Chubu Electric Power Group Report 2021(Integrated Report)

Dialogue between the Chairman of the Board of Directors and an external directortransmission/distribution, and sales into separate companies, I believe it is necessary to create a frame-work that will allow the Board of Directors of Chubu Electric Power Co., Inc., the holding company, to contin-ually think about the overall optimization of the Chubu Electric Power Group from the perspective of the entire supply chain. The independence of each split-off com-pany will increase with the passing of time. This means that ways must be devised to rmly establish mecha-nisms for communications among Group companies and for monitoring after-strategy planning.Katsuno: I agree. I would like to see each operating company independently approach its respective busi-ness area. Alternatively, an extremely important factor will be the extent to which Chubu Electric Power, as the holding company, can monitor overall optimization. Ms. Kurihara pointed out to me that “the energy business can be undertaken only when each and every employee plays his or her respective role, such as equipment operation, maintenance, and sales, and that employees are key stakeholders.” As the business environment evolves signicantly in each business domain going forward, I hope to engage in discussions upon extensively sharing the viewpoints and opinions of employees at the Board of Directors. This will help ensure that management and employees at the front-lines of each business can align their thinking.Kurihara: Each division will think and act independently toward achieving goals if management clearly conveys its vision. I personally think that one of my valuable roles as an external director is to draw on my specialized knowledge and identify changes in the business environ-ment and stakeholder opinions and internally communi-cate opinions that incorporate an outside perspective.Kurihara: From the perspective of nance, my eld of expertise, Chubu Electric Power needs to further rene its investment management and nancial strategies. In the past, Chubu Electric Power’s investments were mainly for its own equipment. However, in view of the drastically evolving business environment as seen by moves toward carbon neutrality and digitization in addition to the deploy-ment of Community Support Infrastructure, Chubu Electric Power will also have such options as investing in new companies or other existing companies, undertaking M&A activities, and forming alliances with other compa-nies. These are difcult investments and involve risks unlike those of the past. I would like to personally contrib-ute to the sophistication of Chubu Electric Power’s invest-ment management. This includes clarifying investment strategies and managing investment efciency and even extends to exit strategies. Decarbonization requires long-term and innovative investment. In view of this, I believe Chubu Electric Power must further deepen discussions at the Board of Directors regarding nancial strategies in areas such as the nancial foundation needed to prepare for various risks and the efcient circulation of funds required for new growth.Katsuno: In new business elds, we have an array of options such as acquiring businesses through M&A, starting businesses by ourselves, or building our own facilities. Each of these options has corresponding risks and investment returns. The Board of Directors will also strive to appropriately manage these risks and investment returns across the Chubu Electric Power Group. The acquisition of Eneco, in the Netherlands, was achieved because we proposed to deploy in Europe the Community Support Infrastructure we are promoting in Japan.Kurihara: M&A aims at achieving results that exceed Chubu Electric Power’s management issues as seen from a specialist eldKurihara MitsueDirector (external)Top CommitmentValue CreationClimate ChangeStrategyBusiness ActivitiesGovernanceHuman ResourcesFinancial / Corporate Data52Chubu Electric Power Group Report 2021

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