Fact Book

Fact Book 20201313
For the year ended March 31, 201
For the year ended March 31, 20133Date of issue August, 2013
Contents
Contents
Note:Fiscal Year ends at March 31.
2013 dates from April 1 ,2012 to March 31 ,2013
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
・ Ratios ‐ 3:
Return on Sales , Interest Coverage Ratios ,
Equity Ratio , D/E Ratio and EBITDA ・・・・・・・・・・・・・・・・・・・・・・・ 15
・ Ratios ‐ 4:BPS ,EPS ,CFPS ,PBR , PER , PCFR ・・・・・・・・・・・・・・・ 16
・ Ratios ‐ 5:DPS , Dividend Payout Ratio, Dividend Yield , DOE ・ 17
・ Consolidated Balance Sheets: Assets ・・・・・・・・・・・・・・・・・・・・・・・・・・・ 18
・ Consolidated Balance Sheets: Liabilities and Equity ・・・・・・・・・・・ 19
・ Consolidated Statements of Income ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 20
・ Consolidated Statements of Cash Flows ・・・・・・・・・・・・・・・・・・・・・・・・・ 21
・ Non‐Consolidated Balance Sheets: Assets ・・・・・・・・・・・・・・・・・・・・・・・ 22
・ Non‐Consolidated Balance Sheets: Liabilities and Equity ・・・・・・・ 23
・ Non‐Consolidated Statements of Income ・・・・・・・・・・・・・・・・・・・・・・・・・ 24
3 Capital Expenditure , Financing
and Rating Information
・ Capital Expenditure(Non‐Consolidated)・・・・・・・・・・・・・・・・・・・・・・・・ 25
・ Financing (Non‐Consolidated) and Rating Information ・・・・・・・・・・・ 26
4 Electricity Sales per Employee ・・・・・・・・・・・・・・・・・・・・・・・・・ 27
5 Stock Information
・ Shareholders Breakdown ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 28
・ Stock Price and Trade Volume ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 29
6 Subsidiaries and Affiliated Companies ・・・・・・・・・・・・・・・・・・ 30
Electricity
Electricity Demand
Demand ‒
‒ 1
1 Electricity Sales and Number of Contracts
Electricity Sales and Number of Contracts
26,305 27,459 28,241 28,203 29,550 29,254 29,172 31,151 29,990 29,509
33,696 33,931
25,529
6,499 6,045 6,120 5,718 5,545
5,748 5,475 5,204
17,032
27,211
48,216 50,151
52,412 50,911 48,675
50,575 49,887
26,249
49,074
16,691
8,633
8,593
8,552
8,511
8,471
8,454
8,296
8,235
8,191
8,359 8,423020,000
40,000
60,000
80,000
100,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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
76,636 77,268
80,199
82,956 84,399
88,082
85,883 87,474
85,352
Note:The scope of liberalized segment ;
Extra‐high voltage users, contracts for 2,000kW or higher (2003,2004)
High voltage users, contracts for 500kW or higher (2005)
High voltage users, contracts for 50kW or higher (since 2006)1Electricity
Electricity Demand
Demand ‒
‒ 2
2 Electricity Sales to Large
Electricity Sales to Large‐
‐scale Industrial Customers
scale Industrial Customers
(GWh)
6,316 6,570 7,075 7,305 7,756 7,749 7,248 6,639 6,884 6,839 6,603
4,955 5,190 5,522 5,710 5,967 5,682 5,236 4,683 4,800 4,733 4,487
982 992 1,130 1,129 1,266 1,485 1,492 1,486 1,571 1,605 1,620
2,653 2,626 2,544 2,551 2,840 3,089 2,519 1,993 2,268 2,365 2,478
1,769 1,739 1,913 2,116 2,353 2,609 2,630 2,372 2,581 2,631 2,676
1,274 1,211 1,023 1,180 1,332 1,234 1,139 904 976 1,004 989
1,579 1,594 1,594 1,673 1,909 2,149 2,196 2,207 2,279 2,311 2,293
415 449 405 425 320 374 472 450 465 457 431
761 847 935 1,020 1,132 1,665 1,680 1,659 1,878 1,861 1,840
5,551 5,548 5,728 5,921 6,051 6,340 6,140 6,183 6,507 6,476 6,304
20,318 20,584 21,217 22,191 23,693 25,209 24,024 22,407 23,838 23,944 23,6142013201120102008 2012
2005 200920072006
2003 2004
Total
Ceramics/CementFoodPaper/Pulp
Nonferrous Metals
Steel
Chemicals
Other
Electric
Transportation
Machinery2Electricity
Electricity Demand
Demand ‒
‒ 3
3 All
All‐
‐electric Housing
electric Housing
