On April 25, 2019, Hokuriku Electric Power Company released its 2030 Long-Term Vision Plan, along with an implementation plan, the Medium-Term Management Plan from 2019 to 2022. The plans recognize the changing landscape of Japan’s energy industry and present a set of action plans for Hokuriku Electric Power Company to achieve sustainable growth. Hokuriku Electric Power Company serves customers in the northwestern part of Japan, in the Hokuriku region, which includes Toyama, Ishikawa, and part of Fukui and Gifu prefectures.

Japan’s energy industry has experienced significant changes caused by population decline, the introduction of emerging technologies such as IoT, AI, and EVs, environmental regulations for climate change, and by the intensifying competition led by the implementation of a deregulated electricity retail market. Hokuriku Electric Power expects further changes in the future and foresees the disruption of existing business models due to the adoption of innovative technologies and the growing awareness of the need to promote a sustainable society.

To accommodate the changes, Hokuriku Electric Power developed its 2030 Long-Term Vision Plan and its Medium-Term Management Plan from 2019 to 2022. The two pillars of the plans are 1) the expansion of a comprehensive energy business, including increasing clean energy generation capacity, maintaining a stable electricity supply, and increasingly providing more value-added services to customers; and 2) cultivating new growing businesses, including expansion into domestic and overseas business markets, new products, and service development.