Regular Press Conference for February 2011

• After reflecting on the question of what is important for earning the trust of customers and society and what we need to change to meet their expectations, the Chubu Electric Power Group has defined the type of business we wish to be in 2030.
• Currently, Japan is at a major turning point in its history: in addition to an aging population and declining birth rate and problems relating to energy resources, we also face the challenge of global warming. We have become acutely aware of the importance of the energy industry taking a leading role in building a sustainable society, and we understand that more and more is expected of the Chubu Electric Power Group.
• In May of this year, the Chubu Electric Power Group will celebrate the 60th anniversary of its founding. Now that we are on the threshold of a new era in our business, we have issued the “Chubu Electric Power Group Corporate Philosophy,” which sums up our desire to stay rooted in our founding principles while we look to the future and nurture those principles in timeless ways.
• The newly established “Chubu Electric Power Group Corporate Philosophy” expresses the values that people working in the Group have held since our founding and which all employees can share as our values for the future and the unwavering mission of the Chubu Electric Power Group. Three timeless and universal values we hold are “Good Faith and Sincere Endeavor,” “Originality and Will for Challenges” and “Autonomy and Cooperation.”
• Based on this philosophy, we have determined our “Management Vision,” stating that in 2030 we aim to be “a corporate group that satisfies all energy-related needs and keeps growing.” We have also concretely defined “Four Missions” as management policies for achieving this goal.

(Mission 1)

• Our first mission is to “ensure stable supply of low-carbon, high-quality energy at reasonable prices.”
• In any era, we will contribute to the development of communities and society and will work to realize a low-carbon society, by ensuring stable supply of high-quality energy, indispensable for our customers’ lives and industries, at reasonable prices.
• To achieve a low-carbon society, we will specifically pursue low-carbon electricity, by promoting nuclear power generation, expanding introduction of renewable sources, and improving efficiency of thermal power generation.
• We are working to increase nuclear power to 50-60% of the electric power we generate so that we can deliver low-carbon electricity and enhance energy security. Specifically, we are steadily advancing initiatives such as construction of Hamaoka Nuclear Power Station Reactor No. 6 and at the same time focusing our efforts toward the development of approx. 3 to 4 GW of capacity at new sites in the years leading up to 2030.
• Since renewable energy has low carbon emissions and is a valuable domestic energy source for Japan as a nation with a low energy self-sufficiency rate, we are working to cut costs and expand the use of this resource to about 10 to 15% of all electric power we generate.
• These initiatives will reduce our so-called CO₂ emissions intensity (CO₂ emissions per kWh of electric power used) by about 50% vs. FY1990.
• Moreover, we are taking initiatives in facilities and fuel procurement to ensure continued stable delivery of high-quality energy at reasonable prices in the future.

(Mission 2)

• Our second mission is to become the “top corporate group in energy services.”
• We endeavor to be viewed as the top corporate group in energy services by responding to all our customers’ energy needs and offering excellent services.
• Specifically, we use the strengths of electricity, which as a form of energy has low environmental burden and great convenience, to promote the following:

• For residential customers, promote all-electric homes
• For business customers, promote electrification of production processes,etc.
• Initiatives to expand areas in which the use of electricity is possible,through technology research & development

• In this way, we actively promote electrification in various fields, and at the same time we are taking initiatives to promote electric vehicles. Through such efforts we aim to create 20 trillion Wh in new demand and to reach 140 trillion Wh of electric power sales.
• Also, to meet customer expectations, we will recommend switching to electricity, while also offering energy consulting services for residential customers and the optimal mix of gas and LNG sales and on-site energy services for business customers.

(Mission 3)

• Our third mission is to “increase revenues through active overseas business deployment.”
• To ensure sustainable growth in the future, we aim to increase revenues by making the best use of our managerial resources and advancing overseas businesses.
• In our energy infrastructure business, we are further developing the electricity generation business whose business foundation we have been solidifying up to now to make this a key part of revenue expansion and to contribute to the energy infrastructure of our partner countries and the reduction of CO₂ emissions. We are expanding the scale of our overseas business, primarily in North America, Asia and the Middle East, with the aim of acquiring an overseas output quota of 10 GW, or about one-third of our domestic facilities’ output.
• In businesses related to fuel procurement, we are participating in such fields as project interest acquisition, shipping and storage as we aim to enhance procurement stability and flexibility and ensure new revenues.
• To pursue these businesses, we are investing a total of 600 - 800 billion yen and aim to earn 50 billion yen in ordinary income.

(Mission 4)

• Our fourth mission is to “establish a business base that ensures growth.”
• To respond to the trust and meet the expectations of our customers and society, we will make further efforts to “fulfill our social responsibility” and enhance “human resources/organizations,” “comprehensive group ability” and “technology research & development,” which are fundamental to all business activities.

(Conclusion)

• In addition, upon the disclosure of our Management Vision, we have established a new corporate slogan to serve as a “banner for internal and external communication.” The new corporate slogan is, “Ahead of the times. In step with you.”
• The slogan embodies our intent to look ahead and take on the new challenges of the times as things change so greatly, but also to closely follow our customers’ lifestyle needs and continue providing them with energy services that earn their trust and meet their expectations.
• The Chubu Electric Power Group is committed to contributing to the development of society by carrying out its four missions and becoming “a corporate group that satisfies all energy-related needs and keeps growing.”
• That concludes my remarks for today.