Tokyo Electric Power Company Holdings Second Quarter Fiscal 2021 Financial Results

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October 27, 2021

Tokyo Electric Power Company Holdings, Inc.

Today, Tokyo Electric Power Company Holdings, Inc. (TEPCO HD) released its consolidated financial results for the second quarter of fiscal 2021 (April 1 to September 30, 2021).

Despite the continued efforts of the entire Group to improve revenues and expenses, consolidated ordinary profit declined year-over-year from 123.4 billion yen to 101.3 billion yen due to the worsening of the impact for JERA of the lag inherent in the fuel adjustment system. and a decrease in the volume of retail electricity sales.

In addition, the quarterly net income attributable to owners of the parent company was 88.6 billion yen after the extraordinary income / loss was offset by the allocation of 29.8 billion yen for nuclear damage compensation in as extraordinary loss since 29.8 billion yen of subsidies from the Nuclear Damage Compensation and Decommissioning Facilitation The company was affected as extraordinary income.

[Ordinary income/loss for core companies]
Ordinary income for fiscal year 2021Q2 for each major company is as follows:
– TEPCO HD’s ordinary income increased from 34.7 billion yen year-on-year to 98.0 billion yen due to an increase in dividends received from key companies.
– TEPCO Fuel & Power, Inc.’s ordinary profit decreased from 37.9 billion yen year-on-year to 7.3 billion yen due to the worsening impact for JERA of the inherent lag in the system. fuel cost adjustment.
– TEPCO Power Grid Inc.’s ordinary income decreased from 17.1 billion yen year-on-year to 106.6 billion yen due to a decrease in recorded transmission revenue and an increase in expenses related to facilities .
– Ordinary income of TEPCO Energy Partner, Inc. decreased from 40.0 billion yen year-on-year to 5.8 billion yen due to lower volume of retail electricity sales caused by increased competition and the impact of daily temperatures.
– Ordinary income of TEPCO Renewable Power Inc. decreased from 1.6 billion yen year-on-year to 35.0 billion yen due to an increase in taxes on fixed assets.

[FY2021 Performance Forecast] (The forecast announced on July 29, 2021 has been revised as follows)
According to our performance forecast for FY2021, total electricity sales volume is expected to increase, so operating revenue is expected to increase by 366 billion yen to 4.8 trillion yen from the forecast announced on the 29th. July 2021. Ordinary income is expected to decrease by 87 billion yen. yen resulting in a loss of 13 billion yen compared to the forecast announced on July 29, 2021 due to the worsening impact of the lag inherent in the fuel cost adjustment system. A loss of around 16 billion yen is also expected in net income attributable to owners of the parent company.

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TEPCO – Tokyo Electric Power Company Holdings Inc. published this content on October 27, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on October 27, 2021 08:47:05 AM UTC.


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