Key Point of President's Regular Press Conference

FY2025 Q3 Financial Results & January 2026 Regular Press Conference: President Hayashi's Message

February 02, 2026
Chubu Electric Power Co., Inc.

First, I would like to address the inappropriate matter concerning the formulation of reference seismic motions that we disclosed on January 5.
On January 15, we visited the mayors of Omaezaki City, Kakegawa City, Kikugawa City, and Makinohara City, and on the 20th, we visited the Governor of Shizuoka Prefecture to offer our apologies and explanations.
I personally listened directly to everyone's opinions. I recognize anew that this matter has severely damaged the trust of local residents and is an extremely serious issue affecting the very foundation of our nuclear power business. At the same time, I feel we must rebuild trust from scratch.
Furthermore, at the 51st Nuclear Regulation Authority meeting held on January 14th, a decision was made to issue a report request order to our company, and the Nuclear Regulation Agency's future response policy was approved. On the 26th, a nuclear regulation inspection was conducted by the Nuclear Regulation Authority.
Our company takes the Nuclear Regulation Authority's report request order and the Nuclear Regulation Agency's response to this matter extremely seriously. We will continue to respond sincerely to the Nuclear Regulation Commission's instructions.
Once again, we sincerely apologize for causing a serious incident that could potentially undermine the very foundation of the nuclear power business.

I will be discussing the following matters today:
- Financial results for the third quarter of fiscal 2025
- Changes in Executive Officer Responsibilities

Financial Results for the third Quarter of FY2025

First, I will discuss the "Financial Results for the third Quarter."
Consolidated net sales for the third quarter of FY2025 totaled 2,566.3 billion yen. Due to factors such as a decrease in fuel cost adjustments, this represents a decrease of 85.2 billion yen compared to the same period last year.
Ordinary income totaled 240.7 billion yen.
Although we terminated outsourcing contracts related to the review of compliance with new regulatory standards at the Hamaoka Nuclear Power Station due to inappropriate practices, and recorded expenses for work already performed, profit increased by ¥18.4 billion compared to the same period last year. This was due to factors such as an expansion in deferred income and increased profits at JERA, influenced by fuel procurement effects.
Consolidated ordinary income excluding the time-lag margins was about 226.7 billion yen, an increase on the order of 202.5 billion yen year-on-year.
Quarterly net income attributable to owners of the parent company amounted to 85.3 billion yen, an increase of 35.4billion yen year-on-year.

FY2025 Business Forecast

Next, I will discuss the performance outlook for fiscal year 2025.
There is no change in our business outlook for FY2025, as we expect approximately the same results as those announced previously on October 28.
Consolidated net sales are expected to be approximately 3,550 billion yen, consolidated ordinary income is expected to be approximately 230.0 billion yen, and net income attributable to owners of the parent is expected to be approximately 185.0 billion yen.

Changes in Responsibilities of Executive Officers, etc.

Next, I will discuss "Changes in Responsibilities of Executive Officers, etc."
At today's Board of Directors meeting, we decided to make some changes to the responsibilities of Executive Officers within the Nuclear Power Division. Here, I will explain the specific changes for Executive Officers.
First, Mr. Tetsuya Toyoda, Head of the Nuclear Power Division, concurrently serving as General Manager of the Hamaoka Nuclear Power Station and Chief Nuclear Officer (CNO), assumed these roles last November following the resignation of former Vice President Ichiro Ihara. Mr. Toyoda had been concurrently serving as General Manager of the Hamaoka Nuclear Power Station, a dedicated position responsible for ensuring the safety of the power station, while also serving as Head of the Nuclear Power Division and CNO.
However, in light of the inappropriate incident concerning the formulation of the reference seismic motion disclosed on January 5, and recognizing that as the person responsible for the nuclear power business, he needs to provide more thorough explanations to local residents and other stakeholders, and that within the company he must take the lead in responding to the Nuclear Regulation Authority's regulatory inspections and the investigation by the third-party committee, it has been decided to review the concurrent duties he holds.
Furthermore, Mr. Fumitake Miyamoto, Deputy General Manager of the Nuclear Power Division, has been working since December last year to rebuild the nuclear power sector's structure, focusing on monitoring, supervising, and promoting compliance and risk management. In light of this recent incident, his responsibilities as Deputy General Manager will no longer be limited to specific duties. He will now be broadly involved in all aspects of the nuclear power business, including driving organizational culture reform and strengthening governance.
These changes to the responsibilities of executive officers and others are intended to ensure careful and appropriate responses to the ongoing Nuclear Regulation Authority inspections and the investigation by the third-party committee.
I personally believe that fully cooperating with the investigations to clarify the facts as quickly as possible is of utmost importance.
Furthermore, I will take the lead with determination to identify challenges in our governance, compliance, organizational culture, and other areas, while also considering a "deconstructive restructuring" of the nuclear power division.
This ends my presentation.

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