Key Point of President's Regular Press Conference

Key Point of President's Regular Press Conference

April 2013 Regular Press Conference: Chairman Mita’s Message

April 26, 2013
Chubu Electric Power Co.,Inc.

  • Today I would like to speak about
  • Chubu Electric Power’s executive officers and other matters


Chubu Electric Power’s executive officers and other matters

(Appointment of Directors)

  • The first thing I would like to point out about our Company Directors is that Chubu Electric Power has been endeavoring to innovate its management organization. Our purpose is to enrich the process of deliberation among our Board of Directors, speed up management decision-making and strengthen the supervisory function over Directors. This is to ensure that fairness and transparency are at the heart of our management.
  • However, the business environment is very challenging for Chubu Electric Power right now. Operations at all reactors of the Hamaoka Nuclear Power Station have been suspended, and the weakening yen is expected to make fuel very expensive. As a result, the Company has endured its third consecutive fiscal year in the red.
  • At present, Chubu Electric Power is focusing on the “Three Key Initiatives,” namely “working to further enhance safety at the Hamaoka Nuclear Power Station,” “working for a stable supply of electric power,” and “working for greater management efficiency.”
  • Concerning the objective of management efficiency, President Mizuno previously noted that today we established the “Office for Emergency Measures for Management Efficiency.” Through this office, the entire Company will work to drive down costs, with every aspect of our operations subject to cost reductions.
  • Also, the national government is currently doing a detailed study of electric power system reform. As this process continues, we recognize the need to continue working for supply stability, providing a variety of services, and endeavoring to achieve a better electric power system for our customers.
  • In light of the circumstances, Chubu Electric Power is reducing its number of Directors and revising its executive system. The changes we are enacting will better clarify the management roles and responsibilities of Directors, enhance the process of deliberation among the Board of Directors, speed up decision-making and allow us to respond with agility to future changes in the electricity business environment.
  • At this time, we are reducing the number of Company Directors from 17 to 12.We will have two new Inside Directors and one Outside Director.
  • Shun Matsushita is stepping down as Outside Director, and Yoshifumi Iwata, Chairman and Representative Director of IBIDEN CO., LTD., will be the new Outside Director.
  • Mr. Iwata is well-known for putting his wisdom and abilities as a manager to use in many ways, including during his service as Deputy Chairman of the Chubu Economic Federation. His views will now serve us well as our Outside Director.
  • Mr. Matsushita is stepping down after six years of service that began in 2007. His views have proven valuable as we have worked with a number of management issues. I would like to take this opportunity to thank him for his service.

(Executive system personnel)

  • Next, I would like to talk about our executive system.
  • Even as we reduce the number of Company Directors, our executive system will have to continue to be well prepared to quickly and steadily solve a large number of management issues.
  • Our general managers and heads of departments have extensive experience and proven records, and we believe they are capable of dealing appropriately and promptly with difficult management issues.
  • In addition, we are actively appointing young talent thoroughly familiar with their duties to serve as new executive officers or general managers and heads of departments.
  • Moreover, we will partially reform our organization as of July 1.
  • We are setting up a new Nuclear Fuel Cycle Department within our Nuclear Power Division to deal proactively with nuclear fuel cycle operations going forward. Nuclear fuel cycle operations are currently divided between the Nuclear Power Department and Fuels Department, but the new arrangement will bring them together in one place.


  • This is a time of great change in the electricity business. Chubu Electric Power continues to face our greatest challenge since our founding. Our mission, however, remains unchanged: to provide a safe and stable supply of energy to our customers at reasonable prices.
  • President Mizuno and I remain determined to provide firm management and use the collective strength of our Group to navigate through these challenging times. Thank you for your continued support.
  • This concludes my remarks for today.


Go to the Top of the Page