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Industry map/Resources, Energy & Materials

Electric Power & Gas industry map

Who earns the money in Electric Power & Gas, and who keeps it. When a company spans several industries, only the relevant segment is counted.

FY2025 · 141 companies · ¥35T

Industry map

Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.

Industry size (revenue)
¥35T

YoY -3.7%

Companies
141
Avg. salary（parent only）
¥7.3M

Avg. age 42.5

Industry weather
Cloudy

Operating income +3.4%

Tokyo Electric Power Company Holdings[9501]

Energy Partner Company + 4 more

#1
Revenue
¥6.33T▼7.1%
Operating income
¥589.4B▲46.1%

Margin 9.3%

Whole company: Revenue ¥6.33T · Net income -¥454.3B

Avg. salary ¥8.8M · 45.1（parent only）

The Kansai Electric Power Company[9503]

Energy + 1 more

#2
Revenue
¥3.65T▼7.2%
Operating income
¥440.4B▼5.7%

Margin 12.1%

Whole company: Revenue ¥4.06T · Net income ¥380.1B

Avg. salary ¥9.4M · 42.4（parent only）

  • Kobe Steel・Supply/OEM

Chubu Electric Power Company[9502]

Miraiz + 2 more

#3
Revenue
¥3.22T▼3.1%
Operating income
¥279.8B▲20.6%

Margin 8.7%

Whole company: Revenue ¥3.55T · Net income ¥227.8B

Avg. salary ¥9.5M · 42.5（parent only）

Tokyo GAS[9531]

Energy solution + 2 more

#4
Revenue
¥2.79T▲7.8%
Operating income
¥224.6B▲64.5%

Margin 8.1%

Whole company: Revenue ¥2.83T · Net income ¥226.9B

Avg. salary ¥7.8M · 43.3（parent only）

  • Kobe Steel・Supply/OEM

Tohoku Electric Power Company[9506]

Power Generation Sales + 1 more

#5
Revenue
¥2.32T▼8.5%
Operating income
¥125.5B▼52.7%

Margin 5.4%

Whole company: Revenue ¥2.37T · Net income ¥85B

Avg. salary ¥8.7M · 44.0（parent only）

Kyushu Electric Power Company[9508]

Power generation and retail electricity business + 3 more

#6
Revenue
¥2.12T▼5.3%
Operating income
¥194.3B▲6.1%

Margin 9.2%

Whole company: Revenue ¥2.25T · Net income ¥154.5B

Avg. salary ¥8.4M · 42.1（parent only）

Osaka GAS[9532]

Domestic energy + 1 more

#7
Revenue
¥1.77T▼4.1%
Operating income
¥136.4B▲5.9%

Margin 7.7%

Whole company: Revenue ¥2.03T · Net income ¥152.8B

Avg. salary ¥8.5M · 44.3（parent only）

NTT[9432]

Others (Real Estate, Energy and Others)

#8
Revenue
¥1.75T▲1.5%
Operating income
-¥1.57BTurned to loss

Margin -0.1%

Whole company: Revenue ¥14.4T · Net income ¥1.04T

Avg. salary ¥10.6M · 41.4（parent only）

The Chugoku Electric Power Company[9504]

Comprehensive energy + 1 more

#9
Revenue
¥1.38T▼5.9%
Operating income
¥82.4B▼31.6%

Margin 6.0%

Whole company: Revenue ¥1.44T · Net income ¥68.5B

Avg. salary ¥8.9M · 42.1（parent only）

Electric Power Development[9513]

PowerGeneration + 3 more

#10
Revenue
¥1.17T▼10.2%
Operating income
¥159B▲13.6%

Margin 13.6%

Whole company: Revenue ¥1.18T · Net income ¥58.5B

Avg. salary ¥11.9M · 41.6（parent only）

Hokkaido Electric Power Company[9509]

HokkaidoElectricPower + 1 more

#11
Revenue
¥818.1B▼5.0%
Operating income
¥47.1B▼14.0%

Margin 5.8%

Whole company: Revenue ¥856B · Net income ¥44B

Avg. salary ¥8.3M · 41.3（parent only）

Hokuriku Electric Power Company[9505]

Power generation sales + 1 more

#12
Revenue
¥714.6B▼7.1%
Operating income
¥86B▲3.1%

Margin 12.0%

Whole company: Revenue ¥786.6B · Net income ¥54.5B

Avg. salary ¥8.3M · 41.4（parent only）

※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.

