Fact Book 20201515
For the year ended March 31, 201
For the year ended March 31, 20155Date of issue August, 2015
Contents
Contents
Note:Each year in this Fact Book shows the Fiscal Year ended March 31.
2015 dates from April 1 ,2014 to March 31 ,2015
・ Ratios ‐ 3:
Return on Sales , Interest Coverage Ratios ,
Equity Ratio , D/E Ratio and EBITDA (Consolidated) ・・・・・・・・ 15
・ Ratios ‐ 4:
Return on Sales , Interest Coverage Ratios ,
Equity Ratio , D/E Ratio and EBITDA(Non‐Consolidated) ・・・・・ 16
・ Ratios ‐ 5:BPS ,EPS ,CFPS ,PBR , PER , PCFR ・・・・・・・・・・・・・・・・ 17
・ Ratios ‐ 6:BPS ,EPS ,CFPS ,PBR , PER , PCFR ・・・・・・・・・・・・・・・・ 18
・ Ratios ‐ 7:DPS , Dividend Payout Ratio, Dividend Yield , DOE
(Non‐Consolidated) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 19
・ Consolidated Balance Sheets: Assets ・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 20
・ Consolidated Balance Sheets: Liabilities and Equity ・・・・・・・・・・・・ 21
・ Consolidated Statements of Income ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 22
・ Consolidated Statements of Cash Flows ・・・・・・・・・・・・・・・・・・・・・・・・・・ 23
・ Non‐Consolidated Balance Sheets: Assets ・・・・・・・・・・・・・・・・・・・・・・・・ 24
・ Non‐Consolidated Balance Sheets: Liabilities and Equity ・・・・・・・・ 25
・ Non‐Consolidated Statements of Income ・・・・・・・・・・・・・・・・・・・・・・・・・・ 26
3 Capital Expenditure , Financing
and Rating Information
・ Capital Expenditure(Non‐Consolidated)・・・・・・・・・・・・・・・・・・・・・・・・・ 27
・ Financing (Non‐Consolidated) and Rating Information ・・・・・・・・・・・・ 28
4 Electricity Sales per Employee ・・・・・・・・・・・・・・・・・・・・・・・・・ 29
5 Stock Information
・ Shareholders Breakdown ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 30
・ Stock Price and Trade Volume ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 31
6 Subsidiaries and Affiliated Companies ・・・・・・・・・・・・・・・・・・ 32
1 Electricity Demand and Electric Power Supply
・ Electricity Demand ‐ 1:
Electricity Sales and Number of Contracts ・・・・・・・・・・・・・・・・・・・・ 1
・ Electricity Demand ‐ 2:
Electricity Sales to Large‐scale Industrial Customers ・・・・・・・・ 2
・ Electricity Demand ‐ 3:
All‐electric Housing ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 3
・ Electricity Demand ‐ 4:
Load Factor, Peak Load ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 4
・ Electric Power Supply ‐ 1:
Generating Capacity by Energy Source
(including purchased power) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 5
・ Electric Power Supply ‐ 2:
Electricity Generated and Purchased ・・・・・・・・・・・・・・・・・・・・・・・・・・ 6
・ Electric Power Supply ‐ 3:
Nuclear Power Utilization Rate, Flow Rate,
Thermal Efficiency, Loss Rate ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 7
・ Electric Power Supply ‐ 4:
Reserve Capacity and Reserve Margin ・・・・・・・・・・・・・・・・・・・・・・・・・・ 8
2 Financial Data and Ratios
・ Key Financial Data ‐ 1:
Operating Revenue , Operating Income , Ordinary Income
and Net Income (Consolidated) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 9
・ Key Financial Data ‐ 2:
Operating Revenue , Operating Income , Ordinary Income
and Net Income (Non‐Consolidated) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 10
・ Key Financial Data ‐ 3:
Total Assets , Interest‐Bearing Debt
and Shareholders' Equity (Consolidated) ・・・・・・・・・・・・・・・・・・・・・・ 11
・ Key Financial Data ‐ 4:
Total Assets , Interest‐Bearing Debt
and Shareholders' Equity (Non‐Consolidated) ・・・・・・・・・・・・・・・・・・ 12
・ Ratios ‐ 1:ROE and ROA (Consolidated) ・・・・・・・・・・・・・・・・・・・・・・・・・・ 13
・ Ratios ‐ 2:ROE and ROA (Non‐Consolidated) ・・・・・・・・・・・・・・・・・・・・・・・ 14
Electricity
Electricity Demand
Demand ‒
‒ 11 :: Electricity Sales and Number of Contracts
Electricity Sales and Number of Contracts
Note:The scope of liberalized segment ;
High voltage users, contracts for 500kW or higher (2005)
High voltage users, contracts for 50kW or higher (since 2006)128,241 28,203 29,550 29,254 29,172 31,151 29,990 29,509 29,792 28,518
25,529
6,499 6,045 6,120 5,718 5,545
5,748 5,475 5,204 5,291
48,216 50,151
52,412 50,911 48,675
50,575
49,887 49,074 49,367
27,459
4,867
27,211
47,894
8,471
8,454
8,296 8,359 8,423
8,511 8,552 8,593 8,633 8,709 8,788020,000
40,000
60,000
80,000
100,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
4,000
5,000
6,000
7,000
8,000
9,000
Lighting Power
Liberalized Segment Number of Contracts
(GWh)
(thousand )
(thousand)
83,392 83,787
80,199
82,956
84,399
88,082 85,883 87,474
85,352 84,450
81,279
Electricity
Electricity Demand
Demand ‒
‒ 2
2 : Electricity Sales to Large
: Electricity Sales to Large‐
‐scale Industrial Customers
scale Industrial Customers2 (GWh)
7,075 7,305 7,756 7,749 7,248 6,639 6,884 6,839 6,603 6,455 6,402
5,522 5,710 5,967 5,682 5,236 4,683 4,800 4,733 4,487 4,324 4,281
1,130 1,129 1,266 1,485 1,492 1,486 1,571 1,605 1,620 1,634 1,625
2,544 2,551 2,840 3,089 2,519 1,993 2,268 2,365 2,478 2,725 2,557
1,913 2,116 2,353 2,609 2,630 2,372 2,581 2,631 2,676 2,692 2,677
1,023 1,180 1,332 1,234 1,139 904 976 1,004 989 950 974
1,594 1,673 1,909 2,149 2,196 2,207 2,279 2,311 2,293 2,371 2,339
405 425 320 374 472 450 465 457 431 356 333
935 1,020 1,132 1,665 1,680 1,659 1,878 1,861 1,840 1,692 1,842
5,728 5,921 6,051 6,340 6,140 6,183 6,507 6,476 6,304 6,382 6,295
21,217 22,191 23,693 25,209 24,024 22,407 23,838 23,944 23,614 23,623 23,419
2012 2013
2005 2015201420112010200920072006 2008
Total
Ceramics/CementFoodPaper/Pulp
Nonferrous Metals
Steel
Chemicals
Other
Electric
Transportation
Machinery
Electricity
Electricity Demand
Demand ‒
‒ 3 : All
3 : All‐
‐electric Housing
electric Housing390385480174335144228021952559867437.133.938.044.424.634.421.418.731.840.643.701002003004005006007008009001,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201505101520253035404550The Accumulated Number of All‐electric Housing (thousand households)
The Share of All‐electric Housing to New Housing Construction (%)(%)(thousand households)
Electricity
Electricity Demand
Demand ‒
‒ 4 : Load Factor, Peak Load
4 : Load Factor, Peak Load
Note: Peak Load shows the average power of top three days during summer.4Load Factor (Transmission End)66.264.067.668.262.762.961.762.360.563.060.340.045.050.055.060.065.070.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)Peak Load (Transmission End)
1,698
1,676
1,481
1,601
1,583
1,495
1,693
1,681
1,589
1,609
1,471
1,400
1,450
1,500
1,550
1,600
1,650
1,700
1,750
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(10MW)
Electric
Electric Power Supply
Power Supply ‒
‒ 1 :
1 : Generating Capacity by Energy Source (including purchased power)
Generating Capacity by Energy Source (including purchased power)5169 170 170 175 175 175 173 173
115 115 115 140 200 230 230 230
435 418 418 418 418 420 420 420 406 386
449 449 449 449 449 449 449 449 449 449 449
542 540 540 540 536 536 536 536 486 473 485
21 21 21 21 21 21 21 21
21 21 21
526 526 526 526 526 526 526 526
526 526
173 174173170 2301704185268 8 410500
1,000
1,500
2,000
2,500
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Hydro General Hydro Pumped Stprage Thermal Coal Thermal LNG
Thermal Oil etc Geothermal Nuclear Solar
(10 MW)2%23%1%21%19%17%10%7%
Electric
Electric Power Supply
Power Supply ‒
‒ 2 : Electricity Generated and Purchased
2 : Electricity Generated and Purchased6 (GWh)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2014
6,853 4,527 5,915 4,988 6,500 4,674 5,676 6,602 6,628 5,161 5,887
LNG 16,000 15,889 16,588 16,569 16,518 17,123 19,087 28,414 32,028 33,799 33,252
Thermal Coal 20,029 24,690 25,031 26,564 25,922 25,269 25,571 28,712 27,407 30,080 27,108
Oil etc. 3,621 3,909 4,829 6,641 3,732 3,126 5,427 10,490 17,589 14,852 12,549
39,650 44,488 46,448 49,774 46,172 45,518 50,085 67,616 77,024 78,731 72,909
39,687 39,991 37,836 39,641 38,968 39,079 37,375 14,481 − − −
2,327 2,445 2,506 2,636 2,646 2,748 2,899 3,038 3,325 4,411 6,336
‐135 ‐372 ‐211 ‐283 580 52 182 1,789 3,966 3,557 2,856
‐327 ‐267 ‐250 ‐647 ‐948 ‐541 ‐778 ‐1,033 ‐641 ‐576 ‐205
88,055 90,812 92,244 96,109 93,918 91,530 95,439 92,493 90,302 91,284 87,783
Note: "Thermal" includes Purchased Power
"New Energy" includes Wind, Solar, Geothermal, Biomass and Waste.
