KEPCO to 'steadily promote business plans' amidst concerns from stakeholders

KEPCO vowed to comply with business plans to regain stakeholder trust.

Kansai Power Electric (KEPCO) said it is steadily promoting its business plans to address certain inconveniences and concerns placed upon its customers and stakeholders, amongst others.

It received a business improvement in July 2023 under the Electricity Business Act to which it crafted a business improvement plan to “prevent recurrence and reported the plan to the Minister of Economy, Trade and Industry (August 10, 2023).” 

It also received another business improvement order prior to this back in April 2023, where it also created a business improvement plan to prevent recurrence.

Moving forward, KEPCO said it will comply with measures to prevent recurrence and work to improve its corporate culture.

“We will work hard on strengthening internal control and reforming corporate culture as stated in our business improvement plans, while making evaluations from an outside viewpoint by the further involvement of the Board of Directors and the Audit Committee,” read the statement published in its recent unaudited financial figures, which was posted on the bourse.

KEPCO generated a net income attributable to owners of the parent of ¥371m in the six months that ended September 20, 2023, compared to the net loss of ¥76m in the same period last year.

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Currently, the company is venturing towards forming partnerships for expansion and innovation, such as a joint study with Cosmo Energy Holdings for the launch of a CCS value chain in the Sakai-Semboku Area, near Osaka Bay.