Chairperson President
Message from the Chairperson and the President Interview with the President
Section 1
Kyushu Electric Power Summary
Section 2
Management Message
Section 4
Management Base
Section 5
Financial Information
Section 3
Special Report
7/76 Kyushu Electric Power Company Annual Report 2014
I would like to begin by expressing my gratitude to our shareholders and investors for their support.
As a result of all of our nuclear power plants remaining closed and the continuation of tight supply
and demand conditions, as well as the rapid deterioration of our balance of revenues and expenses,
and consequently our financial condition, we raised our rates, effective from April 2013. Despite the
rate hike, our consolidated operating revenues for the year ended March 31, 2014, were marked by an
ordinary loss of 131円.4 billion and a net loss of 96円 billion.
Taking such results into consideration, it is with deep regret that we must refrain from providing a
dividend for fiscal 2013. We would like to offer our humblest apologies to our shareholders.
Our efforts to restart our nuclear power plants, which is a priority issue for us, included applying
in July 2013 for permission for a change in reactor installation license at Sendai (Units 1 & 2) and
Genkai (Units 3 & 4). Subsequently, in April and June 2014 we submitted supplements to our applica-
tion, which pertain to items indicated in inspections of Sendai Units 1 & 2, to the Nuclear Regulation
Authority. The authority on July 16 acknowledged and announced that the inspection proposal in
the application is in line with the new regulatory standards. Next, a call was put out for scientific and
technical opinions concerning the inspection proposal during the 30-day period from July 17 through
August 15. We will continue to make an all-out companywide effort to deal with the national govern-
ment’s inspections of nuclear facilities, with the goal of restarting our reactors, including Genkai (Units
3 & 4), as soon as possible.
Given that we have posted a net loss for three consecutive fiscal years and that our equity ratio
(non-consolidated) has fallen to 8.1%, in order to stabilize operations by increasing equity capital we
deemed it necessary to issue 1,000 shares of Class A preferred stock for 100円 billion to the Develop-
ment Bank of Japan Inc. by way of third-party allotment, effective August 1, 2014.
Kyushu Electric Power will continue to do its utmost to make operations as efficient as possible
while ensuring a stable supply of electric power. Furthermore, we aim to maintain public trust by re-
sponding directly to customer concerns about nuclear power safety and electricity rates.
We ask for the understanding and support of all our shareholders and investors as we move to-
ward our goals.
August 2014
Message from the Chairperson and the President Interview with the President
Section 1
Kyushu Electric Power Summary
Section 2
Management Message
Section 4
Management Base
Section 5
Financial Information
Section 3
Special Report
8/76 Kyushu Electric Power Company Annual Report 2014