Marubeni and SmartestEnergy form new joint venture to power Japan’s electricity trading market

Marubeni Corporation companies to combine retail scale and global trading expertise in new venture aimed at a more flexible, resilient Japanese power market

01 October 2025 – Marubeni Power Retail Corporation (MPR) and SmartestEnergy Limited, both subsidiaries of Marubeni Corporation, have launched Marubeni Power Trading Co., Ltd, a new joint venture dedicated to expanding and modernising electricity trading in Japan.

MPR entered Japan’s electricity retail market in 2011 and is now among the country’s top electricity retailers by sales volume. SmartestEnergy, founded in the UK in 2000 and acquired by Marubeni in 2001, specialises in renewable power and advanced trading, operating in the UK, US and Australia.

Japan’s electricity market is experiencing rising demand from data centres, semiconductor plants and other large-scale facilities, while fluctuating imported fuel prices and the growth of renewable energy are adding new complexity. Advanced trading capabilities are critical to balancing supply and demand by region, time and season, as well as stabilising wholesale prices in both future and spot markets.

The joint venture will combine MPR’s extensive domestic customer base with SmartestEnergy’s global electricity trading expertise to strengthen Japan’s wholesale market, boost liquidity and support price stability, and underlines the trust and confidence Marubeni has in SmartestEnergy and MPR to execute this vision. The venture will also enable greater integration of renewable generation into the grid as Japan progresses towards its ambition of net zero by 2050.

“This initiative reinforces Marubeni’s commitment to growth, value creation and scalable energy solutions,” said Hidemoto Toda, CEO of Marubeni Power Trading. “We are coming to the venture with aligned values, mission and purpose, and by combining our capabilities we will strengthen market stability and accelerate Japan’s transition to low-carbon power.”

Robert Groves, CEO of SmartestEnergy said: “We’re bringing over two decades of trading expertise to one of the world’s most dynamic power markets. As Marubeni Power Trading, we’ll provide Japanese businesses and generators with the tools to navigate a more complex energy landscape, ensuring reliable supply, transparent pricing and a stronger foundation for net zero. This marks a significant moment for SmartestEnergy as we continue to expand our global operations and positions us well for our continued growth plans.”

Atsushi Suzuki, CEO of Marubeni Power Retail Corporation said: “This joint venture leverages our market presence and SmartestEnergy’s proven trading expertise to create long-term value in Japan’s evolving power sector. By strengthening price stability and enabling more competitive energy solutions, we’re positioned to capture growth while supporting Japan’s low-carbon ambitions.”