G Three Holdings CORPORATION [3647.T]
TOKYO, Apr 23 (Pulse News Wire) – G Three Holdings Corporation (3647.T) resolved to cancel its contract for battery storage system assets acquired from Nomuraya Holdings Co., Ltd. during a board meeting held.
The agreement was originally signed on October 6, 2025, for the acquisition of land, equipment, and power connection rights in Kumamoto Prefecture's Tamana District. Due to delays in development timelines and lower projected returns, the company decided to reallocate resources towards more profitable ventures. As part of the cancellation, G Three Holdings expects to recover all previously paid amounts and receive a penalty payment exceeding five-year average net income attributable to parent shareholders. This special gain will be recognized in the third quarter of the fiscal year ending August 2026. The company anticipates no loss from this transaction.
The project involved a battery storage facility located in Tamana District with a capacity of approximately 218.40 tsubo and a rated output of 1,999 kW. Nomuraya Holdings, founded in 1951, operates in roofing materials, construction, and renewable energy sectors, with a capital of ¥3 million. Major shareholder Nomuraya Tile holds a stake of 100%. Looking ahead, G Three Holdings remains committed to expanding its battery storage business through enhanced investment efficiency, securing stable revenue-generating assets, and broadening related operations. The funds released from this cancellation will be considered for reinvestment in higher-yielding opportunities.
The company does not anticipate any negative impact on consolidated earnings for the fiscal year ending August 2026 due to the expected recovery of payments made.
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