July 27, 2011
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■しかく Table of Contents
Table of Contents ■しかく
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Financial Results and Forecasts Summary
FY2011 1st Quarter Financial Results Summary P 1
FY2011 Summary of Full-Year Financial Results Forecasts P 2
FY2011 1st Quarter Financial Results
Electricity Sales Volume P 3
Electricity Generated and Received P 4
Income Statement Summary (Non-Consolidated) P 5
Explanations of Oridinary Expenses (Non-consolidated) Fuel, Purchased Power P 6
■しかく Financial Results and Forecasts Summary
■しかく
■しかく FY20
FY201
11 1st Quarter Financial Results Summary
1 1st Quarter Financial Results Summary ■しかく
■しかく1Consolidated (Unit: Billions of Yen/%)
FY2011/1Q FY2010/1Q Change vs FY2010/1Q
Sales 343.9 335.7 8.1 102.4
Operating Income (Loss) -9.6 20.1 -29.8 -
Ordinary Income (Loss) -12.5 11.5 -24.0 -
(Extraordinary Loss) (-) (18.4) (-18.4) -
Quarterly Net Loss -8.2 -6.5 -1.6 -
Comprehensive income -9.2 -11.2 2.0 -
Non-Consolidated (Unit: Billions of Yen/%)
FY2011/1Q FY2010/1Q Change vs FY2010/1Q
Sales 320.7 311.8 8.8 102.8
Operating Income (Loss) -13.0 17.9 -31.0 -
Ordinary Income (Loss) -18.4 10.7 -29.2 -
(Extraordinary Loss) - (18.3) (-18.3) -
Quarterly Net Loss -12.2 -6.4 -5.8 -20.1 ‐9.611.5 ‐12.5
‐6.5 ‐8.2
335.7 343.90.0100.0
200.0
300.0
FY2010/1Q FY2011/1Q
(Bil. Yen)
-20.0
-10.00.010.020.0(Bil. Yen)
Operating Income(Loss)(right axis)
Ordinary Income(Loss)(right axis)
Quarterly Net Loss(right axis)
Sales (left axis)17.9‐13.010.7‐18.4
‐6.4
‐12.2
311.8 320.70.0100.0
200.0
300.0
FY2010/1Q FY2011/1Q
(Bil. Yen)
-20.0
-10.00.010.020.0(Bil. Yen)
Non-Consolidated
Consolidated
Note: As of the end of FY2011/1Q, 68 affiliates were subject to consolidated accounting.
Breakdown:
Consolidated subsidiaries: 38 companies (an increase of 2 companies from the end of FY2010: 2 new companies)
Equity method companies: 30 companies (no change from from the end of FY2010)
Summary: On both a consolidated and non-consolidated basis, sales increased
while profit decreased. In the electricity business:
・Higher electricity sales due to an increase in electricity sales volume and
an increase in charge unit prices due to adjustments in fuel prices and
other factors.
・An increase in thermal fuel expenses and purchased power expenses due to
factors including a decrease in nuclear power produced due to a delay in the
resumption of operations at Genkai Nuclear Power Station Unit 2 and Unit 3
that were under regular inspection and a rise in fuel prices.
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■しかく FY201
FY2011
1 Summary of Full
Summary of Full-
-Year Financial Results Forecasts
Year Financial Results Forecasts ■しかく
■しかく2[Results forecasts]
Due to factors such as the introduction of new safety evaluations by the
government for nuclear power stations, the schedule for the resumption of the
operations of our nuclear power station still remains uncertain. Therefore, the
results forecast has not yet been determined due to the difficulty of ascertaining
future trends in supply and demand.
We will promptly inform you of our forecasts when it is possible for us to make
them.
[Dividend forecasts]
An interim dividend of 30 yen per share is planned for this year. The year-end
dividend has not yet been determined and we will promptly inform you of our
forecasts when it is possible for us to make them.
■しかく FY2011 1st Quarter Financial Results
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■しかく Electricity Sales Volume
Electricity Sales Volume ■しかく
■しかく3
・General demand decreased by 0.2 TWh (1.1%) compared to the same period last year because the
meter measurement period was shorter than the previous year.
・Demand from large-scale industrial companies increased by 0.3 TWh (4.3%) compared to the same
period last year due to increased production of iron and steel, and chemicals, although demand from
the transport machinery sector decreased due to the impact of the Great East Japan Earthquake.
