Govt-Backed JIC Chief Yokoo Eyed as Next TEPCO Chairman

Tokyo, April 25 (Jiji Press)--Tokyo Electric Power Company Holdings Inc. is considering appointing Keisuke Yokoo, president of the Japanese government-affiliated Japan Investment Corp., as its next chairman, informed sources said Saturday.

If the appointment is approved, the 74-year-old will become the fifth chairman in a row picked from outside the major Japanese power company, and the first with a financial industry background.

The personnel decision will be finalized after approval at a regular general meeting of shareholders to be held in June at the earliest.

After graduating from Keio University, Yokoo joined Industrial Bank of Japan Ltd., now Mizuho Bank, in 1974. He then went on to serve as president and subsequently chairman of Mizuho Securities Co., before being appointed head of JIC in 2019.

Yokoo is expected to succeed 79-year-old incumbent Chairman Yoshimitsu Kobayashi, who has a chemical industry background. Meanwhile, TEPCO will likely retain current President Tomoaki Kobayakawa, 62.

[Copyright The Jiji Press, Ltd.]