(thousand households) (%)52544235113217328021959867474380131.834.424.612.315.421.418.740.643.7 44.438.001002003004005006007008009002003 2004 2005 2006 2007 2008 2009 2010 2011 2012 201305101520253035404550The Accumulated Number of All‐electric Housing (thousand households)
The Share of All‐electric Housing to New Housing Construction (%)3Electricity
Electricity Demand
Demand ‒
‒ 4
4 Load Factor, Peak Load
Load Factor, Peak Load
Load Factor (Transmission End)67.668.262.762.961.762.360.563.060.359.860.440.045.050.055.060.065.070.0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)Peak Load (Transmission End)
1,681
1,698
1,676
1,693
1,495
1,601
1,589
1,609
1,556
1,535
1,481
1,400
1,450
1,500
1,550
1,600
1,650
1,700
1,750
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(10MW)
Note: Peak Load shows the average power of top three days during summer.4Electric
Electric Power Supply
Power Supply ‒
‒ 1
1 Generating Capacity by Energy Source (including purchased power)
Generating Capacity by Energy Source (including purchased power)
169 169 169 170 170 175 175 173
115 115 115 115 170 170 200 230
397 435 418 418 418 418 418 420 420 420480480 449 449 449 449 449 449 449 449 449542542 542 540 540 540 536 536 536 536 4862121 21 21 21 21 21 21 21 2121526526526 526 526 526 526 526 526 526526175 173173140 230115451805001,000
1,500
2,000
2,500
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Hydro General Hydro Pumped Stprage Thermal Coal Thermal LNG
Thermal Oil etc Geothermal Nuclear Solar
(10MW)5Electric
Electric Power Supply
Power Supply ‐
‐ 2
2 Electricity Generated and Purchased
Electricity Generated and Purchased
(GWh)
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Hydro 3,898 4,668 4,737 3,087 3,996 3,545 4,562 3,291 4,051 4,760 4,704
Thermal 30,066 28,899 29,726 31,804 34,925 36,727 34,979 34,191 37,711 52,425 61,221
Nuclear 39,561 41,052 39,687 39,991 37,836 39,641 38,968 39,079 37,375 14,481 ‐
New Energy ‐ ‐ ‐ ‐ ‐ ‐ ‐ 1,459 1,443 1,367 1,368
Other 0 6 6 5 4 5 4 ‐ ‐ ‐ ‐
73,525 74,625 74,156 74,887 76,761 79,918 78,513 78,020 80,580 73,033 67,293
13,680 12,170 14,326 16,405 15,887 17,205 16,423 14,045 15,708 19,167 21,248
‐2,518 ‐1,527 ‐100 ‐213 ‐154 ‐367 ‐70 6 ‐71 1,326 2,402
‐389 ‐339 ‐327 ‐267 ‐250 ‐647 ‐948 ‐541 ‐778 ‐1,033 ‐641
84,298 84,929 88,055 90,812 92,244 96,109 93,918 91,530 95,439 92,493 90,302
Note: "New Energy" includes Wind, Solar, Geothermal, Biomass and Waste.
Total
Own generated power total
Purchased power
Power interchanges
Used for pumped stprage6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 Rate
Thermal Efficiency (Generation End)40.540.840.840.940.840.740.841.241.040.940.539.039.540.040.541.041.52003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)Transmission and Diestribution Loss Rate4.44.75.05.45.55.45.55.25.15.05.24.24.44.64.85.05.25.45.65.8
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)Flow Rate
112.887.4106.9
113.281.6103.581.199.776.190.0
105.90.020.040.060.080.0100.0
120.0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)7
Nuclear Power Utilization Rate0.031.481.184.884.685.882.186.886.285.9 88.90.020.040.060.080.0100.0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)Electric
Electric Power Supply
Power Supply ‒
‒ 4
4 Reserve Capacity and Reserve Margin
Reserve Capacity and Reserve Margin17325816731317713713925824426627411.717.310.019.510.68.18.316.215.217.117.90100200300400500
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130510152025
Reserve Capacity (10MW) Reserve Margin (%)
(10MW) (%)8Note: At the average power of top three days during August.
