Press Releases 2015

Today, Tokyo Electric Power Company Incorporated ("TEPCO") announces that it has purchased the entire 15% stake of Mitsui & Co., Ltd. ("Mitsui") in ITM Investment Company Limited ("ITMI Company"). ITMI Company was established in 2003 by Tokyo Electric Power Company International B.V. (a 100% subsidiary of TEPCO), Mitsui and International Power plc (now "ENGIE") to participate in the Umm Al Nar Power and Water Project ("Project") in the UAE.

Since TEPCO began its participation in the Project, the power plant and desalination facilities have been operating well and the Project has been realizing high profitability. TEPCO believes that this acquisition and subsequent share increase from 35% to 50% in ITMI Company (equivalent to a 14% to 20% increase for the entire Project) will bring TEPCO's overseas business a stable profit for a long period of time.

TEPCO plans to expand its overseas IPP investment business and, by concluding the acquisition, TEPCO intends to contribute to the development of the region by utilizing its generation technology and know-how in regard to the operation of power plants, which the company has gained over many years. Moreover, in order to realize the revitalization of Fukushima, TEPCO aims to further strengthen its revenue base and enhance profitability by promoting overseas thermal power generation businesses.