Chubu Electric Power Company,incorporated · TSE:9502

Chubu Electric Power Company,incorporated — H1 FY2013 Earnings Presentation

61 slides from Chubu Electric Power Company,incorporated's earnings presentation, Nov 6, 2013

1. Slide 1: Investors Meeting 1st Half FY 2013

   I Investors t M Meeting ti 1st Half H lf FY 2013 November 2013 November, Note: The Company's p y fiscal year y (FY)( ) is from April p 1 to March 31of the following g yyear. FY2013 represents the fiscal year begun in April 1, 2013, and ending in March 31, 2014. 2nd Quarter (2Q) represents six months

2. Slide 2: Table of Contents

   Table of Contents I Outline of Financial Results for Six-Months Ended September 30, 2013 Summary of Financial Results <1> 䞉䞉䞉䞉䞉䞉䞉䞉䞉䞉 1 Summary of Financial Results <2> 䞉䞉䞉䞉䞉䞉䞉䞉䞉䞉 2 Electricity Sales Volume 䞉䞉䞉䞉䞉䞉䞉䞉䞉䞉 3 Generated and Received Power 䞉䞉䞉䞉䞉䞉䞉䞉䞉䞉 4 N Non-consolidated lid t d Statements S

3. Slide 3: Outline of Financial Results for Six-Months Ended September 30, 2013

   I Outline of Financial Results for p Six-Months Ended September 30,, 2013 © 2013 Chubu Electric Power Co., Inc. All rights reserved.

4. Slide 4: Summary of Financial Results <1>

   Summary of Financial Results <1> 㻥1 [Consolidated] - Operating revenues increased for four consecutive years. - Ordinary loss and net loss are recorded for three consecutive years. [Consolidated] (Billion yen,%) 2013/2Q 2012/2Q Change (A) (B) (A-B) (A-B)/B Operating revenues 1,367.4 1,336.1 31.3 2.3

5. Slide 5: Summary of Financial Results <2>

   Summary of Financial Results <2> 㻥 2 < Main factors for year-on-year change in consolidated ordinary loss > - An increase in fuel price - 23.3 billion yen - A decrease of hydroelectric power output - 5.2 billion yen - Others 1.7 billion yen ƂFactors for change in consolidated ordinary lossƃ (billion

6. Slide 6: Electricity Sales Volume

   Electricity Sales Volume 3 <Demand from customers under regulation> -Electric lighting Dropped 1.1% to 16.2TWh, due to customer's power saving effect. -Electric power Dropped 3.5% to 3.0 TWh, due to a decrease in number of contracts. <Demand <D d ffrom customers t under d lib liberalization> li ti >

7. Slide 7: Generated and Received Power

   Generated and Received Power 4 -Hydro Decreased by 0.2 TWh on year on year basis due to lower water flow (flow rate for 2013/2Q:88.6%, 2012/2Q:93.7%) -Thermal In addition to the above, above because of a decrease in interchanged power and purchased power, power thermal power output decreased by 3.7

8. Slide 8: Non-consolidated Statements of Income <1>

   Non-consolidated Statements of Income <1> 5 (Billion yen, %) 2013/2Q 2012/2Q Change (A) (B) (A-B) (A-B)/B [Major factors for Change] Electricity sales revenues 1 167 6 1,167.6 1 122 1 1,122.1 45 5 45.5 41 4.1 - An increase in Fuel cost adjustment charge 䠖+41.7 Sold power to other electric utilities,

9. Slide 9: Non-consolidated Statements of Income <2>

   Non-consolidated Statements of Income <2> 6 ((Billion y yen,, %)) 2013/2Q 2012/2Q Change [Major factors for Change] (A) (B) (A-B) (A-B)/B Salaries and - Retirement benefit 䠖 +4.1 94.8 91.6 3.1 3.5 employee l benefits b fit (A (Actuarial i l differences diff 䠖 +5.1) 5 1) Fuel 620.9 610.2 10.6 1.7 - T

10. Slide 10: Non-consolidated Statements of Income <3>

    Non-consolidated Statements of Income <3> 7 (Billion yen, %) [Major factors for Change] 2013/2Q 2012/2Q Change (A) (B) (A-B) (A-B)/B Operating income (loss) (19.2) 11.4 (30.7) Non-operating revenues 10.9 7.5 3.3 44.6 Non-operating expenses 23.7 22.2 1.4 6.6 Ordinary revenues 1,293.6 1,273.2 20.3 1.6