Key Financial Data
Key Financial Data ‒
‒ 1
1 Operating Revenue ,
Operating Revenue , Operating Income , Ordinary Income and Net Income (Consolidated)
Operating Income , Ordinary Income and Net Income (Consolidated)9Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
213,734
180,014
84,723
171,284
198,965
‐299,428
155,172
105,540 99,727 98,908
‐184,854
125,279
‐331,206
67,610
114,468
159,960
118,580
50,459
88,193
‐213,534
72,372 66,747
‐166,390
‐332,470
41,812
64,319
72,792 76,849
89,288
65,967
41,726 33,991 28,729
1,444,941
1,524,193
1,508,084
1,486,083
1,391,683
1,421,310 1,408,728
1,401,751
1,408,327
1,482,351
1,545,919
400,000
800,000
1,200,000
1,600,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Millions of Yen)
‐400,000
‐300,000
‐200,000
‐100,0000100,000
200,000
300,000
400,000
(Millions of Yen)
Operating Income(Right) Ordinary Income(Right) Net Income(Right) Operating Revenue(Left)
Key Financial Data
Key Financial Data ‒
‒ 2
2 Operating Revenue , Operating Income , Ordinary Income and Net I
Operating Revenue , Operating Income , Ordinary Income and Net Income
ncome (Non
(Non‐
‐Consolidated)
Consolidated)10Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
159,634
143,799
84,910
173,101
93,962
74,816
190,668 201,574
‐305,812
85,073
‐195,722
38,764
90,791
107,930
152,922
114,197
105,778
60,070
50,356 54,103
‐228,538
‐339,959
‐338,050
‐174,983
35,683
26,916 28,307 20,443
62,545 70,118
89,385
69,136 59,236
1,358,608
1,318,336
1,406,770
1,339,807
1,430,161
1,333,037
1,392,059
1,329,434
1,387,517
1,448,876
1,333,160
400,000
800,000
1,200,000
1,600,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Millions of Yen)
‐400,000
‐300,000
‐200,000
‐100,0000100,000
200,000
300,000
400,000
(Millions of Yen)
Operating Income(Right) Ordinary Income(Right) Net Income(Right) Operating Revenue(Left)
Key Financial Data
Key Financial Data ‒
‒ 3
3 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.
4,185,460
4,428,093
979,251
1,052,785
4,038,838
4,102,319
4,049,713
4,114,378
4,204,566
4,059,775 4,054,192
4,526,513
4,110,877
2,503,749
2,004,774
2,110,663
2,104,9862,031,769 2,040,076
2,089,417
2,483,261
2,336,218
2,910,724
2,139,454
1,067,046
1,054,732
1,071,792 1,062,458
870,396
539,684
1,081,633
840,244 910,83701,000,000
2,000,000
3,000,000
4,000,000
5,000,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Millions of Yen)
Total Assets Interest‐Bearing Debt Shareholders' Equity(=Equity ‐ Minority Interests)
Key Financial Data
Key Financial Data ‒
‒ 4
4 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.
