Key Developments: Chubu Electric Power Co Inc (9502.T)

9502.T on Tokyo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Chubu Electric Power Co Inc Amends Full-year Consolidated Outlook for FY 2014; Amends Mid-term and Year-end Dividend Forecasts for FY 2014
Tuesday, 17 Sep 2013 02:00am EDT 

Chubu Electric Power Co Inc announced that it has reaffirmed its full-year consolidated outlook for revenue of JPY 2,720,000 million, and raised its full-year consolidated outlook for operating profit (loss) from JPY (75,000 million) to JPY (65,000 million), ordinary profit (loss) from JPY (110,000 million) to JPY (100,000 million), net profit (loss) from JPY (75,000 million) to JPY (65,000 million), and earnings (loss) per share from JPY (98.99) to JPY (85.79), for the fiscal year ending March 31, 2014. This is due to the reduction in costs. According to I/B/E/S Estimates, analysts on average are expecting the Company to report its full-year consolidated outlook for revenue of JPY 2,752,390 million, operating profit (loss) of JPY (55,580 million) and net profit (loss) of JPY (60,230) million, for the same fiscal year. The Company also has amended its mid-term and year-end dividend forecasts from an undetermined value to JPY 0.00 per share, for the same fiscal year.  Full Article

Mitsubishi Corp, Nippon Paper Industries Co Ltd and Chubu Electric Power Co Inc to Establish Power Business Joint Venture- JCN Newswire
Tuesday, 6 Aug 2013 10:47pm EDT 

JCN Newswire reported that Mitsubishi Corp, Nippon Paper Industries Co Ltd and Chubu Electric Power Co Inc have signed an agreement for the establishment of a joint venture company to build and operate a 100MW class coal-fired power facility in Shizuoka Prefecture, Japan. Mitsubishi Corp will hold 70% of shares in the joint venture, while Nippon Paper Industries and Chubu Electric will each hold 20% and 10% respectively. The power generated will be sold to Diamond Power Corporation.  Full Article

Chubu Electric Power Co Inc to Acquire Subsidiary of Mitsubishi Corp-Nikkei
Tuesday, 6 Aug 2013 08:00pm EDT 

Nikkei reported that Chubu Electric Power Co Inc will acquire a subsidiary of Mitsubishi Corp, a power company named diamond power.  Full Article

Chubu Electric Power Co Inc to Fully Acquire Cenergy Co.; to Transfer Business to Cenergy Co.
Tuesday, 30 Jul 2013 11:00pm EDT 

Chubu Electric Power announced that it will acquire 25,088 shares of its subsidiary Cenergy Co., which engaged in the liquefied natural gas sale business and on site energy service business and make Cenergy a wholly owned subsidiary of the Company. The acquisition is expected to be completed in late August 2013. After that, the Company will transfer its air conditioner entrust business to Cenergy, effective October 1, 2013.  Full Article

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Japan's Tepco, Chubu Electric venture aims for cheapest LNG in East Asia

TOKYO - A venture set up last month by Tokyo Electric Power (Tepco) and Chubu Electric Power to handle their fuel business aims to become the cheapest liquefied natural gas (LNG) buyer in East Asia, its president said in an interview.

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