Other companies: Toho GAS · ENEOS Holdings · Iwatani · Oji Holdings · Hikari Tsushin · Mitsuuroko Group Holdings · Kamei · Shinanen Holdings · Japan Petroleum Exploration · Nippon GAS · Saibu GAS Holdings · Kobe Steel · The Okinawa Electric Power Company · Shizuoka GAS · Hokkaido GAS · eREX · U-Next Holdings · Itochu Enex · Tokyu Fudosan Holdings · SoftBank Group · Sala · Keiyo GAS · TOKAI Holdings · AIR Water · Idemitsu Kosan · Renova · Daiwa House Industry · Hiroshima GAS · Koatsu GAS Kogyo · K&O Energy Group · Tokyo Century · Hokuriku GAS · San-Ai Obbli · Mitsubishi HC Capital · Misumi · West Holdings · Nippon Paper Industries · INFRONEER Holdings · grems · sanrin …+89

The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).

Switch years to see how the map shifts

Who earns the money

Area = revenue from businesses in this industry. Color = operating margin.

LossHigh margin(middle = 0% margin)

Who makes a profit

Across = revenue (log scale), up = operating margin, bubble size = operating income.

Ranking and momentum

RankCompany (business)RevenueShareOp. marginCAGRFCF*
1Tokyo Electric Power Company HoldingsEnergy Partner Company + 4 more¥6.33T18.1%9.3%—-¥348.7B
2The Kansai Electric Power CompanyEnergy + 1 more¥3.65T10.4%12.1%+10.0%¥91.9B
3Chubu Electric Power CompanyMiraiz + 2 more¥3.22T9.2%8.7%+8.3%¥20.9B
4Tokyo GASEnergy solution + 2 more¥2.79T8.0%8.1%+142.8%¥156.2B
5Tohoku Electric Power CompanyPower Generation Sales + 1 more¥2.32T6.6%5.4%+5.9%-¥25.2B
6Kyushu Electric Power CompanyPower generation and retail electricity business + 3 more¥2.12T6.1%9.2%+6.6%¥72.5B
7Osaka GASDomestic energy + 1 more¥1.77T5.0%7.7%+5.9%¥89.6B
8NTTOthers (Real Estate, Energy and Others)¥1.75T5.0%-0.1%+5.9%—
9The Chugoku Electric Power CompanyComprehensive energy + 1 more¥1.38T3.9%6.0%+6.7%-¥29.9B
10Electric Power DevelopmentPowerGeneration + 3 more¥1.17T3.3%13.6%+57.5%¥46.9B
11Hokkaido Electric Power CompanyHokkaidoElectricPower + 1 more¥818.1B2.3%5.8%+6.9%-¥103B
12Hokuriku Electric Power CompanyPower generation sales + 1 more¥714.6B2.0%12.0%+6.9%¥27.5B
13Toho GASGas + 2 more¥615.7B1.8%3.9%+6.0%¥24.6B
14▲1ENEOS HoldingsElectricity + 1 more¥379.1B1.1%5.6%—¥363.7B
15▼1IwataniEnergy¥367.7B1.1%3.7%+3.0%¥13.3B
16Oji HoldingsForest Resources and Environmental Marketing¥346.3B1.0%1.9%+5.4%¥20.9B
17▲2Hikari TsushinElectricity and gas¥319.6B0.9%11.2%—¥37.7B
18▼1Mitsuuroko Group HoldingsPower industry + 1 more¥311.6B0.9%4.3%+7.7%¥2.76B
19▲1KameiEnergy¥279.6B0.8%2.7%+2.8%¥17.6B
