TBS Holdings established a 95:5 joint venture with power retailer and sustainability solutions provider UPDATER to lead its group-wide decarbonization efforts, the companies announced on June 24, 2025.
The new company, TBS Green Transformation, was established on June 2, 2025, and will be in charge of developing assets and sourcing power from third-party plants for use at the broadcasting group’s facilities. It plans to focus its development efforts on agrisolar in particular. The JV will also support other decarbonization activities within the TBS group and its supply chain.
UPDATER will operate the assets built by TBS Green Transformation. The power retailer will also purchase all of the output from the projects and sell it back to TBS Holdings’ group companies.
Initially, the JV plans to develop renewable capacity for supplying its Midoriyama Studio in Yokohama City. Afterward, it aims to expand its efforts to Tokyo’s Akasaka area, which is home to the group’s headquarters and broadcasting center. The partners said they will also consider rolling out TBS Green Transformation’s services to third parties in the future.
TBS Holdings and UPDATER’s collaboration highlights a growing trend of corporate power consumers venturing into the energy industry as they face growing pressure to secure renewable power with additionality. It follows a JV between MUJI store operator Ryohin Keikaku and JERA, as well as Seven & i Holdings’ wholly-owned power retailer Seven & i Energy Management and Yamato Transport’s subsidiary Yamato Energy Management, among others.