Electricity Sales Volumes (Unit: TWh/%)
Change %
Lighting 6.9 -0.1 98.7
Power 13.2 0.2 101.4
Total 20.1 0.1 100.5
General 14.1 -0.2 98.9
Large-scale
Industrial
6.0 0.3 104.3
Actual
vs. FY2010/1Q
Reposted
[Ref.] Actual Electricity Sales Volumes (by sector) (Unit: TWh/%)
Change %
6.9 -0.1 98.7
Low voltage 1.0 - 97.2
Others 0.2 - 100.3
8.1 -0.1 98.6
4.5 - 99.8
7.5 0.2 103.0
12.0 0.2 101.8
20.1 0.1 100.5
Demand
other than
under
liberalization
Lighting
Power
Subtotal
Actual
vs. FY2010/1Q
Total
Demand
under
liberalization
Commercial
Industrial
Subtotal
Large-scale Industrial Demand by Sector (Unit: TWh/%)
Change %
1.6 -0.1 98.7
(Reposted)
Electronics
1.2 - 101.6
Transportation 0.3 -0.1 89.3
0.6 0.1 115.1
0.7 0.1 106.5
0.3 0.1 108.9
0.5 - 104.8
2.3 0.1 104.9
6.0 0.3 104.3
Actual
vs. FY2010/1Q
Machinery
Steel and Iron
Chemicals
Clay and Stone
Non-ferrous Metals
Others
Total
[Ref.] Actual Electricity Sales Volumes (by sector) (Unit: TWh/%)
Change %
6.9 -0.1 98.7
Low voltage 1.0 - 97.2
Others 0.2 - 100.3
8.1 -0.1 98.6
4.5 - 99.8
7.5 0.2 103.0
12.0 0.2 101.8
20.1 0.1 100.5
Demand
other than
under
liberalization
Lighting
Power
Subtotal
Actual
vs. FY2010/1Q
Total
Demand
under
liberalization
Commercial
Industrial
Subtotal
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■しかく Electricity Generated and Received
Electricity Generated and Received ■しかく
■しかく4Volume of Electricity Generated and Received (Units: TWh, %)
Change %
1.0 -0.4 70.4
(82.7) (-33.5)
9.5 1.8 122.5
6.8 -2.1 75.9
(59.1) (-18.7)
0.3 -0.1 96.9
17.6 -0.8 95.53.8(0.4)0.8(0.1)
128.6
(118.4)
Interchange 0.1 0.1 −
Pumped Storage Use -0.2 -0.1 205.2
Total 21.3 - 100.2
Subtotal
Received from Other
Companies
(Reposted new energy, etc.)
Actual
vs FY2010/1Q
(Utilization rate)
Generated
Hydro
Thermal
New Energy
Sources, etc.
Nuclear
(Water flow rate)
Trends in Generated and Received
Electricity
9.8 8.6 9.4 8.97.68.58.27.79.51.2 1.4 1.0
3.5 3.4 2.3 2.9 3.76.80.70.80.4 0.30.05.010.015.020.025.0
FY2007/1QFY2008/1QFY2009/1QFY2010/1QFY2011/1Q
Nuclear Thermal Hydro Purchased
power, etc.
