FPS

What FPS does

FPS (株式会社FPS) is a Japanese renewable energy and new-electricity retailer and wholesaler founded on November 19, 2021 and headquartered in Akasaka, Minato-ku, Tokyo. The company operates as the retail electricity arm of GLP Group, a logistics real estate conglomerate, and in 2022 succeeded the business foundation of major new power retailer F-Power, inheriting a retail contract base of approximately 4 million kW. FPS serves extra-high-voltage, high-voltage, and low-voltage commercial and industrial customers in the Kanto region with five electricity pricing menus (BASIC, FLEXIBLE market-linked, FIXED, HYBRID, and gREen non-fossil certificate option), Corporate PPA services (on-site and off-site), a renewable energy aggregator service for distributed generation, and a non-fossil certificate purchasing agency. The company's stated technology core is a Virtual Power Plant integrating grid-connected battery storage, renewables, EV, and demand response, with operational participation in Japan's balancing market, JEPX spot exchange, and capacity market using battery assets since June 2026.

Revenue is generated through electricity retail subscriptions (monthly and annually billed), Corporate PPA contracts (long-term subscription/recurring), transaction-fee non-fossil certificate agency services, and managed aggregator services bundling distributed renewables. Go-to-market is sales-led enterprise field and inside sales, with content marketing (downloadable white papers on RE100 roadmaps and PPA guides) feeding top-of-funnel demand and multiple specialized inquiry forms (electricity estimation, non-fossil certificates, aggregator, PPA) converting bottom-of-funnel leads with a 3-business-day response commitment. Distribution is exclusively domestic through direct enterprise sales and dedicated customer portals (portal.fps-inc.jp for high-voltage, portal.lvp.fps-inc.jp for low-voltage). Named enterprise customers include Konica Minolta, Ricoh Lease, Kennedix, Ohisama Fruits Yamanashi, Leapton Energy, and Enelusion, spanning manufacturing, finance, real estate, agriculture, solar EPC, and energy analytics. Leadership consists of Representative Director (CEO) Dō Yōhei (洞洋平), and the company is privately held with no disclosed funding rounds, revenue, or headcount beyond a stated 1–10 employee range.

Name

FPS

Legal name

株式会社FPS

Website

https://fps-inc.jp

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

FPS is a Japanese renewable energy and electricity retailer/wholesaler serving extra-high-voltage and high-voltage commercial and industrial customers with electricity menus, Corporate PPA, renewable aggregation, and non-fossil certificate agency, operating as the retail power arm of GLP Group.

Ownership category

akta.pro rank

Product category

Retail Electricity / Renewable Energy Supply

NAICS

Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911)

akta.pro primary industry

Retail Supply + DER/Virtual Power Plant Bundles (Solar, Storage, DR) (EUAGABAI)

akta.pro secondary industry

Hybrid PPAs (Renewables + Storage) & Firm Renewable Products (EUAGADAI)

Keywords

• Renewable energy retail
• Corporate PPA
• Virtual power plant
• Electricity supply
• Non-fossil certificates

Headquarters

HQ city

Yasu

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Electricity Retail: Retail electricity supply to commercial and industrial customers with various pricing menus (BASIC, FLEXIBLE market-linked, FIXED, HYBRID) and optional gREen non-fossil certificate packages
2. Corporate PPA: On-site and off-site Power Purchase Agreement services providing long-term renewable energy procurement for corporate customers seeking decarbonization
3. Non-Fossil Certificate Agency Services: Agency service purchasing non-fossil certificates on behalf of customers to support carbon-neutral business operations; handles bidding procedures, settlement, and certificate management
4. Renewable Energy Aggregator Services: Aggregator services bundling distributed renewable energy sources, reducing imbalance risks, and managing complex supply operations for generators and consumers

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels3 records

Core offering

FPS supplies renewable energy-derived electricity to extra-high voltage and high voltage commercial and industrial customers in Japan, offering four menu plans (BASIC, FLEXIBLE, FIXED, HYBRID) plus a gREen Option add-on. Beyond standard retail supply, it provides Corporate PPA (on-site and off-site), renewable energy aggregation, non-fossil certificate purchasing agency services, and operates battery storage and VPP (Virtual Power Plant) trading on Japan's balancing, spot/forward, and capacity markets.

Product overview

FPS (株式会社FPS) operates as a renewable energy and new electric power retailer and wholesaler, offering a comprehensive portfolio of electricity and environmental value services. The core offering consists of electricity retail with five menu types (BASIC, FLEXIBLE/Market-linked, FIXED, HYBRID, and gREen option), complemented by Corporate PPA services (both onsite and offsite), a renewable energy aggregator service that bundles scattered renewable sources, and a non-fossil certificate purchasing agency. These services are designed for commercial and industrial customers (special high-voltage/high-voltage and low-voltage), helping them achieve flexible electricity procurement, decarbonization, and renewable energy expansion through mechanisms like virtual PPA, physical PPA, and non-fossil certificates. The company also recently expanded into grid battery storage trading and VPP operations.

