March 26, 2025 [Market Screener]- Tokyo Gas aims to nearly double its net profit in the 2026 fiscal year and plans to expand in the United States, Japan’s biggest city gas provider said in a medium-term management plan released on Wednesday.

The company said it expects net profit to grow to 131 billion yen ($871 million) in the 2025-26 fiscal year, which begins on April 1, from 72 billion yen for the year ending this March. It sees its dividend rising by 10 yen to 80 yen per share in the current fiscal year.

It also plans a new share buyback of up to 120 billion yen in the first half of the 2026 fiscal year, it said.

Tokyo Gas said it wants to increase coordination between its liquefied natural gas trading and shale gas businesses in the United States and expand there, while also building its LNG trading worldwide, mainly through Singapore and London.

“Our shale gas business is expected to become a major profit pillar in FY2025” the company’s statement said.

Overall, it is aiming to invest of over 1.1 trillion yen and plans shareholder returns of over 200 billion yen in fiscal years 2026-2028. The company may also sell around 100 billion yen worth of real estate, it said.

The company’s presentation did not mention U.S. activist investor Elliott Management, which bought a 5.03% stake in Tokyo Gas and has urged it to divest parts of its extensive real estate portfolio to boost shareholder value.

Tokyo Gas shares closed 2% down in Tokyo.

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