The Kansai Electric Power Company, Incorporated | Dismissal of a Director (Sadayuki Sakakibara) at The Kansai Electric Power Company, Incorporated

Status
AGM passed
AGM date
Proposal number
9
Resolution details
Company ticker
9503
Resolution ask
Amend board structure
ESG theme
  • Governance
ESG sub-theme
  • Other
Filer type
Shareholder
Company sector
Utilities
Company HQ country
Japan
Resolved clause
The following Director shall be dismissed. Sadayuki Sakakibara, Director
Supporting statement
Mr. Sakakibara, Chairman of the Board, has strongly advocated for the restart of nuclear power plants even after the Fukushima Daiichi Nuclear Power Station accident and, since assuming the position of Chairman, has consistently led efforts to promote nuclear power, stating that companies such as ours need to take the lead in constructing new nuclear power plants and replacing aging facilities. In July 2025, the Company commenced studies toward the construction of next-generation advanced reactors at the Mihama Nuclear Power Station site. Reports indicate that the cost of constructing a new nuclear plant could reach approximately 3 trillion yen. While the Company had previously taken a cautious stance, it decided to proceed with the construction after securing a framework under which, even if construction and maintenance costs increase, up to 90% of these costs could be effectively borne through government financing and electricity charges passed on to consumers. This decision has also been supported by policy revisions aimed at sustaining the nuclear industry, including companies such as Mitsubishi Heavy Industries, a designer of next-generation reactors. Fifteen years have passed since the Fukushima Nuclear Power Station accident. However, its lessons have not yet been fully examined or comprehensively reviewed, and the impacts of the accident continue. Despite this, the Company’s management policy of increasing reliance on nuclear power reflects its stance of prioritizing economic considerations over safety and the understanding of local residents. To shift away from the current approach of promoting new nuclear plant construction and expansion, we propose the dismissal of Chairman Sakakibara.

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