Tokyo Broadcasting System Holdings Inc., a Japanese billion dollar media holding company, has been looking to enter the blockchain space for a while now.
As reported by Nekei, the company will switch from regular energy to renewable energy. This renewable energy runs on the blockchain technology to power their theaters and live houses starting from 16th October, 2019.
Adapting To The Times With Blockchain
By adopting blockchain, TBS Holdings looks to improve its corporate image. Plus, offer investors hope and also contribute to the UN’s Sustainable Development Group.
For sometime now, the investors sentiment towards the company has remained passive. This is because TBS Holdings had its operating profits fall to 19 billion Yen — from its previous 22 billion Yen in Q3 2018.
Tokyo Broadcasting System Holdings Inc. falls as much as 14%, the most since March 2011, after surprise cut in FY earnings forecasts.
READ: Tokyo Broadcasting Reports 9-Month Group Earnings Results
FY03/18 operating profit lowered to 19b yen, from previous 22b yen
— D.A. Market Securities (@itradeph) February 9, 2018
TBS Holdings Is Not New To The Renewable Game
It is also not the first time the company is using renewable energy. TBS Holdings had switched to a renewable source to power their TBS Radio Transmitter (located in Toda City) back in December, 2018.
Even the company’s power retailers have been successfully using blockchain technology.
From 16th October, the “Akasaka ACT Theater” and the “Sacas Square” will be switched to a renewable energy source. According to the company, the Akasaka ACT Theater is Japan’s first large-scale facility that uses renewable source to cover all its energy needs.
Blockchain technology will be used to record energy transactions. Everytime a plant is powered by renewable energy, the data is collected, location is recorded, and eventually these details stored on the blockchain.
To achieve this, the company will use Hirosaki Apple Power, a snow-powered mega solar power plant (1500 kW output) in Hirosaki City as the main source of renewable energy.