Value Creation Story Data
Introduction A Foundation for Creating Value
Strategy and Performance
Independent Auditor’s Report
INDEPENDENT AUDITOR’S REPORT
To the Board of Directors of
Kyushu Electric Power Company, Incorporated:
Opinion
We have audited the consolidated financial statements of Kyushu Electric Power Company, Incorporated
and its consolidated subsidiaries (the "Companies"), which comprise the consolidated balance sheet as of
March 31, 2021, and the consolidated statement of operations, consolidated statement of comprehensive
income, consolidated statement of changes in equity and consolidated statement of cash flows for the
year then ended, and notes to the consolidated financial statements, including a summary of significant
accounting policies, all expressed in Japanese yen.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects,
the consolidated financial position of the Companies as of March 31, 2021, and its consolidated financial
performance and its consolidated cash flows for the year then ended in accordance with accounting
principles generally accepted in Japan.
Convenience Translation
Our audit also comprehended the translation of Japanese yen amounts into U.S. dollar amounts and, in our
opinion, such translation has been made in accordance with the basis stated in Note 1 to the consolidated
financial statements. Such U.S. dollar amounts are presented solely for the convenience of readers outside
Japan.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in Japan. Our
responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit
of the Consolidated Financial Statements section of our report. We are independent of the Companies in
accordance with the provisions of the Code of Professional Ethics in Japan, and we have fulfilled our other
ethical responsibilities as auditors. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Emphasis of Matter
As discussed in Note 2.c to the consolidated financial statements, prior to April 1, 2020, the Companies
had applied the declining-balance method as their principal depreciation method for plant and equipment.
However, the Companies changed their principal depreciation method to the straight-line method for the
year ended March 31, 2021. Our opinion is not modified in respect of this matter.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our
audit of the consolidated financial statements of the current period. These matters were addressed in
the context of our audit of the consolidated financial statements as a whole, and in forming our opinion
thereon, and we do not provide a separate opinion on these matters.
Deloitte Touche Tohmatsu LLC
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Fukuoka-shi, Fukuoka 810-0001
Japan
Tel: +81 (92) 751 0931
Fax: +81 (92) 751 1035
www.deloitte.com/jp/en
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