11. Slide 11: Consolidated Statements of Income

    Consolidated Statements of Income 8 (Billion yen, %) 2013/2Q 2012/2Q Change (A) (B) (A-B) (A-B)/B Electrricity Operating revenues 1,246.9 1,236.3 10.5 0.9 businness O Operating i expenses 1 260 9 1,260.9 1 221 6 1,221.6 39 2 39.2 32 3.2 Operating income (loss) (13.9) 14.6 (28.6) Operating revenues 1

12. Slide 12: Segment Information

    Segment Information 9 (Billion yen) 2013/2Q 2012/2Q Change (A) (B) (A-B) Sales from external customers 1,246.9 1,236.3 10.5 Electricity Operating income (loss) (17.6) 10.9 (28.5) Sales from external customers 39.1 30.1 9.0 Chubu Incidental business 26.7 18.3 8.4 䚷Subsidiaries 12.3 11.7 0.5 Energy Op

13. Slide 13: Consolidated Financial Standing

    Consolidated Financial Standing 10 ((Billion y yen)) 2013.9 2013.3 Change (A) (B) (A-B) Assets 5,807.0 5,882.7 (75.7) Liabilities 4,331.3 4,391.6 (60.3) Net assets 1,475.6 1,491.1 (15.4) (Billion yen, %) 24.8 24.7 0.1 Shareholders' equity ratio <22.6> <22.8> ( ) <(0.2)> 3,277.3 3,260.5 16.8 Outstand

14. Slide 14: Consolidated Statements of Cash Flows

    Consolidated Statements of Cash Flows 11 ( illi yen)) (Billion 2013/2Q 2012/2Q Change (A) (B) (A-B) Cash flows from operating activities (a) 52.5 70.0 (17.5) Cash flows from investment activities (b) (127.7) (174.3) 46.6 Cash flows from financing activities (5.0) 226.3 (231.3) Free cash flows (a+b)

15. Slide 15: Summary of Forecast for FY 2013

    Summary of Forecast for FY 2013 12 1213 - Consolidated (billi yen)) (billion [Principal factors affecting ordinary loss] FY 2013 forecast FY 2013 forecast Change An increase in electricity sales volume (Current) (Sep.17) + 4.0 (with subtraction of fuel cost) (A) (B) (A)-(B) Operating p g revenues 2,

16. Slide 16: Non-consolidated Forecast for FY 2013 (compared to FY 2012)

    Non-consolidated Forecast for FY 2013 1213 (compared to FY 2012) (Billion yen) [Principal factors affecting ordinary loss] A decrease in electricity sales volume FY 2013 FY 2012 - 6.0 Change (with subtraction of fuel cost) Forecast Result A iincrease iin fuel An f l price i (A) (B) (A)-(B) (After ta

17. Slide 17: The Policy on Shareholder Return

    The Policy on Shareholder Return 14 After comprehensively considering the difficult business situation, the Company has decided it will ill pay no interim i t i dividend di id d for f the th fiscal fi l year ending di March M h 2014. 2014 The management sincerely appreciates your understanding in th

18. Slide 18: Management Situation

    Management g Situation © 2013 Chubu Electric Power Co., Inc. All rights reserved.

19. Slide 19: Safety Measures at Hamaoka Nuclear Power Station<1>

    Safety 䠘ᡭᣢ䛱䠚 Measures at Hamaoka ὾ᒸཎᏊຊⓎ㟁ᡤ㻟㻘㻠 ὾ᒸཎᏊຊⓎ㟁ᡤ Nuclear Power Station<1>: 㻟㻘㻠ྕᶵ䛾㏣ຍᑐ⟇䛾ᴫせ ྕᶵ䛾㏣ຍᑐ⟇䛾ᴫせ 15 Implementation of Additional Safety Measures for Units 3 and 4 in accordance with New Regulatory Standards 㻙䠄Announced on September 25, 2013䠅 The Company implements additional safety measures

20. Slide 20: Safety Measures at Hamaoka Nuclear Power Station<2>

    Safety Measures at Hamaoka Nuclear Power Station<2>: 16 Overview of Work related to Earthquake Countermeasures for Units 3 and 4 - (Announced on September 25, 2013) The Company has set the seismic ground motion and amplified seismic ground motion for renovation works mentioned below with an eye on i

