Houlihan Lokey Advises Tokyo Gas

Houlihan Lokey is pleased to announce that Tokyo Gas Co., Ltd. (Tokyo Gas) has sold its shares in Tokyo Gas Lease Co., Ltd. (TG Lease) to Shizuoka Financial Group, Inc. (Shizuoka FG). The transaction closed on April 22, 2026.

Established in 1885, Tokyo Gas engages in the manufacture, supply, and sale of city gas, mainly in the Tokyo metropolitan area. Leveraging its stable LNG procurement capabilities, Tokyo Gas operates a comprehensive energy business combining gas and electricity services.

Established in 1983, TG Lease, the target company, provides a broad range of financial services, including leasing, credit, payment processing, and insurance services, as the in-house finance company of the Tokyo Gas Group.

Established in 2022, Shizuoka FG is a regional banking group centered on The Shizuoka Bank. With total assets of approximately JPY 16 trillion, Shizuoka FG is one of the largest and most profitable regional banking groups in Japan.

By joining Shizuoka FG, which possesses diversified financial capabilities and expertise, TG Lease—backed by a stable customer base in the Tokyo metropolitan area—achieves complementary collaboration through the mutual utilization of each customer base and financial functions.

Tokyo Gas continues to hold its shares in TG Lease and aims to enhance the financial functions of the group through the growth of TG Lease under the best ownership structure.

Houlihan Lokey served as the exclusive financial advisor to Tokyo Gas. This transaction underscores Houlihan Lokey’s extensive expertise in the financial services sector.

RELATED: Financial Services, Mergers and Acquisitions