Weather forecasters are finding a lucrative niche in Japan¡¯s power-trading boom, selling hyper-specialized data to firms seeking an edge in one of the world¡¯s most volatile electricity markets.
Weathernews is among a handful of companies cashing in on demand for meteorological data. The Tokyo-listed company¡¯s shares have surged 50% in the last year as investors bet on its expanded use of artificial intelligence, among other factors. The firm says it¡¯s supplying ¡ª or is in talks to provide ¡ª data to several dozen power traders, about a third of which are based outside Japan.
¡°Two or three years ago, we weren¡¯t in touch with any overseas firms looking to use our services for trading power,¡± said Yasuaki Takeda, executive officer of Weathernews¡¯ energy and retail business division.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.