Total
Total
Nuclear
New Energy
Used for pumped stprage
Hydro
Power interchanges
Electric
Electric Power Supply
Power Supply ‒
‒ 3 :
3 : Nuclear Power Utilization Rate, Flow Rate, Thermal Efficiency, L
Nuclear Power Utilization Rate, Flow Rate, Thermal Efficiency, Loss Rate
oss Rate7Nuclear Power Utilization Rate0.00.00.031.481.184.884.685.882.186.286.80.020.040.060.080.0
100.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)Flow Rate
100.7
113.281.6103.581.199.776.190.0
105.9
112.886.70.020.040.060.080.0
100.0
120.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)Thermal Efficiency (Generation End)40.840.840.540.941.041.240.840.740.940.840.939.039.540.040.541.041.52005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)Transmission and Diestribution Loss Rate4.74.84.44.75.55.25.15.05.25.45.04.24.44.64.85.05.25.45.65.8
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%) Electric
Electric Power Supply
Power Supply ‒
‒ 4 : Reserve Capacity and Reserve Margin
4 : Reserve Capacity and Reserve Margin8Note: At the average power of top three days during August.3117717325816731317713713925824423.04.911.717.310.019.510.68.18.316.215.20100200300400500
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20150510152025
Reserve Capacity (10MW) Reserve Margin (%)
(10MW) (%)
Key Financial Data
Key Financial Data ‐
‐ 1 :
1 : Operating Revenue ,
Operating Revenue , Operating Income (Loss) , Ordinary Income (Loss) and Net Income
Operating Income (Loss) , Ordinary Income (Loss) and Net Income (Loss) (Consolidated)
(Loss) (Consolidated)9Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen. 0300,000
600,000
900,000
1,200,000
1,500,000
1,800,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Millions of Yen)
‐400,000
‐300,000
‐200,000
‐100,0000100,000
200,000
300,000
400,000
(Millions of Yen)
Operating Income(Loss) (Right) Ordinary Income(Loss) (Right)
Net Income(Loss) (Right) Operating Revenue(Left)
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Operating Revenue 1,408,728 1,401,751 1,408,327 1,482,351 1,524,193 1,444,941 1,486,083 1,508,084 1,545,919 1,791,152 1,873,467
Operating Income(Loss) 213,734 171,284 155,172 105,540 84,723 99,727 98,908 (184,854) (299,428) (95,821) (43,314)
Ordinary Income(Loss) 159,960 125,279 118,580 72,372 50,459 67,610 66,747 (213,534) (331,206) (131,449) (73,693)
Net Income(Loss) 89,288 76,849 65,967 41,726 33,991 41,812 28,729 (166,390) (332,470) (96,096) (114,695)
Key Financial Data
Key Financial Data ‐
‐ 2 :
2 : Operating Revenue , Operating Income (Loss) , Ordinary Income (L
Operating Revenue , Operating Income (Loss) , Ordinary Income (Loss) and Net Income
oss) and Net Income (Loss) (Non
(Loss) (Non‐
‐Consolidated)
Consolidated)10Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen. 0300,000
600,000
900,000
1,200,000
1,500,000
1,800,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Millions of Yen)
‐500,000
‐400,000
‐300,000
‐200,000
‐100,0000100,000
200,000
300,000
400,000
500,000
(Millions of Yen)
Operating Income(Loss) (Right) Ordinary Income(Loss) (Right)
Net Income(Loss) (Right) Operating Revenue(Left)
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Operating Revenue 1,333,160 1,329,434 1,333,037 1,392,059 1,430,161 1,339,807 1,387,517 1,406,770 1,448,876 1,682,994 1,761,275
Operating Income(Loss) 201,574 159,634 143,799 93,962 74,816 84,910 85,073 (195,722) (305,812) (112,237) (59,380)
Ordinary Income(Loss) 152,922 114,197 105,778 60,070 38,764 50,356 54,103 (228,538) (339,959) (137,267) (93,080)
Net Income(Loss) 89,385 69,136 59,236 35,683 26,916 28,307 20,443 (174,983) (338,050) (90,939) (119,010)
Key Financial Data
Key Financial Data ‐
‐ 33 :: Total Assets , Interest
Total Assets , Interest‐
‐Bearing Debt and Shareholders' Equity (Consolidated)
Bearing Debt and Shareholders' Equity (Consolidated)11Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen. 01,000,000
2,000,000
3,000,000
4,000,000
5,000,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Millions of Yen)
Total Assets Interest‐Bearing Debt Shareholders' Equity(=Equity ‐ Minority Interests)
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Total Assets 4,049,713 4,102,319 4,038,838 4,059,775 4,110,877 4,054,192 4,185,460 4,428,093 4,526,513 4,549,852 4,784,735
Interest‐Bearing Debt 2,139,454 2,104,986 2,031,769 2,040,076 2,110,663 2,004,774 2,089,417 2,483,261 2,910,724 3,116,717 3,337,982
Shareholders' Equity
(=Equity ‐ Minority Interests)
979,251 1,052,785 1,081,633 1,067,046 1,054,732 1,071,792 1,062,458 870,396 539,684 475,533 431,528
Key Financial Data
Key Financial Data ‐
‐ 44 :: Total Assets , Interest
Total Assets , Interest‐
‐Bearing Debt and Shareholders' Equity (Non
Bearing Debt and Shareholders' Equity (Non‐
‐Consolidated)
Consolidated)12Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen. 01,000,000
2,000,000
3,000,000
4,000,000
5,000,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Millions of Yen)
Total Assets Interest‐Bearing Debt Shareholders' Equity
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Total Assets 3,806,567 3,857,316 3,790,112 3,784,701 3,834,124 3,776,569 3,890,891 4,110,950 4,201,704 4,218,037 4,390,912
Interest‐Bearing Debt 1,999,166 1,975,163 1,912,335 1,915,967 1,989,616 1,894,477 1,968,135 2,360,133 2,789,017 2,983,816 3,168,240
Shareholders' Equity 929,356 995,662 1,018,803 999,678 981,539 984,109 967,515 766,700 429,287 341,405 322,299
Ratios
Ratios ‐
‐ 1 : ROE and ROA (Consolidated)
1 : ROE and ROA (Consolidated) 139.457.566.173.883.203.932.69
‐0.64
‐18.93
‐47.16
‐25.29
‐17.22
‐4.63
‐1.462.441.67 1.33 1.56 1.53
‐2.742.693.35
‐2.462.19‐2.12
‐7.43
‐3.861.031.621.890.831.020.70
‐50
‐25
‐20
‐15
‐10‐50510
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)ROE : Net Income/Average Equity at beginning and ending of Fiscal Year
ROA : After‐Tax Operating Income/Average Total Assets at beginning and ending of Fiscal Year
ROA : Net Income/Average Total Assets at beginning and ending of Fiscal Year
Ratios
Ratios ‐
‐ 2 : ROE and ROA (Non
2 : ROE and ROA (Non‐
‐Consolidated)
Consolidated) 149.987.185.883.542.72 2.88 2.10
‐35.86
‐20.18
‐56.53
‐23.60
‐0.963.362.66
‐3.131.421.431.251.592.40‐1.85
‐5.10
‐2.762.330.530.740.71
