Tepco to sell off part of systems operations


Tokyo Electric Power Co. plans to sell part of the operations at its wholly owned unit Tepco Systems Corp. to Hitachi Ltd. for about ¥13 billion, sources said Friday.

The operations subject to the sale will include the Tokyo-based unit’s electricity fee collection and customer management. The sale is expected to take place next spring, the sources said.

The move is part of asset sales under Tepco’s ongoing business reconstruction program.

The firm aims to sell assets worth ¥707.4 billion in the three years to next March. It had sold assets worth ¥676.5 billion as of the end of June.

In fiscal 2013, which ends next March, Tepco hopes to return to the black on a group pretax basis for the first time in three years.