The Tokyo Electric Power Co., Inc. (TEPCO) announced that operating revenues
for the FY 2010 first quarter (from April 1 to June 30, 2010) decreased 1.1%
from the same period of the previous fiscal year to 1,221.6 billion yen (down
1.5% to 1,169.0 billion yen on a non-consolidated basis). Ordinary income
decreased 42.0% from the same period of the previous fiscal year to 49.4
billion yen (down 56.4% to 31.2 billion yen on a non-consolidated basis).
Due to extraordinary loss of 57.1 billion yen (56.6 billion yen on a non-
consolidated basis) resulting from applying "Accounting Standards for Asset
Retirement Obligations", the first quarter net loss was 5.4 billion yen
(17.4 billion yen on a non-consolidated basis).
Electricity sales in the FY 2010 first quarter increased 5.5% from the same
period of the previous fiscal year to 68.4 billion kWh. The reasons are that
sales of specific-scale demand were above the level of the same period of
the previous fiscal year due to the increase in the large industrial power
sector with recovery in the economy, and the increase in heating demand caused
by lower temperature in early spring compared with the previous year.
By type of demand, electricity sales for residential use increased by 6.5% to
22.8 billion kWh, those for low-voltage power increased by 4.4% to 2.6 billion
kWh, and those for specified-scale demand increased by 5.1% to 43.0 billion kWh,
compared with the same period of the previous fiscal year, respectively.
On the revenues side, electricity industry sales revenues decreased 2.1%
from the same period of the previous fiscal year to 1,094.5 billion yen due
to the decrease in revenues caused by fuel cost adjustment system and so on,
in spite of the increase in electricity sales. Operating revenues, including
electricity sales to other companies, etc., decreased by 1.1% to 1,221.6 billion
yen (down 1.5% to 1,169.0 billion yen on a non-consolidated basis). Ordinary
revenues decreased by 0.4% to 1,251.1 billion yen (down 0.7% to 1,189.0 billion
yen on a non-consolidated basis).
On the expenses side, ordinary expenses in electricity business increased 2.6%
from the same period of the previous fiscal year to 1,201.6 billion yen (up 2.8%
to 1,157.8 billion yen on a non-consolidated basis) due to the increase in fuel
costs caused by fuel prices hike.
(Note)
Please note that this purports to be an accurate and complete translation of the
original Japanese version prepared for the convenience of our English-speaking
audience. However, in the case of any discrepancy between the translation and
the Japanese original, the latter shall prevail.
Appendices:
Closing Summary (PDF 13.9KB)
Summary of Non-consolidated Financial Results for the First Quarter of Fiscal year 2010
(Three Months Ended June 30, 2010) (PDF 13.3KB)
Projections for Fiscal Year 2010 (PDF 8.44KB)
Table of Data on Revenues and Expenses (Non-consolidated Basis) (PDF 30.8KB)