Chubu Electric Power Company, Incorporated [9502.T]
TOKYO, May 19 (Pulse News Wire) – Chubu Electric Power Company,incorporated (9502.T) announced today that its subsidiaries, including Mirais Energy Change Co., Ltd., ENECHANGE EV Lab Co., Ltd., EV Charging Infrastructure I Co., Ltd., and EV Charging Infrastructure II Co., Ltd., filed for corporate reorganization proceedings with the Tokyo District Court due to difficulties in securing sufficient revenue from their electric vehicle charging services. Mirais Energy Change and related companies aimed to expand their EV charging operations but faced challenges such as lower-than-expected EV adoption rates and rising installation costs, leading to insufficient revenues and increased operational expenses.
Despite efforts to reduce fixed costs and seek additional funding, the companies concluded that continued self-funding was unfeasible amid uncertain external conditions. As a result, they initiated the reorganization process to continue their EV service while seeking potential sponsors to support their recovery.
The total liabilities of Mirais Energy Change stood at approximately ¥4.745 billion as of May 13, 2026. Chubu Electric plans to provide necessary operating funds through its subsidiary during the restructuring phase and is currently assessing the impact on its consolidated financial results for the fiscal year ending March 2026.
The company will disclose further developments promptly if needed.
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