Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Tokyo  >  Kansai Electric Power Co Inc    9503   JP3228600007

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Kansai Electric buying Orix Electric to widen Tokyo footprint

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/25/2017 | 04:27pm CET

Kansai Electric Power is set to acquire Orix Electric Power, a unit of financial services company Orix, according to sources.

The deal between the Japanese companies is estimated to be worth around 17.5 billion yen ($159 million).

Kansai Electric has been struggling on its home turf in western Japan since the country`s electricity market was fully liberalized last spring. The acquisition of the Tokyo-based Orix Electric, which sells power to condos, will expand the utility`s presence in the capital area -- and, it hopes, boost earnings.

Orix Electric was founded in 2010 by Orix and property developer Daikyo. It has about 80,000 customers in the Tokyo metropolitan area and the western part of the country. But it, too, has had a hard time building up its business, and since May it has been soliciting bids from potential buyers.

Kansai Electric, Osaka Gas and Tokyo Electric Power Co. Holdings, among others, expressed interest. Kansai Electric was the highest bidder, but it took time to finalize the sale, as the companies had to work out how to handle Orix Electric`s existing customer contracts and employees.

Orix owns 85.8% of Orix Electric, while Daikyo holds the rest. The plan is to have Orix Electric create a wholly owned power retailing subsidiary by splitting itself up. Then, Kansai Electric will acquire the unit`s shares.

Orix is to finalize the plan internally in early September, before inking the contract. Kansai Electric intends to send a director to Orix Electric.

Kansai Electric began selling power to households in the Tokyo area in July. It aims to win 100,000 retail customers there by the end of March 2019, but as of the end of June only 14,000 had signed on.

Since most of Orix Electric`s customers are in the capital region, the acquisition will bring Kansai Electric much closer to the target.

(c) 2017 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on KANSAI ELECTRIC POWER CO I
12/16 KANSAI ELECTRIC POWER : Japan power companies face surging nuclear fuel recyclin..
11/30 UPDATE1 : Kobe Steel data cheating to delay restart of 4 reactors for 2 months
11/30 Kansai Electric, Kyushu Electric delay nuclear plant restarts for Kobe Steel ..
11/30 KANSAI ELECTRIC POWER : Restart of Oi reactors may be delayed after Kobe Steel d..
11/29 Japan's Kyushu Elec likely to delay nuclear plant restart due to Kobe Steel c..
11/28 KANSAI ELECTRIC POWER : Fukui gov. agrees to N-plant restarts
11/27 KANSAI ELECTRIC POWER : Fukui governor OKs restart of two reactors at Oi plant
11/27 KANSAI ELECTRIC POWER : Local governor OKs restart of 2nd nuclear plant in Fukui..
11/27 KANSAI ELECTRIC POWER : Fukui gives OK to restart of Kansai Electrics Oi nuclear..
11/27 KANSAI ELECTRIC POWER : Fukui Gov. OKs restart of 2nd plant in prefecture
More news
News from SeekingAlpha
10/30 Kansai Electric Power Co., Inc. (The) ADR 2018 Q2 - Results - Earnings Call S..
2016 Despite Recent Windfall From Commodity Slump, TEPCO Remains Total Junk
Financials ( JPY)
Sales 2018 3 027 B
EBIT 2018 -
Net income 2018 138 B
Debt 2018 3 510 B
Yield 2018 2,23%
P/E ratio 2018 9,23
P/E ratio 2019 8,92
EV / Sales 2018 1,60x
EV / Sales 2019 1,62x
Capitalization 1 318 B
Chart KANSAI ELECTRIC POWER CO I
Duration : Period :
Kansai Electric Power Co I Technical Analysis Chart | 9503 | JP3228600007 | 4-Traders
Technical analysis trends KANSAI ELECTRIC POWER CO I
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 1 653  JPY
Spread / Average Target 18%
EPS Revisions
Managers
NameTitle
Shigeki Iwane President & Representative Director
Makoto Yagi Chairman
Tomihiko Oishi Director, Head-Research & Development
Yasushi Sugimoto Director & Head-Accounting
Hidehiko Yukawa Director & Managing Executive Officer
Sector and Competitors
1st jan.Capitalization (M$)
KANSAI ELECTRIC POWER CO INC9.90%11 701
DUKE ENERGY CORP12.81%61 484
DOMINION ENERGY INC9.82%54 642
SOUTHERN CO5.06%51 496
IBERDROLA4.56%48 847
EXELON CORPORATION15.89%39 145