The Kansai Electric Power Company, Incorporated | Partial Amendment to the Articles of Incorporation of the Company at The Kansai Electric Power Company, Incorporated

Status
AGM passed
AGM date
Proposal number
11
Resolution details
Company ticker
9503
Resolution ask
Report on or disclose
ESG theme
  • Governance
ESG sub-theme
  • Other
Filer type
Shareholder
Company sector
Utilities
Company HQ country
Japan
Resolved clause
The article described below shall be added to the Articles of Incorporation of the Company. Chapter 6 Executive Officers (Individual disclosure of remuneration of Executive Officers) Article 36-2 The Company shall disclose the remuneration of Executive Officers individually. Article 36-3 Each Executive Officer shall report on their business activities at the General Shareholders’ Meetings.
Supporting statement
At last year’s General Shareholders’ Meeting, the total remuneration disclosed for five Directors, ten Outside Directors, and 17 Executive Officers amounted to 975 million yen. While the Company has implemented previously proposed measures, including a reduction in the number of Directors and the individual disclosure of director remuneration, it has not implemented individual disclosure of remuneration for Executive Officers appointed following the transition to a company with Nominating Committee, etc. The Company is returning to nuclear power without fully examining the damage caused by the severe Fukushima Nuclear Power Station accident 15 years ago. The construction cost of a new nuclear power plant has been reported to be approximately 3 trillion yen, a scale beyond what a single company can undertake alone. The same applies to the operation of nuclear power plants, which cannot be sustained without extensive government support and subsidies. Moreover, such conditions contain factors that may lead to backroom dealings, bribery, and cartels. The Company should place greater emphasis on environmentally sustainable renewable energy. Executive Officers are responsible for the execution of business operations. The Company should disclose to shareholders whether it is placing excessive emphasis on nuclear power and disproportionately favoring the Executive Officers responsible for it, and whether Executive Officers promoting renewable energy are placed at a disadvantage.

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