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To Our Shareholders and Investors
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").
Under the Fourth Comprehensive Special Business Plan, we are working to improve safety and quality in all businesses by prioritizing the initiatives for rebuilding trust. In addition, based on the policy of "Both Reconstruction and Decommissioning," the Group will thoroughly fulfill its responsibilities to Fukushima by promoting safe and steady decommissioning and accelerating reconstruction. To do so, we will swiftly and properly process compensation considering the fifth supplement of the Interim Guideline while preparing for the ocean discharge of ALPS treated water having safety as the priority.
The management environment surrounding the Group in fiscal 2022 became extremely difficult as a result of various factors, including the global rise in fuel prices and the sudden depreciation of the Japanese yen. To overcome these difficult situations, the Group implemented energy-saving measures and thorough cost reductions to cut electricity procurement costs. However, the significant downturn in income due to factors such as the fuel price hike could not be overcome only with management efforts. Although it was a difficult decision to make, we decided to review electricity price rates.
Based on these conditions and the global trend toward the achievement of carbon neutrality, the Group considers that, for our future sustainable growth, it is necessary for us to sincerely promote our efforts to restart operation of the Kashiwazaki-Kariwa Nuclear Power Station and provide value that exceeds customers' expectations. Specifically, we will aim to create new corporate value by converting our business model into one for which the main axis is the facility service business for distributed power supply and storage batteries, etc., which allows us to demonstrate our accumulated strengths.
In fiscal 2022, circumstances still do not enable us to meet the expectations of shareholders with regard to dividends. However, we will continue to carry out the measures of the Fourth Comprehensive Special Business Plan and promote our aims in new domains in order to realize the reinforcement of our corporate foundation and raise our rating in the market. We sincerely ask for your continued understanding of and cooperation with management of the Group.
Tokyo Electric Power Company Holdings, Incorporated