Press Release
FY2023 Third Quarter Financial Results
January 31, 2024
Tokyo Electric Power Company Holdings, Inc.
Today, Tokyo Electric Power Company Holdings, Inc. (TEPCO HD) released its consolidated financial results for the third quarter of FY2023 (April 1, 2023~December 31, 2023).
Operating revenue decreased by 673.2 billion yen year-on-year (YoY) to 5,105.0 billion yen due mainly to a decrease in TEPCO Power Grid Inc.’s revenue related to supply-demand adjustments caused by lower fuel/market prices.
Ordinary income increased by 891.5 billion yen to a profit of 518.4 billion yen due to the advantageous impact of the time-lag inherent to the fuel cost, etc. adjustment system.
Furthermore, with the appropriation of 108.7 billion yen of nuclear damage compensation as extraordinary loss, quarterly net income attributable to owners of the parent increased to a profit of 351.3 billion yen.
※1 The amount of impact felt due to changes to the accounting process for adjustment transactions has also been reflected in FY2022Q3 figures.
※2 The amount of impact felt in conjunction with the application of IFRS by an equity method affiliate (JERA) has also been reflected in FY2022Q3 figures.
[Ordinary income/loss of each company]
The ordinary income/loss of each company during FY2023Q3 was as follows:
- Ordinary income for TEPCO HD increased by 17.0 billion yen YoY to 64.4 billion yen due to an increase in received dividends from core operating companies.
- Ordinary income for TEPCO Fuel & Power, Inc. increased by 252.4 billion yen YoY to a profit of 151.6 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 68.9 billion yen YoY to 184.0 billion yen due to a decrease in electricity procurement costs.
- Ordinary income for TEPCO Energy Partner, Inc. increased by 591.7 billion yen YoY to a profit of 222.8 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. decreased by 7.5 billion yen YoY to 43.7 billion yen due to a decrease in wholesale power sales and an increase in repair costs.
※The amount of impact felt in conjunction with the application of IFRS by an equity method affiliate (JERA) has also been reflected in FY2022Q3 figures.
[FY2023 Performance Forecast]
TEPCO is engaged in providing nuclear damage compensation expeditiously and appropriately, but we are still unable to estimate the total compensation amount pertaining to the discharge of ALPS treated water. Therefore, at current time we have yet to compile our FY2023 performance forecast.
<Attachment>