1.80 1.550.94‐4.37
‐8.13
‐2.16
‐60
‐35
‐30
‐25
‐20
‐15
‐10‐50510
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)ROE : Net Income/Average Equity at beginning and ending of Fiscal Year
ROA : After‐Tax Operating Income/Average Total Assets at beginning and ending of Fiscal Year
ROA : Net Income/Average Total Assets at beginning and ending of Fiscal Year
Ratios
Ratios ‐
‐ 3 :
3 : Return on Sales , Interest Coverage Ratios , Equity Ratio , D/E
Return on Sales , Interest Coverage Ratios , Equity Ratio , D/E Ratio and EBITDA (Consolidated)
Ratio and EBITDA (Consolidated)15EV : Market Capitalization + Interest -
Bearing Debt - Cash and Cash Equiv alents
EBITDA : Operating Income +
Depreciation + Loss on Nuclear Fuel
Return on Sales
(Operating Income/Operating Revenue)
-2.31
7.12 6.90
-5.35
-12.26
15.17
12.22
11.025.566.66
-19.37-24-18-12-6061218
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)Interest Coverage Ratio
((Operating Income+Interest and Dividend
Income)/Interest Expenses)
-0.924.14-5.253.022.954.342.53
-7.75
-2.262.964.22-9-6-3036
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)
Interest Coverage Ratio
(Net Cash Provided by Operating Activities
/Payment of Interest)2.21-0.158.746.477.039.867.926.99
-3.570.508.36-6-30369122005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)
Equity Ratio
25.38
19.66
11.92
10.45
26.44
25.66
26.28
26.78
24.18
25.669.02481216202428322005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)Debt/Equity Ratio
773.53
200.11
196.66
285.30
187.05
191.19
187.84
199.94
539.34
655.42
218.481002003004005006007008009001000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)EV/EBITDA6.659.117.807.649.038.74 8.14
46.37
-34.54
31.11
22.39-50050100150200
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)
Ratios
Ratios ‒
‒ 4 :
4 : Return on Sales , Interest Coverage Ratios , Equity Ratio , D/E
Return on Sales , Interest Coverage Ratios , Equity Ratio , D/E Ratio and EBITDA (Non
Ratio and EBITDA (Non‐
‐Consolidated)
Consolidated)16EV : Market Capitalization + Interest -
Bearing Debt - Cash and
Cash Equiv alents
EBITDA : Operating Income +
Depreciation + Loss on Nuclear Fuel
EV/EBITDA
6.99 10.188.358.629.809.669.25-23.31
54.04
30.90-50050100150200
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)
175.22
Interest Coverage Ratio
(Net Cash Provided by Operating Activities
/Payment of Interest)8.33-0.54
-4.796.427.609.276.576.298.36
-0.631.24-6-3036912
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)
Debt/Equity Ratio
215.11
873.98
649.69
198.38 187.70
191.66 192.51
307.83
203.42
202.70
983.011002003004005006007008009001000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)Interest Coverage Ratio
((Operating Income+Interest and Dividend
Income)/Interest Expenses)4.212.84
-2.48
-8.432.374.37 2.70 2.81
-5.894.10-1.38-9-6-3036
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)
Equity Ratio
24.87
18.65
10.228.0926.06
25.60
26.41
26.88
24.41
25.817.34481216202428322005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)Return on Sales
(Operating Income/Operating Revenue)
-21.116.135.23
10.79
12.01
15.12
-13.91
-6.676.346.75
-3.37-24-18-12-6061218
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%) Ratios
Ratios ‐
‐ 5 :
5 : BPS
BPS ,
,EPS
EPS ,
,CFPS
CFPS ,
,PBR
PBR ,
,PER
PER ,
,PCFR (Consolidated)
PCFR (Consolidated)17BPS
692.52
1,005.42
1,141.13
1,840.37
2,246.30
2,265.59
2,229.13
2,255.17
2,285.86
2,223.21
2,067.540500
1,000
1,500
2,000
2,500
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Yen)EPS-242.38
71.84
88.38
-702.98
-351.80
88.19
187.91
161.67
139.37
-203.19
60.73-800-40001002002005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Yen)CFPS560.00
225.73
576.35
582.16
602.34
-253.17
647.38
555.66
146.25
695.82
167.53-400-20002004006008002005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Yen)PBR1.680.640.720.900.991.081.100.861.471.191.260.50.70.91.11.31.51.71.9
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)PER27.61
24.04
30.76
23.03
12.13
16.42
26.7605101520253035402005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times) PCFR3.284.10 4.22 3.955.598.062.923.506.955.560369212005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)
PER cannot be calculated f or FY2012 to FY2015 due to minus of EPS. PCFR cannot be calculated f or FY2013 due to minus of CFPS.
Ratios
Ratios ‐
‐ 6 :
6 : BPS
BPS ,
,EPS
EPS ,
,CFPS
CFPS ,
,PBR
PBR ,
,PER
PER ,
,PCFR (Non
PCFR (Non‐
‐Consolidated)
Consolidated)18BPS
461.61
721.45
907.13
1,620.09
2,044.29
2,079.04
2,073.23
2,111.37
2,151.63
2,101.48
1,961.190500
1,000
1,500
2,000
2,500
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Yen)EPS188.33
145.64
125.07
75.37
59.80
43.19
56.85
-251.32
-192.17
-714.33
-369.74-800-40001002002005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Yen)CFPS469.20
172.00
492.17 475.39
524.11
-333.59
567.21
461.47
57.40
632.60
96.53-400-20002004006008002005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Yen)PER37.62
18.23
12.11
34.03
38.87
26.79
32.3105101520253035402005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)PBR1.751.261.561.081.16 1.15
1.07 0.980.790.732.520.51.01.52.02.53.02005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)PCFR4.68 4.95 4.713.606.39
12.074.283.52
20.547.34036921
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Times)
PCFR cannot be calculated f or FY2013 due to minus of CFPS.
PER cannot be calculated f or FY2012 to FY2015 due to minus of EPS.
Ratios
Ratios ‐
‐ 7 :
7 : DPS
DPS ,
,Dividend Payout Ratio
Dividend Payout Ratio,
,Dividend Yield
Dividend Yield,
,DOE (Non
DOE (Non‐
‐Consolidated)
Consolidated)19Dividend Payout Ratio
41.20
138.91
100.34
79.61
105.54
31.86 47.970204060801001201401602005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)DPS
60 60 60 60 60 60 60500 0 00204060802005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(Yen)
Dividend Yield0.002.953.690.004.240.001.792.262.632.712.460123452005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%)DOE0.002.732.912.892.812.872.822.950.003.170.000123452005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(%) Dividend Payout Ratio cannot be calculated for
FY2012 to FY2015 due to minus of EPS.
