HIS has decided to sell out its 100% subsidiary HTB Energy, which develops an electric power retail business. If the deal is finally agreed with a buyer, a stock-selling contract will be signed on April 20 2022.
HTB Energy has faced difficult business circumstance due to rise in electric power purchase cost and a possible penalty against electric power supply. In the fiscal year of 2021 ended September 2021, the company fell into excess of debt, posting a deficit of about 10 billion JPY.
Making efforts to improve its balance sheet, HIS has judged that it takes a long time to rebuild the energy business under the current business circumstance. A buyer is not disclosed yet.