Key Point of President's Regular Press Conference

Key Point of President's Regular Press Conference

April 2012 Regular Press Conference: Chairman Mita’s Message

April 27, 2012
Chubu Electric Power Co.,Inc.

  • Today, I will be discussing
  • Chubu Electric Directors and Statutory Auditors
  • Trust in Japan's nuclear energy program and the nation's power utilities has wavered significantly since the Great East Japan Earthquake. As someone involved in the power industry, I take the fact that a nuclear power station could cause a major accident like this one very seriously, and I am absolutely determined that this should never happen again.
  • In May last year, Chubu Electric complied with a request from the government to suspend operation of Hamaoka Nuclear Power Station. We are seeking to increase peace of mind in relation to the plant, in particular among residents of the area in which the facility is located, and we have therefore positioned initiatives to further increase safety as our major current management agenda, and are sparing no effort in implementing these initiatives.
  • With nuclear power stations throughout the country having been shut down, concern regarding the stability of the nation’s power supply is growing significantly. Last summer and this winter, we were able to weather severe supply and demand conditions without any crisis with the help of efforts to save power on the part of our customers.
  • It is the role and responsibility of power utilities to ensure a safe and stable supply of power, and I have been powerfully reminded again that this is our raison d’etre.
  • Considering the recent status of the economy, we can see that things are gradually picking up; however, together with factors such as the exchange rate and the high cost of raw materials, unease regarding the stability of the power supply is a significant cause for concern.
  • Seeking to contribute to the recovery of the Japanese economy and the guarantee of stability in citizen’s lives, we will ensure that we fulfill our most important mission, the stable supply of power, even as we continue to push ahead with initiatives related to Hamaoka Nuclear Power Station.
  • Given these present circumstances, the selection of directors and statutory auditors this fiscal year has emphasized continuity of practical duties and experience as an executive in order to enable us to deal appropriately with the many issues that confront us.
  • There will be no change in the number of executives, remaining at 17, with two external directors. Sixteen of these executive staff members are being reappointed.
  • We are appointing one new director.
  • The retiring member of our executive staff will go on to put his extensive experience to use as the President of one of our Group companies.
  • We will maintain our present system of seven statutory auditors.
  • Three of our auditors have reached the end of their terms in office, but Mr. Hidetaka Tomita, one of our permanent auditors, and Mr. Shigehisa Sao, one of our outside auditors, will continue in their appointments.
  • Our outside auditor Mr. Minoru Matsuo is retiring, and we will be newly appointing Mr. Tokuichi Okaya in his place. As you are aware, Mr. Okaya has held the position of President of Okaya and Co., Ltd. for many years. Mr. Okaya's experience in management is unquestioned, and he is a highly respected member of the business community, having also served as an external director of numerous companies and as a member of the executive staff of numerous industry bodies, for example as a Vice Chairman of the Nagoya Chamber of Commerce and Industry. We believe that he will offer us valuable insights in his role as auditor.
  • The retiring Mr. Minoru Matsuo has served as one of our outside auditors for eight years, since 2004. Mr. Matsuo has offered Chubu Electric a great many valuable opinions and suggestions from a broader perspective than only the narrowly professional, and we wish to take this opportunity to express our sincere gratitude.
  • I believe that this year will be of crucial importance to Chubu Electric, and we will seek to overcome the difficulties that face us with the full power of the Chubu Electric Group.
  • Together with President Mizuno, I will continue to work diligently to firmly guide the management of our company. I hope that we may rely on your continued support.
  • That is all for me.

Go to the Top of the Page