In accordance with the basic agreement with Tokyo Electric Power (TEPCO), announced on June 26, 2002, and on the subsequent final agreement, Tomen Corporation transferred 50% of the shares in Tomen Power Holdings to TEPCO on September 30. Later, at an extraordinary meeting of Tomen Power Holdings shareholders it was resolved to change the name of the corporation, and on October 1, a capital increase was completed.
The corporation's new name is Eurus Energy Holdings Corporation. This name derives from the name of the Greek God of the East Wind, Eurus, and symbolizes the desire to apply the strategic synergy resulting from the collaboration of Tomen and TEPCO in pursuing projects internationally, together with Japanese, US and European development companies.
