Kyushu Electric Power Co., Inc.
Stock code: 9508 URL: https://www.kyuden.co.jp/english_index.html Stock listed on: Tokyo SE, Fukuoka SE
Representative: Mr. Kazuhiro Ikebe, President & Chief Executive Officer
Contact: Investor Relations Group, Corporate Strategy Division. Tel: +81-92-726-1575
Quarterly financial report submission date (plan): August 10, 2022
Date to start dividend payments: -
Preparation of supplementary materials for quarterly financial results: Yes
Information meeting for quarterly financial results: No
(Rounded down to the nearest million yen)
1. Consolidated Financial Results for the Three Months (April 1, 2022 to June 30, 2022)
(1) Consolidated Operational Results
(% shows the changes from the same quarter period of the previous FY)
(Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%)
April 1, 2022 - June 30, 2022 436,719 24.8 -46,638 - -47,288 -
April 1, 2021 - June 30, 2021 349,994 4.7 30,457 -2.3 24,067 -9.9
(Note) Comprehensive income : FY2022 1Q -12,555 million yen ( - %) FY2021 1Q 21,514 million yen (44.7%)
(Unit: million yen) (%)
April 1, 2022 - June 30, 2022 -34,811 -
April 1, 2021 - June 30, 2021 15,813 -13.7
(2) Consolidated Financial Position
(Reference) Shareholders' equity : As of June 30, 2022 : 621,882 million yen As of March 31, 2022: 645,497 million yen
2. Dividends
28.93
32.32
-74.75
(Unit: yen)-(Unit: yen)
(Note) Fully-diluted EPS for FY2022 1Q is not indicated because there are no delutive potential shares
(Note) Revision of the devidend forecast : No
The dividends for FY2022 have not been decided yet.We will provide an update as soon as it is possible to
make a sufficiently reliable forecast of the dividends for FY2022.
Dividends mentioned the above are regarding common shares. See 'Dividends for Class Shares' regarding
dividends for class shares which differ in shareholders' right from common shares.
July 29, 2022
Profit attributable to
owners of parent
EPS Fully-diluted EPS
The 1st Quarter of the Fiscal Year Ending March 31, 2023 Financial Results Overview 〔Japan GAAP〕(Consolidated)
Sales Operating profit Ordinary profit
1Q 2Q 3Q Year-end Total
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen)
FY2021 ended March 31, 2022 ― 20.00 ― 20.00 40.00
FY2022 ended March 31, 2023 ―
FY2022 ending March 31, 2023
(forecast)
― ― ― ―
Annual dividends per share
Total assets Net assets Shareholders' equity ratio
(Unit: million yen) (Unit: million yen) (%)
As of June 30, 2022 5,428,835 654,655 11.5
As of March 31, 2022 5,342,350 676,337 12.1
3. Consolidated Financial Results Forecasts for FY2021 (April 1, 2021 to March 31, 2022)
※(注記) Note
(1)Changes in significant subsidiaries : No
(changes in scope of specified subsidiaries)
Newly added: - Excluded: -
(2) Adoption of methods specific in preparing quarterly consolidated financial statements in accounting practice : No
(3) Changes in accounting principles, changes in accounting estimates, restatement
1 Changes in accounting principles in line with revised accounting standards : Yes
2 Changes in accounting principles other than 1 : No
3 Changes in accounting estimates : No
4 Restatement : No
(4) Number of common stocks issued and outstanding
1 Total stocks including treasury stocks at the end of period
FY2022 1Q 474,183,951 shares FY2021 474,183,951 shares
2 Treasury stocks at the end of period
FY2022 1Q 1,465,222 shares FY2021 1,463,267 shares
3 Average number of stocks during the period (Quarter Total)
FY2022 1Q 472,719,403 shares FY2021 1Q 473,023,193 shares
*Quarterly financial results is not the object of quarterly review.
*Notes on the proper use of the forecasts
(Note) The number of our shares regarding "Board Benefit Trust (BBT)" held by the Trust was included in the number of treasury
stocks at the end of period ( 897,000 shares as of FY2022 1Q and 897,000 shares as of FY2021) . In addition, the number
of our shares held by the Trust was included in the number of treasury stocks, which was to be deducated from the calculation
of the average number of stocks during the period. ( 897,000 shares for FY2022 1Q and 603,000 share for FY2021 1Q)
Looking-forward statements are based on information available at the date of the release of this document. Due to various factors, the
actual result may differ from these statements.
