Chubu Electric Power Co.,Inc. | Establishment of Energy Sales Company in Tokyo Metropolitan Area: Providing New Value to Customers’ Daily Life and Business - Press Releases(2018)
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Press Release 2018

Establishment of Energy Sales Company in Tokyo Metropolitan Area: Providing New Value to Customers’ Daily Life and Business

February 27, 2018

Chubu Electric Power Co.,Inc.
Osaka Gas Co., Ltd.

Chubu Electric Power Co., Inc. (Headquarters: Higashi-ku, Nagoya City; President & Director: Satoru Katsuno) and Osaka Gas Co., Ltd. (Head Office: Chuo-ku, Osaka; Representative Director and President: Takehiro Honjo) today signed a joint venture agreement on establishing CD Energy Direct Co., Ltd., a new company to sell electric power, gas, daily customer life, and business-related services in the greater Tokyo area (hereinafter “the new company”). The planned incorporation of the new company is in April 2018.

Sales of electric power and gas for customers will start when preparations are completed. The new company will combine, and fully harness in the greater Tokyo area, the managerial resources and business know-how Chubu Electric Power and Osaka Gas have fostered over the years. With such an effort, the new company aims to maximize value provided to household and corporate customers, thereby contributing to society.

By marketing competitive electric power and gas, the new company will provide household customers with comfortable and convenient daily lives through optimum power and gas use. For corporate clients, electrification and combustion technologies will be fully harnessed to offer highly economic and environmentally-conscious business solutions. Further, the new company hopes to build new business models and offer new services that transcend the boundaries of an energy operator. This will be achieved by creating new value instrumental in customers’ daily life and in businesses with IoT-based services, the development of which is underway at both Chubu Electric Power and Osaka Gas.

The goal of the new company is to promote further development strategies through such efforts as collaborating with new partners, serving as a top-choice comprehensive energy operator for a greater number of customers.

[Overview of new company]

Company name

CD Energy Direct Co., Ltd.

Location of headquarters

Chuo-ku, Tokyo

Date of establishment

April 2, 2018 (Scheduled date)

Capital

1.75 billion JPY (Chubu Electric Power: 50%; Osaka Gas: 50%)

President and director

Shinji Ozu

Details of business

Sales of electric power, gas, daily customer life, and business-related services in the greater Tokyo area