861,910 929,356 995,662
3,890,891
4,110,950
4,201,704
3,776,569
3,834,124
3,784,701
3,929,942
3,859,049
3,806,567
3,857,316
3,790,112
1,968,135
1,894,477
2,360,133
1,975,163
1,999,166
2,183,324
2,789,017
1,989,616
1,915,967
1,912,335
2,332,190
429,287
1,018,803
967,515
999,678
766,700
984,109
981,539
796,92301,000,000
2,000,000
3,000,000
4,000,000
5,000,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Millions of Yen)
Total Assets Interest‐Bearing Debt Shareholders' Equity
Ratios
Ratios ‒
‒ 1
1 ROE and ROA (Consolidated)
ROE and ROA (Consolidated)137.56
‐4.637.73‐17.22
8.31 9.453.93‐47.162.696.173.883.20
2.71 3.061.561.331.672.442.693.35
‐2.741.530.831.031.62
1.75 2.19 1.89 1.02 0.70
‐3.861.51‐7.43
‐50
‐25
‐20
‐15
‐10‐50510152003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)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
2 ROE and ROA (Non
ROE and ROA (Non‐
‐Consolidated)
Consolidated)145.887.18‐56.532.883.542.102.727.92‐20.188.459.98
‐5.10
2.80 3.131.431.251.592.402.663.36
‐3.131.42‐8.13
1.58 0.710.941.55
1.80 2.33
1.80 0.740.53‐4.37
‐60
‐25
‐20
‐15
‐10‐50510152003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)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
Ratio and EBITDA15EV/EBITDA
-34.54
6.81 8.747.806.659.117.649.038.14
46.37
6.62 -23.31
175.22
6.99 9.66 9.25
6.84 8.62
10.186.998.359.80-500501001502002003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Times)
Consolidated
Non-Consolidated
Interest Coverage Ratio
(Net Cash Provided by Operating
Activities/Payment of Interest)5.799.868.747.928.367.036.474.766.990.50
-3.57
-0.54
6.57 6.426.298.33 7.609.275.674.698.36
-4.79-6-30369122003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Times)
Consolidated
Non-Consolidated
Debt/Equity Ratio
539.34
187.84
200.11
187.05
191.19
199.94
218.48
256.49
196.66
285.30
297.98
649.69
192.51
203.42
215.11
253.31
292.65
187.70
198.38
191.66
202.70
307.831002003004005006007002003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)Consolidated
Non-Consolidated
Interest Coverage Ratio
((Operating Income+Interest and Dividend
Income)/Interest Expenses)2.604.22
-5.253.024.142.332.962.532.954.34-7.75
-8.432.372.612.704.212.842.372.814.374.10-5.89-9-6-3036
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Times)
Consolidated
Non-Consolidated
Equity Ratio
11.92
22.14
19.98
24.18
25.66
26.78
26.28
19.66
25.38
26.44
25.66
10.22
20.28
22.33
24.41
25.81
25.60
26.41
26.88
26.06
24.87
18.65912151821242730
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)Consolidated
Non-Consolidated
EV : Market Capitalization + Interest -
Bearing Debt - Cash and Cash Equivalents
EBITDA : Operating Income +
Depreciation + Loss on Nuclear Fuel
Return on Sales
(Operating Income/Operating Revenue)6.665.56
11.02
15.17
14.30
12.67 6.90
-12.267.1212.22
-19.376.34-13.916.7514.46
12.746.135.23
12.01
15.12
10.79
-21.11-24-18-12-6061218
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)Consolidated
Non-Consolidated
Ratios
Ratios ‒
‒ 4
4 BPS
BPS ,
,EPS
EPS ,
,CFPS
CFPS ,
,PBR
PBR ,
,PER
PER ,
,PCFRPCFR16BPS1,141.13
1,840.37
2,246.30
2,265.59
2,229.13
2,255.17
2,285.86
2,223.21
2,067.54
1,922.54
1,773.19
907.13
2,073.23
1,620.09
2,044.29
2,079.04
2,111.37
2,151.63
2,101.48
1,961.19
1,818.35
1,681.030500
1,000
1,500
2,000
2,500
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Yen)
Consolidated
Non-ConsolidatedEPS71.84
-351.80
187.91
153.05
135.13
161.67
88.38
60.73
88.19
139.37
-702.98
56.85
131.64
147.65
188.33
145.64
59.80
-369.74
43.19
75.37
125.07
-714.33-8000100200
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Yen)
Consolidated
Non-ConsolidatedCFPS-253.17
719.31
582.16
560.00
704.26
555.66
695.82
576.35
647.38
146.25
602.34
-333.59
654.79
57.40
475.39
469.20 461.47
632.60
637.76
492.17
524.11
567.21-400-20002004006008002003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Yen)
Consolidated
Non-ConsolidatedPER30.76
12.53
12.80
27.61
24.04
12.13
23.03
26.76
16.42
34.03
38.87
13.14
32.31
12.11
12.99
18.23
26.79
37.62051015202530354045
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Times)
Consolidated
Non-ConsolidatedPBR0.860.900.991.081.471.190.980.721.101.000.641.031.081.561.151.070.980.731.051.261.160.790.50.70.91.11.31.51.7
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Times)
Consolidated
Non-ConsolidatedPCFR2.41 2.723.284.105.563.018.062.923.503.954.222.643.604.683.5220.544.284.714.956.390369212003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Times)
Consolidated
Non-Consolidated
PER cannot be calculated for FY2012,FY2013 due to minus of EPS. PCFR cannot be calculated for FY2013 due to minus of CFPS.
