New chief of Chubu Electric pledges governance overhaul

Kakegawa, Shizuoka Pref. – Minoru Yasui, the new president of Chubu Electric Power, pledged Thursday to reform corporate governance following a series of misconduct cases involving the firm’s nuclear plant in Shizuoka Prefecture.

Yasui met with Masaru Shimomura, mayor of Omaezaki, Shizuoka Prefecture, home to the Hamaoka nuclear plant, to outline the company’s approach to regain local trust following the scandals, including data falsification involving earthquake assumptions.

After also visiting Makinohara and Kakegawa, neighboring Shizuoka Prefecture cities that have safety agreements with Chubu Electric, Yasui told reporters that he has conveyed the company’s intention to change its governance to municipal officials.

“I wanted to apologize for the scandals and convey my resolve to fundamentally rebuild the company,” Yasui said of his decision to make the visits on his first day as Chubu Electric chief.

Shimomura told reporters after the meeting that Yasui has offered an apology and outlined the company’s structural reforms. The mayor said he has again urged the company to ensure safety while taking local residents’ views into account.

Yasui succeeded Kingo Hayashi, who resigned as president to take responsibility for the scandals. The new president is scheduled to meet with Shizuoka Governor Yasutomo Suzuki on Friday.