Financial Summary for the Third Quarter of Fiscal Year Ending March 2026 [Japanese GAAP] (Consolidated)

Performance Overview

For the cumulative consolidated period of the third quarter of the fiscal year ending March 2026, net sales were 864.559 billion yen, a 9.8% decrease compared to the same period last year. Although there was an increase in electricity sales volume in the power generation business, decreases in sales in Thailand, the suspension and decommissioning of the Matsushima thermal power plant, and declines in capacity market prices had an adverse impact. Operating income declined 22.8% to 88.265 billion yen; however, ordinary income increased 5.1% to 131.484 billion yen, and net income attributable to owners of parent for the quarter increased 5.4% to 84.049 billion yen. The increase in ordinary income was supported by gains in non-operating income, particularly an increase in equity-method investment income from the transfer of equity interests in U.S. thermal power businesses.

Segment Performance and Financial Position

Net sales in the power generation business totaled 626.5 billion yen, down 9.5% YoY, with segment profit decreasing 37.3% to 39.8 billion yen. The transmission and transformation business recorded net sales of 37.1 billion yen (down 1.8% YoY) and profit of 6.6 billion yen (down 16.8%). The power-related ancillary business posted net sales of 54.5 billion yen (down 15.6%) and profit of 9.6 billion yen (down 54.8%). Overseas business revenue decreased 9.8% to 167.8 billion yen, but profit increased significantly by 131.9% to 74.6 billion yen. Net assets stood at 1.5021 trillion yen, up 38.6 billion yen from the previous fiscal year-end, and the equity ratio rose to 37.5%. While the number of treasury shares increased due to treasury stock acquisitions, the number of shares outstanding remains unchanged.