Filing of revocation action against a cease-and-desist order from the Japan Fair Trade Commission

On March 30, 2023, Chubu Electric Power Co., Inc. (Representative Director and President: Kingo Hayashi; “Chubu Electric Power”) received a surcharge payment order in accordance with the Antimonopoly Act and Chubu Electric Power Miraiz Co., Inc. (Representative Director: Shinya Otani; “Chubu Electric Power Miraiz”) received a cease-and-desist order and surcharge payment order in accordance with the aforementioned Act, respectively from the Japan Fair Trade Commission.

On the same day, Chubu Electric Power and Chubu Electric Power Miraiz decided to file a revocation action due to differences in fact finding and legal interpretation with the Japan fair Trade Commission.

Today, Chubu Electric Power and Chubu Electric Power Miraiz filed a revocation action to the Tokyo District Court.
Views of the two companies will be argued and proved in the lawsuit, and we will seek a fair judgment from the judiciary.

We apologize for any concerns this may cause to our customers, shareholders, local communities, business partners and other related parties.

【Reference】Overview of the cease-and-desist order and surcharge payment order

1.Overview of the cease-and-desist order

(1)Subject

Chubu Electric Power Miraiz

(2)Overview of the order

Chubu Electric Power (currently Chubu Electric Power Miraiz) and Kansai Electric Power Co., Inc. substantially limited competition in electricity trade for retail supply to large customers in the Chubu area and Kansai area, contrary to public interest, by jointly and mutually agreeing to limit sales activities for acquiring large customers for whom the other party provides retail supply in the supply area of such party.

This act is an unreasonable restraint of trade stipulated in Article 2 Paragraph 6 of the Antimonopoly Act and a violation of the provisions of Article 3 of said Act. Thus, it is ordered to implement necessary measures so that similar acts are not taken place in the future.

2.Overview of the surcharge payment order