Establishment of CD Energy Direct Co., Ltd.

Chubu Electric Power Co., Inc. (Headquarters: Higashi-ku, Nagoya City; President & Director: Satoru Katsuno; hereinafter "Chubu Electric Power") and Osaka Gas Co., Ltd. (Head Office: Chuo-ku, Osaka City; Representative Director and President: Takehiro Honjo; hereinafter "Osaka Gas") today established a new company, CD Energy Direct Co., Ltd., (Headquarters: Chuo-ku, Tokyo; President & Director: Shinji Ozu; hereinafter "CD Energy Direct") by co-funding to sell electric power, gas, daily customer life, and business-related services in the greater Tokyo area. Preparations will be made in a phased manner to start providing services at an early timing.

CD Energy Direct will combine managerial resources and business know-how Chubu Electric Power and Osaka Gas have fostered through electricity and gas businesses and fully harness those resources and know-how in the greater Tokyo area. At the same time, the new company will maximize value provided to household and corporate clients, thereby contributing to society. Further, harnessing IoT-based services, CD Energy Direct hopes to build a new business model and offer new services that transcend the boundaries of an energy operator by creating new value instrumental in customers' daily life and in businesses.

[Overview of New Company]