Key Point of President's Regular Press Conference

Regular Press Conference for April 2011: Mita Chairman’s Message

April 28, 2011
Chubu Electric Power Co.,Inc.

Let me begin by expressing my sincerest hope for the repose of those who lost their lives as a result of the Great East Japan Earthquake.
I would also like to offer my deepest condolences to all those impacted by the disaster.
Individuals who are still in evacuation from the serious accident at the Fukushima Daiichi Nuclear Power Station are undergoing indescribable hardships.
Chubu Electric Power plans to provide all the support we can to enable conditions to return to normal as soon as possible.
Today, I will be discussing:

Chubu Electric Directors and Statutory Auditors

The recent accident has caused people to lose faith in nuclear power’s safety and its ability to provide a stable supply of electric power, and the business environment facing the electricity business is more severe than we have ever experienced.
Chubu Electric Power and the entire electric power industry need to learn as many lessons as we can from the stark reality presented by this earthquake and to apply those lessons to future preparations.
In resource-poor Japan, securing enough energy is an extremely challenging problem. When we stop to reconsider the nature of the role and responsibility that Chubu Electric Power should be trying to fulfill, it becomes clear that it is to raise the safety of nuclear power to a higher level than before, as well as to provide a safe and stable supply of electricity. In so doing, we will be making a sincere effort to contribute to the recovery and development of the region and all Japan, and continuing to earn people’s trust.
Our current lineup of directors and statutory auditors consists of individuals well suited for promptly and reliably solving the many issues we face in this difficult business environment and helping the overall Group to continue growing while earning society’s trust.
Specifically, we will have 17 directors (two more than before) to make up a more powerful management team ready to win back people’s trust in nuclear power and strengthen our business-strategizing function at a time when we face an enormous change in circumstances.
In all cases, we have chosen people with not only character and discernment but also sufficient talent and experience, and we believe that these individuals will overcome the difficulties as they fulfill their heavy responsibilities.
We have four candidates to serve as new directors and one to serve as statutory auditor.
Our two outside directors, and two of our four outside auditors (Toshiko Aburada and Kenji Matsuo), have reached the end of their terms, but because each of these persons has a technical background, which they have drawn upon to give us their valuable opinions on management wherever needed, we will have them continue in service to us.
Additionally, executives stepping down include two directors (one Vice President and one Senior Managing Director) as well as one statutory auditor. These persons will continue to use their past experience and other valuable assets to stay active holding important posts in a regional economic organization or as top management in Group companies or advisors at Chubu Electric Power.
As for me, in my second year as Chairman, I am committed to working diligently with President Mizuno to help Chubu Electric Power overcome these unprecedented challenges and build a corporate Group that is ready to continue growing into the future. Thank you for your continued support.
That concludes my remarks for today.

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