Press Release
Withdrawal of action for damages against former director
June 06, 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) 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")
On May 29, 2024, Chubu Electric Power filed a lawsuit against one of its former directors with the Nagoya District Court, claiming damages for negligence in the performance of his duties in relation to the case.
(Announced on the same day, "the lawsuit")
As the full amount of damages claimed in the lawsuit has been paid by today, all auditors of Chubu Electric Power today decided to withdraw the lawsuit. We will file the withdrawal with the Nagoya District Court as soon as we are well prepared.
The companies will make further efforts to ensure thorough compliance so that no more cases of violation of the Antimonopoly Act will occur and no such suspicions will arise again in the future.