20▼2Shinanen HoldingsSolution energy business + 1 more¥275.7B0.8%1.1%—¥4.61B
21Japan Petroleum ExplorationJapan¥248.2B0.7%12.4%+6.5%¥73.7B
22▲3Nippon GASLP gas + 2 more¥208.5B0.6%—+6.4%¥20.9B
23▲1Saibu GAS HoldingsGAS + 2 more¥203.3B0.6%4.5%+6.3%-¥4.42B
24▼2Kobe SteelElectric Power¥203.2B0.6%17.1%+16.6%¥77.2B
25▼2The Okinawa Electric Power CompanyElectric Power Business¥201.3B0.6%2.8%+5.1%-¥10.8B
26Shizuoka GASGas + 1 more¥185B0.5%9.4%+10.7%¥4.7B
27▲1Hokkaido GASGas + 2 more¥172.7B0.5%11.3%+8.4%¥10.9B
28▼1eREX¥169.2B0.5%4.4%—-¥11.6B
29▲4U-Next HoldingsCommunication and energy service¥156.8B0.4%8.4%—¥4.39B
30▼1Itochu EnexHome life division + 1 more¥149.2B0.4%4.9%-5.4%—
31▲4Tokyu Fudosan HoldingsStrategic Investment¥141.3B0.4%9.4%+20.9%¥27.5B
32▲2SoftBank GroupOther¥124.4B0.4%—-10.3%-¥2.16T
33▼2SalaEnergy and solutions segments¥120.9B0.3%3.5%+5.1%¥4.81B
34▼2Keiyo GASEnergy + 1 more¥115.8B0.3%5.7%—-¥697M
35▲1TOKAI HoldingsEnergy¥102.9B0.3%6.8%+4.4%¥10.2B
36▲1AIR WaterEnergy Solutions¥98.5B0.3%6.5%+3.9%¥34.3B
37▼7Idemitsu KosanPower and Renewable Energy¥98.2B0.3%-1.9%-8.2%¥225.6B
38▲4RenovaRenewable energy power generation etc. business + 1 more¥87.6B0.3%——¥22.3B
39Daiwa House IndustryEnvironment and Energy¥87B0.2%15.9%-8.9%-¥304.6B
40▼2Hiroshima GASGas + 1 more¥85.5B0.2%1.4%+3.4%¥3.95B
41▼1Koatsu GAS KogyoGas business¥72.8B0.2%9.6%+4.7%¥3.52B
42▼1K&O Energy GroupGas business¥67.7B0.2%7.3%+5.5%¥7.71B
43▲1Tokyo CenturyEnvironmental infrastructure¥66.1B0.2%———
44▲1Hokuriku GASCity gas + 2 more¥61.7B0.2%5.8%+5.5%¥2.87B
45▼2San-Ai ObbliGas¥58.5B0.2%3.9%—¥15.2B
46▲3Mitsubishi HC CapitalEnvironment, Energy and Infrastructure Business¥46B0.1%—-2.3%—
47MisumiEnergy¥44.9B0.1%2.4%-1.2%¥366M
48West HoldingsRenewable energy business + 2 more¥44.5B0.1%17.1%-8.8%¥182M
49▼3Nippon Paper IndustriesEnergy project¥43.2B0.1%7.7%+8.0%¥20.7B
50▲1INFRONEER HoldingsInfrastructure management¥37.4B0.1%—+19.0%¥143.3B

Showing the top 50. See all 141 in the list below

* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.

How they make money differently

Where each company's ¥100 of sales goes, and how much it keeps (company-wide).

Ownership links

From the major-shareholder section of annual securities reports.

The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted. Showing up to 24 shareholder cards.

Compare the leaders side by side

All companies in Electric Power & Gas (by revenue)

All 142 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.