We will post supplementary materials for quarterly financial results on our website.
(Note) For details, see "(3) Notes on Quarterly Consolidated Financial Statements :Changes in accounting policies on Page 6.
Both Sales and Ordinary Income have not been decided yet because it is difficult to reasonably
calculate the forecast values due to the extremely uncertain situation in Russia and Ukraine, which
impacts fuel prices and other factors.We will provide an update as soon as it is possible to make a
sufficiently reliable forecast of Financial Results for FY2022.
(Reference) Dividends for Class Shares
(Note 1) Revision of the dividend forecast : No
The breakdown of dividend for class shares which differ in shareholders' rights from common shares is as follows.
(Note 2) The dividends for FY2022 have not been decided yet.We will provide an update as soon as it is possible to make a
sufficiently reliable forecast of the dividends for FY2022.
1Q 2Q 3Q Year-end Total
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen)
FY2021 ended March 31, 2022 ― 1,050,000.00 ― 1,050,000.00 2,100,000.00
FY2022 ended March 31, 2023 ―
FY2022 ending March 31, 2023
(forecast)
― ― ― ― ―
Class A
preferred shares
Annual dividends per share
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 1Q
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○しろまる Table of Contents of Attached Material
1. Quarterly Consolidated Financial Statements and Notes ・・・・・・・・・・・・・・・・・ 2
(1) Quarterly Consolidated Balance Sheets ・・・・・・・・・・・・・・・・・・・・・・ 2
(2) Quarterly Consolidated Income Statements
and Quarterly Consolidated Comprehensive Income Statements ・・・・・・・・・・・・ 4
(3) Notes on Quarterly Consolidated Financial Statements ・・・・・・・・・・・・・・・・ 6
(Notes on the premise of going concern) ・・・・・・・・・・・・・・・・・・・・・ 6
(Notes in case of drastic changes in the amount of equity)・・・・・・・・・・・・・・・ 6
(Changes in accounting policies) ・・・・・・・・・・・・・・・・・・・・・・・・・6
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 1Q
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1. Quarterly Consolidated Financial Statements and Notes
(1) Quarterly Consolidated Balance Sheets
(Unit:million yen)
As of March 31, 2022 As of June 30, 2022
Assets
Non-current assets 4,610,160 4,653,844
Electric utility plant and equipment 2,692,039 2,814,305
Hydroelectric power production facilities 260,131 273,711
Thermal power production facilities 250,797 244,135
Nuclear power production facilities 547,791 541,802
Internal combustion engine power production facilities 21,203 21,021
Renewable power production facilities 22,537 22,024
Transmission facilities 568,024 680,751
Transformation facilities 226,268 234,829
Distribution facilities 655,095 656,374
General facilities 130,080 129,561
Other electric utility plant and equipment 10,110 10,091
Other non-current assets 416,994 418,912
Construction in progress 673,257 563,502
Construction and retirement in progress 538,837 423,065
Special account related to nuclear power decommissioning 39,544 38,419
Special account related to reprocessing of spent nuclear fuel 94,874 102,017
Nuclear fuel 222,399 220,104
Loaded nuclear fuel 36,262 51,658
Nuclear fuel in processing 186,136 168,446
Investments and other assets 605,469 637,019
Long-term investments 246,352 259,134
Retirement benefit asset 26,623 27,152
Deferred tax assets 140,727 152,898
Other 193,114 199,233
Allowance for doubtful accounts △しろさんかく1,348 △しろさんかく1,400
Current assets 732,189 774,990
Cash and deposits 261,660 239,332
Notes and accounts receivable - trade, and contract assets 177,827 168,172
Inventories 101,699 133,235
Other 195,979 237,774
Allowance for doubtful accounts △しろさんかく4,977 △しろさんかく3,522
Total assets 5,342,350 5,428,835
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 1Q
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(Unit:million yen)
As of March 31, 2022 As of June 30, 2022
Liabilities
Non-current liabilities 3,582,972 3,663,696
Bonds payable 1,399,999 1,475,000
Long-term borrowings 1,737,265 1,741,419
Retirement benefit liability 85,946 83,356
Asset retirement obligations 289,103 291,352
Deferred tax liabilities 12,899 17,554
Other 57,758 55,013
