Fiscal Year Ending March 2026 Earnings Report [Japanese GAAP] (Consolidated)

Overview of Performance

For the fiscal year ending March 2026, consolidated net sales were 761.8 billion yen, a decrease of 10.5% compared to the previous year. Operating income was 67.8 billion yen, down 23.8%, and ordinary income was also 67.8 billion yen, down 25.9%. Net income attributable to owners of parent was 50.8 billion yen, a 25.6% decrease. The decline in net sales was primarily due to a reduction in fuel cost adjustment amounts and decreased wholesale sales revenue. Operating expenses declined due to lower personnel costs and decreases in thermal power unit prices, but profitability was impacted by reduced amortization of actuarial differences related to retirement benefits and increased miscellaneous expenses.

Dividend Status and Forecast for Next Fiscal Year

The annual dividend for fiscal year 2026 is planned at 50 yen per share (interim 25 yen, year-end 25 yen), a 5 yen increase from the previous year. For the fiscal year ending March 2027, consolidated earnings forecasts anticipate net sales of 925.0 billion yen (up 21.4% YoY), operating income of 37.0 billion yen (down 45.5%), ordinary income of 40.0 billion yen (down 41.1%), and net income attributable to owners of parent of 30.0 billion yen (down 41.0%). Net sales are expected to increase due to higher revenue unit prices linked to rising fuel costs, but profits are forecasted to decline due to increased retirement benefit-related expenses and other factors.