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The Toho Gas Group, an energy group operating mainly in Aichi, Gifu and Mie Prefectures, focuses on supplying natural gas, a clean, environment-friendly source of energy.
Although economic conditions in our service region have begun gradually picking up, there remain some uncertainties about the future. Competition with other energy sources has intensified and we need to pay keen attention to the impacts of the government's review of its energy and environmental policies.
While the business environment for the Toho Gas Group has become severer, the Company's service region has high growth potential. Moreover, since natural gas is environmentally friendly and excels in economy and convenience, we believe it will become more important for society as the demand for environmental conservation intensifies.
Amid these circumstances, the Toho Gas Group developed a Medium-term Business Plan (for fiscal 2009 through 2013) in March 2009. The focus of the Plan is on the following four issues: "Expansion of demand for natural gas," "Maintaining of steady supply, safety, and freedom from anxiety," "Technical development contributing to global environmental conservation," and "Strengthening of management foundation."
In fiscal 2009, the first year of the Plan, city gas customers increased 0.6% to 2,295,000 while the gas sales volume decreased 1.4% to 3.6 billion m3 from the previous year. Although the sales volume decreased for two consecutive years, it has recovered to more than 90% of the 2007 level, the peak year before the Lehman crisis. No.2 LNG tank at the Chita Midorihama Works and the loop trunk line, which had been under construction since 1974, were completed. Other activities aiming at stable and safe gas supply have steadily progressed. Moreover, a reasonable level of profits was recorded. To sum it up, we made a good start in the first year of the Medium-Term Plan.
In fiscal 2010, the Toho Gas Group will firmly implement the four major issues announced in the Plan, focusing on expanded use and stable supply of natural gas, and safety and security.
The Toho Gas Group will work diligently to attain these goals of the Plan, so as to grow sustainably with local society, and contributing to actualizing a society in harmony with its environment and grow as a corporate group that is supported by shareholders, investors, customers and other stakeholders.
We truly appreciate the continuing understanding and support of our shareholders and investors.
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| June 2010 |
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