Preparing for change at Chubu

3 August 2003

Chubu Electric Power of Japan is preparing for large-scale reorganisation of the company, including the creation of new divisions to help increase management efficiency.

Earlier, Chubu had announced its latest financial results, reporting a fall in both revenue and profit for the first time in four years. Sales fell 2.4% from the previous year, and operating profits fell by 6.1% from the previous year to $2.8 million. Chubu also projected that electricity sales would fall in fiscal 2003.

Separately, Chubu has revised target dates for the resumption of operations at three of the four units at Hamaoka. Chubu said that unit 3 would resume operations at the end of October 2003 (previously scheduled to resume operations in August), followed by unit 1 at the end of November (previously set for September). Unit 4 was due to resume operations at the end of July. Hamaoka 3 was voluntarily taken out of service for inspections in 2002, while the plant's remaining units have been undergoing regular planned outages.

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