Promotion help from new joint venture

Tokyo Electric Power Co (TEPCO) is setting up a joint venture this month to help promote wind power generation in Japan. The venture will be called Japan Natural Energy Co and ten further companies will be co-investors. It will solicit financial contributions from environmentally minded companies and provide support to companies and organisations that are involved in the development of wind power. TEPCO will own 51% of the venture, capitalised at ´300 million. Sumitomo Corp and Mitsui & Co will each own 10%. The remaining partners are Japan Wind Development Co, five regional electric companies in addition to TEPCO, and Sakura Bank.