President’s Message

First of all, we would like to express our sincere gratitude to our shareholders and investors for their enormous support for and cooperation with the management of Tokyo Electric Power Company Holdings, Incorporated and its group companies (the “Group”).

To accomplish the Group’s biggest mission, which is to fulfill our responsibilities for Fukushima, we are doing our best regarding the compensation, restoration and decommissioning of reactors. As for the decommissioning of reactors, last November, we moved on to a new phase by succeeding in a fuel debris test retrieval, which is a crucial process of the decommissioning work, at the Fukushima Daiichi Nuclear Power Station Unit 2. While we keep facing unprecedented challenges, we will unite and proceed with the decommissioning work by establishing One Team system based on a solid trust relationship beyond the constraints of positions with local and other companies that deal with the project. Moreover, with regard to the discharge of ALPS-treated water into the ocean, no abnormalities have been detected in the results of sea area monitoring, and the discharge has been safely conducted. We will continue to take all precautions for ensuring safety, maintain objectivity and transparency with the International Atomic Energy Agency’s review, etc., and try to execute accurate and easy-to-understand information dissemination in Japan and overseas.

Meanwhile, as for the electricity business in Japan, the business environment surrounding the Group is drastically changing, with the expected rise in electricity demand along with the advancement of digital transformation (DX) and green transformation (GX). The investment required to accurately consider these changes and sustain the growth of the electricity business is significantly expanding. In addition to the recent price hike and interest rate increase, lately, we have been recording negative cash flow. However, we will aim to improve free cash flow by executing the best rationalization through measures such as the selection and concentration of businesses, and uninterrupted management reform. Moreover, as for the Kashiwazaki-Kariwa Nuclear Power Station, which is an essential power source from the viewpoint of the improved resilience of the power supply and the achievement of carbon neutrality, giving top priority to ensuring safety, we are doing our best to gain the understanding of residents for the early restart of the operation.

The Company cannot again satisfy our shareholders’ expectations for dividends this fiscal year. However, with the above-mentioned efforts, we will strive to enhance our reputation in the market by improving the financial structure and generating profits. We ask for your continued understanding of and cooperation with the Group’s management.

May, 2025
Tokyo Electric Power Company Holdings, Incorporated