  1. Tokyo Electric Power Company Holdings¥6.33T · 9.3%
  2. The Kansai Electric Power Company¥3.65T · 12.1%
  3. Chubu Electric Power Company¥3.22T · 5.8%
  4. Tokyo GAS¥2.79T · 8.1%
  5. Tohoku Electric Power Company¥2.32T · 5.4%
  6. Kyushu Electric Power Company¥2.12T · 9.2%
  7. Osaka GAS¥1.77T · 7.7%
  8. NTT¥1.75T · -0.1%
  9. The Chugoku Electric Power Company¥1.38T · 6.0%
  10. Electric Power Development¥1.17T · 13.6%
  11. Hokkaido Electric Power Company¥818.1B · 5.8%
  12. Hokuriku Electric Power Company¥714.6B · 12.0%
  13. Toho GAS¥615.7B · 3.9%
  14. ENEOS Holdings¥379.1B · 5.6%
  15. Iwatani¥367.7B · 3.7%
  16. Oji Holdings¥346.3B · 1.9%
  17. Hikari Tsushin¥319.6B · 11.2%
  18. Mitsuuroko Group Holdings¥311.6B · 4.3%
  19. Kamei¥279.6B · 2.7%
  20. Shinanen Holdings¥275.7B · 1.1%
  21. Japan Petroleum Exploration¥248.2B · 12.4%
  22. Nippon GAS¥208.5B
  23. Saibu GAS Holdings¥203.3B · 4.5%
  24. Kobe Steel¥203.2B · 17.1%
  25. The Okinawa Electric Power Company¥201.3B · 2.8%
  26. Shizuoka GAS¥185B · 9.4%
  27. Hokkaido GAS¥172.7B · 11.3%
  28. eREX¥169.2B · 4.4%
  29. U-Next Holdings¥156.8B · 8.4%
  30. Itochu Enex¥149.2B · 4.9%
  31. Tokyu Fudosan Holdings¥141.3B · 9.4%
  32. SoftBank Group¥124.4B
  33. Sala¥120.9B · 3.5%
  34. Keiyo GAS¥115.8B · 5.7%
  35. TOKAI Holdings¥102.9B · 6.8%
  36. AIR Water¥98.5B · 6.5%
  37. Idemitsu Kosan¥98.2B · -1.9%
  38. Renova¥87.6B
  39. Daiwa House Industry¥87B · 15.9%
  40. Hiroshima GAS¥85.5B · 1.4%
  41. Koatsu GAS Kogyo¥72.8B · 9.6%
  42. K&O Energy Group¥67.7B · 7.3%
  43. Tokyo Century¥66.1B
  44. Hokuriku GAS¥61.7B · 5.8%
  45. San-Ai Obbli¥58.5B · 3.9%
  46. Mitsubishi HC Capital¥46B
  47. Misumi¥44.9B · 2.4%
  48. West Holdings¥44.5B · 17.1%
  49. Nippon Paper Industries¥43.2B · 7.7%
  50. INFRONEER Holdings¥37.4B
  51. grems¥33.9B · 23.3%
  52. TESS Holdings¥29B · 11.8%
  53. sanrin¥26B · 1.0%
  54. i GRID SOLUTIONS¥25.7B · 18.9%
  55. Astmax¥25.1B · 11.4%
  56. Sumitomo Forestry¥24.8B · -5.2%
  57. NEXYZ.Group¥23.2B · 7.2%
  58. Daimaru.enawin¥22.5B · 3.5%
  59. Remixpoint¥21.1B · 4.9%
  60. Sanixholdings¥21B · 8.2%
  61. toho acetylene¥20.6B · 9.3%
  62. Ef-On¥20.5B · 2.1%
  63. Toell¥20.3B · 10.7%
  64. Japan Pulp & Paper¥20B · 2.8%
  65. Restar¥17.4B · 11.2%
  66. Cosmo Energy Holdings¥16.1B · 17.1%
  67. TRE Holdings¥14.7B · 5.4%
  68. Toumei¥13.2B · 16.7%
  69. Toenec¥12.7B · 27.7%
  70. Ricoh Leasing Company¥11.9B · 15.0%
  71. Mirarth Holdings¥11.5B · 14.1%
  72. Forvaltelecom¥10.9B · 10.9%
