Fiscal Year 2025 Third Quarter Financial Results Presentation

Performance Overview

Consolidated net sales for the third quarter of fiscal year 2025 were 2.5663 trillion yen, a decrease of 85.2 billion yen (3.2%) compared to the same period last year. The main factors for the decline were a decrease in fuel cost adjustment amounts and others (down 74.0 billion yen) and the impact of transition to affiliated companies. On the other hand, ordinary income was 240.7 billion yen, an increase of 18.4 billion yen (8.3%) year-over-year. Despite incurring costs related to the new regulatory conformity review for the Hamaoka Nuclear Power Plant, contributions came from fuel procurement effects at JERA and increased profits in the domestic thermal power business. Net income attributable to owners of parent for the quarter was 202.5 billion yen, up 35.4 billion yen year-over-year, reflecting the increase in ordinary income.

Segment Performance and Outlook

By segment, Mirai's net sales were 2.1153 trillion yen, down 1.3% year-over-year, and ordinary income decreased by 2.4% to 111.3 billion yen. Power Grid recorded net sales of 675.1 billion yen, down 1.3%, while ordinary income increased by 9.5 billion yen from 30.3 billion yen. JERA’s ordinary income was 98.7 billion yen, a 64.2% increase year-over-year, supported by fuel procurement impacts and increased profits from overseas and renewable energy generation businesses. The fiscal 2025 earnings forecast remains unchanged from the October 28, 2025 announcement, with net sales of 3.55 trillion yen and ordinary income of 230.0 billion yen.