TOKYO, May 19 (Pulse News Wire) – Chudenko Corporation (1941.T) disclosed its strong ties with China Electric Power Co., Ltd., which held 41.41% of its voting rights as of March 31, 2026. During the fiscal year ending March 31, 2026, Chudenko conducted electrical construction work worth ¥498 million for China Electric Power, representing 41.41% of its total revenue.
Chudenko noted that while it maintains significant business relationships with China Electric Power, including receiving three employees on loan, the company retains operational independence through independent decision-making processes. One of Chudenko's four audit committee members also serves as a senior executive at China Electric Power, highlighting the close relationship between the two companies.
In addition to the construction contracts, Chudenko received a long-term loan of ¥20 million from China Electric Power, with interest rates determined based on prevailing market conditions. Chudenko emphasized that despite these connections, its operations remain independent and unaffected by external influences.
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