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

April 30, 2020

Tokyo Electric Power Company Holdings, Inc.
Takashi Kawamura, Chairman, Board of Directors

It was decided today at meetings of the Nominations Committee and the Board of Directors that after the 96th annual shareholders meeting to be held in June of this year, I shall resign my position as chairman of the Board of Directors and a new candidate for chairman shall be nominated.

During the three years since I was appointed as outside director/Chairman (part-time, no right of representation), I have worked diligently alongside the president/CEO and all of management as we engaged in tasks related to Fukushima, such as providing compensation, helping the region to recover, and carrying out decommissioning. We have also strived to strengthen existing businesses and expand our range of business amidst a harsh business environment created by competition that transcends industry type and region, which has been spurred by a decrease in domestic power demand and the total deregulation of the electricity and gas retail markets, so as to improve corporate value even in the face of these harsh circumstances.
Through approximately 60 site visits and opinion exchanges, etc., I have been able to hear the opinions of those on the front lines in the field and directly convey to employees my opinions about the importance of "earning power" and "kaizen activities."
As a result, although these initiatives are still underway and continued perseverance is necessary, I believe we are steadily moving in the right direction.

The role of the Board of Directors is to choose a direction for corporate strategies, and provide oversight, instruction, and support to management. During these three years I believe that I have been able to share information closely with management while also maintaining an appropriate level of tension in our relationship, and that we have almost solidified the corporate governance of TEPCO by becoming a company with committees.
I have worked with TEPCO management since I was selected as a member of the Committee on TEPCO Reforms and 1F Issues (TEPCO Committee) in 2016, and we have engaged in management reforms in accordance with the New Comprehensive Special Business Plan (Third Plan) formulated based on recommendations given by the TEPCO Committee.
Currently, we are moving forward with deliberation on the formulation of a new comprehensive special business plan, and, whereas I had originally only planned to serve as an outside director for two or three years until I turned 80, I believe that it is an appropriate time for me to step down and relinquish the helm of the Board of Directors to a new chairman.
Mr. Shoei Utsuda, who has been nominated as the next chairman, has served as the president of Mitsui & Co., Ltd. and has a plethora of experience. He is also been involved with TEPCO management reforms for the past three years in the capacity of an outside director. I am certain that he is the most suitable candidate for chairman of the Board of Directors and will be able to carry out discontinuous reforms in accordance with the new comprehensive special business plan while working as one with President Kobayakawa and the rest of TEPCO management.
During the remaining approximate two months of my term in office, I shall continue to the best of my ability to fulfill my duties.

Thank you.