Fiscal Year Ending March 2026 Financial Summary [Japanese GAAP] (Consolidated)

Performance Overview

Consolidated results for the fiscal year ending March 2026 consisted of operating revenue of 786.5 billion yen (8.4% YoY decrease), operating income of 87.4 billion yen (13.4% decrease), ordinary income of 85.0 billion yen (6.9% decrease), and net income attributable to owners of parent of 54.4 billion yen (16.4% decrease). Sales were impacted by decreases in fuel cost adjustment revenues and capacity reservation contract amounts. Special income included disaster relief grants of 2.2 billion yen, while special losses included an impairment loss of 8.7 billion yen due to the decommissioning of Unit 1 at the Fukui Thermal Power Plant Mikuni. By segment, total electricity sales volume in the power generation and sales business increased by 3.8% from the previous year, although sales revenue declined. The transmission and distribution business experienced a slight increase in sales but a decrease in ordinary income, and other businesses saw decreases in both sales and profits.

Financial Condition and Cash Flow Overview

Total assets amounted to 1.842 trillion yen (99.0% compared to the previous year), total liabilities were 1.3907 trillion yen (95.3%), and total net assets were 451.3 billion yen (112.6%), improving the equity ratio to 24.4%. Cash flow from operating activities was 117.4 billion yen (77.1%), cash flow from investing activities was 48.5 billion yen (20.8%), and cash flow from financing activities was 57.9 billion yen (118.5%). The balance of cash and cash equivalents at the fiscal year end was 92.9 billion yen, maintaining approximately the same level as the previous year.

Outlook

The consolidated earnings forecast for the fiscal year ending March 2027 anticipates net sales of 760.0 billion yen (3.4% YoY decrease), operating income of 40.0 billion yen (54.3% decrease), ordinary income of 35.0 billion yen (58.8% decrease), and net income attributable to owners of parent of 25.0 billion yen (54.1% decrease). Total electricity sales volume is expected to decline to approximately 31 billion kWh. Dividends are planned at 25 yen annually (12.5 yen interim and 12.5 yen year-end).