Intensifying Cost Competition for Orders from Incumbent Electric Utilities Following the Full Liberalization of Electricity Retailing

「The business environment surrounding our Group remains challenging due to restraint in capital investment in the electric power industry, although」

「Looking ahead, the Group expects the challenging operating environment for an energy infrastructure business to continue, owing to intensifying competition resulting from a series of electricity system reforms, restrained investment in power facilities, stagnation in economic activity due to the continuing impact of COVID-19, and additional cost pressures arising from soaring prices for energy resources and other raw materials.」

「The business environment surrounding our Group remains challenging, as a series of electricity system reforms have further promoted competition and restraint in power infrastructure investment has progressed.」

「The business environment surrounding our Group remains challenging, as competition for orders for power-related infrastructure construction has intensified and private-sector capital investment has contracted or been postponed due to the COVID-19 pandemic.」

「Regarding the outlook, the electricity system reforms entered their final stage with the legal separation of the generation and transmission businesses, implemented in April 2020 in the electric power industry, and the challenging competitive environment is expected to become entrenched,」

「The business environment surrounding our Group remains challenging, as public investment remains firm but competition for orders and prices in power-related infrastructure construction has intensified with the progress of electricity system reform.」

「The business environment surrounding our Group remains challenging due to the electricity system reforms, including the legal separation of the generation and transmission businesses, as well as reductions in capital investment by electric utilities and their demands for cost reductions.」

「Regarding the outlook, the legal separation of the generation and transmission businesses, which took effect in April 2020 as the final stage of electricity system reform in the electric power industry, is expected to result in demands for even more stringent cost reductions,」

「The business environment surrounding our Group remains challenging, as the timing of nuclear power plant restarts remains uncertain, restraint in power infrastructure investment continues, and intensified competition for orders and cost reduction demands from electric utilities have an impact.」

「While capital investment by companies and others aimed at energy conservation and efficiency remained firm, price competition among electric utilities following electricity liberalization intensified beyond traditional industry boundaries, and the challenging operating environment continued as companies pursued higher productivity and thorough cost reductions.」

「Although there was capital investment by companies and others aimed at energy conservation and efficiency, as well as public works, the operating environment remained challenging because competition in the electricity market intensified and electric utilities demanded greater cost reductions and efficiency improvements than before.」

「While private-sector capital investment aimed at energy conservation and efficiency remained firm, the operating environment continued to be challenging because electricity retailers have increasingly demanded cost reductions from electric utilities following electricity liberalization.」

「While private-sector capital investment, particularly in energy conservation, remained firm, investment in power facilities remained challenging because competition in electricity sales intensified following electricity liberalization and electric utilities continued to demand cost reductions.」

「Meanwhile, the Group's operating environment remains challenging because competition in electricity sales has intensified following electricity liberalization, rationalization efforts have been accelerated, and Tokyo Electric Power Company Holdings, Inc. and other major customers are demanding further cost reductions.」

「While the domestic economy was recovering and private-sector capital investment remained firm, the Group's operating environment remained challenging because competition in electricity sales across regional boundaries intensified following electricity liberalization, and Tokyo Electric Power Company Holdings, Inc., one of its major customers, advanced its New New Comprehensive Special Business Plan, resulting in stronger demands for cost reductions.」

「In the electricity business, competition has intensified sharply as many new operators entered the market, marking the third year since full liberalization of electricity retailing.」

「Meanwhile, the Group's operating environment remains challenging, as competition in electricity sales has intensified following full liberalization of electricity retailing and customers are strongly demanding cost reductions.」

「Meanwhile, the Group's operating environment remains challenging, as competition in electricity sales has intensified following full liberalization of electricity retailing and customers are strongly demanding cost reductions.」

「As electricity system reforms, including full liberalization of electricity retailing, are expected to bring further expansion of competitive forces, the Group expects the challenging order environment to continue.」

「In addition to the various responses by electric utilities to the full liberalization of electricity retailing, the Company's operating environment is becoming more challenging than before because of the potential for further efficiency measures against the backdrop of recommendations for management reform at Tokyo Electric Power Company Holdings, Inc. by an expert panel of the Ministry of Economy, Trade and Industry.」

「Meanwhile, the Group's operating environment has become increasingly challenging in terms of costs for orders from incumbent electric utilities, as full liberalization of electricity retailing began in April amid ongoing electricity system reforms and a succession of companies entered the electricity business.」