Consolidated Balance Sheets: Assets
Consolidated Balance Sheets: Assets20Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Property:
Utility plant and equipment 7,901,162 7,960,886 7,974,138 8,180,481 8,271,316 8,322,610 8,460,694 8,613,650 8,666,664 8,661,963 8,707,841
Other plant and equipment 699,597 721,500 748,595 786,519 852,363 890,975 906,448 948,574 961,684 1,006,683 984,819
Construction in progress 290,547 303,045 315,860 229,448 212,169 247,077 247,836 184,857 220,817 329,749 431,741
Total 8,891,307 8,985,431 9,038,594 9,196,449 9,335,849 9,460,664 9,614,979 9,747,082 9,849,166 9,998,396 10,124,402
Less‐
Contributions in aid of construction 127,807 132,713 137,826 143,094 148,728 150,818 157,207 160,083 160,700 163,824 173,124
Accumulated depreciation 5,462,760 5,634,736 5,760,567 5,944,062 6,106,673 6,272,791 6,424,646 6,589,765 6,747,352 6,893,429 6,943,649
Total 5,590,567 5,767,449 5,898,394 6,087,156 6,255,402 6,423,609 6,581,854 6,749,849 6,908,052 7,057,253 7,116,774
Net property 3,300,739 3,217,981 3,140,200 3,109,292 3,080,446 3,037,054 3,033,125 2,997,232 2,941,114 2,941,142 3,007,628
Nuclear fuel: 243,175 234,358 240,662 250,845 264,205 269,663 263,380 267,124 278,941 281,522 280,616
Investments and other assets:
Investment securities 114,096 160,311 146,408 109,279 82,988 87,236 113,188 114,698 122,388 85,275 85,178
Investments in and advances to nonconsolidated
subsidiaries and affiliated companies 54,631 58,863 61,911 54,552 69,618 75,946 98,105 101,212 103,813 102,311 102,960
Reserve funds for reprocessing of irradiated nuclear fuel 60,134 70,082 104,739 136,011 167,769 197,273 220,293 240,155 261,058 282,071
Assets for retirement benefits 239 14,925
Deferred tax assets 115,328 103,386 104,895 115,151 117,743 119,708 136,027 178,753 176,988 146,426 127,072
Other 20,820 24,926 25,655 28,912 34,404 18,851 14,523 15,351 20,186 29,229 25,266
Total investments and other assets 304,878 407,622 408,953 412,634 440,766 469,513 559,118 630,309 663,534 624,541 637,475
Current assets:
Cash and cash equivalents 42,830 51,675 50,671 58,766 88,124 68,178 125,988 277,945 379,207 384,769 516,480
Receivables 97,363 109,553 117,094 128,456 126,857 110,591 113,882 135,395 144,428 183,568 199,707
Allowance for doubtful accounts (1,286) (1,462) (1,168) (1,181) (1,286) (1,079) (974) (827) (945) (855) (822)
Inventories,principally fuel 38,682 48,746 49,918 65,114 76,481 63,845 58,620 77,908 73,077 82,559 81,433
Deferred tax assets 15,161 21,443 15,813 15,943 16,284 16,567 17,995 28,202 31,203 33,137 34,068
Prepaid expenses and other 8,167 12,400 16,693 19,902 18,998 19,857 14,323 14,803 15,950 19,466 28,147
Total current assets 200,919 242,356 249,022 287,002 325,459 277,961 329,836 533,427 642,922 702,644 859,015
Total 4,049,713 4,102,319 4,038,838 4,059,775 4,110,877 4,054,192 4,185,460 4,428,093 4,526,513 4,549,852 4,784,735
Consolidated Balance Sheets: Liabilities and Equity
Consolidated Balance Sheets: Liabilities and Equity21Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Long‐term liabilities:
Long‐term debt, less current portion 1,739,660 1,724,178 1,689,106 1,712,949 1,811,744 1,724,972 1,714,429 2,188,601 2,526,729 2,804,896 2,844,538
Liability for retirement benefits 205,434 204,289 177,182 150,512 137,683 141,699 144,687 153,850 163,875 51,237 90,547
Reserve for reprocessing of irradiated nuclear fuel 350,698 353,389 371,814 362,825 366,437 369,219 368,930 358,651 346,913 332,882 322,666
Reserve for decommissioning of nuclear power units 110,505 119,626 126,172 147,529 155,838 164,931
Asset retirement obligations 207,855 211,989 221,025 202,989 207,437
Other 18,327 24,569 24,669 34,630 34,665 32,080 39,485 44,455 40,382 37,831 34,706
Total long‐term liabilities 2,424,626 2,426,053 2,388,945 2,408,448 2,506,368 2,432,904 2,475,388 2,957,548 3,298,927 3,429,837 3,499,896
Current liabilities:
Current portion of long‐term debt 216,421 196,203 199,611 171,616 169,263 174,798 232,081 186,295 243,288 204,144 382,425
Short‐term borrowings and Commercial paper 183,373 184,604 143,050 155,457 133,645 111,886 150,771 118,000 152,532 118,521 119,901
Notes and accounts payable 77,466 83,424 82,964 113,160 92,156 99,838 117,302 151,330 151,460 167,725 160,392
Accrued income taxes 35,471 21,048 12,063 4,289 3,220 21,343 18,737 2,585 2,197 3,448 4,453
Accrued expenses 81,500 86,076 74,321 79,420 86,632 80,398 72,869 83,785 76,038 83,719 98,461
Reserve for loss on business restructuring 1,957
Deferred tax liabilities 100 87 74 66
Other 38,409 40,040 45,190 43,170 47,215 43,956 38,631 39,099 39,873 48,148 66,456
Total current liabilities 632,643 613,354 557,201 567,114 532,133 532,221 630,392 581,197 665,478 625,782 832,156
Reserve for fluctuations in water level: 4,682 90 1,216 4,308 1,692
Minority interests: 8,509 10,124
Equity:
Common stock, authorized, 1,000,000,000 shares;
issued, 474,183,951 shares 237,304 237,304 237,304 237,304 237,304 237,304 237,304 237,304 237,304 237,304 237,304
Capital surplus 31,093 31,093 31,093 31,140 31,146 31,140 31,137 31,133 31,130 31,130 130,344
Retained earnings 675,190 720,036 756,405 769,541 775,130 788,538 788,867 594,080 252,145 174,871 60,175
Unrealized gain on available ‐ for ‐sale securities 36,914 65,831 54,992 28,004 13,099 16,382 11,356 12,331 19,212 2,352 4,097
Deferred gain(loss) on derivatives under hedge accounting 3,865 3,331 1,392 1,879 (1,871) (179) 3,747 4,235 596
Foreign currency translation adjustments (271) (305) (183) (281) (1,341) (1,289) (2,003) (1,907) (1,481) (450) (18)
Defined retirement benefit plans 28,429 (305)
Treasury stock ‐at cost (980) (1,175) (1,844) (1,995) (1,999) (2,164) (2,333) (2,366) (2,373) (2,340) (666)
Minority interests 10,967 17,165 17,642 17,273 17,220 17,735 18,114 18,699 19,462
Total Equity 979,251 1,052,785 1,092,600 1,084,212 1,072,374 1,089,066 1,079,679 888,131 557,799 494,232 450,990
Total 4,049,713 4,102,319 4,038,838 4,059,775 4,110,877 4,054,192 4,185,460 4,428,093 4,526,513 4,549,852 4,784,735
Consolidated Statement
Consolidated Statements of Income
s of Income22Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Operating revenues:
Electric 1,320,581 1,311,995 1,307,737 1,363,423 1,398,577 1,310,085 1,354,204 1,367,610 1,406,218 1,633,023 1,719,570
Other 88,146 89,755 100,590 118,927 125,616 134,856 131,878 140,474 139,700 158,129 153,897
Total operating revenues 1,408,728 1,401,751 1,408,327 1,482,351 1,524,193 1,444,941 1,486,083 1,508,084 1,545,919 1,791,152 1,873,467
OPERATING EXPENSES :
Electric 1,107,744 1,140,797 1,155,413 1,260,615 1,317,216 1,220,536 1,261,425 1,562,055 1,715,262 1,746,890 1,779,711
Other 87,249 89,669 97,741 116,195 122,254 124,677 125,748 130,883 130,085 140,083 137,070
Total operating expenses 1,194,993 1,230,466 1,253,154 1,376,811 1,439,470 1,345,214 1,387,174 1,692,939 1,845,347 1,886,974 1,916,782
Operating Income 213,734 171,284 155,172 105,540 84,723 99,727 98,908 (184,854) (299,428) (95,821) (43,314)
Other Expenses (Income):
Interest charges 49,522 41,129 38,354 36,937 35,770 35,292 34,025 34,025 37,407 39,429 40,148
Gain on sales of fixed assets (26,173) (2,484)
Gain on sales of investment securities (5,400) (2,276) (5,524)
Gain on contribution of securities to retirement benefit trust (21,711)
Loss on discontinued operations
