Chubu Electric chairman, president to resign over nuclear data scandal

NHK reported on September 13, citing unidentified sources, that President Kingo Hayashi and Chairman Satoru Katsuno have decided to resign. The utility is expected to announce their departures on September 14. The company stated on its website that no such decision has been made at this time.

The move follows an investigation commissioned by Chubu Electric in January into allegations that it falsified earthquake-risk data and provided false explanations to Japan's nuclear regulator during safety reviews. These assessments were required to restart the No. 3 and No. 4 reactors at the Hamaoka plant in Shizuoka prefecture. An independent panel submitted a report on the misconduct on September 10.

NHK also reported on September 11 that Chubu Electric was preparing to withdraw its application to restart the Hamaoka reactors, and its shares fell as much as 4.2% following the report. The misconduct is believed to have occurred since at least 2012. Katsuno became chairman in 2015.

This scandal adds to a series of problems at Chubu Electric, including errors in calculating costs used to set retail electricity rates and improperly billing costs for decommissioning reactors. Industry Minister Ryosei Akazawa called the problems "extremely regrettable" on September 11, adding that authorities would consider the strictest necessary response.