New Energy20.621.7 21.3
<59.1>
<84.9>
<74.7> <82.2>
Figures inside parentheses indicate nuclear
power generation capacity utilization rate (%).21.7<77.8>21.3"New Energy Sources, etc.": Generic terms for the sources of solar,
wind power, biomass, waste and geothermal powers
(TWh)
■しかく
■しかく Income Statement Summary (Non
Income Statement Summary (Non-
-Consolidated)
Consolidated) ■しかく
■しかく5(Units: Billions of Yen, %)
FY2011/1Q FY2010/1Q Change vs. FY2010/1Q Explanations
Lighting 130.5 130.5 - 100.1
Power 174.8 167.9 6.9 104.1
Others 18.2 16.2 1.9 112.1
(Sales) (320.7) (311.8) (8.8) (102.8)
323.6 314.7 8.9 102.8
Personnel 40.9 39.2 1.7 104.4
Fuel 85.5 56.7 28.8 150.9
Impact of delayed resumption of operations at nuclear power plants, 20.0;
rise in fuel price, 8.6
Purchased Power 39.2 29.1 10.0 134.5 Impact of delayed resumption of operations at nuclear power plants, 8.0
Maintenance 40.0 41.8 -1.7 95.7
Depreciation 50.0 49.2 0.8 101.7
Interest Charges 7.7 8.0 -0.3 95.8
Miscellaneous Taxes 22.6 23.7 -1.1 95.3
Nuclear Back-End Costs*110.4 11.7 -1.3 88.9
Others 45.3 44.0 1.2 102.8
342.1 303.9 38.2 112.6
(-13.0) (17.9) (-31.0) -
-18.4 10.7 -29.2 -
- 18.3 -18.3 - FY2010 Effect due to appropriation for asset retirement obligations, 18.3
-12.2 -6.4 -5.8 -
Subtotal
Ordinary
Revenues
Ordinary
Expenses
Subtotal
Rise in charge unit prices due to adjustments in fuel prices and other
factors, 4.2; Increase in electricity sales volume, 1.4; Solar power
production promotion subsidiaries, 1.3
(Operating Income (Loss))
Ordinary Income (Loss)
Extraordinary Loss
Quarterly Net Loss
* 1: Nuclear back-end costs consist of the following: Reprocessing costs of irradiated nuclear fuel, Reprocessing preparation costs of irradiated nuclear fuel, Decommissioning costs of
nuclear power plants, and Disposal costs of high-level radioactive waste.
(Key Fundamentals)
Exchange Rate 82 yen/$ 92 yen/$ -10 yen/$
Crude Oil CIF Prices 115 $/b 81 $/b 34 $/b
Water Flow Rate 82.7 % 116.2 % -33.5 %
Nuclear Power Generation
Capacity Utilization Rate 59.1 % 77.8 % -18.7 %
FY2010/1Q Change
FY2011/1Q
■しかく
■しかく Explanation of Ordinary Expenses (Non
Explanation of Ordinary Expenses (Non-
-Consolidated)
Consolidated) ■しかく
■しかく【【 Fuel
Fuel,
, Purchased Power
Purchased Power 】】6
<Explanations> Change <Explanations> Change
20.0 8.0
2. Rise in fuel prices 8.6
◆だいやまーくEffect of rise in fuel prices 12.4
Reference: All Japan CIF prices
・ Accommodations from
other power company2.5 ・Crude oil (115← 81$/b, 34$/b vs. FY2010/1Q)
・Coal (133 ← 105$/t, 28$/t vs. FY2010/1Q)
・LNG (691← 563$/t, 128$/t vs. FY2010/1Q)
◆だいやまーくEffect of exchange rate (high-yen) -3.8
Reference: Interbank Rate
・Exchange rate ( 82← 92yen/$、 10yen/$ higher vs. FY2010/1Q)
・Increase in purchases
of thermal power from
other companies5.5 1. Impact of delayed resumption
of operations at nuclear power
stations
1. Impact of delayed resumption
of operations at nuclear power
stations
Purchased Power27.436.0
25.1 29.139.20.010.020.030.040.050.0FY2007/1Q FY2008/1Q FY2009/1Q FY202010/1Q FY2011/1Q
(Bil. Yen)Fuel53.174.051.056.785.50.020.040.060.080.0100.0
FY2007/1Q FY2008/1Q FY2009/1Q FY202010/1Q FY2011/1Q
(Bil. Yen)
(Units: Billions of yen, %)
FY2011/1Q FY2010/1Q Change vs. FY2010/1Q
Fuel 85.5 56.7 28.8 150.9
(Units: Billions of yen, %)
FY2011/1Q FY2010/1Q Change vs. FY2010/1Q
Purchased
Power
39.2 29.1 10.0 134.5
For more information, please contact:
For more information, please contact:
Investor Relations Group
Investor Relations Group
Corporate Planning Division
Corporate Planning Division
KYUSHU ELECTRIC POWER CO., INC.
KYUSHU ELECTRIC POWER CO., INC.
Telephone
Telephone : +81 92 726 1575
: +81 92 726 1575
Facsimile
Facsimile : +81 92 733 1435
: +81 92 733 1435URLURL : http://
: http://www.kyuden.co.jp/en_ir_index
www.kyuden.co.jp/en_ir_index