Chubu Electric Power Company, Incorporated | Partial Amendment to the Articles of Incorporation (5) at Chubu Electric Power Company, Incorporated

Status
AGM passed
AGM date
Previous AGM date
Proposal number
11
Resolution details
Company ticker
9502
Resolution ask
Adopt or amend a policy
ESG theme
  • Social
ESG sub-theme
  • Whistleblowing
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. Decommission of the Hamaoka Nuclear Power Station Article X. The Hamaoka Nuclear Power Station, with respect to which falsification of data concerning the design basis ground motion—critical to safety—has been revealed, shall be decommissioned. For this purpose, the Company shall take the following actions: ① Withdraw applications for conformity assessments under the new regulatory standards for Units 3 and 4 of the Hamaoka Nuclear Power Station. ② Refrain from submitting any application for Unit 5 of the Hamaoka Nuclear Power Station. ③ With respect to the management and disposal of radioactive waste generated in connection with decommissioning, ensure thorough disclosure of the information and establish a waste management committee including residents of the four (4) surrounding municipalities and handle radioactive waste issues in consultation therewith.
Supporting statement
In the process of formulation of the design basis ground motion required for the resumption of the operation of the Hamaoka Nuclear Power Station, data falsification was uncovered, and the Nuclear Regulation Authority declared the suspension of its review. Until being pressed by the Nuclear Regulation Authority to address this issue, the Company ignored internal whistleblower reports that had been made over several years. Even after the discovery of the falsification, the Company unnecessarily delayed public disclosure and went so far as to mislead shareholders at last year’s shareholders’ meeting. As a result, the Company’s social and scientific credibility has been severely damaged. Moreover, the Company has lost the materials necessary to verify the course of the data falsification. Such course of events disqualifies the Company for the operation of nuclear power plants. Fundamentally, the seismic safety of the Hamaoka Nuclear Power Station cannot be assured by the design basis ground motion derived from average values. A nuclear power plant, which contains an enormous amount of radioactive material, must be capable of withstanding the most severe conditions. However, retrofitting of the site has already reached its limits, and it would be difficult to meet the requirements even with additional expenditures. To date, more than one trillion yen has already been spent on maintenance and safety measures. Increasing costs therefor have become a heavy burden, and a separate scandal concerning unpaid construction costs resulted in resignation of two executives to take responsibilities for such scandal. The Hamaoka Nuclear Power Station should be decommissioned.

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