Tokyo Gas Co. to Wind Up Australian Subsidiary, Plans New Energy Ventures

The latest update is out from TOKYO GAS Co ( (JP:9531) ).

Tokyo Gas Co., Ltd. has announced the voluntary winding up of its wholly-owned subsidiary, Tokyo Gas Australia Pty Ltd, following the transfer of its Australian project holdings to MidOcean Energy Holdings Pty Ltd. This move will result in an extraordinary income of approximately 65 billion yen due to foreign currency translation adjustments. The company plans to establish a new subsidiary, Tokyo Gas Energy Australia Pty Ltd, to explore energy-related businesses beyond its existing operations, contributing to a sustainable society in Japan and Australia.

The most recent analyst rating on (JP:9531) stock is a Hold with a Yen4840.00 price target. To see the full list of analyst forecasts on TOKYO GAS Co stock, see the JP:9531 Stock Forecast page.

More about TOKYO GAS Co

Tokyo Gas Co., Ltd. operates in the energy sector, focusing on natural gas and related services. It is a prominent player in the Japanese market, with a strong emphasis on expanding its energy-related businesses to support a carbon-neutral society.

Average Trading Volume: 1,724,333

Technical Sentiment Signal: Buy

Current Market Cap: Yen1763.2B

For detailed information about 9531 stock, go to TipRanks’ Stock Analysis page.