Key Point of President's Regular Press Conference

Key Point of President's Regular Press Conference

June 2023 Regular Press Conference : President Hayashi's Message

June 28, 2023
Chubu Electric Power Co.,Inc.

  • I will be discussing the following matters today:
    • The 99th Annual Shareholders Meeting
    • Executive Officer Assignments
    • Electricity Supply and Demand of this Summer

The 99th Annual Shareholders Meeting

  • First, I would like to discuss the 99th Annual Shareholders Meeting.
    First of all, I am pleased to report that the Annual Shareholders Meeting has been successfully concluded.
  • As the severity rating of the novel coronavirus was downgraded to Class 5 under the Act to Prevent Infection Diseases, we increased the number of seats available in the meeting venue. As a result, this year’s Shareholders Meeting was attended by 283 shareholders, 98 more people than last year.
  • The duration of this year's General Meeting was 2 hours and 25 minutes, 28 minutes longer than last year.
  • The Annual Shareholders Meeting heard the company’s business status report for FY2022, and deliberated 10 items on the agenda: four items presented by the company and six items submitted by shareholders. The four company-presented agenda items were approved.
  • Shareholders offered invaluable opinions and asked questions about important management issues which we respectfully answered, including:
    • Hamaoka Nuclear Power Station
    • Efforts to realize a decarbonized society
    • Electricity charges
    • Order to pay a surcharge according to the Antimonopoly Act
  • In addition, nine directors were elected to the Board of Directors to address various management issues promptly and appropriately in the midst of rapid changes in the business environment.
  • In today’s Shareholders Meeting, two auditors assumed office.
  • The new permanent auditor is Tomoyuki Sawayanagi.
    Mr. Sawayanagi previously served as an auditor for Chubu Electric Power Grid but as of this Shareholders Meeting, assumed the position of auditor for Chubu Electric Power. He will continue to serve his role at Chubu Electric Power Grid as a part-time auditor.
  • Seimei Nakagawa, a Former Chief Public Prosecutor of the Nagoya High Public Prosecutors Office also assumed his role as a new outside auditor. He has a wealth of experience in the legal profession and is known for his deep and expert insight.
  • Under the new management structure with these two new members, we are working quickly to stabilize profits in the domestic energy business and achieve mid-term management targets and realize Management Vision 2.0. To this end, the Group will work together as one to advance efforts to:
    • deliver stable and affordable supply of electricity
    • restart the Hamaoka Nuclear Power Station,
    • realize a decarbonized society, as well as
    • further expand growth areas.
  • Keeping in mind that trust from customers and society is at the foundation of our business, we will continue to work ceaselessly to ensure compliance and strengthen governance.

Executive Officer Assignments

  • Next, I would like to talk about personnel assignments for the managerial level effective July 1.
  • 2105 people were given new assignments this year, an increase of 800 people compared to last year. This increase is mainly due to the ongoing organizational restructuring at Chubu Electric Power Grid, and otherwise, the numbers of new assignments are on par with last year.
  • The three Chubu Electric Power companies are allocating people to decarbonization and to growth areas, and is engaging in a human resource strategy built on the pillars of “creating an environment where diverse workforce can thrive” and “providing opportunities and support to employees who are challenging themselves to undergo personal transformation” to realize the Management Vision 2.0.
  • In this personnel change, people were allocated to the following priority areas:
    • Development of renewable energy sources such as offshore wind power and solar power
    • Businesses on a global scale, regionally-focused health care, resources circulation business
  • In addition to reallocating personnel to priority areas, we are also actively recruiting experienced personnel. In this fiscal year alone, we have employed more than 60 mid-career hires.
  • Through these two efforts, we have been able to assign 130 people to these priority areas. We feel this is testament to the progress we are making in increasing our personnel base to expand growth business areas and diversifying the workforce.
  • Next, we have also introduced the “My Career Internal Job Posting System” this fiscal year as part of our human resource strategy. This system has encouraged employees to take the initiative in shaping their own careers, vitalized interactions among divisions, and has led to the development of a more diverse workforce.
  • Furthermore, we have appointed 26 women to management level positions, and are making steady progress toward the goal of “tripling the number of female managers in FY2025 compared to FY2014 (103 people)”.
  • The three Chubu Electric Power companies will achieve KPIs for the My Career Internal Job Posting System postings and the number of female managers, and increase corporate value through the growth and active participation of all employees.

Electricity Supply and Demand of this Summer

  • Finally, I would like to talk about the electricity power supply and demand this summer.
  • This weekend marks the beginning of July and the official start of summer.
    We project that this summer we will be able to deliver a stable supply of electricity. The reserve capacity is 7.8% even in September when the projected supply reserve capacity is lowest, surpassing the 3% reserve capacity said to be necessary for a stable supply.
  • On the other hand, electricity supply in the Tokyo area is expected to be very tight, with a projected reserve capacity for July at 3.1 %.
  • To ensure that supply capacity is not diminished due to equipment issues, Chubu Electric Power Group will closely manage the operation and maintenance of power plants along with transmission and substation facilities to secure stable supply in the Chubu area while also contributing to stable supply across regions.
  • While the Chubu area this summer is not in a situation where we must ask for our customers to conserve energy as we did last year, Chubu Electric Power Miraiz is instituting the following initiatives to encourage customers to save electricity:
    • NACHARGE, a program that grants points based on the amount of electricity saved during a specified time of day
    • Energy Conservation Challenge, a program that grants points based on the amount of electricity saved in a month
    • Energy Saving Appliance Replacement Campaign, a campaign where points are granted to customers who replace their home appliances such as air conditioning units and fridges with more energy efficient models
  • Please make use of these programs and others and use electricity efficiently.

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