Nagoya, June 25 (Jiji Press)–Shareholder proposals to dismiss the president and chairman of Chubu Electric Power Co. over alleged underestimation of seismic risks linked to the firm’s Hamaoka nuclear power plant in central Japan were rejected at an annual general meeting Thursday. “This is an incident that shakes the very foundation of our nuclear power business, and we take it very seriously,” Chubu Electric President Kingo Hayashi said at the start of the shareholders meeting in Nagoya in Aichi Prefecture. “We apologize again for betraying trust,” he said. All of the company’s proposals were approved at the meeting. One shareholder accused Chubu Electric’s rigid management policy of facilitating the fraud, while another shareholder urged the company to restore trust in preparation for the restart of the nuclear plant in Omaezaki in Shizuoka Prefecture. The data fraud came to light in January. An independent panel of outside lawyers is now investigating the case in which Chubu Electric is suspected of underestimating the seismic ground motions that the Hamaoka plant could experience. END [Copyright The Jiji Press, Ltd.]
Shareholder Proposals to Oust Chubu Electric Execs Rejected
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