SODEN Doubles Revenue to 5.73 Billion Yen in FY2026, Targets 2 GWh of Distributed Battery Storage by 2030

SODEN Co., Ltd. (headquartered in Chuo City, Tokyo; Representative Director: Rui Iino) announces that consolidated revenue for the fiscal year ended May 2026, its fourth fiscal year, nearly doubled year on year to 5.73 billion yen. Operating profit reached 410 million yen, marking the company’s third consecutive profitable year.

SODEN is a virtual power plant (VPP) startup with a mission to “create an open world where everyone can freely manage electricity.” By combining battery storage with technology, the company is building distributed battery storage facilities. It installs batteries in small spaces across cities and controls them as a unified resource, enabling electricity to be stored, used, and sold efficiently.

Since its founding in 2022, SODEN has built the foundations needed for this vision, one business at a time. In the fiscal year ended May 2026, it launched its distributed battery storage business, taking its first step toward bringing the concept to life.

FY2026 Highlights

In the fiscal year ended May 2026, SODEN expanded the energy resources that form the core of its VPP while bringing construction and operations capabilities in-house. These efforts drove substantial growth in both business scale and earnings.

The company accelerated the development of energy resources that will support future integrated VPP control. In its grid-scale battery storage business, SODEN began developing seven large high-voltage and extra-high-voltage projects with a combined capacity of 64 MW.

SODEN also began installing 5.2 MW of solar power systems across 51 sites. It brought power plant management services in-house, enabling it to handle renewable energy projects from installation through operation. More than 500 EV fast chargers were installed nationwide. Across its businesses, SODEN earned the trust of a diverse range of partners and established a stable revenue base.

By building an integrated structure spanning development, construction, and operations, SODEN substantially increased its development speed and strengthened its cost competitiveness. This has established a foundation for steadily expanding project development across Japan.

As a result of business growth and stronger construction and operations capabilities, consolidated revenue nearly doubled year on year to 5.73 billion yen. SODEN now has the business foundation to scale its distributed battery storage business, which will aggregate and control energy resources developed across individual sites.

Its order backlog continues to grow. Based on orders received to date, SODEN expects consolidated revenue of approximately 10 billion yen for the fiscal year ending May 2027.

Next Steps

SODEN aims to build a total of 2 GWh of distributed battery storage by 2030.

To reach this goal, the company will accelerate both the development of physical assets and the rollout of its own systems and software for controlling them.

SODEN has been developing a local energy management system (EMS) and gateway that can be used at both grid-scale and distributed battery storage facilities. It plans to introduce them progressively at the storage facilities it develops beginning in fall 2026. Together, these technologies will establish a VPP cloud platform that enables SODEN to manage electricity market operations and real-time control of on-site equipment through its own systems.

By developing physical assets, control systems, and software for market operations together, SODEN will continue working toward a distributed energy system built around its VPP.

Comment from Rui Iino, Representative Director, SODEN Co., Ltd.

“In the fiscal year ended May 2026, we achieved revenue of 5.73 billion yen, nearly double the previous year, and recorded our third consecutive profitable year. I would like to thank our investors, partners, and customers for their support.

SODEN’s vision is a world where anyone can freely store, use, and sell electricity. We aim to make this possible by installing batteries in small spaces across cities and controlling them as a unified resource. Distributed battery storage is the most challenging part of that vision.

It requires every element to come together: relationships with customers who can provide installation sites, expertise in grid connections, the ability to build and operate battery systems, and software that can respond to electricity market conditions. During our first four years, we launched businesses in EV charging, grid-scale battery storage, solar power, and power plant management, building the foundations for distributed battery storage one by one.

Over the past year, those foundations have come together. With a target of 2 GWh by 2030, we can now move into the next stage: bringing these energy resources together. As a VPP startup that handles everything from asset development to market operations in-house, we will continue working toward a distributed energy system.”