Key Point of President's Regular Press Conference

Regular Press Conference for June 2012: Chairman Mita's Message

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

I am Toshio Mita, Chairman of Chubu Electric Power Co., Ltd.
Today I would like to discuss our 88th General Meeting of Shareholders.

General Meeting of Shareholders

I would like to report that the General Meeting of Shareholders was concluded today without incident.
This General Meeting of Shareholders, at which Chubu Electric Power reported on the state of our business in FY2011, lasted 3 hours and 23 minutes, our fifth longest ever, and was attended by 2,013 shareholders, our second best attendance ever.
A total of ten resolutions were presented, three by the Company and seven by shareholders. After deliberation, the three resolutions proposed by the Company were approved by a majority of shareholders.
In addition, we provided honest answers to the shareholders’ questions and comments, which concerned important management issues in a severe business environment. These included questions on the safety of the Hamaoka Nuclear Power Station, shareholder opinions on the best mix of power sources, and our stance on shareholder dividends in future.
The extremely severe business environment will continue, but we remain aware that the trust of our customers and society are the foundation of our business operations. Therefore the Chubu Electric Power Group will rally our efforts to fulfill our mission as an electric utility, namely, to provide a stable supply of energy, and will respond accurately and flexibly to changes in energy markets.
At the same time, we will contribute to the development of the local community through our electricity business and earn the trust and meet the expectations of all those we work with, including customers, the local community, and shareholders and investors.

Introduction of New Director and Statutory Auditor

Now I would like to introduce one new Director and one new Statutory Auditor.
The new Director and Statutory Auditor were each approved at today’s General Meeting of Shareholders. Also, today’s meeting of the Board of Directors, which followed the General Meeting of Shareholders, decided the duties for which the Director will be responsible, among other matters.
First, our new Director is Yuji Kakimi. As of July 1, Mr. Kakimi will be the executive operating officer in charge of supervising the Fuels Department and International Business Department.
I would also like to introduce Tokuichi Okaya, President of Okaya & Co., Ltd., who has been named a new Outside Auditor.
We continue to face an extremely severe business environment, with the shutdown of the Hamaoka Nuclear Power Station only one example. Under our new system, we will actively take on the various management challenges that face us, responding with the total power of the Chubu Electric Group.
That concludes my remarks for today.

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