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TEPCO Power Grid, Chubu Electric Power and ICMG to Establish Joint Venture in Singapore— Targeting project investment, new-business incubation and global training —

Jun 29, 2018

TEPCO Power Grid, Inc.
Chubu Electric Power Co., Inc.
ICMG Co., Ltd.

TOKYO, Japan, June 29, 2018 — TEPCO Power Grid, Inc., Chubu Electric Power Co., Inc. and ICMG Co., Ltd announced today that they have agreed on the basic terms for establishing a joint venture in Singapore in July. The collaboration is expected to facilitate opportunities for global electricity transmission and distribution, project investment, new business and global training.

TEPCO PG, which views global business expansion as a key growth strategy, believes that the fast-growing Asian market offers promising opportunities to significantly improve the company’s corporate value. Chubu Electric Power is enhancing its revenue base by expanding its domestic and global energy businesses and entering new fields with growth potential.

The joint-venture company will leverage synergistic technologies and high-quality operations developed by TEPCO PG and Chubu Electric Power in Japan and complementary strengths of ICMG, including its robust partnership network and intellectual capital. In addition to identifying opportunities to invest in existing projects and incubate new businesses, the company will organize a “leadership innovation” program aimed at nurturing globally capable leaders skilled in investment and new business development.

New Joint-venture Company

Name To be announced later
Location Singapore
Date of establishment July, 2018 (Planned)
Capital 450 million JPY
President & CEO To be announced later
Businesses
  1. Project Investment and Operation
    Invest in and commercialize promising business opportunities such as electricity transmission and distribution projects, and next-generation infrastructure.
  2. Incubation of new business
    Helping to accelerate the commercialization of customer’s new business ideas.
  3. Global training for personnel
    Global training for personnel by utilizing the ICMG’s original program aimed at nurturing globally capable leaders skilled in new business development.

Three Partners

TEPCO Power Grid, Inc.

TEPCO Power Grid Inc. is a wholly owned subsidiary of Tokyo Electric Power Company Holdings, Inc. engaged in electric power transmission and distribution. It maintains one of the most stable power supplies in the world, including an average annual outage rate of 0.06 per household and outage time of 6 min per household (both figures FY2015 actual), based on highly reliable equipment and advanced technology.

Location:             1-1-3 Uchisaiwai-cho, Chiyoda District, Tokyo, Japan
Capital:                80 billion JPY
Businesses:          General electricity transmission, real estate and power generation businesses on remote islands
Website:              http://www.tepco.co.jp/pg/index-j.html

Chubu Electric Power Co., Inc.

Chubu Electric Power, based in Nagoya, is the third-largest electric power utility in Japan. Its main generation facilities include nuclear, thermal and hydro power, which have a total capacity of 33GW. Transmission and distribution lines total 12,000 km and 130,000 km, respectively. Chubu Electric Power has been diversifying beyond electric power supply with new business in gas supply, on-site energy business, overseas consulting and investment, real estate management service and IT business.

Location:             1 Higashi-shincho, Higashi-ku, Nagoya, Aichi, Japan
Capital:                430.7 billion JPY
Businesses:          Electricity and related businesses, gas supply, thermal storage contracting, dispersed energy, overseas consulting/investment, real estate management, IT, etc.
Website:              http://www.chuden.co.jp/index.html?cid=lg

ICMG Co., Ltd.

ICMG is a management consulting company that supports corporate leadership development and new business creation driven by intellectual capital management. Rather than focusing on short-term profits, the company offers practical consulting services designed to achieve sustainable growth.

Location:             21st Floor, Hibiya U-1 Bldg., 1-1-7 Uchisaiwai-cho, Chiyoda District, Tokyo, Japan
Capital:                318.25 million JPY
Businesses:          Corporate consulting, business co-development, business ecosystem construction, managerial personnel development, etc.
Website:              https://www.icmg.co.jp/

FOR MEDIA INQUIRIES

Tokyo Electric Power Company Holdings, Inc.
Corporate Communications Office
Tel: +81-(3)-6373-1111 (operator)

Chubu Electric Power Co., Inc.
Corporate Communications Office
Tel: +81-(52)-961-3582

ICMG Co., Ltd.
Corporate Communications Office
Tel: +81-(3)-6858-3211

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