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

Overview of Performance

The Kansai Electric Power Group regards the fiscal year ending March 2026 as the final year of its medium-term management plan and implemented the 'KX (Kanden Transformation)', reporting substantial achievement of financial targets. Total electricity sales volume was 152.2 billion kWh, a 2.5% decrease from the previous year. Net sales amounted to JPY 4,056,638 million, down 6.5% YoY; operating income was JPY 437,556 million, down 6.1% YoY; and net income attributable to owners of parent was JPY 380,051 million, down 9.6% YoY. Ordinary income was JPY 518,530 million, down 2.5%. While reductions in operating expenses supported profits, decreases in electricity sales revenue had a negative impact.

Financial Position and Cash Flow Status

Total assets increased 2.1% YoY to JPY 9,854,646 million, and net assets rose 12.7% YoY to JPY 3,502,744 million. The equity ratio increased 3.3 points to 35.1%. Cash flow from operating activities increased 13.4% YoY to JPY 652,381 million, whereas cash flow used in investing activities was JPY 571,921 million, up 67.1% YoY. Cash flow from financing activities was an outflow of JPY 290,219 million. As a result, cash and cash equivalents at the end of the fiscal year totaled JPY 741,286 million.

Dividend Status

The annual dividend for the fiscal year ending March 2026 was JPY 75 per share (interim dividend: JPY 30, year-end dividend: JPY 45), an increase from JPY 60 per share in the previous year. The forecasted dividend for the fiscal year ending March 2027 is JPY 80 per share (interim dividend: JPY 40, year-end dividend: JPY 40). The consolidated payout ratio policy aims to maintain or increase dividends around 25–35%.

Consolidated Earnings Forecast for Fiscal Year Ending March 2027

Net sales are forecast at JPY 4.5 trillion (up 10.9% YoY), operating income at JPY 250 billion (down 42.9% YoY), ordinary income at JPY 290 billion (down 44.1% YoY), and net income attributable to owners of parent at JPY 310 billion (down 18.4% YoY). Declines in nuclear utilization rates, rising fuel market prices, and increased expenses due to inflation are expected to pressure profitability.