21. Slide 21: Safety Measures at Hamaoka Nuclear Power Station<3>

    Safety Measures at Hamaoka Nuclear Power Station<3>: 17 Roadmap p for Safety y Improvement p Works - Concerning the additional safety measures it decided to implement, the Company starts improvement works for Unit 4 before Unit 3, taking into account the progress of the design and the volume of the

22. Slide 22: Electricity Supply & Demand <1>: Results for Summer FY 2013

    Electricity Supply & Demand <1>: 18 Results for Summer FY 2013 䕔Electric Power Demand Results for Summer FY 2013 Despite experiencing record hot weather (hotter than the severe summer 2010), thanks to the continuous i efforts ff off many customers t to t conserve energy Peak load fell by 1,340MW fro

23. Slide 23: Electricity Supply & Demand <2>: Outlook for Winter FY 2013

    Electricity Supply & Demand <2>: 19 Outlook for Winter FY 2013 ŠPeak load (three-day average) We estimate the peak load at 22,670MW, considering several factors including the actual peak load in winter 2012, effects of customers’ energy conservation, weather and economic condition. (We estimate the

24. Slide 24: Outlook for Fuel Procurement in FY2013

    Outlook for Fuel Procurement in FY2013 20 - Outlook for fuel procurement (LNG) - After the suspension of all the units of Hamaoka Nuclear Power Station, the Company has increased the utilization of thermal power plants, mostly LNG, to compensate for the loss of power output by nuclear plants. - For

25. Slide 25: Fund Raising

    Fund Raising 21 - Progress of fund raising in FY 2013 -We plan to raise approximately 300 billion yen in long-term funding in FY 2013. -We have raised approximately 180 billion yen by the end of the second quarter (end of September 2013). (Billion yen) others 156.0 bond 20.0 Funding result Fund to b

26. Slide 26: Efforts toward Promotion of Management Efficiency in FY2013

    22 Efforts toward Promotion of Management Efficiency in FY2013 㻝㻜 㻙 Efforts toward Promotion of Management Efficiency in FY2013 Ტbillion yenᲣ FY2012 Item FY2013 Contents (Reference) [Capital investment] -To review the timing, scope and method of construction works Investments reduction approx.70.0 -

27. Slide 27: Outline of Application for Electricity Rate Increases

    Outline of Application for Electricity Rate Increases 㻥23 - On 29/10/2013 29/10/2013, the Company applies for a 4.95% 4 95% increase in electricity rates under regulation from April 1, 1 2014 with the Minister of Economy, Trade and Industry (a 8.44% increase in electricity rates under liberalization

28. Slide 28: Reference Data

    Reference Data The New Regulatory Standards<1>: Outline of "the New Regulatory Fuel Procurement<1>: LNG Contracts 䞉䞉䞉䞉䞉䞉䞉䞉 38 䞉䞉䞉䞉䞉䞉䞉䞉 24 St d d " Standards" Fuel Procurement<2>: LNG Ship Charter 䞉䞉䞉䞉䞉䞉䞉䞉 39 The New Regulatory Standards <2>: Method for Conducting Review Fuel Procurement<3>: Advancem

29. Slide 29: The New Regulatory Standards<1>: Outline of the New Regulatory Standards

    The New Regulatory Standards<1>: 24 Outline of "the New Regulatory g y Standards" Compared to the former safety standards, the new regulatory standards have been strengthen the standards to prevent a severe accident, and newly added the standards to cope with a severe accident or a terrorist attack.

30. Slide 30: The New Regulatory Standards <2>: Method for Conducting Review and Inspection

    The New Regulatory Standards <2>: Method for Conducting Review and Inspection After Enforcement of 25 the New Regulatory Standards (Image) - Application for compatibility check to New Regulatory Requirements, the effectiveness of the both hardware and software, software such as the design of facilit

31. Slide 31: The New Regulatory Standards<3>: Influence of 40-years regulation

    The New Regulatory Standards<3>: 26 Influence of 40-years y regulation g < Article 43, Paragraph 3, Item 31 of the Law for the Regulations of Nuclear Source Material, Nuclear Fuel Material and Reactors> - The operation period of a power reactor shall be 40 years from the start of operation. When app

