Tokyo Gas Reaches Share Sale Agreement with Iwatani Corporation







April 27, 2022

Tokyo Gas Reaches Share Sale Agreement with Iwatani

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Tokyo Gas Co., Ltd.

Tokyo Gas Co., Ltd. (Chairman: UCHIDA Takashi, hereinafter “Tokyo Gas”) has agreed to transfer all interests in Tokyo Gas Energy Co., Ltd. (Chairman: NAKAMURA Hisashi, hereinafter “TG Energy”) (66.6% of outstanding shares) and Tokyo Gas LPG Terminal Co., Ltd. (Chairman: NAKAMURA Hisashi) (49.0% of outstanding shares) held by Tokyo Gas Liquid Holdings Co., Ltd. (Chairman: YASUOKA Satoru) to Iwatani Corporation (Chairman: MAJIMA Hiroshi, hereinafter “Iwatani”), and entered into a share sale agreement with Iwatani. The share transfer agreement is expected to be finalized by June 2022.

Since its founding in 1960, TG Energy has provided complete solutions with liquefied petroleum gas (LPG), a distributed energy, to its customers in the Kanto and Tokyo metropolitan areas. In recent years, while promoting the shift to smart meters, TG Energy has improved the efficiency of logistics networks, contributing to the realization of a sustainable society.

When TG Energy joins the Iwatani Group, which operates the LPG business across Japan, a wide range of synergy effects can be expected, including steady supply of LPG as well as increased business efficiency and logistics. and streamlined business operations, by strengthening the linkage of gas supply, wholesale and sales functions between the two companies. Considering these synergy effects, Tokyo Gas and Iwatani have reached an agreement on this share transfer.

The Tokyo Gas Group will continue to contribute to achieving carbon neutrality, while aiming to build an optimal business portfolio as a leader in promoting the diffusion and expansion of gas-based energy in Japan and abroad.

*Tokyo Gas Energy Co., Ltd. and Tokyo Gas LPG Terminal Co., Ltd. will change their company name following the transfer of shares.

Tokyo Gas Liquid Holdings Co., Ltd.

Activity area

A holding company

Establishment

April 2016

Representing

YASUOKA Satoru

Address

Shiba B-6F Park Building, 2-4-1 Shibakoen, Minato-ku, Tokyo

Number of employees

4*1

Affiliated companies

Tokyo Gas Chemicals Co., Ltd., Tokyo Gas Energy Co., Ltd., Japan Super Freeze Co., Ltd., Gascrew Corporation

Tokyo Gas Energy Co., Ltd.

Activity area

Wholesale of liquefied petroleum gas (LPG) (including distributors), direct sale of LPG (to households, businesses, local authorities and industries), sale of LPG for cars and other businesses ( sale of gas appliances, installation work, etc.) .)

Establishment

February 1960

Representing

NAKAMURA Hisashi

Address

Shiba B-6F Park Building, 2-4-1 Shibakoen, Minato-ku, Tokyo

Number of employees

273*1

Affiliated companies

Enelife Carrier Co., Ltd., Tokyo Auto Gas Co., Ltd., Tokyo Gas LPG Terminal Co., Ltd.

Tokyo Gas LPG Terminal Co., Ltd.

Activity area

LPG Storage and Shipping

Establishment

August 2004

Representing

NAKAMURA Hisashi

Address

Shiba B-6F Park Building, 2-4-1 Shibakoen, Minato-ku, Tokyo

Number of employees

16*1

*1: As of April 2022

Warning

Tokyo Gas Co.Ltd. published this content on April 27, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on April 27, 2022 05:04:17 UTC.

Public now 2022

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2022 sales 2,085B
16,368M
16,368M
2022 net income 78,220M
614M
614M
Net debt 2022

PER 2022 ratio 12.9x
2022 return 2.83%
Capitalization 1008B
7,912 million
7,912 million
capi. / Sales 2022 0.48x
capi. / Sales 2023 0.43x
# of employees 16,858
Floating 94.4%

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Number of analysts 5
Last closing price ¥2,293.00
Average target price ¥2,737.50
Average Spread / Target 19.4%


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