  73. Anabuki Kosan¥8.17B · -0.9%
  74. Abalance¥7.88B · 10.2%
  75. Airport Facilities¥7.46B · 15.5%
  76. Okumura¥7.21B · -10.1%
  77. Tokyo Rope MFG.¥6.79B · 6.9%
  78. Earth Infinity¥6.64B · 16.6%
  79. Mitsubishi Materials¥6.2B · 12.9%
  80. Ichigo¥6.19B · 26.6%
  81. Tokyo Energy & Systems¥6.11B · 1.1%
  82. Chuetsu Pulp & Paper¥5.66B · 9.0%
  83. Digital Grid¥5.08B · 71.8%
  84. Kobe Bussan¥4.67B · 23.3%
  85. JDC¥3.47B · 38.4%
  86. Toda¥3.33B · -38.5%
  87. Nissin Shoji¥3.16B · -29.0%
  88. EnBio Holdings¥2.47B · 1.2%
  89. Daiki Axis¥2.43B · 4.8%
  90. SAKAI Holdings¥2.39B · 49.0%
  91. Yondenko¥2.26B · 41.5%
  92. Star seeds¥2.23B · 21.4%
  93. Watami¥2.01B · 15.0%
  94. Nittetsu Mining¥1.87B · 34.5%
  95. SYLA Holdings¥1.7B · 2.3%
  96. Asahi Eito Holdings¥1.66B · 1.4%
  97. Nippon Hume¥1.48B · 58.7%
  98. Nippon Denko¥1.41B · 29.1%
  99. Japan Ecosystem¥1.31B · 22.5%
  100. Nakabayashi¥1.28B · 0.6%
  101. Kyushu Leasing Service¥1.25B · 20.9%
  102. PowerX¥1.05B · 3.3%
  103. Wood ONE¥1.05B · 19.5%
  104. Oizumi¥1.01B · 54.3%
  105. People, Dreams & Technologies Group¥956M
  106. Super Tool¥836.9M · 10.8%
  107. Tama Home¥804M · 31.0%
  108. Nishimatsu Construction¥748M · -107.6%
  109. Shin Nippon Biomedical Laboratories¥717.1M · -9.2%
  110. UNIVA Oak Holdings¥682.2M · -39.7%
  111. General Oyster¥613.6M · 3.8%
  112. Environment Friendly Holdings¥588.1M · 25.6%
  113. Asulina¥579.4M · -0.9%
  114. Fuji United Holdings Company¥561M · -31.6%
  115. Tamagawa Holdings¥558.5M · 13.4%
  116. Japan Oil Transportation¥517M · 48.4%
  117. Axyz¥457M · 74.6%
  118. Orvis¥456.1M · 66.3%
  119. Land¥331.5M · 32.6%
  120. GLC Group¥319M · 1.6%
  121. Nippon Concrete Industries¥313.5M · 59.2%
  122. Fantasista¥235.5M · 30.2%
  123. Senkon Logistics¥215.9M · 24.6%
  124. Japan Material¥209M · 59.3%
  125. kaihan¥194.3M · -95.8%
  126. Akatsuki Eazima¥189.6M · 39.9%
  127. Danto Holdings¥180M · -2.8%
  128. RS Technologies¥155M · -3.2%
  129. Aska¥152.3M · 60.5%
  130. Nakano¥147M · 34.0%
  131. 4Cs HD¥143.8M · -20.8%
  132. ALiNK Internet¥133.3M · 96.8%
  133. Resol Holdings¥102M · 30.4%
  134. Mansei¥101.6M · 46.7%
  135. Justplanning¥99.3M · 59.8%
  136. RVH¥73.3M · 7.8%
  137. Wise Holdings¥73M · 17.3%
  138. Nagahori¥45.6M · 46.3%
  139. Kimura Unity¥44M · 54.5%
  140. Taiyo Kisokogyo¥41.8M · 60.1%
  141. The Takigami Steel Construction¥32M · 56.3%
  142. Oomitsu¥16.1M · 58.6%

Revenue · Op. margin

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