Press Release
(Comment) Nomination as Chairman of the Board of Directors

April 30, 2020

Tokyo Electric Power Company Holdings, Inc.
Shoei Utsuda, Director

Today at the meetings of the Nominations Committee and the Board of Directors, I was nominated to become chairman of the Board of Directors following the annual shareholders meeting and subsequent Board of Directors meeting to be held in June of this year.

During the three years since I became an outside director in 2017, I have watched the TEPCO Group steadily move forward with Fukushima initiatives while facing the difficult corporate issue of having to win out over fierce competition by further improving productivity through discontinuous corporate reforms and creating new value in the midst of decreasing domestic demand for power.

Choosing a direction for management strategies to address these issues and providing support and oversight for bold management decisions are the roles of the Board of Directors, and I am fully aware of the enormous responsibility of the chairman that presides over this body.

I believe that the chairman and the Board of Directors has functioned well to provide governance to TEPCO HD, a company with committees, in the form of a nominations committee comprised of primarily outside directors. As chairman of the Board of Directors, I shall continue to provide highly effective corporate oversight and contribute to continually improving the corporate value of the TEPCO Group as I fulfill my important responsibilities.

I would like to thank all of our stakeholders for your continued cooperation and support for the TEPCO Group.

Thank you.