Current liabilities 1,075,425 1,102,955
Current portion of non-current liabilities 399,638 440,962
Short-term borrowings 120,810 122,630
Commercial papers - 150,000
Notes and accounts payable - trade 142,614 113,348
Accrued taxes 19,798 10,541
Other 392,564 265,473
Reserves under special laws 7,613 7,528
Reserve for water shortage 7,613 7,528
Total liabilities 4,666,012 4,774,180
Net assets
Shareholders' equity 632,987 587,646
Share capital 237,304 237,304
Capital surplus 120,006 120,006
Retained earnings 277,382 232,042
Treasury shares △しろさんかく1,706 △しろさんかく1,707
Accumulated other comprehensive income 12,509 34,236
Valuation difference on available-for-sale securities 4,104 4,900
Deferred gains or losses on hedges 4,723 19,912
Foreign currency translation adjustment △しろさんかく1,383 4,543
Remeasurements of defined benefit plans 5,066 4,880
Non-controlling interests 30,840 32,773
Total net assets 676,337 654,655
Total liabilities and net assets 5,342,350 5,428,835
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 1Q
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(2) Quarterly Consolidated Income Statements and Quarterly Consolidated Comprehensive Income Statements
(Quarterly Consolidated Income Statements)
(Unit:million yen)
April 1,2021-
June 30, 2021
April 1,2022-
June 30, 2022
Operating revenue 349,994 436,719
Electric utility operating revenue 288,543 381,621
Other business operating revenue 61,451 55,097
Operating expenses 319,536 483,358
Electric utility operating expenses 261,896 432,205
Other business operating expenses 57,640 51,152
Operating profit (loss) 30,457 △しろさんかく46,638
Non-operating income 2,707 6,908
Dividend income 145 199
Interest income 227 274
Gain on sale of goods 282 2,490
Foreign exchange gains - 1,527
Share of profit of entities accounted for using equity method 644 1,037
Other 1,408 1,378
Non-operating expenses 9,098 7,557
Interest expenses 6,169 6,179
Foreign exchange losses 52 -
Other 2,876 1,378
Total ordinary revenue 352,702 443,627
Total ordinary expenses 328,634 490,916
Ordinary profit (loss) 24,067 △しろさんかく47,288
Provision or reversal of reserve for water shortage △しろさんかく31 △しろさんかく85
Reversal of reserve for water shortage △しろさんかく31 △しろさんかく85
Profit (loss) before income taxes 24,098 △しろさんかく47,202
Income taxes - current 1,036 821
Income taxes - deferred 6,798 △しろさんかく13,587
Total income taxes 7,835 △しろさんかく12,766
Profit (loss) 16,262 △しろさんかく34,436
Profit attributable to non-controlling interests 449 374
Profit (loss) attributable to owners of parent 15,813 △しろさんかく34,811
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 1Q
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(Quarterly Consolidated Comprehensive Income Statements)
(Unit:million yen)
April 1,2021-
June 30, 2021
April 1,2022-
June 30, 2022
Profit (loss) 16,262 △しろさんかく34,436
Other comprehensive income
Valuation difference on available-for-sale securities 140 748
Deferred gains or losses on hedges 1,015 12,969
Foreign currency translation adjustment 2,725 4,161
Remeasurements of defined benefit plans, net of tax △しろさんかく26 △しろさんかく219
Share of other comprehensive income of entities accounted for using equity method 1,395 4,221
Total other comprehensive income 5,251 21,881
Comprehensive income 21,514 △しろさんかく12,555
Comprehensive income attributable to
Comprehensive income attributable to owners of parent 21,195 △しろさんかく13,084
Comprehensive income attributable to non-controlling interests 319 529
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 1Q
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(3) Notes on Quarterly Consolidated Financial Statements
(Notes on the premise of going concern)N/A(Notes in case of drastic changes in the amount of equity)N/A(Changes in accounting policies)
We have applied "ASBJ Guidance No. 31 Implementation Guidance on Accounting Standard for Fair Value
Measurement" as of the start of the first quarter of the current fiscal year, beginning April 1st, 2022.
The new accounting policy is applied prospectively in accordance with the transitional treatment as
described in Paragraph 27-2 of the Standard.
The impact of this change is minimal.