Preparations for the Legal Separation of the Transmission and Distribution Business
First written in FY2016. 3 of 7 entries say "Advanced", first in FY2018. Latest entry: FY2021-Q3.
7 other companies' latest entry also says "Restated".
- FY2021-Q3RestatedAnnual report
「In implementing the legal separation, and with the neutrality of the transmission and distribution business and the maintenance of a stable power supply as top priorities, the Company became an operating holding company retaining the corporate functions, meaning the Group headquarters functions, and the power generation and retail electricity businesses, in order to establish an operating structure that could utilize the Group's collective capabilities and efficiency. The transmission and distribution business was transferred to Hokkaido Electric Power Network Co., Ltd., renamed from Hokkaido Electric Power Transmission and Distribution Business Split Preparation Co., Ltd. effective 1 April 2020.」
Following the legal separation on 1 April 2020, the Company became an operating holding company with the headquarters functions and power generation and retail businesses, while Hokkaido Electric Power Network Co., Ltd. assumed responsibility for the transmission and distribution business. This structure was reaffirmed together with changes to segment classification. - FY2021-Q2AchievedAnnual report
「Pursuant to the amended Electricity Business Act enacted in June 2015 and effective 1 April 2020, the Company transferred its transmission and distribution business to a separate company effective 1 April 2020. This is referred to below as the legal separation.」
Effective 1 April 2020, the Company implemented the legal separation by transferring the transmission and distribution business to Hokkaido Electric Power Network Co., Ltd., moving from the preparation stage to completion of the separation into a separate company. - FY2020-Q1AdvancedAnnual report
「At a meeting of the Board of Directors held on 25 April 2019, the Company resolved that, in connection with the separation of the transmission and distribution business into a separate company in April 2020, the general transmission and distribution business and power generation businesses on remote islands operated by the Company, among other businesses, would be transferred to Hokkaido Electric Power Transmission and Distribution Business Split Preparation Co., Ltd. through an absorption-type company split effective 1 April 2020. On 25 April 2019, the Company entered into an absorption-type company split agreement with the successor company. The relevant proposals concerning this absorption-type company split were approved at the 95th Annual General Meeting of Shareholders held on 26 June 2019.」
Regarding the legal separation of the transmission and distribution business, procedures toward implementation of the company split on 1 April 2020 became concrete, with the successor company established, the absorption-type company split agreement executed and approval obtained at the general meeting of shareholders. - FY2019AdvancedAnnual report
「We are steadily preparing for a smooth transition of the organizational structure, having implemented an internal company split through the establishment of the Transmission and Distribution Company in April last year and established Hokkaido Electric Power Transmission and Distribution Business Split Preparation Co., Ltd. in April this year.」
Following the internal company split, a successor company was established in April 2019, advancing preparations for the business to become a separate company in April 2020. - FY2018AdvancedAnnual report
「In anticipation of the legal separation of the transmission and distribution business into a separate company scheduled for April 2020 under the amended Electricity Business Act, we established the Transmission and Distribution Company in April this year and implemented an internal company split.」
As an interim step toward legal separation, the Transmission and Distribution Company was established in April 2018 and an internal company split was implemented. - FY2017RestatedAnnual report
「To prepare for the legal separation of the transmission and distribution business into a separate company scheduled for April 2020, we will establish the Transmission and Distribution Company as an internal company around April 2018 and operate the business under a structure designed with the post-separation organization in mind.」
The preparations for establishing the Transmission and Distribution Company around April 2018 and for the legal separation in April 2020 have been made more concrete. - FY2016First statedAnnual report
「In preparation for the legal separation of the transmission and distribution business into a separate company scheduled for April 2020, we will proceed with studies and preparations to establish an operating structure that enables the Hokuden Group to leverage its collective capabilities and efficiency, while giving top priority to the neutrality of the transmission and distribution business and a stable power supply.」
The planned timing of the legal separation was indicated, along with preparations for a structure that balances neutrality, a stable power supply and Group efficiency.