JERA Co., Inc. is Japan’s largest thermal power generation company that mainly uses liquefied natural gas (LNG). The company does not engage in electricity transmission/distribution or retail. JERA has combined the thermal power generation businesses of the Tokyo Electric Power Company (now Tokyo Electric Power Company Holdings [TSE Prime: 9501], “TEPCO”) and Chubu Electric Power Co., Inc. (TSE Prime: 9502) and established its own integrated value chain. This value chain spans upstream gas field development, fuel procurement, transportation, storage, power generation, and wholesale.