Chubu Electric Power Company, Incorporated
Notice Regarding Recording of Extraordinary Losses (Impairment Losses and Nuclear Fuel Valuation Losses) and Revision of Consolidated Earnings Forecast for the Fiscal Year Ending March 2027
Chubu Electric Power Company, Incorporated will record extraordinary losses related to the Hamaoka Nuclear Power Plant and has revised its consolidated full-year earnings forecast for the fiscal year ending March 2027. The extraordinary losses are approximately 380,000 million yen in total, consisting of impairment losses on fixed assets in the nuclear business of 304,900 million yen and nuclear fuel valuation losses of 65,300 million yen. Revised full-year net sales are 4,200,000 million yen, ordinary income is -110,000 million yen, net income attributable to owners of parent is -215,000 million yen, and net income per share is -284.51 yen, representing a substantial downward revision from the previous forecast. Additional impairments are expected going forward amid uncertainty in meeting the new regulatory standards.
Key Figures
- Net Sales: 4,200,000 million yen (vs. previous forecast +300,000 million yen)
- Ordinary Income: 110,000 million yen (vs. previous forecast -750,000 million yen)
- Net Income Attributable to Owners of Parent: -215,000 million yen (vs. previous forecast -375,000 million yen)
AI要約
Overview of Performance
Chubu Electric Power Company, Incorporated announced in its second quarter results for the fiscal year ending March 2027 that, following an inappropriate matter in the conformity review for the new regulatory standards at the Hamaoka Nuclear Power Plant and based on a determination that future cash flow uncertainty is high, it carried out impairment of assets related to the nuclear business. As a result, the total amount to be recorded as extraordinary losses is expected to be approximately 380,000 million yen, and full-year net sales have been revised to 4,200,000 million yen. Ordinary income is expected to decrease substantially, and net profit is expected to turn into a loss.
Outlook and Impact
The booking of extraordinary losses has led to a significant downward revision of the full-year earnings forecast. Additional impairments related to capital expenditures from the third quarter onward are also expected, and further impacts may occur depending on future nuclear-related operational conditions. Assumptions such as electricity sales volume and foreign exchange have been reviewed, and recovery of the earnings structure is expected to require time.
Chubu Electric Power Company, Incorporated
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