assembly services;
- manufacturing of industrial machines equipment and gas (10.9%);
- sale of vehicles (7.9%): private cars, vans, heavy vehicles and motorbikes/scooters. The group also sells spare parts and offers after-sales services;
- manufacturing of food products (7.7%);
- other (13.8%): sale of insurance products (life, health, accident and house), accommodation services, sale of medical equipment and services, sale of textile products and office supplies.
Net sales are distributed geographically as follows: Japan (30.8%), China (14.4%), Africa (13.7%), the United States (9.8%) and other (31.3%).
TOYOTA TSUSHO CORPORATION 
