*

Plans to buyback shares of up to Y120 bln in

April-September

*

May invest in promising shale gas assets in North America

*

Will consider selling Y100 bln real estate by March 2029

(Adds president quotes and details in paragraph 8-12, and

bullets)

By Yuka Obayashi and Katya Golubkova

TOKYO, March 26 (Reuters) - Tokyo Gas ( TKGSF ) aims to

nearly double its net profit in the 2025/26 fiscal year and

plans to expand in the United States, Japan's biggest city gas

provider said on Wednesday.

The company said it expects net profit to grow to 131

billion yen ($871 million) in the 2025/2026 fiscal year, which

begins on April 1, from 72 billion yen for the year ending this

month. It sees its dividend rising by 10 yen to 80 yen per share

in the current fiscal year.

It also plans a new share buyback of up to 120 billion yen

in the first half of the 25/26 fiscal year, it said.

Tokyo Gas ( TKGSF ) said it wants to increase coordination between its

liquefied natural gas trading and shale gas businesses in the

United States and expand there, while also building its LNG

trading worldwide, mainly through Singapore and London.

"Our shale gas business is expected to become a major profit

pillar in FY25/26," the company's statement said.

The company also outlined its basic policy for formulating a

new 3-year business plan starting in April 2026.

During this period, it aims to invest over 1.1 trillion yen

and plans shareholder returns of over 200 billion yen. It may

also sell around 100 billion yen worth of real estate, it said.

Tokyo Gas ( TKGSF ), which acquired U.S.-based natural gas producer

Rockcliff Energy in 2023, plans to spend at least $1.9 billion

on its U.S. shale business during the three years to March 2029.

"By concentrating in the Haynesville area, we have been able

to lower costs by sharing pipelines, making us one of the most

cost competitive in the region," President Shinichi Sasayama

told a press conference, adding that it may consider investing

in promising shale gas assets in North America.

Asked about interest in buying LNG from the Alaska LNG

project, Sasayama declined to comment, citing a lack of details

such as pricing and contract conditions.

He said decisions on real estate sales in Japan would be

based on synergies with the energy business and overall economic

viability but gave no specific examples of potential asset

sales.

Sasayama also declined to comment on U.S. activist

investor Elliott Management, which bought a 5.03% stake in Tokyo

Gas ( TKGSF ) and has urged it to divest parts of its extensive real

estate portfolio to boost shareholder value.

Tokyo Gas ( TKGSF ) shares closed 2% down in Tokyo.

($1 = 150.4700 yen)

(Reporting by Katya Golubkova and Yuka Obayashi; Editing by

Sonali Paul and Ros Russell)