Latest news with #EijiSato
Bloomberg
17 hours ago
- Business
- Bloomberg
Japan Chemicals Firm CEO Fights to Keep Job as Investors Revolt
In a sign of rising shareholders' activism, a president of a semiconductor material maker is at risk of getting voted out of office at the firm's annual general meeting Saturday. Eiji Sato is facing an uphill battle to be re-appointed as president and CEO of Taiyo Holdings Co., a position he has held since 2011, after some shareholders criticized his response to various acquisition proposals as being too slow.
Japan Times
5 days ago
- Business
- Japan Times
Taiyo to decide on delisting as early as August, president says
Taiyo Holdings will decide on proposals from several private equity funds — and whether to delist — after a shareholder meeting this month in which its president, Eiji Sato, is likely to face a vote on his ouster. The Japanese chemical manufacturer will decide on the proposals in August at the earliest, Sato said in an interview. The company is reviewing formal proposals for capital alliances, including privatization, from fewer than five private equity funds, and a special committee is examining whether the acquisition terms are fair, he said. Taiyo is set to hold its annual shareholders' meeting on Saturday, and the conference may become heated. DIC, the company's largest stockholder and capital alliance partner, has said it intends to vote against the reappointment of Sato as a board director. It cited insufficient responses from Sato and the board of directors to various proposals, including delisting, as the reason behind its decision. "We were not informed of DIC's announcement and were surprised,' Sato said. He said that the formal privatization proposals were received in February and were presented in a timely manner. It was reported in May that Taiyo received acquisition proposals from U.S. investment fund KKR and the Japan Industrial Promotion Organization. At least one of the plans was to delist the company through a tender offer at a premium. Taiyo's market value has climbed about ¥50 billion ($347 million) to around ¥350 billion in about two weeks since the plans were reported. The proposals come as Japanese companies face pressure from the Tokyo Stock Exchange to boost their value to stay listed. DIC, which holds about 19% of Taiyo's shares, isn't alone in seeking Sato's departure at the shareholders' meeting. Oasis Management, a Hong Kong-based hedge fund with about an 11% stake, is also opposed to his reappointment, citing governance issues. Taiyo's founding family, which is estimated to hold about 10% of the shares, has also solidified its intention to vote against Sato staying on as a director, according to a report by Tokyo Shoko Research. In effect, this is an unusual situation in which the top three shareholders have all expressed opposition to the president staying on. Sato said that while he expects more acquisition proposals in the future, Taiyo will suspend consideration of any new proposals until after the shareholders' meeting due to the current situation.
Korea Herald
13-06-2025
- Business
- Korea Herald
Peak Energy expands Japan footprint with acquisition of 11 MW of high-voltage solar assets
Solar projects to come online by 2027 and enable corporates in Japan to decarbonize operations and save costs. SINGAPORE and TOKYO, June 13, 2025 /PRNewswire/ -- Peak Energy, a pan-Asian renewable energy developer and Independent Power Producer (IPP), has acquired 11 MW of ready-to-build (RTB) high-voltage solar projects across Japan. Located in four different regions of Japan (Chubu, Chugoku, Hokkaido and Kansai), the projects are scheduled for completion in 2027 and are expected to generate more than 13 GWh of clean electricity each year for several decades, thereby avoiding nearly 6,000 tonnes of CO₂ emissions annually, equivalent to removing around 2,000 cars from the road. The electricity produced from these sites will be sold to corporates through long-term power purchase agreements (PPAs), at fixed prices, allowing customers to make immediate savings on their electricity bills and to shield themselves from fluctuations in electricity tariffs for 20+ years. This transaction also marks another milestone in Peak Energy's rapid growth in Japan, where the company already co-owns a 28 MW plant in Kyushu and is actively expanding activities across a range of energy services, including onsite solar, offsite solar and collocated solar + battery energy storage systems (BESS). Across the Asia-Pacific region, Peak now owns over 200 MW of solar projects in operation or under construction, along with 298 MWh of battery energy storage capacity in operation or under construction. "This acquisition reinforces our long-term commitment to Japan," said Gavin Adda, CEO of Peak Energy. "Combined with our broader pipeline of high-voltage assets, it will support our mission to deliver clean, affordable and reliable energy solutions to businesses nationwide." "Given how slowly new supply of large-scale solar capacity is coming on stream in our country, we are excited that we will be able to provide our corporate customers with clean energy within the next couple of years," added Eiji Sato, Country President of Peak Energy in Japan. About Peak Energy Headquartered in Singapore, Peak Energy develops, owns, and operates renewable energy assets across Asia. Peak Energy delivers clean, affordable, and reliable power solutions to corporate customers through a diverse range of business models, including utility-scale solar, off-site and on-site corporate PPAs, and battery storage. Peak currently owns over 200 MW of operating assets across the region, including 28 MW in Japan. Peak Energy is wholly owned by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, with approximately USD 73 billion in assets under management.