Loss on impairment of fixed assets 10,500 5,602
Loss on business restructuring 9,171
Loss on adjustment for changes of accounting standard
for asset retirement obligations 18,428
Gain on negative goodwill (2,592)
Other‐net 4,251 4,875 (1,761) (3,769) (1,506) (3,175) 411 (2,752) (5,629) (3,800) (9,768)
Total other expenses ‐ net 64,274 55,176 42,194 33,168 28,863 32,117 50,590 28,680 31,777 (17,780) 27,894
<Ordinary Income> <159,960> <125,279> <118,580> <72,372> <50,459> <67,610> <66,747> <(213,534)> <(331,206)> <(131,449)> <(73,693)>
Income before income taxes and provision for (reversal of) 149,460 116,107 112,978 72,372 55,859 67,610 48,318 (213,534) (331,206) (78,040) (71,208)
reserve for fluctuations in water level and minority interests
Provision for (reversal of) reserve for fluctuations in water level 2,663 (4,682) 90 (90) 1,216 3,092 (4,308) 1,692
Income before income taxes and minority interests 146,796 120,790 112,887 72,463 55,859 67,610 48,318 (214,750) (334,298) (73,732) (72,901)
Income taxes :
Current 64,052 53,686 38,266 23,829 14,587 29,645 32,106 3,585 3,674 5,131 7,114
Prior years 494
Deferred (6,194) (10,648) 7,808 6,023 6,893 (4,241) (12,860) (52,839) (5,869) 15,655 33,210
Total income taxes 57,857 43,038 46,075 29,853 21,481 25,404 19,245 (48,760) (2,195) 20,786 40,324
Income before minority interests in net income(loss) of
consolidated subsidiaries 88,938 77,751 66,811 42,610 34,377 42,205 29,073 (165,990) (332,102) (94,519) (113,225)
Minority interests in net income(loss) of consolidated subsidia ries 349 (902) (844) (883) (386) (392) (343) (400) (367) (1,576) (1,470)
Net Income 89,288 76,849 65,967 41,726 33,991 41,812 28,729 (166,390) (332,470) (96,096) (114,695)
Consolidated Statement
Consolidated Statements of Cash Flows
s of Cash Flows23Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Cash flows from operating activities:
Income before income taxes and minority interests 146,796 120,790 112,887 72,463 55,859 67,610 48,318 (214,750) (334,298) (73,732) (72,901)
Adjustments for:
Income taxes‐paid (61,495) (68,110) (47,290) (31,369) (15,945) (11,187) (34,741) (20,523) (3,976) (3,965) (5,812)
Depreciation and amortization 264,310 253,439 240,258 253,369 252,430 256,699 259,077 244,470 212,735 202,856 193,972
Decommissioning costs of nuclear power units 7,524 3,106 2,627 1,978 4,293
Provision for(reversal of) reserve for reprocessing of irradiated nuclear fuel 22,797 2,691 18,424 (8,988) 3,611 2,782 (288) (10,279) (11,738) (14,031) (12,770)
Provision for reserve for decommissioning of nuclear power units 5,008 9,121 6,545 21,356 8,309 9,093
Loss on disposal of plant and equipment 8,958 8,352 9,450 8,049 9,537 8,952 8,435 9,784 8,338 6,438 6,643
(Reversal of) provision in reserve for fluctuation in water level (4,308) 1,692
Gain on sales of fixed assets (26,173) (2,484)
Gain on sales of investment securities (5,524)
Gain on contributions of securities to retirement benefit trust (21,711)
Loss on adjustment for changes of accounting standard
for asset retirement obligations 18,428
Increase in reserve funds for reprocessing of irradiated nuclear fuel (60,134) (9,947) (34,657) (31,272) (31,757) (29,503) (23,020) (19,862) (20,902) (21,012)
Increase in trade receivables (40,493) (15,489)
(Increase) decrease in inventories, principally fuel (9,481) 1,125
(Decrease) increase in trade payables (5,534) 1,697
(Decrease) increase in liability for retirement benefits 4,520 (1,145) (27,107) (28,405) (12,829) 4,015 2,986 9,129 10,024 (10,577) (5,823)
Other‐net 28,377 5,917 1,292 15,690 (22,605) 45,229 21,108 18,992 1,019 19,239 15,606
Total adjustments 272,477 150,131 191,627 195,046 191,235 283,827 253,028 231,660 199,167 67,809 161,637
Net cash (used in) provided by operating activities 419,273 270,921 304,514 267,510 247,095 351,437 301,346 16,909 (135,130) (5,922) 88,736
Cash flows from investing activities:
Capital expenditures including nuclear fuel (206,302) (200,110) (202,913) (242,219) (258,529) (235,612) (243,749) (229,351) (183,922) (236,378) (293,944)
Proceeds from sales of fixed assets 27,591 3,137
Payments for investments and advances (8,208) (7,448) (8,685) (8,165) (20,063) (13,295) (64,210) (6,729) (442) (2,966) (679)
Proceeds from sales of investment securities and
collections of advances 13,076 1,519 1,369 7,840 10,246 9,451 8,547 4,204 3,640 14,845 3,181
Other‐net 7,879 8,958 7,417 8,957 8,513 4,106 3,397 3,596 4,177 11,943 19,891
Net cash used in investing activities (193,555) (197,081) (202,811) (233,586) (259,834) (235,350) (296,015) (228,279) (176,546) (184,963) (268,413)
Cash flows from financing activities:
Proceeds from issuance of bonds 99,632 108,824 108,489 139,451 204,379 59,803 129,573 139,736 194,488 139,570
Repayments of bonds (78,627) (74,700) (74,513) (127,710) (100,000) (50,000) (69,950) (150,000) (120,000) (163,842) (99,800)
Proceeds from long‐term bank loans 48,918 92,160 65,990 63,784 61,777 25,230 88,829 657,634 439,967 280,344 275,475
Repayments of long‐term bank loans (148,099) (163,239) (131,930) (83,993) (74,321) (119,323) (103,870) (80,553) (69,296) (76,447) (102,184)
Net increase(decrease) in short‐term borrowings and commercial paper (118,955) 619 (41,721) 11,067 (21,812) (21,758) 38,884 (32,770) 34,531 (34,011) 1,379
Other‐net (23,911) (30,265) (29,105) (28,969) (27,933) (29,924) (30,524) (30,992) (12,690) (4,134) 96,366
Net cash provided by (used in) financing activities (221,042) (66,601) (102,790) (26,370) 42,090 (135,972) 52,942 363,319 412,248 196,397 310,807
Foreign currency translation adjustments on cash and cash equivalents 8 (9) (41) (64) (40) (60) (484) 7 690 51 579
Net increase (decrease) in cash and cash equivalents 4,683 7,230 (1,128) 7,488 29,311 (19,945) 57,789 151,956 101,262 5,561 131,710
Cash and cash equivalents of newly consolidated subsidiaries 195 1,614 124 536
Cash and cash equivalents of a nonconsolidated subsidiary
merged with a consolidated subsidiary 432 69 46 20
Cash and cash equivalents at beginning of year 37,519 42,830 51,675 50,671 58,766 88,124 68,178 125,988 277,945 379,207 384,769
Cash and cash equivalents at end of year 42,830 51,675 50,671 58,766 88,124 68,178 125,988 277,945 379,207 384,769 516,480 NonNon‐‐CCon
onsolidated
solidated Balance Sheets: Assets
Balance Sheets: Assets24Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Property:
Plant and equipment 8,104,312 8,174,756 8,200,752 8,418,654 8,516,920 8,592,419 8,732,410 8,888,533 8,948,491 8,975,468 8,927,999
Construction in progress 291,218 300,424 312,175 207,352 211,661 246,823 245,260 186,647 215,616 310,704 391,725
Total 8,395,530 8,475,180 8,512,927 8,626,006 8,728,582 8,839,243 8,977,671 9,075,180 9,164,108 9,286,172 9,319,725
Less‐
Contributions in aid of construction 124,117 129,087 134,303 138,167 140,908 143,023 149,322 152,162 152,797 155,949 165,254
Accumulated depreciation 5,195,206 5,345,135 5,452,301 5,609,302 5,740,035 5,885,155 6,017,153 6,165,994 6,307,295 6,442,287 6,468,236
Total 5,319,323 5,474,222 5,586,605 5,747,469 5,880,943 6,028,179 6,166,476 6,318,157 6,460,093 6,598,236 6,633,491
Net property 3,076,207 3,000,958 2,926,322 2,878,536 2,847,638 2,811,063 2,811,194 2,757,023 2,704,014 2,687,936 2,686,234
Nuclear fuel: 243,175 234,358 240,662 250,845 264,205 269,663 263,380 267,124 278,941 281,522 280,616
