Interview with Sato Hiroki, Senior Managing Executive Officer, Division CEO of Global Business Division
Chubu Electric is one of Japan’s biggest power utilities, serving the central region that’s home to major automakers including Toyota Motor. The utility is also a 50% owner of JERA, Japan’s top operator of thermal power plants and the world’s biggest LNG importer.
With the full liberalization of Japan’s power market in 2016, Chubu Electric has expanded its business outside of the central areas and into new sectors. These include entry into the burgeoning carbon capture industry and investments into renewable energy. The company is also putting more effort to grow its business internationally, and two years ago set up a Global Business Division to seize on worldwide opportunities in energy.
“Our goal is to make strategic investments of ¥400 billion by 2030. Of course, there’s a time lag between investment and returns, so in the near term, our division seeks to generate profits of ¥10 billion by the second half of the 2020s. So far, things are progressing very smoothly.”