April 2016 Regular Press Conference : Chairman Mizuno's Message

(Financial conditions)

• Our business environment is changing drastically with the full retail deregulation of electric power and progress being made in the electric power and gas system reform. Amid these transformations, Chubu Electric Power drew up a new Management Vision in February, which was followed by March’s Initiatives for Management Issues tailored to achieve this Vision.
• We also adopted an internal company system from April and thereby enabled addressing management issues in a swift, flexible manner.
• Regarding our Executive Officers, in January we announced our executive system as of April 1. Today I therefore will speak about our Director and Corporate Auditor system subsequent to the General Meeting of Shareholders.
• Our new Director and Corporate Auditor personnel were arranged with members that can fully exercise governance by such means as swiftly adapting to rapid business environment changes and adequately supervising executive operations.
• To receive feedback on our management issues from a broad array of viewpoints, we selected External Directors and Outside Auditors in a well-balanced fashion as usual from experienced managers and individuals extensively versed in law, finance, and economics.

(Director personnel)

• First of all, I would like to talk about Director candidates.
• The number of directors will remain the same with 12 members. Nine of them have been reappointed while three are newly appointed.
• Candidates for newly appointed Directors are Chubu Electric Power’s Senior Managing Executive Officer Mr. Kataoka, along with Ms. Naoko Nemoto, Financial Economist at Asian Development Bank Institute, and Mr. Takayuki Hashimoto, Vice Chairman of IBM Japan, as External Directors.
• Ms. Hideko Katsumata and Mr. Yoshifumi Iwata, currently serving as External Directors, are retiring.
• Ms. Katsumata and Mr. Iwata served their posts for nine years from FY2007 and three years from FY2013, respectively, and provided us their invaluable views while addressing scores of management issues. I would like to take this opportunity to express my heartfelt gratitude to them.

(Corporate Auditor personnel)

• I now would like to move on to Corporate Auditor candidates.  
• We will have four new corporate auditors while four will be completing their service term.
• Candidates for newly appointed Corporate Auditors are Chubu Electric Power’s current Director Mr. Kazuhiro Matsubara and Advisor Mr. Kenichi Suzuki. Mr. Nobuaki Katoh, Chairman of Denso Corporation, and Ms. Fumiko Nagatomi, an attorney at law, are the Outside Director candidates.
• Our current full-time Corporate Auditors Mr. Hidetaka Tomita and Mr. Hideki Ogawa, along with our Outside Auditor Mr. Shigehisa Sao and Mr. Tokuichi Okaya, are retiring.
• Mr. Sao and Mr. Okaya served their posts for eight years from FY2008 and four years from FY2012, respectively, and provided us their invaluable views and suggestions based on broad perspectives. I would like to take this opportunity to express my heartfelt gratitude to them.

(Summary)

• What the energy business environment is encountering is a great change.
• Under a new management system, Chubu Electric Power Group will continue to deliver electric power in a safe and stable manner. At the same time, we will endeavor to live up to expectations while working to create new value on account of changes of the times.