Investments and other assets:
Investment securities 110,174 154,115 136,936 97,336 73,028 76,414 104,138 105,002 113,301 76,994 77,315
Investments in and advances to subsidiaries and
affiliated companies 112,990 120,311 115,895 115,607 130,326 134,056 150,753 151,627 150,372 149,634 184,605
Reserve funds for reprocessing of irradiated nuclear fuel 60,134 70,082 104,739 136,011 167,769 197,273 220,293 240,155 261,058 282,071
Deferred tax assets 98,264 88,645 88,616 97,746 100,100 101,792 117,873 161,466 158,382 141,299 107,187
Other 17,623 14,892 21,879 25,094 31,185 15,771 11,144 12,606 17,701 26,986 33,294
Total investments and other assets 339,052 438,100 433,410 440,523 470,653 495,804 581,184 650,996 679,914 655,973 684,474
Current assets:
Cash and cash equivalents 31,284 37,087 33,972 40,751 70,073 41,680 85,104 231,959 324,155 334,476 466,141
Receivables 76,254 91,814 100,348 105,681 105,425 87,636 90,882 109,314 120,344 153,366 167,633
Allowance for doubtful accounts (1,168) (1,335) (1,012) (946) (781) (710) (595) (511) (512) (519) (452)
Fuel and supplies 24,025 31,956 31,620 42,882 51,799 47,135 39,231 63,160 59,839 67,306 60,005
Deferred tax assets 12,338 15,762 12,922 12,005 12,163 11,440 13,164 24,784 28,283 29,225 30,371
Prepaid expenses and other 5,397 8,614 11,865 14,420 12,946 12,855 7,344 7,097 6,723 8,749 15,887
Total current assets 148,132 183,899 189,717 214,795 251,627 200,037 235,131 435,806 538,834 592,605 739,586
Total 3,806,567 3,857,316 3,790,112 3,784,701 3,834,124 3,776,569 3,890,891 4,110,950 4,201,704 4,218,037 4,390,912 NonNon‐‐CCon
onsolidated
solidated Balance Sheets: Liabilities and Equity
Balance Sheets: Liabilities and Equity25Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Long‐term liabilities:
Long‐term debt, less current portion 1,635,719 1,638,092 1,595,429 1,620,562 1,715,779 1,641,073 1,627,260 2,090,311 2,425,739 2,692,319 2,712,193
Liability for retirement benefits 188,296 187,492 161,531 133,391 120,665 124,224 127,722 136,875 147,341 74,526 69,686
Reserve for reprocessing of irradiated nuclear fuel 350,698 353,389 371,814 362,825 366,437 369,219 368,930 358,651 346,913 332,882 322,666
Reserve for decommissioning of nuclear power units 110,505 119,626 126,172 147,529 155,838 164,931
Asset retirement obligations 207,689 211,840 219,450 201,142 206,113
Other 12,526 13,509 9,124 17,530 17,409 15,758 23,742 19,585 15,700 13,581 17,159
Total long‐term liabilities 2,297,746 2,312,110 2,264,072 2,281,840 2,376,129 2,315,207 2,355,345 2,817,264 3,155,145 3,314,453 3,327,820
Current liabilities:
Current portion of long‐term debt 189,546 163,071 178,904 150,351 148,459 153,929 200,511 164,403 219,011 181,395 344,632
Short‐term borrowings and commercial paper 173,900 174,000 138,000 145,000 129,000 104,600 146,000 111,000 150,000 115,000 115,000
Accounts payable 56,926 64,217 62,611 88,880 69,938 77,446 95,706 130,003 132,333 145,495 131,926
Accrued income taxes 33,921 18,321 9,537 88 1,065 17,907 16,856
Accrued expenses 87,834 94,797 82,440 91,707 97,467 91,519 80,756 92,419 82,448 85,061 104,490
Reserve for loss on financial support for a subsidiary 3,662
Other 32,653 31,473 35,652 27,154 30,524 31,849 28,199 27,942 29,170 35,226 43,050
Total current liabilities 574,782 549,544 507,145 503,182 476,455 477,252 568,030 525,769 612,964 562,179 739,099
Reserve for fluctuations in water level: 4,682 90 1,216 4,308 1,692
Equity:
Common stock, authorized, 1,000,000,000 shares;
issued, 474,183,951 shares 237,304 237,304 237,304 237,304 237,304 237,304 237,304 237,304 237,304 237,304 237,304
Capital surplus : Additional paid‐in capital 31,087 31,087 31,087 31,087 31,087 31,087 31,087 31,087 31,087 31,087 31,087
Capital surplus : Other capital surplus 47 35 29 27 22 19 19 99,309
Retained earnings : Legal reserve 59,326 59,326 59,326 59,326 59,326 59,326 59,326 59,326 59,326 59,326 59,326
Retained earnings : Retained earnings ‐ carryfoward 566,288 604,489 635,164 642,438 640,947 640,849 632,892 429,512 81,997 11,078 (107,931)
Unrealized gain on available ‐ for ‐ sale securities 36,055 64,355 53,547 27,744 13,121 15,481 10,727 11,634 17,826 418 1,062
Deferred gain(loss) on derivatives under hedge accounting 3,944 3,453 1,519 1,997 (1,754) (59) 3,859 4,323 2,564
Treasury stock (707) (901) (1,571) (1,723) (1,803) (1,968) (2,096) (2,129) (2,134) (2,153) (423)
Total Equity 929,356 995,662 1,018,803 999,678 981,539 984,109 967,515 766,700 429,287 341,405 322,299
Total 3,806,567 3,857,316 3,790,112 3,784,701 3,834,124 3,776,569 3,890,891 4,110,950 4,201,704 4,218,037 4,390,912 NonNon‐‐CCon
onsolidated
solidated Statement
Statements of Income
s of Income26Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Operating revenues :
Electric 1,322,995 1,314,393 1,310,169 1,365,701 1,400,792 1,312,103 1,356,317 1,369,537 1,408,339 1,634,829 1,721,869
Other 10,165 15,041 22,867 26,358 29,369 27,704 31,199 37,232 40,536 48,165 39,405
Total operating revenues 1,333,160 1,329,434 1,333,037 1,392,059 1,430,161 1,339,807 1,387,517 1,406,770 1,448,876 1,682,994 1,761,275
Operating expenses:
Electric
Personnel 185,902 178,454 144,806 138,312 136,794 172,720 162,650 167,965 151,844 113,781 113,103
Fuel 143,221 179,744 211,318 279,929 305,600 213,007 284,857 520,282 679,722 754,442 678,486
Purchased power 105,552 113,252 112,602 123,275 149,939 113,668 137,063 206,042 269,582 314,961 372,437
Depreciation 210,385 199,586 189,003 197,342 195,232 196,741 197,977 202,151 180,180 172,333 164,721
Maintenance 158,704 157,369 170,789 184,938 197,806 195,118 175,986 176,007 147,924 103,155 126,641
Reprocessing costs of irradiated nuclear fuel 26,627 31,079 49,858 41,578 34,166 33,787 30,795 21,631 17,352 16,502 17,111
Decommissioning costs of nuclear power units 5,008 9,121 6,545 21,356 8,309 9,093 7,524 3,106 2,627 1,978 4,293
Disposal cost of high‐level radioactive waste 7,726 8,041 8,821 9,125 8,668 10,372 8,885 6,010 3,247 3,861
Disposition of property 14,856 16,407 17,866 16,329 22,877 16,478 15,181 15,334 14,501 10,600 11,491
Taxes other than income taxes 91,846 89,258 87,215 87,107 88,453 87,473 87,680 83,142 82,265 84,339 84,397
Subcontract fee 66,778 64,896 65,657 70,721 74,835 79,226 67,728 65,948 64,485 62,182 74,332
Rent 36,463 36,316 36,514 36,547 35,760 34,333 32,789 31,276 29,298 26,920 25,741
Other 64,599 67,956 64,872 64,815 68,210 67,133 60,598 70,634 77,974 91,384 117,591
Total 1,117,674 1,151,486 1,165,874 1,271,380 1,326,654 1,229,154 1,269,718 1,569,533 1,721,006 1,756,444 1,790,350
Other 13,912 18,313 23,363 26,717 28,690 25,743 32,725 32,959 33,683 38,787 30,304
Total operating expenses 1,131,586 1,169,799 1,189,237 1,298,097 1,355,345 1,254,897 1,302,444 1,602,492 1,754,689 1,795,232 1,820,655
Operating Income 201,574 159,634 143,799 93,962 74,816 84,910 85,073 (195,722) (305,812) (112,237) (59,380)
Other expenses (Income):
Interest charges 46,520 38,444 35,799 34,426 33,444 33,145 32,150 32,266 35,581 38,009 38,693
Gain on sales of fixed assets (27,141) (9,867)
Gain on sales of investment securities (5,400) (2,224) (6,006)
Gain on sales of investments of an affiliated company (2,481)
Gain on contribution of securities to retirement benefit trust (21,711)
Loss on devaluation of investments in subsidiaries and
associated companies
