Toyota Tsusho Corporation (Toyota Tsusho) and SoftBank Group Corp have announced the completion of Toyota Tsusho’s acquisition of 85% of the shares of SB Energy Corp from SBG. The acquisition will see SB Energy being renamed Terras Energy Corporation and becoming a subsidiary of Toyota Tsusho with 85% stock ownership ratio, while SBG will hold a 15% stock ownership ratio. The two companies will explore collaborative efforts in renewable energy businesses, aiming towards achieving carbon neutrality.
With Terras Energy joining the Toyota Tsusho Group, it will become one of Japan’s largest power generators, with approximately 4,502 MW, including 3,182 MW of wind power and 1,020 MW of solar power, etc. Toyota Tsusho will also accelerate the creation of new businesses and the evolution of technology in the renewable energy sector through the utilization of Terras Energy’s cutting-edge renewable energy technologies.
SBG aims to achieve carbon neutrality by fiscal 2030 and will continue to focus on technological advancement in renewable energy through the collaboration of group companies of both parties. It will also generate renewable electricity in the United States through SB Energy Global Holdings Limited and invest in technologies concerning renewable energy through funds within the SoftBank Group.
*Important note: SB Energy Global Holdings Limited is a separate entity that operates entirely in the United States and is not impacted by this transaction.