Press Release
FY2023 First Quarter Financial Results
August 2, 2023
Tokyo Electric Power Company Holdings, Inc.
Today, Tokyo Electric Power Company Holdings, Inc. (TEPCO HD) released its consolidated financial results for the first quarter of FY2023 (April 1, 2023~June 30, 2023).
Operating revenue increased by 81.0 billion yen year-on-year (YoY) to 1,615.1 billion yen due to an increase* in fuel cost, etc. adjustments.
*Includes 130.7 billion yen of subsidies provided through government measures to mitigate sharp fluctuations in electricity prices.
Ordinary income increased by 263.2 billion yen YoY to 233.1 billion yen due to the advantageous impact of the time-lag inherent to the fuel cost, etc. adjustment system.
Furthermore, since 50.3 billion yen of nuclear damage compensation was appropriated as extraordinary loss, quarterly net income/loss attributable to owners of the parent resulted in a profit of 136.2 billion yen.
※1 The amount of impact felt due to changes to accounting processing for adjustment transactions is also reflected in FY2022 Q1 figures.
※2 Includes 130.7 billion yen of subsidies provided through government measures to mitigate sharp fluctuations in electricity prices.
※3 The amount of impact felt in conjunction with the application of IFRS by an equity method affiliate (JERA) has also been reflected in FY2022 Q1 figures.
[Ordinary income/loss of each company]
The ordinary income/loss of each company during FY2022Q1 was as follows:
- Ordinary income for TEPCO HD increased by 32.5 billion yen YoY to 142.4 billion yen due to an increase in received dividends from core operating companies.
- Ordinary income for TEPCO Fuel & Power, Inc. increased by 74.4 billion yen YoY to 83.6 billion yen due to the advantageous impact for JERA from the time-lag inherent to the fuel cost adjustment system.
- Ordinary income for TEPCO Power Grid Inc. increased by 12.8 billion yen YoY to 48.9 billion yen due to an increase in lighting and power fees and a decrease in electricity procurement costs.
- Ordinary income for TEPCO Energy Partner, Inc. increased by 173.6 billion yen YoY to a profit of 82.8 billion yen due to the advantageous impact of the time-lag inherent to the fuel cost, etc. adjustment system.
- Ordinary income for TEPCO Renewable Power Inc. increased by 0.5 billion yen YoY to 22.1 billion yen due to an increase in wholesale power sales.
※The amount of impact felt in conjunction with the application of IFRS by an equity method affiliate (JERA) has also been reflected in FY2022Q1 figures.
[FY2023 Performance Forecast]
Our FY2023 performance forecast has not yet been finalized because we are unable to determine when the Kashiwazaki-Kariwa Nuclear Power Station will recommence commercial operation. We shall make an announcement when the performance forecast is ready for release.
<Attachment>
