Japan's Kyushu Electric may spin off businesses in restructuring push

KYUDEN Holdings

31/01/2024 05:17

TOKYO, Jan 31 (Reuters) - Japan's Kyushu Electric Power
 9508.T  said on Wednesday it will examine a new group
structure, which may involve spinning off growth businesses and
creating a holding company via stock transfer.
    "While business opportunities are promising, there are also
growing uncertainties," Kyushu Electric said in a statement,
referring to rising fuel prices, adding that it would push for
further growth in its domestic electric power business.
    The company did not provide further details.
    Kyushu Electric's shares were up 1.38% at 0445 GMT,
outperforming the Nikkei index  .N225  which was down 0.12%.

 (Reporting by Katya Golubkova; Editing by Varun H K)
 ((ekaterina.golubkova@thomsonreuters.com;))