Press Release
FY2021 Second Quarter Financial Results
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 FY2021 (April 1~September 30, 2021).
Despite the entire Group’s continual efforts to improve income and expenditure, consolidated ordinary income decreased year-on-year (YoY) by 123.4 billion yen to 101.3 billion yen due to worsening of the impact for JERA from the time lag inherent to the fuel adjustment system and a decrease in retail power sales volume.
Furthermore, quarterly net income attributable to owners of the parent was 88.6 billion yen after extraordinary income/loss was offset by the appropriation of 29.8 billion yen of nuclear damage compensation as extraordinary loss since 29.8 billion yen of subsidies from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation was appropriated as extraordinary income.
[Ordinary income/loss for core companies]
Ordinary income for FY2021Q2 for each core company is as follows:
- Ordinary income for TEPCO HD increased by 34.7 billion yen YoY to 98.0 billion yen due to an increase in received dividends from core companies.
- Ordinary income for TEPCO Fuel & Power, Inc. decreased by 37.9 billion yen YoY to 7.3 billion yen due to worsening of the impact for JERA of the time-lag inherent to the fuel cost adjustment system.
- Ordinary income for TEPCO Power Grid Inc. decreased by 17.1 billion yen YoY to 106.6 billion yen due to a decrease in consigned transmission revenue and an increase in facility-related expenses.
- Ordinary income for TEPCO Energy Partner, Inc. decreased by 40.0 billion yen YoY to 5.8 billion yen due to a decrease in retail power sales volume caused by increased competition and the impact of daily temperatures.
- Ordinary income for TEPCO Renewable Power Inc. decreased by 1.6 billion yen YoY to 35.0 billion yen due to an increase in fixed asset taxes.
[FY2021 Performance Forecast] (The forecast announced on July 29, 2021 has been revised as follows)
According to our FY2021 Performance Forecast, total power sales volume is expected to increase so operating revenue is forecasted to increase by 366 billion yen to 4.850 trillion yen compared to the forecast announced on July 29, 2021. Ordinary income is forecasted to decrease by 87 billion yen resulting in a loss of 13 billion yen compared to the forecast announced on July 29, 2021 as a result of worsening of the impact from the time-lag inherent to the fuel cost adjustment system. A loss of approximately 16 billion yen is also forecasted for net income attributable to owners of parent.
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