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Press Release

Announcement on Acquisition of Entire Ownership of Eco Power Co., Ltd. (Wind Power Generation Business)
and Change of The Company Name

May 28, 2019
Cosmo Energy Holdings Co., Ltd.

Cosmo Energy Holdings Co., Ltd. (Representative Director, Group CEO: Hiroshi Kiriyama; hereinafter, “Cosmo Energy Holdings” ) announces, as described below, that Eco Power Co., Ltd. (President and Representative Director: Toshiyuki Mizui; hereinafter, “Eco Power”), became a wholly owned subsidiary as of April 1, 2019 and will change its company name to Cosmo Eco Power Co., Ltd. on July 1, 2019.

1.Background

Eco Power has been a driving force for Renewable Energy Business in Cosmo Energy Group since it joined the group in 2010. In 2018, when Cosmo Energy Group started the 6th Consolidated Medium-term Management Plan (FY2018 - FY2022) under the slogan of “Oil & New”, Eco Power's wind power generation was explicitly positioned as main segment of “New” business, and it is now making a step to expand onshore wind power generation field and to develop offshore field. In the long term, Cosmo Energy Group will focus on renewable energy to strengthen our business portfolio, with aim to become a leading company in offshore wind power generation.


In line with the management plan and vision, Cosmo Energy Holdings made Eco Power its wholly owned subsidiary on April 1, 2019, to enhance the Group management further, and to promote Eco Power's business with an even closer relationship with Cosmo Energy Holdings.


Using this opportunity, Eco Power renames its company to Cosmo Eco Power Co., Ltd. from July 1, 2019. This is aimed at having all the stakeholders, such as shareholders, investors, and local communities, understand that Eco Power is a company that shapes the future of the Cosmo Energy Group.

2.Outline of Eco Power

(1)Name (Previous name) Eco Power Co., Ltd.
(New name) Cosmo Eco Power Co., Ltd. *Date of the change: July 1, 2019
(2)Location TOC Osaki Bldg., 1-6-1 Osaki, Shinagawa-ku, Tokyo, Japan
(3)Name and title of representative Toshiyuki Mizui, President & Representative Director
(4)Business descriptions
  • Sales of wind turbines electricity
  • Management of wind power generation business, including joint ventures, and provision of guidance on the business
  • Collection, processing, analysis, and scrutiny of data related to wind direction, speed, noise, and others, and provision of related outsourcing services
  • Operation Services for self-owned and other companies' wind turbines
  • Maintenance and repair of wind turbines and provision of related outsourcing services
(5)Capital stock 7,164,800,000 yen
(6)Date of foundation July 1, 1997
(7)Major equity holders and equity holding ratios Cosmo Energy Holdings Co., Ltd.: 100%

3.Financial impact

There is no change other than the company name change of Eco Power. The financial impact of the acquisition of 100% ownership of Eco Power on April 1, 2019 has already been factored into the Consolidated Business Forecast for FY2019 that was announced on May 9, 2019.

(Contact details for inquiries)
Public Relations & Corporate Branding Group, Corporate Communication Dept., Cosmo Energy Holdings Co., Ltd.
Mr.Tamura / Ms.Masuda TEL +81-3-3798-3101 FAX +81-3-3798-3841

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