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Business deals

SoftBank renewable energy unit to be acquired by Toyota Tsusho

Trading house aims to tap SB Energy's strength in solar power

Most of SB Energy's renewables capacity is in solar. (Photo courtesy of SB Energy)
YUKI FUKUMOTO, Nikkei staff writer | Japan

NAGOYA -- Japanese trading house Toyota Tsusho will acquire SoftBank Group unit SB Energy as early as April, aiming to expand its footprint in solar power and other renewable energy-related businesses.

Toyota Tsusho will purchase an 85% stake under plans announced Thursday, while SoftBank will retain 15%.

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