EREX Co.,Ltd. announced that it expects to receive ¥11.8564446 billion in funding from JFE Engineering Corporation, Toda Corporation, Kyudenko Corporation, Sumitomo Mitsui Finance and Leasing Company, Limited
May 09, 2024
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eREX Co.,Ltd. announced a private placement that it will issue 14,857,700 common shares of the Company at an issue price of ¥798 per share for the gross proceeds of ¥11,856,444,600 on May 10, 2024. The transaction will include participation from new investors such as JFE Engineering Corporation for 4,391,400 shares, Toda Corporation for 4,391,400 shares, Kyudenko Corporation for 3,568,700 shares and Sumitomo Mitsui Finance and Leasing Company, Limited for 2,506,200 shares. The company will pay ¥42,000,000 as estimated issuance costs and the net proceeds will be ¥11,814,444,600.
The transaction has been approved by the board of directors of the company. The transaction is expected to close on May 30, 2024.
Erex Co Ltd is a Japan-based company mainly engaged in the integration and promotion of fuel business, power generation business, trading business, and power retail business, with renewable energy as its core. The electricity retail business sells electricity to corporate and individual consumers nationwide from Hokkaido to Okinawa. The power generation business owns four biomass power plants in Saiki, Buzen, Ofunato, and Okinawa. The fuel business aims to utilize unused wood residues, rice husks, and other biomass fuels and strengthens external sales. The trading business works to procure stable and price-competitive electricity by combining procurement from wholesale electricity exchanges and other sources. The trading business also engages in electricity-related trading operations to reduce the risk of fluctuations in electricity market prices. The overseas business promotes the expansion of renewable energy businesses in Asian countries.
EREX Co.,Ltd. announced that it expects to receive ¥11.8564446 billion in funding from JFE Engineering Corporation, Toda Corporation, Kyudenko Corporation, Sumitomo Mitsui Finance and Leasing Company, Limited
EREX CO.,LTD. 
