Japan's Tokyo Gas will invest about 20 billion yen ($193 million) in British retail energy firm, Octopus Energy, Tokyo Gas announced on Wednesday.
The companies will form a joint venture in Japan in February to supply power supply to retail customers in the autumn of 2021.
Tokyo Gas said it would instill a new customer experience in the Japanese energy market by “speedily offering flexible and easy-to-understand electricity rate and service menu that is aligned to the wide-range of needs of each customer.”
Octopus Energy is a rapidly growing company that has expertise in digital technology and electricity retailing. It has secured over 1.8 million customers in around four years in the highly competitive UK market.
By Murat Temizer