スポーツベッティング投資 Regular Press Conference for July 2010

• First, I would like to talk about Chubu Electric's first quarter financial results for FY2010.
• While スポーツベッティング投資 volume of power sold in our electricity business increased, we recorded a decline in revenue due to factors including a drop in retail unit prices which resulted in a decline in service charges.
• We also experienced a decline in ordinary income in our electricity business. Despite factors that functioned to increase revenue, such as an increase in スポーツベッティング投資 volume of power sold and an increase in スポーツベッティング投資 amount of power generated by our nuclear facilities, other factors including a decline in retail unit prices and rising fuel costs saw income decline.
• As a result, both スポーツベッティング投資 consolidated and non-consolidated financial statements showed decreased revenue and decreased profit.

(Consolidated)

• Regarding スポーツベッティング投資 Chubu Electric Group's consolidated financial statement for スポーツベッティング投資 first quarter "FY2010 First Quarter Financial Report."
• Here are some highlights:
  Sales: 526.3 billion yen (down 4.5% YoY)
  Operating income: 59.8 billion yen (down 34.9% YoY)
  Ordinary income: 51.2 billion yen(down 39.5% YoY)
  Net quarterly income: 25.6 billion yen (down 52.0% YoY)
  This is スポーツベッティング投資 first time that we have recorded decreased revenue and decreased profit since we started tracking quarterly financial results in FY2003 first quarter.
• In addition, due to factors including an 8.6 billion yen extraordinary loss as an effect of スポーツベッティング投資 application of accounting standards for asset retirement obligations, we recorded a 27.7 billion yen reduction in quarterly net profit.

(Non-consolidated)

• Next, for Chubu Electric's non-consolidated financial statement.
  Sales:499.0 billion yen (down 4.3% YoY)
  Operating income: 57.9 billion yen (down 35.3% YoY)
  Ordinary income: 48.7 billion yen (down 41.3% YoY)
  Net quarterly income: 23.9 billion yen (down 54.5% YoY)
  As was スポーツベッティング投資 case in our consolidated results, this is スポーツベッティング投資 first time that we have recorded decreased revenue and decreased profit since we started tracking quarterly financial results in FY2003 first quarter.

(Cash flow outlook for FY2010)

• Next, regarding スポーツベッティング投資 cash flow outlook for スポーツベッティング投資 next period.
• Despite スポーツベッティング投資 fact that our rate of use of nuclear power will decline with スポーツベッティング投資 extension of スポーツベッティング投資 period of shutdown of Hamaoka Nuclear Power Station Reactor No. 5, we project an increase in スポーツベッティング投資 volume of power sold and an increase in hydroelectric generation, in addition to a reduction in various expenses, and due to these and other factors we have made no changes to our previously announced performance projections.
• I will discuss スポーツベッティング投資 cash flow outlook for FY2010 in comparison with results for FY2009.
• We anticipate that スポーツベッティング投資 volume of electric power sold will be 2.7% higher than last quarter, at 126.1 TWh.
• We forecast that consolidated net sales will rise to about 2,300 billion yen with スポーツベッティング投資 growth of service charges due to increase of electric power sold in スポーツベッティング投資 electricity business and other factors.
• On スポーツベッティング投資 other hand, although we do expect some factors such as increase of electric power sold and increased nuclear power generation to improve スポーツベッティング投資 bottom line, we forecast that スポーツベッティング投資 rise in fuel prices will lead consolidated ordinary income to decline to a forecast 105 billion yen.
• As for non-consolidated cash flow, we forecast that sales will be about 2,150 billion yen and ordinary income about 90 billion yen.
• We therefore expect that both スポーツベッティング投資 consolidated and non-consolidated financial results will be characterized by increased revenue and decreased profit, compared to スポーツベッティング投資 previous period.
• Chubu Electric will continue to accord スポーツベッティング投資 greatest consideration to a stable power supply as well as safety, even as we pursue maximum cost savings and take measures for further streamlining and greater efficiency in all areas of management.
• We also intend to make full use of our management resources to boost スポーツベッティング投資 corporate value of スポーツベッティング投資 Chubu Electric Group as a whole.

Reference

• 1st Quarter Financial Report [PDF:112KB]

• Next, I will discuss スポーツベッティング投資 release of スポーツベッティング投資 "2010 Chubu Electric Power Group CSR Report.
• Chubu Electric today released its "2010 Chubu Electric Power Group CSR report," detailing initiatives undertaken to fulfill our corporate social responsibility (CSR).
• Chubu Electric began publishing Annual Environmental Reports focusing on environmental initiatives in FY1994. In FY2006, we changed スポーツベッティング投資 name of スポーツベッティング投資 report to スポーツベッティング投資 "CSR Report," introducing details of スポーツベッティング投資 company's social and economic activities in addition to its environmental initiatives. スポーツベッティング投資 CSR Report deals with a wide range of company initiatives undertaken with スポーツベッティング投資 aim of realizing a sustainable society, and also considers スポーツベッティング投資 outcomes of these initiatives.
• In FY2008, スポーツベッティング投資 report was expanded to cover スポーツベッティング投資 CSR initiatives of スポーツベッティング投資 entire Chubu Electric Group.

(Features of スポーツベッティング投資 report)

• I would now like to give an overview of our CSR Report.
• スポーツベッティング投資 10th conference of スポーツベッティング投資 Conference of スポーツベッティング投資 Parties to スポーツベッティング投資 Convention on Biological Diversity, COP10, will be held in Aichi Prefecture in October of this year, and スポーツベッティング投資 special feature at スポーツベッティング投資 beginning of スポーツベッティング投資 report this year deals with activities in スポーツベッティング投資 area of"Protecting Biological Diversity,"one of Chubu Electric's important environmental initiatives.
• In FY2009, we formulated an Action Plan that provides midterm environmental targets for FY2020. In addition to discussing our level of implementation of スポーツベッティング投資 plan in FY2009, スポーツベッティング投資 CSR Report will discuss future initiatives for スポーツベッティング投資 three pillars of our efforts to prevent global warming-promotion of nuclear power, renewable energy sources, and energy conservation.

(CO₂emissions)

• Our target for スポーツベッティング投資 reduction of CO₂ emissions is to achieve a 20% reduction in our average level of emissions per 1 kWh against figures for FY1990 between FY2008 and FY2012, スポーツベッティング投資 first commitment period for スポーツベッティング投資 Kyoto Protocol.
• While our rate of emissions per 1 kWh (emission intensity) in FY2009 was affected by スポーツベッティング投資 increase in hydrogen concentration in スポーツベッティング投資 off-gas system of Hamaoka Nuclear Power Station and reactor shutdowns due to スポーツベッティング投資 Suruga Bay earthquake, our use of Kyoto mechanism credits and other factors resulted in a reduction of 0.007 kg against FY2008 figures to 0.417 kg, representing a reduction of 10.2% against our base year, FY1990.
• In addition, our CO₂ emissions in FY2009 were 51.17 million tons, a reduction of 3.89 million tons against FY2008 figures.
• In スポーツベッティング投資 future, we will continue to strive to reduce our CO₂ emission intensity. On スポーツベッティング投資 supply front, we will actively increase our rate of use of nuclear power plants, maintaining safety as our highest priority, develop high-efficiency LNG thermal generators, conduct development programs for wind power generation, mega-solar electricity generation, and スポーツベッティング投資 use of other renewable energies, and make use of スポーツベッティング投資 Kyoto mechanisms.

• This concludes my remarks for today.

Reference

• Press Release "スポーツベッティング投資 release of スポーツベッティング投資 "2010 Chubu Electric Power Group CSR Report""