Loss on impairment of fixed assets 6,691 5,602
Loss on financial support for a subsidiary 10,064
Loss on adjustment for changes of accounting standard
for asset retirement obligations 18,325
Other ‐ net 2,131 6,992 2,221 (534) 2,608 1,408 1,043 550 (1,434) (12,979) (4,993)
Total other expenses ‐ net 55,343 55,501 43,623 33,891 30,652 34,553 49,295 32,816 34,146 (32,310) 23,832
<Ordinary Income> <152,922> <114,197> <105,778> <60,070> <38,764> <50,356> <54,103> <(228,538)> <(339,959)> <(137,267)> <(93,080)>
Income before income taxes and provision for (reversal of)
res erve for fluctuations in water level 146,231 104,132 100,175 60,070 44,164 50,356 35,778 (228,538) (339,959) (79,927) (83,213)
Provision for (reversal of) reserve for fluctuations
in water level 2,663 (4,682) 90 (90) 1,216 3,092 (4,308) 1,692
Income before income taxes 143,567 108,815 100,084 60,161 44,164 50,356 35,778 (229,754) (343,051) (75,619) (84,905)
Income taxes :
Current 61,074 49,471 34,101 17,837 10,406 24,619 28,334 64 370 486
Prior years 486
Deferred (6,892) (9,792) 6,746 6,640 6,841 (2,571) (13,000) (55,257) (5,065) 14,949 33,618
Total 54,181 39,678 40,848 24,478 17,247 22,048 15,334 (54,771) (5,001) 15,320 34,105
Net Income 89,385 69,136 59,236 35,683 26,916 28,307 20,443 (174,983) (338,050) (90,939) (119,010)
Capital Expenditure (Non
Capital Expenditure (Non‐
‐Consolidated)
Consolidated)27594 484 383 314 227987797
722 750 8947887044941133 11640500
1,000
1,500
2,000
2,500
2011 2012 2013 2014 2015
Power Generating Facilities
Distribution Facilities
Other
(100 million yen)
1,599
2,285
2,369
1,985
2,197
(100 million yen)
2011 2012 2013 2014 2015
Hydro 152 142 107 69 108
Thermal 166 86 109 110 250
Nuclear 416 456 247 929 776
New Energy 54 20 31 25 30
Subtotal 788 704 494 1,133 1,164
Transmission 465 338 318 331 379
Transformation 178 144 156 136 174
Distribution 344 315 248 283 341
Subtotal 987 797 722 750 894
Administration and Other 255 206 145 92 89
Nuclear Fuel 258 231 195 186 136
Incidental Businesses 81 47 43 36 2
Subtotal 594 484 383 314 227
2,369 1,985 1,599 2,197 2,285
Note: "New Energy" includes Wind, Solar, Geothermal, Biomass and Waste.
Total
Power Generation
Distribution
Other
Financing
Financing (Non
(Non‐‐CConsolidated)
onsolidated) and
and Rating Inform
Rating Informa
ationtion28
Financing(Non‐Consolidated)
(Billions of Yen)
2011 2012 2013 2014 2015
Capital Expenditure 236.9 198.5 159.9 219.7 228.5
Redemption of Debts 257.3 346.0 274.1 367.0 294.5
Total 494.2 544.5 434.0 586.7 523.0
Internal Sources 163.6 -193.5 -268.7 25.5 44.5
Internal Reserve,etc 163.6 -193.5 -268.7 25.5 -55.0
[100.0]
Capital Increase - - - - 99.5
External Funds 330.6 738.0 702.7 561.2 478.5
[At Par] [130.0] [-] [140.0] [195.0] [140.0]
Bonds 129.6 - 139.7 194.4 139.5
Loans 171.0 738.0 530.0 366.8 339.0
Commercial Paper 30.0 - 33.0 - -
Total 494.2 544.5 434.0 586.7 523.0UsesSources
※(注記)Proceeds from issuance of preferred stock[At Par]
Uses(Non-Consolidated)
236.9
198.5
159.9
219.7 228.5
257.3 346.0
274.1
367.0
294.50100200300400500600700
2011 2012 2013 2014 2015
(Billions of Yen)
Redemption of Debts
Capital Expenditure
Sources(Non-Consolidated)
163.6
129.6-139.7
194.4
139.5
171.0 738.0
530.0
339.099.5-193.5
-268.725.5-55.0
366.830.033.0-300-200-1000100200300400500600700800
2011 2012 2013 2014 2015
(Billions of Yen)
Capital Increase
Commercial Paper
Loans
Bonds
Internal Reserve,etc
Rating As of July 31,2015
Rating Agency Long‐Term Debts Short‐Term Debts
Moody'sA3(Seventh grade)‐Rating and Investment Information,Inc.A(Sixth grade)
a‐1
(Second grade)
Japan Credit Rating Agency,Ltd.
AA‐
(Fourth grade)
J‐1+
(Top grade)
※(注記) 61864064066568966468970766663559413,148
12,466
13,186
13,102
12,831
12,689
12,465
12,670
13,074
13,505
12,5535205405605806006206406606807007202005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
12,000
12,200
12,400
12,600
12,800
13,000
13,200
13,400
13,600
Electricity sold per employee(10MW/employee) Number of employees(employee)
Electricity Sales per Employee
Electricity Sales per Employee29(10MW/employee) (employee)
Shareholders Breakdown
Shareholders Breakdown3005/3 06/3 07/3 08/3 09/3 10/3 11/3 12/3 13/3 14/3 15/3
Shares outstanding (1,000 shares) 474,184 474,184 474,184 474,184 474,184 474,184 474,184 474,184 474,184 474,184 474,184
Number of shareholders by ownership (shareholders)
Individuals and others 191,633 192,547 181,771 179,588 180,869 182,288 183,074 179,204 172,548 160,749 161,431
National government and local public organizations 29 29 31 28 35 28 26 26 26 26 26
Financial institutions 225 244 242 239 217 216 207 160 125 108 102
Domestic companies 1,168 1,173 1,187 1,199 1,202 1,196 1,219 1,169 1,121 1,052 1,077
Foreign individuals and companies 365 396 445 437 489 426 413 393 410 451 481
Securities firms 48 48 58 66 56 62 70 69 62 55 71
Others 2 2 2 2 1 1 1 1 1 1 1
Total 193,470 194,439 183,736 181,559 182,869 184,217 185,010 181,022 174,293 162,442 163,189
Percentage of total (%)
Individuals and others 99.05 99.03 98.93 98.91 98.90 98.95 98.95 98.99 98.99 98.95 98.92
National government and local public organizations 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.02
Financial institutions 0.12 0.13 0.13 0.13 0.11 0.11 0.11 0.08 0.07 0.06 0.06
Domestic companies 0.60 0.60 0.65 0.66 0.65 0.64 0.65 0.64 0.64 0.64 0.66
Foreign individuals and companies 0.19 0.20 0.24 0.24 0.26 0.23 0.22 0.21 0.23 0.27 0.29
Securities firms 0.02 0.02 0.03 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.04
Others 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Number of shareholdings by type of shareholder (thousand shares)
Individuals and others 163,066 164,135 152,676 151,101 155,892 164,667 173,363 171,140 169,386 154,408 166,673
National government and local public organizations 4,172 4,165 4,166 4,166 4,168 4,169 4,169 4,168 4,196 4,196 4,196
Financial institutions 220,183 222,475 223,621 216,356 226,107 216,145 209,141 204,613 199,545 201,882 190,881
Domestic companies 30,270 30,291 29,569 29,740 27,568 27,971 29,354 28,099 24,801 22,356 23,005
Foreign individuals and companies 52,439 48,245 58,886 69,265 57,835 55,954 50,889 56,414 72,009 85,880 82,399
Securities firms 3,662 4,360 4,574 2,839 1,865 4,442 6,362 8,811 3,299 4,500 6,838
Others 392 513 692 717 749 836 906 939 948 963 193
Total 474,184 474,184 474,184 474,184 474,184 474,184 474,184 474,184 474,184 474,184 474,184
Percentage of total (%)
Individuals and others 34.39 34.61 32.20 31.87 32.88 34.72 36.56 36.09 35.72 32.56 35.15
National government and local public organizations 0.88 0.88 0.88 0.88 0.88 0.87 0.87 0.87 0.88 0.88 0.88
Financial institutions 46.43 46.92 47.16 45.63 47.68 45.58 44.10 43.15 42.08 42.57 40.25
Domestic companies 6.39 6.39 6.24 6.27 5.81 5.89 6.19 5.92 5.23 4.71 4.85
Foreign individuals and companies 11.06 10.17 12.42 14.61 12.20 11.79 10.73 11.89 15.18 18.11 17.38
Securities firms 0.77 0.92 0.96 0.60 0.39 0.93 1.34 1.85 0.69 0.94 1.44
Others 0.08 0.11 0.14 0.14 0.16 0.17 0.19 0.19 0.20 0.20 0.04
Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Stock Price and Trade Volume
Stock Price and Trade Volume3102040608010012014004/4 05/4 06/4 07/4 08/4 09/4 10/4 11/4 12/4 13/4 14/4 15/4
(Million Shares)0500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
(Yen)
■しかくTrade volume(Million Shares)
Stock price(Yen)
