Press Release

Press Release

Lawsuit filed against former director for compensation for damages

May 29, 2024
Chubu Electric Power Co.,Inc.

On March 4, 2024, Chubu Electric Power Co., Inc. (President & Director: Kingo Hayashi, "Chubu Electric Power") received a surcharge payment order and Chubu Electric Power Miraiz Co., Inc. (President: Hironori Kamiya, "Miraiz") received a cease and desist order and a surcharge payment order, respectively from the Japan Fair Trade Commission under the Antimonopoly Act in connection with the supply of city gas to large-volume customers in the Chubu area.
(Announced on the same day, "the case")

The corporate auditors of Chubu Electric Power and Miraiz (collectively, "the companies") have commissioned an investigation by an outside law firm that has no vested interest in the current or former directors of the companies involved in the case ("the investigated directors"), and the results of the investigation have been examined by the boards of auditors of the companies and other relevant parties to determine whether or not to pursue responsibility against the investigated directors in connection with the case.
On May 28, 2024, all auditors of Chubu Electric Power decided to file a suit against one of the investigated directors, a former director, for negligence in the performance of his duties in the case.
(Announced on the same day.)

Chubu Electric Power today announced that it has filed a lawsuit against one of its former directors with the Nagoya District Court to seek compensation for damages.

<Summary of the lawsuit for damages>

Date of filing

May 29, 2024

Court of first instance

Nagoya District Court

Plaintiff

Chubu Electric Power Co., Inc. (Representative: Akinori Kataoka, Full-time Senior Corporate Auditor)

Defendant

Shigenobu Shimizu

Damages claim

69,787,881 yen in cash and late payment of damages thereon

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