Other Press Conferences
Other Press Conferences
President’s press conference about actions taken after receiving the cease and desist order from the Japan Fair Trade Commission
April 07, 2023
Chubu Electric Power Co.,Inc.
Chubu Electric Power Miraiz
- Today, I would like to reiterate the actions taken by Chubu Electric Power and Chubu Electric Power Miraiz in response to the orders from the Japan Fair Trade Commission.
- As it was disclosed on March 30, Chubu Electric Power received the order for payment of surcharge due to violation of the Antimonopoly Act and Chubu Electric Power Miraiz received the cease and desist order and order for payment of surcharge from the Japan Fair Trade Commission regarding the supply of special high-voltage electric power and high-voltage electric power in the Chubu Area.
- We are currently preparing to file a revocation suit for each order since we have not agreed with Kansai Electric Power to limit sales activities and there are differences in opinions regarding fact finding and legal interpretations with the Japan Fair Trade Commission.
- We apologize for any concerns this filing of lawsuit may cause to our customers, shareholders, local residents, business partners and other relevant parties.
- The Chubu Electric Power Group received advice from external lawyers in order to further enhance our initiatives to comply with the Antimonopoly Act. I would like to introduce the “compliance measures” that we have put together.
- The Chubu Electric Power Group will implement new initiatives to deepen compliance awareness such as having discussions with lawyers, checking level of understanding after training and drawing up “behavior check points”, in addition to lectures and trainings by external lawyers that had taken place.
- In order for each and every employee of our group to enhance the mechanism to comply with the Antimonopoly Act, current rules regarding contact with competitors and how they are applied will be periodically confirmed and reviewed, and surveys and monitoring will be performed regarding compliance with rules.
- In addition, action plans will be developed at each workplace to foster better organizational culture which is the foundation for enforcing awareness and behavior of compliance, and autonomous initiatives such as discussions will be promoted.
- On top of that, the status of our initiatives will be inspected by external experts to assess and further improve its effectiveness.
- Additionally, five representative directors of Chubu Electric Power and Chubu Electric Power Miraiz, including myself, will return 10% of monthly compensation for this month and next month, in light of the concerns we are causing the many people who support our business.
- We would like to thoroughly explain Chubu Electric Power and Chubu Electric Power Miraiz’s thoughts through the lawsuit and seek a fair decision by the judiciary.
- At the same time, we will continue to make ceaseless efforts to enforce compliance so as to respond to the trust and expectations of our customers, shareholders, local residents and other relevant parties and realize sustainable growth.
- This ends my presentation.