32. Slide 32: Hamaoka Nuclear Power Station <1>: Severe accident countermeasures

    Hamaoka Nuclear Power Station <1>: 27 10 Severe accident countermeasures (Installation of a filter vent equipment) Measures to prevent a large-scale discharge of radioactive materials 㻙Venting containment vessels is indispensable for prevention of their damage. We will install a filter vent equipmen

33. Slide 33: Hamaoka Nuclear Power Station <2>: Seawater inflow at Reactor No.5

    Hamaoka Nuclear Power Station <2>: 28 Seawater inflow via damaged tubes in the main condenser for Hamaoka Reactor No.5 Fact - On May 14, 2011, when preparing for cold shutdown after reactor No. 5 was suspended, a portion of the tubes in the main g which seawater flowed to cool steam, was damaged. co

34. Slide 34: Hamaoka Nuclear Power Station <3>: Reinforcement of disaster measures

    Hamaoka Nuclear Power Station <3>: 29 18 Reinforcement of disaster measures of Hamaoka Nuclear Power Station - Review and Strengthening of Nuclear Disaster Prevention System -In addition to construction of tsunami protection wall and other tangible measures, we will strengthen its disaster preventio

35. Slide 35: Electric Power System Reform <1>: Schedule

    Electric Power System Reform <1> : 30 Schedule of the Electric Power System Reform - Ordinary 2013 Diet session The bill for the Act for Partial Revision of the Electricity Business Act was submitted to the Diet session,, but the bill was abandoned. - Extraordinary Diet session in the fall of 2013 T

36. Slide 36: Electric Power System Reform <2>: Smart Meter

    Electric Power System Reform <2> : Smart Meter 31 㻝㻡 - Progress of argument regarding the introduction of smart meters “Basic Energy Plan” decided at the cabinet “Tentative plan for the energy supply-demand balance ” meeting (June 18, 2010) decided at the cabnet meeting (Aug 5, 2011) - Aim to introd

37. Slide 37: Electricity Supply & Demand <1>: Outlook for Winter (January 2014) in Japan

    Electricity Supply & Demand <1>: Outlook of Electricity Supply and Demand for Winter (January 2014) in Japan 32 29 (GW) West Japan Hokkaido 100 9 1% 9.1% 10 0% 10.0% 80 8.0% 6.5% 5.5% 5.5% 60 4.8% 6.0% 40 3.0% 3.0% 4.0% (1 30) (1.30) 20 (0.78) (0.96) 2.0% (0.29) (0.33) (0.47) 0 0.0% Chubu Kansai Hok

38. Slide 38: Electricity Supply & Demand <2>: Strengthen Mutual Support among power companies

    Electricity Supply & Demand <2>: Strengthen Mutual 䠍 Support among power companies 33 䕔 Reinforcement of the FC (Frequency Converter) (Outline of the master plan interim report regarding strengthening inter-regional inter regional interconnection, interconnection etc. etc ) - Reinforce 900MW FC capa

39. Slide 39: Electricity Supply & Demand <3>: Composition of Power Sources and Electric Energy Output

    Electricity Supply & Demand <3>: Composition of Power Sources and Electric Energy Output 34 - Composition of Power Sources (GW) 0 5 10 15 20 25 30 35 40 FY2010 12% 13% 41% 15% 19% FY2011 12% 13% 41% 15% 19% FY2012 Ƃ36GWƃ 11% 12% 43% 15% 19% Nuclear Coal LNG Oil etc. Hydro Renewable - Composition of

40. Slide 40: Thermal Power Plants <1>: Development of LNG Thermal Power Plants

    Thermal Power Plants <1>: Development of LNG Thermal 㻝㻡 Power Plants with Enhanced Efficiency 35 - Outline of development of LNG thermal power plants with enhanced efficiency 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (FY) 䕰Mar.-07: construction started 䕰Jul.-12: commercia

41. Slide 41: Thermal Power Plants <2>: Reinforcement Plan for LNG Handling Facilities

    Thermal Power Plants <2>: Reinforcement Plan for LNG 㻝㻢 Handlingg Facilities 36 - Supporting stable yet flexible LNG procurement 䐟Additional LNG tanks & reinforcement to LNG 䐠 s o oof ggass 䐠Installation receiving dock Shin-Nagoya pipeline across Ise Bay 䐢Installation of ( for Toho Gas Co.) Mie-Shig

