Receipt of a Demand for Filing an Action from Shareholders

Today, auditors of Chubu Electric Power Co., Inc. (“Chubu Electric Power”) received a document that demands the filing of an action to hold the directors accountable (“demand for filing an action”) from six individual Chubu Electric Power shareholders.

Chubu Electric Power was found to have violated the Article 3 of the Antimonopoly Act that prohibits unreasonable restraint of trade (“this act”) by the Japan Fair Trade Commission. The demand for filing an action calls that 20 current and former Chubu Electric Power directors be held accountable for the damages from this act totaling 37.7 billion yen and associated delinquency charges incurred as a result of the directors’ participation or disregard for this act, and other violations of their duty of care.

Chubu Electric Power auditors will deliberate over the appropriate response this demand for filing an action.

We will swiftly notify the public when a decision is made on whether to file an action to hold the directors accountable.