Key Point of President's Regular Press Conference

June 2024 Regular Press Conference : President Hayashi's Message

June 26, 2024
Chubu Electric Power Co.,Inc.

I will be discussing the following matters today:

The 100th Annual Shareholders Meeting
Electricity Supply and Demand of this Summer

The 100th Annual Shareholders Meeting

First, I would like to discuss the 100th Annual Shareholders Meeting.
First of all, I am pleased to report that the Annual Shareholders Meeting has been successfully concluded.
There were 321 shareholders in attendance at this year's General Meeting of Shareholders, 38 more than last year.
The duration of this year's General Meeting was 2 hours and 15 minutes, 10 minutes shorter than last year.
In addition to a report from Chubu Electric Power on the status of its business in FY2023, a total of 16 proposals were discussed, including 9 proposals by the company and 7 proposals by shareholders, and the company's 9 proposals were approved.
We received questions and valuable opinions from shareholders regarding various important management issues, including those related to the Hamaoka Nuclear Power Station, and we responded to them in detail.
At this General Meeting, partial amendments to the Articles of Association were discussed and approved in connection with the transition from a "company with Board of Corporate Auditors" to a "company with Audit and Supervisory Committee" system.
As a result of this transition, eight "directors excluding directors who are members of the Audit and Supervisory Committee" and five "directors who are members of the Audit and Supervisory Committee" were appointed.
Of these, one new director and three new members of the Audit and Supervisory Committee excluding the two who were previously auditors, are listed below.
The new director is Mr. Kazuhiro Nabeta.
Mr. Nabeta has served as General Manager of the Corporate Division and General Manager of the Engineering Research & Development Division. In April of this year, he assumed the position of General Manager of the Corporate Planning & Strategy Division, and was elected as a director at this General Meeting.
The next new member of the Board of Directors and Audit & Supervisory Committee is Mr. Shinji Furuta.
Mr. Furuta has previously served as General Manager of the Business Service Division and Specially Appointed Auditor and as he was elected as a member of the Board of Directors and Audit & Supervisory Committee at this General Meeting, he will continue to be engaged in auditing duties.
Ms. Momoko Murase, who has professional knowledge and abundant experience as a lawyer, and Mr. Mitsumasa Yamagata, who has a wealth of experience and knowledge, having held important positions such as President of Hydrogen Factory at Toyota Motor Corporation, have been appointed as new outside directors and Audit & Supervisory Committee members.
Under the new management structure, the Group will continue to work to secure stable income and expenditures in the domestic energy business, and achieve sustainable growth through further expansion of new growth areas and global business, aiming to achieve Management Vision 2.0.
Even in an uncertain business environment expected to continue, the Group aims to be a corporate group that continues to grow and contribute to the development of a sustainable society by achieving both agile decision-making and more sophisticated governance, and by steadily meeting the expectations of all of its stakeholders.

Electricity Supply and Demand of this Summer

Finally, I would like to talk about the electricity power supply and demand this summer.
Temperatures are expected to be higher than the average this summer, but the supply-demand balance in the Chubu area is expected to remain stable even in July, when the reserve margin is projected to be the lowest, at 10.4%, ensuring a reserve margin of 3%, which is the minimum required for a stable supply.
The Group will take all possible measures to ensure a stable supply in the Chubu area by ensuring the operation and maintenance of power plants, transmission and substation facilities, frequency conversion stations, and other facilities to prevent any reduction in supply capacity due to equipment trouble.
We would like to ask our customers to cooperate in the efficient use of energy to within their reasonable limits by utilizing the approaches such as filter cleaning of air conditioning systems shown on our website and the menus listed in the handout.
This ends my presentation.

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