Chubu Electric Power Group Report 2021(Integrated Report)

[Investment][Capital Policy]Necessary investment in electric power safety and stable supplyStrategic investment in growth eldsEfficiency indicator (ROE)Shareholder return policy[5-year total from FY 2019 to FY 2023]400 billion yen or moreManagement vision (formulated in March 2018)Basic Conceptual Approach to Investment and Capital PolicyWhat the Chubu Electric Power Group Aims to RealizeIn its management vision targeting the late 2020s, the Chubu Electric Power Group aims to increase consolidated ordinary income to 250 billion yen, and by transforming its business model, achieve a business portfolio comprising the “domestic energy business” and “new growth elds and overseas businesses” at the ratio of 1 to 1. In achieving this management vision, we will work to “fullling our unwavering mission” of delivering environmentally friendly, good-quality energy safely and stably at a reasonable price and “creating new value” by also providing new services closely matched to customers’ needs. Our ultimate goal is to become “a total energy service corporate group that is one step ahead,” providing services that exceed the expectations of our customers rst and foremost.Net prot of JERA (50% afliateaccounted for under the equity method)Second half of 2020s: Approximately 200.0 billion yen50% of the net prot above will be reected in theoperating results of the Group based on the percentageof our equityJERANew growth eldsOverseas businesses, etc.Domesticenergy business1:1• New growth fields• Overseas businesses• Renewable energy, etc.Growth of JERA• Synergy based on domestic power generation• Overseas businessesGrowth throughstrategic investmentSecond half of the 2020s250 billion yen or moreConsolidatedordinary income[Formulated in March 2019]FY2021Management GoalsConsolidatedordinary income170 billion yen or moreLate 2020sManagement VisionPower transmission/distributionPower generationand salesOverseasbusinessesGroupcompaniesNew growth elds• We will quickly and steadily implement measures to further increase safety at our facilities, including the Hamaoka Nuclear Power Station.• We will also keep steadily investing in equipment needed for stable supply while continuing to streamline.• When making investments, we will thoroughly ensure efciency.• In order to make sustainable growth a certainty into the future, we will conduct appropriate risk management and, on that basis, engage in strategic investment for business growth and development.• Overseas business: Approx. 200 billion yen • Renewable energy: Approx. 100 billion yen• New growth, etc.: Approx. 100 billion yenIn making investments, we will consider nancial stability (maintain the current level of our capital adequacy ratio).Strategic investment amount• We envision a 7% or higher ROE level when we achieve the FY2021 business goal.• For the medium- to long-term ROE level, we will aim for a level that exceeds the cost of capital while closely monitoring the necessary shareholders’ equity ratio and other such factors.• Chubu Electric Power will continue to invest in plants and equipment for a safe and stable supply of electricity as well as in growth sectors to maintain sustainable growth and increase our corporate value.• Providing strong shareholder returns is an important mission for our Group. We will continue to pursue stable dividends, as well as consider our prot growth. Our target consolidated payout ratio is over 30%.27Chubu Electric Power Group Report 2021Top CommitmentValue CreationStrategyBusiness ActivitiesGovernanceHuman ResourcesFinancial / Corporate DataClimate Change

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