G Three Holdings Corporation
3647・Standard Market・Information & Communication
Renewable Energy Business
Core renewable energy segment integrating solar power plant electricity sales, trading, and storage batteries
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (Cumulative Third Quarter) | ¥54 million | ¥554 million | ↓ |
| Segment Loss (Operating Loss) (Cumulative Third Quarter) | -¥24 million | -¥7 million | ↓ |
Business Details
The former three categories of "Renewable Energy Business," "New Energy Business," and "Storage Battery Business" were consolidated into "Environment-Related Business" starting from the third quarter of FY2026 (ending August 2026). Main revenue pillars include electricity sales revenue from the operation of solar power plants, procurement and sales of power plants as real estate held for sale, procurement and sales of power generation-related products such as solar cell modules, sales and brokerage of grid-connected storage batteries, and procurement, sales and brokerage of portable storage batteries.
Recent Overview
Sales fell over 90% year on year due to the absence of a large-scale power plant sale, and losses also widened
In the cumulative third quarter of the fiscal year under review (September 1, 2025 to May 31, 2026), the Environment-Related Business recorded sales of ¥54 million (down 90.26% year on year) and a segment loss of ¥24 million (versus a loss of ¥7 million in the same period of the prior year). The main cause was the absence of the large-scale sale of a solar power plant to Tokyu Land Corporation (¥467 million) recorded in the same period of the prior year. Additionally, from the current third quarter, the former "Renewable Energy Business," "New Energy Business," and "Storage Battery Business" were consolidated into "Environment-Related Business." Sales activities continue for solar power plants held as real estate held for sale (¥521 million on the balance sheet).
Key Products
Growth Drivers
- Tailwind from policies promoting renewable energy as a mainstay power source under the 7th Strategic Energy Plan (targeting a 73% reduction in greenhouse gases by FY2040)
- Establishment of a new revenue source through focused efforts in the development, sales, and brokerage of grid-connected storage batteries
- Securing of working capital and revenue recognition through the sale of solar power plants held as real estate held for sale (¥521 million)
- Plans to secure stable electricity sales revenue through the acquisition of agrivoltaic (solar sharing) power plants
- Profitability improvement through repowering of power plants held as fixed assets
Risks
- High dependence on one-off large-scale deals for solar power plant sales, with uncertainty in securing continuous deal flow (sales declined more than 90% due to the drop-off of the ¥467 million sale to Tokyu Land Corporation recorded in the same period of the prior year)
- Shrinking secondary sales market for solar power plants and margin pressure from rising property prices amid phased revisions to the FIT scheme
- Risk of fluctuations in electricity sales revenue due to increased output curtailment on the power grid
- Initial investment burden and uncertainty in commercialization in new business areas such as grid-connected storage batteries and portable storage batteries (portable storage battery sales volume fell short of plan in the current period)
- Risk that demand growth for power generation-related products will be limited as the number of new domestic solar power plant installations remains flat
- Risk of stricter regulations related to solar panel disposal issues and landscape/environmental concerns
Last updated: November 26, 2025