FY2019 First Quarter Financial Results
Jul 31, 2019
Tokyo Electric Power Company Holdings, Inc.
Tokyo, July 31, 2019—Tokyo Electric Power Company Holdings, Inc. (TEPCO) released its consolidated FY2019 First Quarter (April 1 through June 30, 2019) Financial Results.
The consolidated ordinary income rose 98.5 billion JPY, or 46.3%, from the pevious year in the company’s fiscal 2019 first quarter. The improvement was due to an gain incurred by fuel cost adjustment system time lag and continued cost reductions across the group. Power sales decreased on a volume basis to 52.2 billion kWh, down 0.8%.
Consolidated extraordinary income came to 313.2 billion JPY, totaling 113.5 billion JPY from the reversion of a discontinued allowance for disaster damages and a 199.7 billion JPY gain in shareholder equity. Extraordinary losses included 30 million JPY for nuclear damage compensation and 95.6 billion JPY for decommissioning work at Fukushima Daini Nuclear Power Station. Net income attributable to owners of the parent totaled 281.6 billion JPY.
[Ordinary Income/Loss for each Company]
Ordinary income/loss for FY2018 Q1 for each company is as follows.
• TEPCO Holdings: rose 2.5 billion JPY to 156.4 billion JPY due to reduced costs of in-house production, etc.
• TEPCO Fuel & Power, Inc.: rose 23.3 billion JPY to 45.8 billion JPY due to fuel cost adjustment system time lag at JERA, which has taken over the group’s thermal power business, etc.
• TEPCO Power Grid, Inc.: rose 3.8 billion JPY to 42.6 billion JPY due to increased consignment income and decreased costs of repairs and depreciation.
• TEPCO Energy Partner, Inc.: fell 3.6 billion JPY to 12 billion JPY due to intensified competition.