42. Slide 42: Thermal Power Plants <3>: Actions against Earthquakes

    Thermal Power Plants <3>: Actions at Thermal Power 䠍 Plants etc. against Earthquakes 37 ŠThermal power plants To further improve the reliability of all power stations from the standpoint of public safety, the Company will implement measures necessary to ensure We will reinforce the earthquake resist

43. Slide 43: Fuel Procurement<1>: LNG Contracts

    Fuel Procurement<1>: LNG Contracts 38 - Principal LNG Contracts (1,000 t/year) Contract volume Projects / <delivery> Period of contract (approximate figure) Qatar1 / <Ex-ship> 1997 - 2021 (approx.25 years) 4,000 Australia (extension) / <Ex-ship> 2009 - 2019 (approx.10 years) 500 Australia (expansion

44. Slide 44: Fuel Procurement<2>: LNG Ship Charter

    Fuel Procurement<2>: LNG Ship Charter 39 39 ŠLNG Ship Charter - We concluded three contracts of LNG ship charter to enhance efficiency and flexibility of procurement by managing freight charge. - We are planning to arrange five more LNG ship charters for Freeport LNG project. 1st Ship 2nd Ship 3rd S

45. Slide 45: Fuel Procurement<3>: Advancement of Coal Trading

    40 Fuel Procurement<3>: Advancement of Coal Trading 36 - Coal trading g business -Chubu Electric and Electricite de France’s subsidiary EDFT each established 100% subsidiaries in Japan and started fuel trading business under partnership agreement in FY2008. -Effective in April, 2010, Chubu Energy Tr

46. Slide 46: Fuel Procurement<4>: Acquisition of Interests in Energy Resources

    Fuel Procurement<4> Acquisition of Interests in Energy Resources 41 - Acquisition of upstream interests, etc.ೌ Cordova Embayment Integra ႩƷӕࢽཞඞƳƲ] (Shale gas) (Coal) Ichthys Project output capacity: Project output capacity: (LNG) Approx 3.3 million ton/year Approx 3.5 million ton/year in LNG (planne

47. Slide 47: Fuel Procurement<5>: Results of FY2012

    Fuel Procurement<5> Results of FY2012 42 Russia Others 3.4 2.8 䠄䠂䠅 Russia 5.4 Asia 8.3 Australia LNG Coal 10 6 10.6 Australia (14.279mil.t) 45.2 Indonesea Qatar Ტ10.316mil.tᲣ 52.0 Africa 60.8 .5 11.5 Malaysia 4.1 Gabon 15.3 Crude oil Indonesea Ტ1,062,000klᲣ 44.2 Vietnam 36 4 36.4 Figures in parenthe

48. Slide 48: Renewable Energy <1>: Feed-in Tariff Scheme

    Renewable Energy <1> : Feed-in Tariff Scheme 43 䕔 Governmental efforts toward promotion of Renewable Energy Feed-in Tariff Scheme for Renewable Energy ᲢImplementation from July 1,2012Უ What shall -Electricity generated from Solar PV*, wind power, hydraulic power, geothermal and biomass be purchased

49. Slide 49: Renewable Energy <2>: Our efforts toward Promotion

    Renewable Energy <2> : Our efforts toward Promotion 44 㻝㻡 - Details for promotion of renewable energy Output Detailed plans Operation commences (MW) Mega Solar Iida 1 FY 2010 Wind Sollar Ch b El Chubu Electric ti M Mega S Solar l T Taketoyo k 75 7.5 FY 2011 Mega Solar Shimizu 8 FY 2014 (Plan) (Phase

50. Slide 50: Growth Business <1>: Sales Strategy

    Growth Business <1>: Sales Strategy 45 㻢 - Offers Off off energy solution l ti service i To respond to diversified and sophisticated customers’ needs, Chubu Electric and its group companies combine forces to offer solution service using advantages of both electricity and gas. - Offers of gas, LNG an

51. Slide 51: Growth Business <2>: Business Alliance with Tokyo Electric Power (TEPCO)

    Growth Business <2>: 46 6 46 Business Alliance with Tokyo Electric Power (TEPCO) - The Company applied for a business alliance with TEPCO with the aim of cooperating with TEPCO for a stable supply of electricity in their business area and strengthening its revenue base. The Company participated in t