Bloomberg
13-06-2025
- Business
- Bloomberg
Taiyo to Decide on Delisting as Early as August, President Says
Taiyo Holdings Co. will decide on proposals from several private equity funds to delist it after a shareholder meeting this month, where its president is likely to face a vote on his ouster. The Japanese chemical manufacturer will decide on the proposals in August at the earliest, Eiji Sato said in an interview. The company is reviewing formal proposals for capital alliances, including privatization, from fewer than five private equity funds, and a special committee is examining whether the acquisition terms are fair, he said.
Yahoo
13-06-2025
- Business
- Yahoo
Peak Energy expands Japan footprint with acquisition of 11 MW of high-voltage solar assets
Solar projects to come online by 2027 and enable corporates in Japan to decarbonize operations and save costs. SINGAPORE and TOKYO, June 13, 2025 /PRNewswire/ -- Peak Energy, a pan-Asian renewable energy developer and Independent Power Producer (IPP), has acquired 11 MW of ready-to-build (RTB) high-voltage solar projects across Japan. Located in four different regions of Japan (Chubu, Chugoku, Hokkaido and Kansai), the projects are scheduled for completion in 2027 and are expected to generate more than 13 GWh of clean electricity each year for several decades, thereby avoiding nearly 6,000 tonnes of CO₂ emissions annually, equivalent to removing around 2,000 cars from the road. The electricity produced from these sites will be sold to corporates through long-term power purchase agreements (PPAs), at fixed prices, allowing customers to make immediate savings on their electricity bills and to shield themselves from fluctuations in electricity tariffs for 20+ years. This transaction also marks another milestone in Peak Energy's rapid growth in Japan, where the company already co-owns a 28 MW plant in Kyushu and is actively expanding activities across a range of energy services, including onsite solar, offsite solar and collocated solar + battery energy storage systems (BESS). Across the Asia-Pacific region, Peak now owns over 200 MW of solar projects in operation or under construction, along with 298 MWh of battery energy storage capacity in operation or under construction. "This acquisition reinforces our long-term commitment to Japan," said Gavin Adda, CEO of Peak Energy. "Combined with our broader pipeline of high-voltage assets, it will support our mission to deliver clean, affordable and reliable energy solutions to businesses nationwide." "Given how slowly new supply of large-scale solar capacity is coming on stream in our country, we are excited that we will be able to provide our corporate customers with clean energy within the next couple of years," added Eiji Sato, Country President of Peak Energy in Japan. About Peak Energy Headquartered in Singapore, Peak Energy develops, owns, and operates renewable energy assets across Asia. Peak Energy delivers clean, affordable, and reliable power solutions to corporate customers through a diverse range of business models, including utility-scale solar, off-site and on-site corporate PPAs, and battery storage. Peak currently owns over 200 MW of operating assets across the region, including 28 MW in Japan. Peak Energy is wholly owned by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, with approximately USD 73 billion in assets under management. Media ContactPeak Energymedia@ Peak Energy Japan View original content to download multimedia: SOURCE Peak Energy
