Latest news with #Itochu
Nikkei Asia
2 days ago
- Business
- Nikkei Asia
Itochu to debut ammonia refueling ship in 2028
Itochu's ship will refuel other vessels with ammonia. (Photo by Fumie Yaku) YUI SATO TOKYO -- Japanese trading company Itochu plans to begin operating in 2028 a vessel that supplies ammonia fuel to other ships, in what is expected to be a world first, Nikkei has learned. By building refueling ships -- known as bunkering tankers -- Itochu aims to become a leader in offering an ammonia supply chain, including the production and transport of the fuel.
Japan Times
05-06-2025
- Business
- Japan Times
Itochu working to support overseas pharma firms to fill Japan's drug gaps
Two Itochu units are expanding into the business of attracting more foreign drug companies to Japan, in a bid to help them develop innovative therapies for the local market that are already available overseas. The Japanese trading house's subsidiaries A2 Healthcare and ITC Venture Partners are launching an end-to-end hub service for international biotechs — arranging everything from early-stage consulting, regulatory advice and clinical testing support to post-launch distribution in Japan — according to people familiar with the matter who declined to be identified because the information isn't public. A spokesperson for Itochu declined to comment. Intermediary support is crucial for drug availability in the nation, where more than 50 therapies have been identified as needed but unavailable to patients, a government-funded study reported in March. The situation is known locally as "drug loss,' a term that refers to a list of treatments for which there is no current plan for introduction to the Japanese market. They include medicines for rare diseases, drug-resistant tuberculosis, cancer and Parkinson's disease. While Japan is home to some of the world's biggest drug giants, including Takeda Pharmaceutical and Eisai, the number of medications locally available trails the U.S. and Europe. Officials have expressed concerns over the gap. Foreign drugmakers, especially smaller ones, find it challenging to navigate hurdles to market entry. Tokyo-based trading house Itochu formally entered the contract research business in 2005. Health care is seen as a key growth sector by some of Japan's biggest companies, as the country's graying population drives an increased need for care.
Irish Times
04-06-2025
- Business
- Irish Times
Energia bid interest ranges from Japanese trading firm to private equity
The US owner of Energia received several first-round bids in advance of a deadline on Friday, after fielding interest from everyone from a Japanese trading company to North American private equity firms, said sources. New York-based investment firm I Squared Capital , which bought Energia, then known as Viridian Group, in 2016, pressed the start button on the long-awaited sale of the Irish electricity and gas utility in late March. The business is expected to achieve an enterprise value of €2.75 billion. Itochu Corporation, a Japanese trading company that is involved in businesses spanning textiles to energy and chemicals, US private equity giant KKR , and the Canada Pension Plan Investment Board are among parties that have been running the rule over Energia, according to sources. Australian financial services group Macquarie is also among the companies that have been circling the business, said the sources. READ MORE Spokeswomen for I Squared, KKR and Canadian pensions group and a spokesman for Energia declined to comment. It was not possible to secure comment from Itochu outside normal business hours in Japan, while a representative for Macquarie did not provide comment when contacted . Ford chief Lisa Brankin on accelerating the switch to electric vehicles Listen | 41:35 Reuters reported in recent days on the interest of Itochu and the Canadian Pension Plan Investment Board, which, it said, may ultimately team up with a UK electricity group in which it has a stake, Octopus Energy. It also said that Czech energy group EPH, French private equity firm Ardian and Spanish infrastructure investor Asterion were carrying out work on Energia with a view to making a bid. I Squared, founded 13 years ago by former executives at Morgan Stanley's infrastructure arm, acquired Energia in 2016 from Bahrain's Arcapita Bank for €1 billion. Arcapita had owned the business for almost a decade. The US firm subsequently sold a minority stake in Energia to an unknown investor the following year and set up a holding company over the business in the Cayman Islands. I Squared has made two unsuccessful efforts to sell the company before now, in 2018 and 2020. Energia, led by chief executive Ian Thom , reported in March that its earnings before interest, tax, depreciation and amortisation (Ebitda) dipped to €238.3 million for the nine months to the end of December from €246.7 million for the same period in the previous fiscal year. The three parts of Energia's business – renewable energy, a flexible electricity generation business and a unit supplying customers – have proven to be complementary in recent years despite upheaval across energy markets. An Bord Pleanála gave Energia permission in March to build a data centre in Huntstown, Co Dublin, in partnership with tech giant Microsoft, adding to the investment case for potential suitors. Energia also has a solar energy pipeline of more than 1,200MW.
BreakingNews.ie
30-05-2025
- Business
- BreakingNews.ie
Czech billionaire among expected bidders for Irish utility Energia, sources say
Daniel Kretinsky-backed Czech energy group EPH and Japanese trading house Itochu are expected to make preliminary bids for Irish utility Energia Group, according to two sources with knowledge of the situation. Other expected bidders include investors Ardian, Asterion and CPP Investments, the people said. Itochu is expected to form a consortium and CPP Investments may team up with Britain's Octopus Energy, which it is an investor in, one of the people said. Advertisement Kretinsky is also the co-owner and president of football club Sparta Prague, and director and major shareholder of English football club West Ham United. After being acquired by private equity firm I Squared for about $1 billion in 2016, a new sale could value Energia Group at more than €2 billion including debt, the sources and a third one said. Non-binding offers are due this week, the sources and a fourth one said. All four sources spoke on condition of anonymity because the matter is private. I Squared, CPP Investments, Itochu, EPH, Ardian, Asterion all declined to comment. Energia Group referred questions to I Squared and Octopus Energy did not reply immediately to a request for comment. Ireland Energy regulator proposes rules for data centres t... Read More Energia Group, which supplies approximately 17 per cent of Ireland's total electricity requirements, is the latest power company to draw investor interest following the acquisition of Electricity North West by Iberdrola last year. The company is an integrated utility with investments in renewables, power distribution, data centres and gas turbines. Energia Group recently secured permission to build a data centre in Dublin allowing its sale process to go ahead, three of the sources said. Reuters first reported last year that I Squared was exploring selling Energia.
CNA
30-05-2025
- Business
- CNA
Exclusive-Kretinsky's EPH, Itochu among expected bidders for Energia, sources say
LONDON :Daniel Kretinsky-backed Czech energy group EPH and Japanese trading house Itochu are expected to make preliminary bids for Irish utility Energia Group, according to two sources with knowledge of the situation. Other expected bidders include investors Ardian, Asterion and CPP Investments, the people said. Itochu is expected to form a consortium and CPP Investments may team up with Britain's Octopus Energy, which it is an investor in, one of the people said. After being acquired by private equity firm I Squared for about $1 billion in 2016, a new sale could value Energia Group at more than 2 billion euros ($2.27 billion) including debt, the sources and a third one said. Non-binding offers are due this week, the sources and a fourth one said. All four sources spoke on condition of anonymity because the matter is private. I Squared, CPP Investments, Itochu, EPH, Ardian, Asterion all declined to comment. Energia Group referred questions to I Squared and Octopus Energy did not reply immediately to a request for comment. Energia Group, which supplies approximately 17 per cent of Ireland's total electricity requirements, is the latest power company to draw investor interest following the acquisition of Electricity North West by Iberdrola last year. The company is an integrated utility with investments in renewables, power distribution, data centres and gas turbines. Energia Group recently secured permission from Irish authorities to build a data centre in Dublin allowing its sale process to go ahead, three of the sources said. ($1 = 0.8814 euros)
