Natural Gas Sales: approximately 60% of total revenue
Electricity Generation and Sales: approximately 25% of total revenue
Other Business Areas (including renewable energies and international operations): approximately 15% of total revenue

TOP 3 Markets:

1. Japan: approximately 80%
2. Southeast Asia: approximately 10%
3. North America: approximately 5%

Tokyo Gas Co., Ltd. generates the majority of its revenue from the sale of natural gas, which is the company's main activity. The domestic market in Japan is the most significant, as the company has a strong market presence there. In recent years, Tokyo Gas has expanded its operations in Southeast Asia and North America to strengthen its international presence and benefit from the growing demand in these regions.

Production sites of Tokyo Gas Co., Ltd.:

Tokyo Gas Co., Ltd. mainly operates in Japan and runs its production facilities there. The key sites include:

• LNG Terminals: Tokyo Gas operates several LNG terminals in Japan, including the Sodegaura LNG Terminal, the Negishi LNG Terminal, and the Ohgishima LNG Terminal. These terminals are crucial for the processing and distribution of liquefied natural gas (LNG).

• Gas production facilities: In addition to the LNG terminals, Tokyo Gas has various gas production facilities in the Kanto region responsible for the processing and distribution of natural gas.

Tokyo Gas focuses heavily on local production and distribution within Japan to ensure supply security and minimize dependence on imports. The company also invests in expanding renewable energies and developing hydrogen technologies to diversify its production capacities.

Investments in Renewable Energies: $1.5 billion by 2030
Goal for Carbon Neutrality: 2050

Tokyo Gas Co., Ltd. is pursuing a strategy that is strongly focused on decarbonization and the expansion of renewable energies. The company plans to invest around $1.5 billion in renewable energy projects by 2030 to reduce its dependence on fossil fuels.

In addition, Tokyo Gas aims to become carbon neutral by 2050. This includes initiatives to improve energy efficiency, expand hydrogen projects, and develop technologies for carbon capture and storage.

The strategy also includes expanding international presence, especially in markets with growing demand for environmentally friendly energy sources. Tokyo Gas is relying on partnerships and joint ventures to expand its expertise in these areas and unlock new business opportunities.

Main raw materials: Liquefied natural gas (LNG), crude oil

Main importing countries for LNG:

• Australia
• Qatar
• Malaysia
• Russia
• USA

Tokyo Gas Co., Ltd. mainly imports liquefied natural gas (LNG), which is crucial for Japan's energy supply. Australia is one of the largest suppliers of LNG to Tokyo Gas, followed by Qatar and Malaysia. These countries offer stable supply chains and competitive prices, making them preferred partners.

In addition, Tokyo Gas also sources crude oil to diversify its energy production. The USA and Russia are also important suppliers, especially during times of geopolitical tensions that could affect supply security.

Diversifying import sources is a strategic decision to ensure supply security and be able to flexibly respond to market changes.

Market share in Japan: approx. 24% (2023)
Revenue growth: 3.5% (2023)
EBITDA margin: 12.1% (2023)

Tokyo Gas Co., Ltd. is the largest provider of city gas in Japan and holds a significant market share, giving it a strong competitive advantage. The market share of about 24% demonstrates the company's dominant position in the Japanese gas market.

In recent years, the company has experienced moderate revenue growth of 3.5%, indicating stable demand and an effective market strategy. The EBITDA margin of 12.1% highlights Tokyo Gas's ability to operate efficiently and generate solid profits.

Additionally, Tokyo Gas benefits from its infrastructure and extensive supply network, creating high barriers to entry for new competitors. Continuous investments in renewable energies and diversification of the energy portfolio further strengthen the company's long-term competitive position.

Institutional Investor Share: 45% (estimated, 2025)
Insider Trades: No significant transactions reported (2025)

The institutional investor share in Tokyo Gas Co., Ltd. is estimated to be around 45%. This demonstrates the confidence of institutional investors in the company's stability and growth potential. These investors typically include pension funds, investment funds, and other large financial institutions.

In 2025, no significant insider trades were reported. This could indicate that the management and other insiders are satisfied with the current company strategy and see no need to alter their holdings.

Market share Tokyo Gas Co.,Ltd.: 25% (estimated for 2025)

Top competitors and their market shares:

1. Osaka Gas Co., Ltd.: 20%
2. Toho Gas Co., Ltd.: 15%
3. JXTG Nippon Oil & Energy Corporation: 10%
4. Chubu Electric Power Co., Inc.: 8%
5. Kyushu Electric Power Co., Inc.: 7%
6. Hokkaido Gas Co., Ltd.: 5%
7. Hokuriku Electric Power Company: 5%
8. Shikoku Electric Power Co., Inc.: 5%

Tokyo Gas Co.,Ltd. holds a significant market share of approximately 25%, making it the leading company in the Japanese gas market. The company's moat stems from its established infrastructure, wide customer base, and long-term contracts with suppliers and customers.

Compared to its competitors, Tokyo Gas has an advantage due to its size and ability to leverage economies of scale. Osaka Gas and Toho Gas are also strong competitors, albeit with smaller market shares.

Tokyo Gas's moat is reinforced by its innovation capabilities and investments in renewable energies, enabling the company to adapt to changing market conditions. However, some competitors, such as JXTG Nippon Oil & Energy, have also built strong positions through diversification into other energy sources, intensifying the competition.

Revenue Growth: 7% (2024) Net Income Growth: 5% (2024) Market Share in Japan: approximately 30% (2024)

Tokyo Gas Co., Ltd. recorded a revenue growth of 7% in 2024, attributed to stable demand for natural gas and successful expansion into the renewable energy sector. The company also achieved a net income growth of 5%, driven by efficiency improvements and cost reduction measures.

The company holds a significant market share of around 30% in the Japanese gas market, highlighting its strong market position. Tokyo Gas is also investing in diversifying its energy portfolio, including renewable energies and international projects, offering long-term positive growth prospects.

In summary, Tokyo Gas Co., Ltd. could be a promising investment due to its stable financial performance, market position, and strategic investments in renewable energies and international markets. However, investors should also consider general market conditions and regulatory developments in the energy sector.

Dividend Yield: 3.5% (2025, estimated)
Dividend History: Continuous payout over the last 10 years

Tokyo Gas Co., Ltd. is known for its reliable dividend policy. The company has consistently distributed dividends to its shareholders over the past ten years, indicating a stable financial foundation and a sustainable business model.

The estimated dividend yield for the year 2025 is approximately 3.5%. This yield is competitive compared to other companies in the utility sector and demonstrates Tokyo Gas's commitment to providing regular returns to its shareholders.

The reliability of the payout is supported by stable energy demand and Tokyo Gas's strategic positioning in the Japanese energy market. Analysts expect the company to continue its dividend policy in the coming years, barring significant economic or regulatory changes.