Targets Set for Acquiring and Retiring Treasury Stock in FY2011-2014
January 28, 2011
Chubu Electric Power Co.,Inc.
In a meeting of its Board of Directors held January 28, 2011, Chubu Electric Power decided to set quantitative targets for acquiring and retiring treasury stock in FY2011-2014, as described below.
Chubu Electric Power's stance on shareholder returns is to steadily meet shareholder expectations even as we continue to invest in developing and operating the Hamaoka Nuclear Power Station and other facilities essential to a stable supply of electric power. To do this, our basic position is to work to maintain shareholder returns at the current level (60 yen per share annually). Moreover, to ensure that shareholder returns are timely and appropriate, we monitor our financial situation and market trends closely as we act to acquire treasury stock.
Following this stance, and to demonstrate it more concretely to our shareholders, we have set a new quantitative target to "Acquire and retire approximately 20 million shares of treasury stock in the four-year period of FY2011-2014."
Chubu Electric Power will continue to meet shareholder expectations by striving for stable and sustainable business operations and working for even higher management efficiency.