1 Overview of the Kyuden Group 2 Value Creation Story 3 Strategy and Performance 4 Creating Value through Business 5 A Foundation for Creating Value 6 Data Section
Table of
Contents 91
KYUDEN GROUP INTEGRATED REPORT 2023
Consolidated Eleven-year Financial Summary Kyushu Electric Power Company, Incorporated and Consolidated Subsidiaries
Years Ended March 31
Millions of Yen Thousands of U.S.Dollars
For the Year: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2022
Operating revenues: 1,545,919円 1,791,152 1,873,467 1,835,692 1,827,524 1,960,359 2,017,181 2,013,050 1,521,977 1,743,310 2,221,300 16,633,973ドル
Electric 1,406,218 1,633,023 1,719,570 1,688,328 1,681,066 1,804,418 1,844,850 1,800,189 1,284,207 1,486,155 1,946,737 14,577,936
Other 139,700 158,129 153,897 147,364 146,458 155,940 172,331 212,860 237,770 257,154 274,563 2,056,036
Operating income (loss) (299,428) (95,821) (43,314) 120,256 122,640 103,123 86,575 63,813 76,894 48,624 (72,998) (546,638)
Ordinary income (loss) (331,206) (131,449) (73,693) 90,916 94,234 73,678 52,544 40,052 55,179 32,384 (86,634) (648,751)
Net income (loss) attributable to owners of the parent (332,470) (96,096) (114,695) 73,499 79,270 86,657 30,970 (419) 31,835 6,873 (56,429) (422,563)
Capital expenditure 181,295 257,004 272,880 323,858 310,096 358,953 369,816 421,731 355,894 312,138 306,592 2,295,881
Depreciation and amortization 212,735 202,856 193,972 203,060 215,342 210,455 238,189 261,369 205,749 225,293 221,013 1,655,034
Research and development expenses 8,175 6,423 7,343 6,499 5,817 5,651 5,459 5,525 5,101 4,823 4,798 35,930
Cash flows from operating activities (135,130) (5,922) 88,736 329,491 188,016 355,995 283,020 226,852 253,459 257,811 30,504 228,431
Cash flows from investing activities (176,546) (184,963) (268,413) (288,321) (275,047) (321,751) (364,341) (424,623) (330,587) (320,879) (328,874) (2,462,742)
Free cash flows (311,676) (190,886) (179,676) 41,169 (87,030) 34,243 (81,321) (197,770) (77,127) (63,068) (298,369) (2,234,310)
Cash flows from financing activities 412,248 196,397 310,807 (126,184) 78,380 (90,334) (40,716) 157,999 95,549 79,428 324,770 2,432,011
Dividends paid 9,464 − − − 9,523 17,099 15,349 18,884 17,505 19,872 10,528 78,840
Total equity 557,799 494,232 450,990 499,903 574,577 653,963 665,250 637,957 681,470 676,337 617,230 4,622,064
Total assets 4,526,513 4,549,852 4,784,735 4,748,237 4,587,541 4,710,073 4,794,039 4,948,063 5,128,563 5,342,350 5,603,678 41,962,548
Outstanding interest-bearing debt 2,910,724 3,116,717 3,337,982 3,224,888 3,313,957 3,243,817 3,223,166 3,406,273 3,522,649 3,638,084 3,991,507 29,889,977
Interest charges 37,407 39,429 40,148 39,317 36,008 33,416 31,397 28,990 26,258 25,043 27,936 209,202
Per Share: Yen U.S. Dollars
Basic net income (loss) \(702.98) (203.19) (242.38) 155.17 159.97 175.56 58.05 (6.05) 62.86 10.09 (123.81) $(0.92)
Net assets 1,141.13 1,005.42 692.52 787.01 944.69 1,113.43 1,136.82 1,077.38 1,165.39 1,151.73 1,015.22 7.60
Cash dividends applicable to the year (common share)*1
− − − − 15.00 20.00 30.00 35.00 35.00 40.00 − −
Cash dividends applicable to the year (class A preferred share)*1
− − − − 3,500,000.00 3,500,000.00 3,500,000.00 1,599,452.00 2,100,000.00 2,100,000.00 − −
*1: The cash dividends per share listed are the amounts attributable to recorded earnings for each fiscal year. In addition, the following appropriation funded from other capital surplus as of March 31, 2016 was approved at the General Meeting of Stockholders on June 28, 2016. Dividends per share: Common stock: 5円.00; Class A preferred shares:
7,153,703円.00*2
*2: Including cumulative unpaid Class A preferred shares, each single share equates to 7,153,763円.00.
Note 1: U.S. dollar amounts have been converted from yen for the reader’s convenience at the rate of 133円.54 = U.S.1,ドル the prevailing rate of exchange as of March 31, 2023.
Note 2: Yen figures have been rounded down to the nearest million.
Note 3: The Revised Accounting Standard for Revenue Recognition, etc. and the revised Electricity Business Accounting Regulations have been applied from the beginning of Fiscal 2021, and the figures for Fiscal 2020 have been retroactively adjusted to reflect the said accounting standards.
Consolidated Eleven-year
Financial Summary
1 Overview of the Kyuden Group 2 Value Creation Story 3 Strategy and Performance 4 Creating Value through Business 5 A Foundation for Creating Value 6 Data Section
Table of
Contents 92
KYUDEN GROUP INTEGRATED REPORT 2023
Consolidated Eleven-year
Financial Summary
Key Metrics: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
ROE (%) (47.16) (18.93) (25.29) 16.13 15.38 14.69 4.88 (0.07) 5.04 1.06 (9.19)
ROIC (%) (6.2) (1.8) (0.6) 2.6 2.5 2.0 1.5 1.3 1.5 1.0 (0.9)
Equity ratio (%) 11.92 10.46 9.02 10.11 12.01 13.36 13.34 12.34 12.72 12.08 10.39
Net D/E ratio (%) 539.34 655.42 773.53 671.95 601.48 515.59 504.06 557.82 540.03 563.61 685.75
Dividend payout ratio (%) − − − 3.22 9.38 11.39 51.68 − 55.68 396.43 −
Year-end stock price (yen) 977.00 1,262.00 1,165.00 1,071.00 1,186.00 1,268.00 1,307.00 869.00 1,092.00 817.00 757.00
PER − − − 6.90 7.41 7.22 22.52 − 17.37 80.97 −
PBR 0.86 1.26 1.68 1.36 1.26 1.14 1.15 0.81 0.94 0.71 0.75
Dividend yield (%) − − − 0.47 1.27 1.58 2.30 4.03 3.21 4.90 −
Reference Data:
Electricity sales volume (million kWh) 83,787 84,450 81,279 79,210 82,366 82,740 80,591 80,711 85,823 97,275 95,967
Nuclear power plant utilization rate (%) − − − 20.7 31.9 36.7 73.1 82.0 62.4 91.4 57.7