Marubeni to Lift Japan Power Business With New Trading Firm
Marubeni Ennex Corp. tanks in Chiba, Japan.
Photographer: Toru Hanai/BloombergMarubeni Corp. plans to strengthen its presence in Japan’s power market by establishing a new trading venture, joining a wave of companies seeking to capitalize on the sector’s expansion.
The company’s power retail arm and its UK-based energy trading unit SmartestEnergy Ltd. will each hold a 50% stake in the newly-formed venture, called Marubeni Power Trading, according to people with direct knowledge of the matter. The joint venture will trade spot power and futures, as well as fuel futures products, the people said, asking not to be identified as the discussions aren’t public.