JERA, Japan's largest electricity producer, has initiated a feasibility study for a listing on a U.S. stock exchange, according to three people familiar with the matter.
The Tokyo-based utility is exploring the move as part of a broader strategy to expand its overseas footprint and access a wider range of funding options in global capital markets.
The potential listing would mark a significant step in JERA's internationalization efforts, allowing the company to tap into deeper pools of liquidity and attract a more diverse investor base.
By considering a U.S. debut, JERA aims to strengthen its balance sheet flexibility and support its growing portfolio of international energy projects.
This development comes as JERA navigates a complex energy landscape, having recently signaled that liquefied natural gas (LNG) prices are likely to remain firm in the near term.
The company has pointed to delayed supply recovery in the Middle East and persistent demand from Europe as key drivers supporting higher gas prices, which directly impacts its cost structure and investment planning.