January 2023 Regular Press Conference : President Hayashi's Message

• As it was announced by Senior Managing Executive Officer Mizutani earlier, ordinary income/loss excluding adjustment made to reflect accounting standards for the current full fiscal year is expected to be significantly higher than the expected deficit of Q2 2022 Financial Results due to worldwide LNG demand and supply easing and resource prices dropping, resulting from record warm winter in Europe.


• Trend of resource prices and mid-term business environment remain uncertain, but our year-end dividend forecast has been revised from “undecided” to “25 yen” based on improved probability of security profit for the current fiscal year and expectations of shareholders and investors regarding stable dividends.

• Next, I would like to talk about the measures to reduce the burden of the electricity rate.
• Today, Chubu Electric Power Miraiz announced the unit price for the standard electricity rate menu for special high-voltage and high-voltage customers to be launched from April 1.
• It is very painful for us to ask customers to increase their burden in order that we stably supply electricity to as many customers as possible amid soaring prices.
• On the other hand, as we have explained earlier, the Group’s financial results for the current fiscal year are expected to drastically improve as a result of a combination of various variables.
• The Chubu Electric Power Group promptly incorporates changes in the business environment into our policies.
• Many variables and uncertainties are likely to remain in the next fiscal year, and we have instructed to review such items to implement measures to reduce the burden of the electricity rate for our special high-voltage and high-voltage customers in light of the recent trend in resource prices.
• In specific, we will continue to examine ways to reduce the increased burden caused by the revision of the standard electricity rate menu in consideration of the future business environment and our financial situation. We will make an announcement by the end of March.
• The Chubu Electric Power Group will continue to make utmost efforts to contribute to the sustainable development of the region and society with our customers.
• Thank you for your understanding.

• Next, I would like to discuss our executive personnel assignments.
  I would like to introduce the new executive structure we decided today.

(Executive personnel assignments effective April 1)

• I would like to present the executive personnel assignments that will be effective on April 1 for Chubu Electric Power.
• The current division general managers, supervisors and company presidents who lead each division will continue to be appointed as the person in charge, in order to steadily implement the initiatives for realizing Management Vision 2.0 while assessing the business environment amid the risk of fluctuations in fuel prices, foreign exchange rates and wholesale electricity market prices.
• Next, for the executive structure of Chubu Electric Power Grid and Chubu Electric Power Miraiz, excellent human resources were appointed to strengthen field capabilities so that management and the field can work together to address management issues toward realizing Management Vision 2.0.

(Executive personnel assignments after the Annual General Meeting of Shareholders in June)

• The candidates for the directors and auditors have been decided, which we will seek approval for at the Annual General Meeting of Shareholders to take place in June.
• The candidates for the directors are the nine directors to be reappointed. The candidate for a new external auditor is Mr. Kiyoaki Nakagawa. Mr. Nakagawa has a wealth of experience and a wide range of insight, having worked as public prosecutor for many years and served as the Director General of the Public Security Intelligence Agency and Superintending Prosecutor of the Nagoya High public Prosecutors Office.
• The Chubu Electric Power Group will make steady progress in realizing Management Vision 2.0 by simultaneously attaining our unchanging mission and creating new values under the new executive structure determined today.