Press Release
The Minister of Economy, Trade and Industry Authorizes Company Spin-off.
March 13, 2020
Chubu Electric Power Co.,Inc.
Chubu Electric Power Co., Inc. is pleased to announce that the Minister of Economy, Trade and Industry has today authorized (*) the spinning off of the general transmission and distribution business and retail electricity business, which includes specified retail power supply.
(*) The general transmission and distribution business is based on the provisions of Article 10 Paragraph 2 of the Electricity Business Act. The specified retail supply business is based on the provisions of Article 10 Paragraph 2 of the pre-revision Electricity Business Act, still maintaining validity according to the provisions of Article 16 Paragraph 3 of the Appendix of the Act for Partial Revision of the Electricity Business Act and Other Related Acts.
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1 Past developments
|
April 01, 2019 |
Preparation Companies (successors) established |
|
April 26, 2019 |
Absorption-type Split Agreement signed |
|
June 26, 2019 |
Absorption-type Split Agreement approved by resolution of the Annual General Meeting of Shareholders (General transmission and distribution business) |
|
January 20, 2020 |
Application for split authorization lodged with the Ministry of Economy, Trade and Industry |
|
March 13, 2020 |
Split authorized by the Minister of Economy, Trade and Industry |
|
April 01, 2020(scheduled) |
Absorption-type split to take effect |
2 Overview of the companies involved in the split (as of April 01, 2020 (tentative))
|
Name |
Chubu Electric Power Co., Inc. |
Chubu Electric Power Grid Co., Inc. (successor) |
Chubu Electric Power Miraiz Co., Inc. (successor) |
|---|---|---|---|
|
Location |
1 Higashi-shincho, Higashi-ku, Nagoya-shi, Aichi Prefecture |
1 Higashi-shincho, Higashi-ku, Nagoya-shi, Aichi Prefecture |
1 Higashi-shincho, Higashi-ku, Nagoya-shi, Aichi Prefecture |
|
Title and name of the representative |
Kingo Hayashi, President and Representative Director |
Yaoji Ichikawa, President and Representative Director |
Shinya Otani, President and Representative Director |
|
Business |
Management administration of Group companies, nuclear and renewable energy business, etc. |
General transmission and distribution business, telecommunications business, etc. |
Electricity sales business, gas business, etc. |
|
Capital |
430,777 million yen |
40,000 million yen |
4,000 million yen |