Chubu Electric Power Company, Incorporated | Partial Amendment to the Articles of Incorporation (4) at Chubu Electric Power Company, Incorporated

Status
AGM passed
AGM date
Previous AGM date
Proposal number
10
Resolution details
Company ticker
9502
Lead filer
Undisclosed filer
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Other
Filer type
Shareholder
Company sector
Utilities
Company HQ country
Japan
Resolved clause
To add the following new chapter to the Articles of Incorporation: Chapter X. Prohibition of Secondments to Nuclear Regulatory Authorities Article X. The Company and its Group companies shall be prohibited from seconding their employees to nuclear regulatory authorities. In addition, if any former employee of the Company or its Group companies becomes employed by a nuclear regulatory authority, the Company and its Group companies shall be prohibited from re-hiring such former employee.
Supporting statement
Grounded on the lessons learned from the accident at the Tokyo Electric Power Company’s Fukushima Daiichi Nuclear Power Station, Japan’s nuclear policy has been structured so as to strictly separate nuclear regulation from the promotion of nuclear power. Prior to the accident, regulatory functions were carried out by the Nuclear and Industrial Safety Agency, which was placed within the Ministry of Economy, Trade and Industry, the authority responsible for promoting nuclear power. Following the accident, however, the Nuclear Regulation Commission was established as an external bureau of the Ministry of the Environment and constituted as a highly independent commission under Article 3 of the National Government Organization Act. The Nuclear Regulation Authority was established to process the administrative affairs of the Commission. With respect to personnel of the Nuclear Regulation Authority, the supplementary provisions to the Act for Establishment of the Nuclear Regulation Commission provide that transfers to administrative organizations responsible for the promotion of the use of nuclear energy shall not be permitted and reemployment that may invite public suspicion or distrust regarding the fairness of the execution of their duties shall be restricted. Nevertheless, at present, a substantial number of secondees from electric power companies and nuclear equipment manufacturers, which are regulated by the Nuclear Regulation Authority, belong to the Nuclear Regulation Authority, thereby rendering the separation between regulation and promotion nominal only. In addition, a secondee from Techno Chubu Co., Ltd., 100% subsidiary of the Company, has been assigned to the Hamaoka Nuclear Regulation Office. Accordingly, secondments and similar arrangements shall be prohibited, as they are contrary to the legislative intent.

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.