FY 2018 Financial Results
Apr 25, 2019
Tokyo Electric Power Company Holdings, Inc.
Today, Tokyo Electric Power Company Holdings, Inc. released its consolidated financial results for FY2018 (April 1, 2018 through March 31, 2019).
While electricity sales volume for the entire TEPCO Group decreased by 4.2% year-on-year (YoY) to 230.3 billion kWh as a result of intensified competition, consolidated ordinary income increased 8.5% YoY to 276.5 billion yen due to continual cost reductions made by all Group companies, regardless of a rise in fuel costs.
Furthermore, while 159.8 billion yen in grants-in-aid appropriated by the Nuclear Damage Compensation and Decommissioning Facilitation Corporation was recorded as extraordinary income, 26.9 billion yen in extraordinary loss on disaster and 151 billion yen in nuclear damage compensation expenses resulted in a 26.9% YoY decrease to 232.4 billion yen in net income attributable to owners of parent for this term.
[Ordinary Income/Loss for each Company]
Ordinary income/loss for FY2018 for each company is as follows.
- Ordinary income for TEPCO HD, Inc. increased by 90.5 billion yen YoY to 232.7 billion yen due to decreases in outsourcing expenses and increases in dividends received from subsidiary companies.
- Ordinary income for TEPCO Fuel & Power, Inc. decreased by 48.4 billion yen to 3.5 billion yen due to increases in fuel costs caused by rising fuel prices despite decreases in maintenance expenses resulting from cost reduction initiatives.
- Ordinary income for TEPCO Power Grid, Inc. increased by 34.9 billion yen to 113.9 billion yen due to increases in wholesale power sales to the electric power exchange and other areas, and decreases in outsourcing and maintenance expenses.
- Ordinary income for TEPCO Energy Partner, Inc. decreased by 43.2 billion yen to 72.7 billion yen due to decreases in electricity sales volumes resulting from fierce competition, despite increases in electricity sales volumes in outside areas.