SoftBank is seeking a stake in Tokyo Electric Power Co. (Tepco), Japan’s biggest power utility, chief executive Masayoshi Son told shareholders on June 24.

The investment would help secure electricity supplies for AI data centers in Japan.

Son said SoftBank Corp., the group’s telecoms unit, had put itself forward as a candidate buyer, but he did not disclose the proposed stake size or terms.

The move is unusual because Tepco has been under state control since 2012, when the Japanese government took 50.11% voting rights.

Tepco has also received 10.2 trillion yen (US$63 billion) in no-interest loans tied to Fukushima cleanup, compensation, and decontamination.

SoftBank Corp. is also developing an AI data center at Sharp’s former liquid crystal display (LCD) plant site in Osaka, with more than 150 megawatts of initial power capacity, and plans to expand it beyond 400 megawatts.

Wood Mackenzie estimates data centers will drive 60% of growth in Japan’s power demand by 2034, while data center developers around Tokyo can face waits of five to 10 years for grid access.

🔗 Source: Bloomberg

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