01

CORPORATE PROFILE

Corporate Profile (As of the end of March 2008)

Founded (J-POWER) September 16, 1952Employees Group total 6,524 (including 2,201parent company employees)Main business activities Wholesale power supply (J-POWER) Hydropower stations 59 Total output 8.56 GW Thermal power stations 8 Total output 7.82 GW (including geothermal)

Transmission lines (total route length) 2,408 km Customers 10 general electric utilities (regional power companies) Other electricity business Wind farms 8 Total output 0.21 GW Wholesale power supply to general electric utilities via independent power producers (IPP)

1 Total output 0.13 GW Wholesale power supply to power producers and suppliers (PPS) 2 Total output 0.22 GW Ancillary business related to electricity Design, construction, and maintenance of electric power facilities, supply of fuel for power generation Diversified business Investment in overseas power generation projects and new energy businesses such as power generation from waste materials in JapanTotal sales (consolidated basis) 587,800 million yen Revenue from electricity supply 531,800 million yen

J-POWER Group Business Outline(J-POWER and consolidated subsidiaries, as of the end of March 2008.)

J-POWER was founded as an electricity wholesaler by the Japanese government in 1952 and is the only company with a nationwide network of transmission and substation facilities playing a key role in the gen-eration and supply of electricity throughout Japan. Since its establishment J-POWER has contributed to economic growth and the improvement of everyday life in Japan by providing moderately priced and stable electricity supply to general electric utilities (10 regional power companies). The company was fully privatized in October 2004.

02

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Business Outline

東京

東北

北海道

中部

沖縄

九州

四国

中国

北陸

関西

J-POWER Group Business OutlineFacilities in Japan (As of the end of March 2008)

Overseas Operations (As of the end of March 2008)

20030

100

200

300

400

500

600

Ordinary incomeOperating revenue Operating expenses

2004 2005 2006 2007 (FY)

537.1

42.9

587.8(Billion yen)

OtherWholesale thermal power Hydropower

2003 2004 2005 2006 2007 (FY)

(GWh)

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

1,682

8,287

52,499

62,469

58.3％

90.5％

19.5％

9.7％

3.0％9.5％

Revenue from other operations56.0

Other power supply17.7

Transmission, etc.56.8

Hydropower114.6

Operating revenuefrom electricity supply531.8

Thermal power342.7

Total 587.8

Unit: Billion yen

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000(MW)

Toky

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Kans

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Chu

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Kyus

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Toho

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Nuclear power HydropowerThermal power

Overseas offices

Countries where J-POWERoperates (including completed projects)

Hydropower stationThermal power station (including geothermal)Wind farmIndependent power producers (IPP)Generation for power producers and suppliers (PPS)

Transmission lineSubstation (including converter stations)Research institute

Planned/Under constructionHydropower stationThermal power stationNuclear power stationTransmission line

Note: The group also has dedicated communication facilities, and there are facilities owned by group companies.

13

09

07

01030405

19202123

25272931

33

343537

39

Continual Improvement in Environmental Management

Ensuring the Stable Supply of Electricity

Harmony with Society

Developing Human Resources and

Creating a Dynamic Workplace

Business Partner Relations

Roundtable Discussion with Distinguished Experts

Readers’ Opinions

Third-Party Review

Overview of Compliance Code; Fiscal 2008J-POWER Group Environmental Action Guidelines

Fiscal Year Data

Treaties and Laws Relating to Global Warming

Glossary

J-POWER: Main Business Sites and Significant Consolidated Subsidiaries

575963

67

687172

74

75778184

41

42

03

PROLOGUE

53

Ensuring Transparency and Reliability

Contents

• The J-POWER Group operates under its corporate philosophy of contributing to the sustainable development of Japan and the rest of the world. Accordingly, this report is titled Sustainability Report to express our intention of achieving sus-tainable growth and development of both the Group and society. It summarizes and reports on J-POWER’s corporate activities under the headings of Management, Envi-ronment, and Social Responsibilities.

• This report includes all consolidated subsidiaries and is representative of the entire J-POWER Group.

• Key issues of the J-POWER Group have been listed in the Special Features section with the aim of clearly identifying them.

• All data (inputs and outputs) on “Busi-ness Activities and the Environment” have been calculated for the J-POWER Group as a whole. Joint investments have been cal-culated according to the investment ratio.

• To ensure objective credibility, this report has been independently evaluated by Ernst & Young ShinNihon Sustainabil-ity Institute Co., Ltd. (see page 72 for details).

• Opinions on issues that exist toward the fulfillment of J-POWER’s corporate social responsibilities have been drawn from a wide spectrum of experts, researchers, and journalists with the goal of improv-ing corporate management so that it may contribute to building a sustainable soci-ety and of increasing the reliability and transparency of our operations.

• This report is also available at J-POWER’s website as “J-POWER Group Sustainabil-ity Report 2008.” Information on busi-ness plans and financial data are pro-vided in its Annual Reports.

Period covered: April 2007 to March 2008 (some items include information per-taining to April 2008 and beyond)

Scope: J-POWER and J-POWER Group companies (consolidated subsidiaries)Where data applies only to J-POWER, or includes Group companies, this fact is noted in the text.

Guidelines referred to:Ministry of the Environment, Environ-mental Reporting Guidelines: Fiscal Year 2007 VersionGlobal Reporting Initiative (GRI), Sus-tainability Reporting Guidelines 2006

Report issued since: 1998Next report due: July 2009 (tentative

schedule)

Management

EnvironmentEnvironmental Management

Efforts Relating to Global Environmental Issues

Social Responsibilities

External Evaluation and Outside Opinions

References

Editorial Policies

Note concerning forecasts

The plans, strategies, and forecasts set out in this report have been formulated based on currently available information. Unforesee-able changes in various factors may cause results to differ from projections.

Efforts Relating to Local Environmental Issues

Reduction of Environmental Load

Management of Chemical Substances Functioning in Harmony with Nature

Establishing a Sound Material-Cycle Society

Environmental Recycling Program

Environmental Infrastructure Operations

Supporting the World’s Sustainable Development

4345464850

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WEB http://www.jpower.co.jp/english/

J-POWER Group Business Outline

Contents, Editorial Policies

J-POWER Group’s Corporate Social Responsibility

Message from the President

Special Feature 1

Achieving Safe, Sustainable Use of Nuclear Energy

Special Feature 2

Fulfilling Our Commitment to Stable Supply

Special Feature 3

Making Coal Use Compatible with Measures to Counter Global Warming

Corporate Governance

Emergency Management

Compliance

Information Security Activities

Four Strategies to Fight Global Warming

CO2 Emissions from Business Activities

Maintenance and Improvement of Energy Use Efficiency

Development of Low-CO2-Emission Power Sources

Development, Transfer, and Dissemination of New Technologies

Utilization of the Kyoto Mechanisms andOther Measures

Reduction of Emissions of Greenhouse Gases Other Than CO2

Efforts to Reduce Environmental Load during Distribution

Stepping Up Energy Conservation at Our Offices

Environmental Management Vision

Targets for the J-POWER Group’s Action Program

Business Activities and the Environment (Fiscal 2007)

Environmental Accounting and Eco-efficiency