Company Company
Electricity business
1 Kyushu Electric Power Co., Inc.
Electricity Wholesale Business IT and Telecommunication business
2 Tobata Co‐operative Thermal Power Co., Inc. Affiliated Company under Equity Method 57 Kyushu Telecommunication Network Co., Inc. Consolodated Subsidiary
3 Oita Co‐operative Thermal Power Co., Inc. Affiliated Company under Equity Method 58 Kyuden Infocom Company, Inc. Consolodated Subsidiary
Facility Construction and Maintenance 59 Nishimu Electronics Industries, CO., Ltd. Consolodated Subsidiary
4 Kyushu Rinsan Co.,Inc. Consolodated Subsidiary 60 Kyuden Business Solutions Co.,Inc Consolodated Subsidiary
5 Kyuden High Tech Corporation Consolodated Subsidiary 61 RKK Computer Service Co., Ltd. Consolodated Subsidiary
6 Nishinippon Plant Engineering and Construction Co.,Ltd. Consolodated Subsidiary 62 RKKCS Soft Co., Ltd. Subsidiary under Equity Method
7 KYUDEN SANGYO CO .,Inc. Consolodated Subsidiary 63 COARA Co., Ltd. Affiliated Company
8 WEST JAPAN ENGINEERING CONSULTANTS, Inc. Consolodated Subsidiary Environment and Recycling business
9 Nishigi Kogyo Consolodated Subsidiary 64 J‐Re‐Lights Co.,Ltd. Subsidiary under Equity Method
10 Plazwire Co., Ltd. Subsidiary under Equity Method 65 Kyushu Environmental Management Corporation Subsidiary under Equity Method
11 Nishigi Surveying and Design Co., Ltd. Subsidiary under Equity Method Lifestye‐oriented business
12 Kyudenko Corporation Affiliated Company under Equity Method 66 DENKI BLDG. Co., Ltd. Consolodated Subsidiary
13 Nishikyushu Kyodo Kowan Co., Ltd. Affiliated Company under Equity Method 67 Kyuden Good Life Company, Inc. Consolodated Subsidiary
14 Kyuken Corporation Affiliated Company under Equity Method 68 Kyuden Good Life Company, Inc. Kumamoto Consolodated Subsidiary
Equipment and resources suppliers 69 Kyuden Good Life Company, Inc. Fukuoka Josui Consolodated Subsidiary
15 Kyuden Technosystems Corporation Consolodated Subsidiary 70 Kyuden Good Life Company, Inc. Kagoshima Consolodated Subsidiary
16 NISHI NIPPON AIRLINES CO., LTD. Consolodated Subsidiary 71 Kyuden Good Life Company, Inc. Higashi Fukuoka Consolodated Subsidiary
17 Kyushu Kouatsu Concrete Industries Co., Ltd. Consolodated Subsidiary 72 Kyuden Business Front Inc. Consolodated Subsidiary
18 Koyou Denki Kogyo Co.,Ltd. Consolodated Subsidiary 73 Kyuden Fudousan Co.,Ltd Consolodated Subsidiary
19 Kyuhen Co., Ltd. Affiliated Company under Equity Method 74 Kyuden Office Partner Co.,Inc. Consolodated Subsidiary
20 Seishin Corporation Affiliated Company under Equity Method 75 Kyushu Maintenance Co.,Ltd. Consolodated Subsidiary
21 Nishi Nihon Denki Tekkou Co.,Ltd. Affiliated Company under Equity Method 76 Kyushu Highlands Development Co., Ltd. Subsidiary under Equity Method
22 Japan Australia Uranium Resource Development Co.,Ltd. Affiliated Company 77 Kyuden Shared Business Co.,Ltd. Subsidiary under Equity Method
Energy business 78 Q‐caption Center Subsidiary under Equity Method
23 Kyuden International Corporation Consolodated Subsidiary 79 Kyuden Home Security Co., Inc. Subsidiary under Equity Method
24 Oita Liquefied Natural Gas Company, Inc. Consolodated Subsidiary 80 Oak Partners Co.,Ltd. Subsidiary under Equity Method
25 Kitakyushu Liquefied Natural Gas Company Inc. Consolodated Subsidiary 81 Kyushu Housing Guarantee Corporation Affiliated Company under Equity Method
26 Nishinippon Environmental Energy Company, Incorporated Consolodated Subsidiary 82 Ito Golf Culb Affiliated Company
27 Kyuden Mirai Energy Company, Inc. Consolodated Subsidiary 83 Midorigaoka Living Support Affiliated Company
28 Nagashima Windhill Co.,Ltd. Consolodated Subsidiary 84 Capital Kyuden Corporation Consolodated Subsidiary
29 Fukuoka Energy Service Co., Inc. Consolodated Subsidiary
30 Miyazaki Biomass Recycling Co., Ltd. Consolodated Subsidiary
31 Kushima Wind Hill Corporation Consolodated Subsidiary
32 Kyushu Electric Australia Pty Ltd Consolodated Subsidiary
33 Kyushu Electric Weststone Pty Ltd Consolodated Subsidiary
34 Kyuden International Netherlands b.v. Consolodated Subsidiary
35 Kyuden Hsin Tao Power Holdings Co.,Ltd. Consolodated Subsidiary
36 Pacific Hope Shipping Limited Consolodated Subsidiary
37 Washiodake Wind Power Co., Ltd. Subsidiary under Equity Method
38 Munakataasty Solar Power Co.Ltd Subsidiary under Equity Method
39 Amami Oshima Wind Power Co., Ltd. Subsidiary under Equity Method
40 KYUDEN SARULLA PTE.LTD. Subsidiary under Equity Method
41 Kyuden Ilijan Holding Corporation Subsidiary under Equity Method
42 Fukuoka Clean Energy Co., Ltd. Affiliated Company under Equity Method
43 Kyushu Cryogenics Co., Ltd. Affiliated Company under Equity Method
44 Kyushu Tohoku Enrichment Investing SAS Affiliated Company under Equity Method
45 Electricidad Aguila de Tuxpan,S.deR.L.deC.V Affiliated Company under Equity Method
46 Electricidad・Sol de Tuxpan,S.deR.L.deC.V Affiliated Company under Equity Method
47 Kitakyushu LNG Lorry Sales Affiliated Company
48 Biocoal Kumamoto‐South CO.,LTD. Affiliated Company
49 Lion Power Affiliated Company
50 Hsin Tao Power Corporation Affiliated Company
51 Phu My3・BOT・Power・Company Ltd. Affiliated Company
52 Datang China‐Japan(Chifeng)Corporation Affiliated Company
53 Orient Eco Energy Limited Affiliated Company
54 Sarulla Operaion Affiliated Company
55 Pan‐Asian Renewables Privato Limited Affiliated Company
56 Servicios de Negocio de Electricidad en Mexico, S. de R.L. de C.V Affiliated Company
* As of March 31, 2015
Subsidiaries and Affiliated Companies
Subsidiaries and Affiliated Companies32 [Disclaimer]
Information contained here in is provided solely for informational purposes and is not an offer or a
solicitation of an offer to buy or sell securities. You are requested to make investment decisions with
your own judgment.
Although Kyushu Electric Power has made enough effort to ensure the accuracy of information
provided here in, Kyushu Electric Power assumes no responsibility for any damages or liabilities
including, but not limited to, those due to
incorrect information or any problems.
For more information, please contact:
Investor Relations Group
Corporate Planning Division
KYUSHU ELECTRIC POWER CO.,INC
TEL +81 92 726 1575
FAX +81 92 733 1435
URL: http://www1.kyuden.co.jp/en̲ir̲index