Press Release Back Number(2007)

TOENEC and C-TECH Swap Responsibilities Following Re-organization

October 1, 2007
Chubu Electric Power Co., Inc.

Chubu Electric Power Group members TOENEC CORPORATION and C-TTEC CRPORATION have cooperated in re-organizations of both companies and have exchanged responsibilities as of October 1, 2007. TOENEC has handed off its operations involving transforming, transmission and engineering work related to underground lines to C-TECH, and C-TECH has turned over its operations related to underground distribution lines to TOENEC.


This re-organization will bring consistency to work orders from Chubu Electric group members, who will now request distribution work from TOENEC and work involving transforming, transmission and engineering from C-TEXH. This is expected to bolster technical skills and the transmission of technical knowledge among staff members, promote cooperation among the internal departments of Chubu electric, TOENEC and C-TECH, and bring accuracy and efficiencies to our operations in repair and maintenance.


Chubu electric anticipates that this re-organization will promote group-wide cooperation and reinforce the entire company group by concentrating our managerial resources.

< Overview of re-organization >

*1
The operations of TOENEC having to do with transforming, transmission and engineering work related to underground line have been transferred to C-TECH by means of corporate separation (assimilative-divisive reorganization) designating TOENEC as divisively reorganizing company and C-TECH as succeeding company.
*2
The operations of C-TECH related to underground distribution lines has been transferred to TOENEC by means of corporate separation (assimilative -divisive reorganization) designating C-TECH as divisively reorganizing company and TOENEC as succeeding company.

TOENEC and C-TECH announced the basic points of their re-organization on January 31, 2007, when they reached the agreement.

< Reference >

Company Overview

(As of March 31, 2007)

  TOENEC Corp. C-TECH Corp.
Business Building electric power facilities; building air conditioning, sanitary, water supply, firefighting facilities; other associated businesses Construction, inspection, maintenance of electric generation, distribution, transforming facilities; building telecommunications facilities; civil engineering, architectural projects; other associated businesses
Established October 1, 1944 March 1, 1962
Company Representative President & Director Yasuhiro Noda President & Directer Masao Shimizu
Capitalization ¥7,680,785,924 ¥720,000,000
Employees 5,508 (consolidated) 1,618
Major stockholders, their shares
  • Chubu Electric Power Co., Inc.
    50.01%
  • TOENEC Employee Stockholders' Club
    6.40%
  • TOENEC Co-prosperity Club
    1.16%
  • Bank of Tokyo-Mitsubishi UFJ,Ltd.
    1.04%
  • The Master Trust Bank of Japan,Ltd (trust account)
    1.03%
  • Chubu Electric Power Co.,Inc.
    67.65%
  • Chuden Kogyo Co.,Ltd.
    32.35%
FY2006 sales ¥199,976,000,000 (consol.) ¥57,810,000,000