Eurus Energy Holdings Corporation
The Tokyo Electric Power Company, Incorporated
Toyota Tsusho Corporation
Eurus Energy Holdings Corporation ("Eurus Energy", President and CEO, Tetsuro Nagata)
passed a resolution at the Extraordinary General Shareholders Meeting and Board of
Directors meeting held on January 27, 2010 to make a capital increase of 25,000 million
yen through shareholders allotment to the Tokyo Electric Power Company, Incorporated
("TEPCO", President, Masataka Shimizu) and Toyota Tsusho Corporation ("Toyota Tsusho",
President, Junzo Shimizu), the existing shareholders of Eurus Energy, both of which
will act as the subscribers.
It should be noted that there will be no change in their percent equity interests
(TEPCO: 60%; Toyota Tsusho: 40%) in Eurus Energy due to the capital increase and the
existing shareholders will acquire new shares according to their respective percent
equity interests.
· Details of the capital increase through shareholders allocation
(Expected date of capital increase: February 15, 2010)
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Eurus Energy as the largest Japanese and world leading wind power generation company
has been engaged in wind power generation business in Europe, the United States and
the Asian region up to the present. On the basis of the strengthening of its financial
base to be caused by the upcoming capital increase through shareholders allocation,
Eurus Energy will aim at improving a business expansion and profitability by working
positively on photovoltaic power generation business as well as wind power generation
business.
TEPCO identifies a contribution to building up low-carbon society as one of its
important management issues. The entire TEPCO group will make concerted efforts to
press forward with the development and spread of renewable energy as well as provide
support to Eurus Energy.
Toyota Tsusho identifies a business making use of electric power and renewable energy
as a priority area. In particular, Toyota Tsusho began to work on wind power generation
business as early as in the second half of the 1980's and has established its present
position. Toyota Tsusho will redouble its efforts to achieve continued growth.
Appendix: Profile of Eurus Energy Holdings Corporation (PDF 14.9KB)