Komori
Tokyo Gas (9531) · FactAchieved

Changes in the Operating Environment Resulting from the Full Liberalization of Electricity and Gas Retail

First written in FY2018-Q1. 6 of 12 entries say "Restated". Latest entry: FY2022.

12entries
6years
0from disclosures
Share on X
How it moved
ProgressHeldSoftenedWorseRestatedFY2018-Q1 – FY2020-Q3AdvancedFY2021-Q3 – FY20222017: 220172018: 320182019: 120192020: 220202021: 320212022: 12022
Same theme, other companies
Intensifying Competition from the Liberalization of Electricity and Gas RetailingA theme 30 companies write about · 35 as a headwind · 0 as a tailwind

The whole theme swung hardest in 2024: 8 of 21 companies on the "Worse" side.

0 other companies' latest entry also says "Achieved".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 30 companies compared. The sentences above are computed from all 30.
Full recordFilings, disclosures and news, newest first
  1. FY2022AchievedAnnual report

    「Following approval of the related proposals at the 221st Annual General Meeting of Shareholders held on 29 June 2021, the Company Split was approved by the relevant government authority on 17 March 2022, and took effect on 1 April 2022.」

    As a response to institutional changes, including retail and electricity liberalization and the legal separation of the pipeline segment, the gas pipeline business was approved for spin-off and subsequently spun off.
  2. FY2022-Q1AdvancedAnnual report

    「By resolution of the Board of Directors on 28 April 2021, we decided to transfer our gas pipeline business and other operations to Tokyo Gas Network Co., Ltd. through a company split, scheduled to take effect on 1 April 2022. On the same date, we entered into an absorption-type company split agreement with the company (the “Company Split”), and the related proposals were approved at the 221st Annual General Meeting of Shareholders held on 29 June 2021.」

    The response to changes in the institutional environment, including liberalization and legal separation, had been specified through execution of the company split agreement for the pipeline business and approval at the General Meeting of Shareholders.
  3. FY2021AdvancedAnnual report

    「To comply with the legal separation of the pipeline segment in April 2022 under the Gas Business Act, we decided on the post-spin-off corporate structure and the method of the spin-off, and announced the details on 30 November 2020.」

    The response to changes in the institutional environment, including retail liberalization and legal separation, had been specified through the decision on and announcement of the post-spin-off corporate structure and the spin-off method.
  4. FY2021-Q3AdvancedAnnual report

    「To comply with the legal separation of the pipeline segment in April 2022 under the Gas Business Act, we decided on the post-spin-off corporate structure and the method of the spin-off, and announced the details on 30 November 2020.」

    The response to changes in the institutional environment, including retail liberalization and legal separation, had been specified through the decision on and announcement of the method of spinning off the pipeline segment and the post-spin-off corporate structure.
  5. FY2020ReframedAnnual report

    「In the gas and electricity businesses, institutional changes are progressing following full retail liberalization, including the legal separation of the transmission and distribution businesses and the planned legal separation of the gas pipeline business, significantly changing the environment surrounding the company group.」

    The description of the operating environment has been expanded beyond retail liberalization to include institutional changes such as the legal separation of the transmission, distribution, and pipeline businesses.
  6. FY2020-Q3RestatedAnnual report

    「The company group views changes in the market environment, including the shift toward decarbonization, advances in digitalization, changes and diversification in customer values, and the progress of energy liberalization, as opportunities,」

    The company continues to position the progress of energy liberalization as a structural change shaping the operating environment.
  7. FY2019-Q3RestatedAnnual report

    「Following the full liberalization of electricity retailing in April 2016, the full liberalization of gas retailing began in April 2017, significantly changing the operating environment surrounding the company group.」

    The company continues to explicitly identify changes in the operating environment resulting from the full liberalization of electricity and gas retailing.
  8. FY2019-Q2RestatedAnnual report

    「Furthermore, following the full liberalization of electricity retailing in April 2016, the full liberalization of gas retailing began in April 2017, significantly changing the operating environment surrounding the company group.」

    The company continues to explicitly identify changes in the operating environment resulting from the full liberalization of electricity and gas retailing.
  9. FY2019-Q1RestatedAnnual report

    「Following the full liberalization of electricity retailing in April 2016, the full liberalization of gas retailing began in April 2017, significantly changing the operating environment surrounding the company group.」

    The company continues to explicitly identify changes in the operating environment resulting from the full liberalization of electricity and gas retailing.
  10. FY2018-Q3RestatedAnnual report

    「Following the full liberalization of electricity retailing in April 2016, the full liberalization of gas retailing began in April 2017, significantly changing the operating environment surrounding the company group.」

    The company continues to explicitly identify changes in the operating environment resulting from the full liberalization of electricity and gas retailing.
  11. FY2018-Q2RestatedAnnual report

    「Following the full liberalization of electricity retailing in April 2016, the full liberalization of gas retailing began in April 2017, significantly changing the operating environment surrounding the company group.」

    The company continues to explicitly identify changes in the operating environment resulting from the full liberalization of electricity and gas retailing.
  12. FY2018-Q1First statedAnnual report

    「Following the full liberalization of electricity retailing in April 2016, the full liberalization of gas retailing began in April 2017, significantly changing the operating environment surrounding the company group.」

    The company first explicitly identifies the start of full gas retail liberalization, following full electricity retail liberalization, as a structural change in the operating environment surrounding the company group.
Moved together

"Shareholder distributions targeting a total payout ratio of around 60% through fiscal 2020" moved the same way as this thread, in the same document, in 4 of its 12 moves.

444333★123456
  1. ★This thread
  2. 1Shareholder distributions targeting a total payout ratio of around 60% through fiscal 20204×
  3. 2Funding to redeem short-term bonds through the issuance of long-term bonds4×
  4. 3Transformation of Group Structure Following the Legal Separation of the Pipeline Division4×
  5. 4Accelerating global expansion3×
  6. 5Decline in industrial and city gas sales volumes due to lower demand for power generation and other factors3×
  7. 6Significant decline in operating profit due to higher operating expenses for raw materials and electricity3×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Tokyo Gas's next results are scheduled for 2026-10-29. Read the earnings preview
News
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