FY 2017 Third Quarter Financial Results
Jan 30, 2018
Today, Tokyo Electric Power Company Holdings, Inc. finalized its consolidated FY2017 Third Quarter (April 1 through December 31, 2017) Financial Results.
While electricity sales revenue increased 2.6% year-on-year (YoY) to 3.3207 trillion yen due to an increase in the unit price of electricity resulting from fuel cost adjustments etc., electricity sales volume decreased 4.0% YoY to 170.1 billion kWh.
Operating revenue, including revenue from power sold to other utilities and suppliers (inter-regional electricity sales and electricity sales to other companies) etc., increased 8.5% YoY to 4.2064 trillion yen. Ordinary revenue increased 8.0% YoY to 4.2412 trillion yen.
Ordinary expenses increased 9.6% YoY to 3.9669 trillion yen despite all efforts by the Group to cut costs (such as limiting consumption of relatively expensive fuel) amidst the continuing shutdown of all nuclear power stations due to increased fuel costs caused by an increase in fuel prices and increase of power purchasing costs etc.
As a result, ordinary income decreased 10.4% YoY to 274.2 billion yen.
While 128.6 billion yen in grants-in-aid appropriated by the Nuclear Damage Compensation and Decommissioning Facilitation Corporation was recorded as extraordinary income, extraordinary loss in the amount of 139.3 billion yen from nuclear damage compensation resulted in a YoY decrease in quarterly net income attributable to owners of parent of 26.8% to 225.6 billion yen.
【FY2017 3rd Quarter】
【FY2017 Full-year Financial Forecasts】
(There have been no revisions to the projections released on October 31, 2017)
In regards to FY2017 projections, operating revenue is expected to increase by 392 billion yen from the previous fiscal year to around 5.75 trillion yen due to an increase in electricity sales revenue resulting from the rise in fuel cost adjustments etc.
In spite of an increase in operating revenue, ordinary income is expected to decrease by 28 billion yen from the previous fiscal year to around 200 billion yen due to an increase in fuel costs and costs associated with power purchasing, etc.
Net income attributable to owners of parent is expected to increase by 155 billion yen from the previous fiscal year to around 288 billion yen with grants-in-aid from Nuclear Damage Compensation and Decommissioning Facilitation Corporation being accounted for as extraordinary income, etc.