Kansai Electric Unlikely to Name Hashimoto to Board

Economy

Osaka, April 20 (Jiji Press)--Kansai Electric Power Co. <9503> is in talks to reject the city of Osaka's proposal for the firm to name Toru Hashimoto, former mayor of the western Japan city, as an outside director of its board, it was learned Monday.

The power supplier is expected to soon make a decision at a board meeting, informed sources said.

At a meeting of Kansai Electric's nomination and compensation committee, comprising outside board directors, on the day, many participants sounded cautious about the city government's proposal, noting, among other things, that Hashimoto has strong relations with a particular political party, according to the sources.

It is now highly likely that Hashimoto will not be included in the Kansai Electric's list of board member candidates to be presented to a general meeting of its shareholders in June for approval, the sources said.

The city of Osaka, the capital of Osaka Prefecture, is the top shareholder of the utility, which serves the Kansai region of western Japan including the prefecture.

[Copyright The Jiji Press, Ltd.]

Jiji Press