Chubu Electric Power Co.,Inc. | November 22 2010 Joint Declaration - Joint Statement

Joint Declaration of the Chubu Electric Power Group Compliance Committee November 22, 2010 Joint Declaration

Joint Declaration of the Chubu Electric Power Group Compliance Committee

November 22, 2010

Under the leadership of top management, the Chubu Electric Power Group has constructed and maintained a compliance promotion system and endeavored to build this system up. Nevertheless, as the work concealed at Chubu Electric Power’s hydroelectric power station and other scandals indicate, inappropriate events happen even today. This makes it apparent that compliance has not fully taken root.
A look at the situations of group companies shows that our efforts so far have constructed and maintained a compliance framework and various systems, but we need to put even greater effort into making sure these operate and function adequately.
In addition, many compliance issues are deeply rooted in an organization’s culture. Without establishing an organizational culture where there is good communication and personnel are able to candidly exchange views, it is not only difficult to prevent inappropriate events from happening, but it is also difficult to resolve them.
In addition, situations have been observed in which our employees have made unreasonable demands and shown arrogance toward our business partners. However, we should realize that our business partners are important colleagues who operate their businesses to reach the same goals as us, and the imposition of such demands on our business partners is a major factor inhibiting the practice of compliance.

Based on such an awareness, we, the top management, declare that we will have compliance take root as part of our common group culture by ascertaining the actions and attitudes that we are called on to perform and continuing to practice these as stated below.

1. So that our compliance promotion framework and system functions adequately, we will continually ascertain the status of these operations and take necessary measures, including announcing our own policies and improving the framework and systems.

2. We reaffirm that an organizational culture, in which there is good communication, is necessary and essential for promoting compliance, and we will work to create such a culture and encourage proactive action by management so that such a culture is widespread throughout all corners of our organization.

3. We recognize that the construction of a relationship in which we respect our business associates as partners and develop together is the necessary foundation for carrying out our business activities, and we will imbue such an idea in each and every one of our employees.

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