52. Slide 52: Growth Business <3>: Acquisition of Shares of Diamond Power Corporation

    Growth Business <3>: 47 6 45 Acquisition of Shares of Diamond Power Corporation - The Company has decided to acquire shares of Diamond Power Corporation and participate in the establishment of a power generation company to promote the electricity sales business in the 50Hz area of Japan (East Japan)

53. Slide 53: Growth Business <4>: Overseas Business Deployment

    Growth Business <4>: Overseas Business Deployment 48 - Outline of overseas business Investment amount Output based on Chubu's stake* (approximate) At the 2Q FY2013 Cumulative total 100 billion yen Cumulative total 3,260 MW * represents Chubu Chubu'ss stake in total output of whole projects it partic

54. Slide 54: Financial Results <1>: Fuel cost adjustment system and thermal fuel cost

    Financial Results <1> 49 Fuel cost adjustment system and thermal fuel cost <Diagram of impacts of thermal fuel cost on the Fuel Cost Adjustment System> Price Monthlyy fluctuations in fuel p prices are reflected in unit prices of electricity as prescribed by the Fuel Cost Adjustment System. Fuel pric

55. Slide 55: Financial Results <2>: Retirement Benefit Cost (Non-consolidated)

    Financial Results <2> 50 Retirement Benefit Cost (Non-consolidated) (Non consolidated) 䕔Actuarial Differences (billion yen䠅 Amount of amortization Change Recorded amounts R Recorded d d 䠄 Excess amounts year FY2012(A) FY2013(B) (B)䠉(A) reserved䠅 FY2009 (29.3) (8.5) 8.5 FY2010 12.2 3.4 3.4 FY2011 (3.

56. Slide 56: Financial Results <3>: Cash Flow (Non-consolidated)

    Financial Results <3> Cash Flow (Non-consolidated) 51 (billion yen) 800.0 փಅCF Cash Flows from Operating Activities 608 9 608.9 ৲᝻CF Cash Flows from Investing Activities 600.0 563.4 548.6 556.9 523.6 FCF 522.2 402.6 424.1 420.1 400 0 400.0 426.0 333.8 376.7 270.0 214.4 200.0 237.4 276.8 229.0 146.0

57. Slide 57: Financial Results <4>: Shareholders' Equity Ratio, Debt-Equity Ratio

    Financial Results <4> Shareholders’ Equity Ratio, 52 Debt - Equity Ratio - Shareholders’ equity ratio - Debt - equity ratio 䠄Times䠅 35% 5 Non-Consolidated Non-Consolidated Consolidated Consolidated 30% 4 25% 20% 22.8Ჟ 3 ᲢNon-ConsolidatedᲣ 2.4Times 15% (Non Consolidated) (Non-Consolidated) 24.7Ჟ 2 ᲢC

58. Slide 58: Application for Electricity Rate Increases <1>: A change in the cost

    Application for Electricity Rate Increases <1> 䠖 㻥53 A change g in the cost at the time of the electricityy rate revision (billion yen) FuelȷPurchased Power Capital cost Maintenance Salaries and employee benefits other Ტ57%Უ 2,500.0 Ტ43%Უ Ტ27%Უ 2 000 0 2,000.0 Ტ26%Უ Ტ33%Უ Ტ28%Უ 562.0 1,409.5 935.2 5

59. Slide 59: Application for Electricity Rate Increases <2>: Application cost

    Application for Electricity Rate Increases <2> 䠖Application cost 㻥54 - Although we factored into the applied electricity rates a cost reduction of 163.3 163 3 billion yen, yen through the maximum possible efforts in raising management efficiency, we saw the costs used as a basis for the rate revisio

60. Slide 60: Application for Electricity Rate Increases <3>: Efforts toward Promotion of Management Efficiency

    Application for Electricity Rate Increases <3>䠖 㻥55 Efforts toward Promotion of Management Efficiency - The Company has been implementing extensive cost reduction efforts to raise management efficiency since the suspension of all reactors at the Hamaoka Power Station in May 2011. In April 2013, the

61. Slide 61: DISCLAIMER

    DISCLAIMER This presentation Thi t ti contains t i assumptions ti andd forward-looking f d l ki statements t t t with ith respect to the financial conditions, and forecasts of the company, which are based on information currently available. These assumptions involve certain risks and uncertainties,

Chubu Electric Power — H1 FY2013 Earnings Presentation on 6ix