Differentiator

Problem solved

Functional benefit

Brands

• gREenプラン: Renewable energy utilization product offering CO2 emissions reduction through non-fossil certificates.

Products and services

• BASIC Menu A retail electricity menu plan from FPS primarily targeting extra-high voltage and high voltage demand customers with a market-linked pricing structure.
• FLEXIBLE Menu A retail electricity menu plan offering flexible pricing terms for extra-high voltage and high voltage commercial and industrial customers.
• FIXED Menu A retail electricity menu plan with fixed-price contracts, providing predictable electricity costs for extra-high voltage and high voltage commercial and industrial customers.
• HYBRID Menu A retail electricity menu plan that combines characteristics of market-linked and fixed pricing, for extra-high voltage and high voltage commercial and industrial customers.
• gREen Option An add-on option from FPS that allows commercial and industrial customers to use renewable energy-derived electricity without changing their existing electricity contract.
• Corporate PPA (On-site / Off-site) A long-term corporate power purchase agreement where, under the on-site model, FPS installs and operates solar power systems on the customer's rooftop and sells the generated power to the customer, and under the off-site model, FPS offers environmentally friendly menu plans with virtually 100% renewable energy.
• Renewable Energy Aggregator Service A service in which FPS purchases electricity from power generation operators nationwide in Japan, aggregating renewable energy supply from various generators including non-captive ones.
• Non-Fossil Certificate Purchasing Agency Service An agency service where FPS intermediates non-fossil certificate transactions between sellers and corporate buyers, supporting decarbonization and non-fossil value procurement.
• Battery Storage Trading Service A service in which FPS operates and trades electricity stored in storage batteries, dispatching into Japan's balancing market, Japan Electric Power Exchange (JEPX) spot and forward markets, and the capacity market.
• VPP (Virtual Power Plant) Operations A Virtual Power Plant operation in which FPS aggregates distributed energy resources, including customer-side storage batteries, to provide grid balancing, renewable integration, and capacity services.

Quantifiable outcome

• Supplied retail contracts of approximately 4 million kW with minimal imbalances
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Konica Minolta (コニカミノルタ株式会社)flagshipStrategic or Co-development Partner · 1 July 2026FPS has entered into a Virtual PPA contract with Konica Minolta to provide renewable energy environmental value (non-FIT non-fossil certificates) from solar photovoltaic generation. The agreement covers approximately 1,000,000 kWh/year, enabling Konica Minolta to reduce Scope 2 greenhouse gas emissions and expand renewable energy utilization. FPS acts as the designated wholesale supplier aggregating environmental value from solar power plants and delivering it to Konica Minolta under a long-term arrangement.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• NTT Anode Energy Corporation: NTT Group's energy arm combining retail electricity supply, corporate PPA, and renewable energy aggregation with a major captive customer base. Highly comparable in business mix and customer segment to FPS, especially for corporate PPA and aggregator services.
• RENOVA, Inc. Japanese renewable energy IPP and retail electricity provider developing solar, wind, biomass, and geothermal assets with corporate offtake PPAs. Comparable to FPS's Virtual PPA origination and renewable aggregation capabilities.
• Looop Inc. Japanese independent new-power retailer with a renewable energy focus and rooftop solar development arm. Closely mirrors FPS's positioning as a deregulated retail electricity provider serving consumer and C&I customers with renewable supply, making it the most direct functional comparable.
• UPDATER Inc. (formerly Minna Denryoku): Japan's most prominent renewable-energy-focused retailer with a 'face-to-face' tracing model that links specific generators to specific consumers. Directly comparable to FPS's renewable retail, corporate PPA, and non-fossil certificate agency services.
• eRex Co., Ltd. One of Japan's largest new-power retailers (IPP + retail), with a renewable-heavy generation portfolio and corporate supply offerings. Comparable to FPS across retail supply, PPA origination, and renewable IPP/aggregation functions.
• F-Power, Inc. The predecessor new-power company whose business foundation FPS inherited in 2022. Functions as a directly comparable Japanese new-power retailer in the same deregulated retail and C&I supply segment FPS now operates in.

Broad incumbents

• ENEOS Corporation: Japan's largest petroleum and energy conglomerate with significant renewable generation and retail electricity (ENEOS Power). Competes with FPS in C&I retail supply and renewable PPAs but as part of a much broader portfolio of fuels, refining, and upstream businesses.
• Tokyo Gas Co., Ltd. Major Japanese utility with a substantial electricity retail business, renewable energy investments, and corporate decarbonization offerings. Overlaps with FPS on retail supply and PPA but operates across a much wider portfolio (gas, LNG, energy services).
• TEPCO Energy Partner, Inc. Retail electricity arm of Tokyo Electric Power Company serving the Kanto region — FPS's primary service territory. A broad incumbent offering overlapping retail supply and renewable products to C&I customers, though across a much larger legacy customer base.

Emerging players

• SB Energy Corp. SoftBank Group's renewable energy platform operating utility-scale solar and battery projects in Japan. Comparable to FPS in renewable generation aggregation, battery storage, and corporate PPA origination, though focused more on asset ownership than retail electricity supply.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FPS