Tokyu Land will acquire JP Power’s solar generation business comprising two plants in Tochigi Prefecture and one in Miyagi Prefecture, the latter’s parent Just Planning announced on September 16, 2026.
According to the statement, the agreement was signed on the same day and the handover is scheduled for September 30, 2026. The TSE Standard-listed company Just Planning said the sale is part of its efforts to concentrate resources on AI and data science-related activities, which it expects to grow.
Just Planning did not disclose the price but said it expects to book a 293 million yen gain associated with the transaction in the third quarter of the fiscal year ending January 2027. The solar business generated about 99.3 million yen in revenue and 59.4 million yen in segment profit in the fiscal year ended January 2026.
METI data shows the two assets in Tochigi Prefecture, a 750kWAC/793kWDC plant in Nasushiobara City and a 750kWAC/900kWDC project in Nasu Town, were certified under the feed-in-tariff (FIT) scheme in FY2013, when 10kW and larger solar power plants were offered 36 yen per kWh for 20 years. The third, a 1MWAC/1.13MWDC facility in Sendai City, Miyagi Prefecture, was certified in FY2014, when the tariff was 32 yen per kWh.
The Tochigi projects were commissioned in 2015 and operate under FIT contracts valid through early 2035. The Miyagi asset was commissioned in 2016. Its contract is valid through March 2036.
Tokyu Land, a wholly owned subsidiary of Tokyu Fudosan Holdings, held stakes in 173 operational and under-development projects totaling about 2.1GW as of the end of June 2026. In addition to developing assets in-house, the group has also acquired Renewable Japan in 2025 and launched onsite PPA funds with i Grid Solutions among other efforts to grow its renewables business.