Ratios
Ratios ‒
‒ 5
5 DPS
DPS ,
,Dividend Payout Ratio
Dividend Payout Ratio,
,Dividend Yield
Dividend Yield,,DOEDOE17Dividend Payout Ratio
33.86
100.34
105.54
79.61
138.91
41.20
47.97
37.98
31.860204060801001201401602003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)Non-ConsolidatedDPS50 50
60 60 60 60 60 60 605000204060802003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(Yen)
Non-Consolidated
Dividend Yield0.002.462.714.242.953.692.632.612.891.792.260123452003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)Non-ConsolidatedDOE2.912.892.872.812.952.823.172.862.733.000.00012345
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013(%)Non-Consolidated
Dividend Payout Ratio cannot be calculated for FY2012,FY2013 due to minus of EPS.
Consolidated Balance Sheets: Assets
Consolidated Balance Sheets: Assets18Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Property:
Utility plant and equipment 7,802,273 7,935,409 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
Other plant and equipment 648,449 677,363 699,597 721,500 748,595 786,519 852,363 890,975 906,448 948,574 961,684
Construction in progress 329,775 239,624 290,547 303,045 315,860 229,448 212,169 247,077 247,836 184,857 220,817
Total 8,780,498 8,852,397 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
Less‐
Contributions in aid of construction 117,975 125,622 127,807 132,713 137,826 143,094 148,728 150,818 157,207 160,083 160,700
Accumulated depreciation 5,139,250 5,331,920 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
Total 5,257,225 5,457,542 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
Net property 3,523,272 3,394,855 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
Nuclear fuel: 227,988 234,854 243,175 234,358 240,662 250,845 264,205 269,663 263,380 267,124 278,941
Investments and other assets:
Investment securities 83,352 112,605 114,096 160,311 146,408 109,279 82,988 87,236 113,188 114,698 122,388
Investments in and advances to nonconsolidated
subsidiaries and affiliated companies 53,252 54,608 54,631 58,863 61,911 54,552 69,618 75,946 98,105 101,212 103,813
Reserve funds for reprocessing of irradiated nuclear fuel 60,134 70,082 104,739 136,011 167,769 197,273 220,293 240,155
Deferred tax assets 103,700 110,531 115,328 103,386 104,895 115,151 117,743 119,708 136,027 178,753 176,988
Other 20,738 18,481 20,820 24,926 25,655 28,912 34,404 18,851 14,523 15,351 20,186
Total investments and other assets 261,043 296,225 304,878 407,622 408,953 412,634 440,766 469,513 559,118 630,309 663,534
Current assets:
Cash and cash equivalents 45,417 37,519 42,830 51,675 50,671 58,766 88,124 68,178 125,988 277,945 379,207
Receivables 90,645 90,739 97,363 109,553 117,094 128,456 126,857 110,591 113,882 135,395 144,428
Allowance for doubtful accounts (1,280) (1,331) (1,286) (1,462) (1,168) (1,181) (1,286) (1,079) (974) (827) (945)
Inventories,principally fuel 44,740 41,345 38,682 48,746 49,918 65,114 76,481 63,845 58,620 77,908 73,077
Deferred tax assets 9,713 15,020 15,161 21,443 15,813 15,943 16,284 16,567 17,995 28,202 31,203
Prepaid expenses and other 3,024 5,149 8,167 12,400 16,693 19,902 18,998 19,857 14,323 14,803 15,950
Total current assets 192,261 188,443 200,919 242,356 249,022 287,002 325,459 277,961 329,836 533,427 642,922
Total 4,204,566 4,114,378 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
Consolidated Balance Sheets: Liabilities and Equity
Consolidated Balance Sheets: Liabilities and Equity19Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Long‐term liabilities:
Long‐term debt, less current portion 1,984,702 1,858,512 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
Liability for employees ́ retirement benefits 180,324 200,862 205,434 204,289 177,182 150,512 137,683 141,699 144,687 153,850 163,875
Reserve for reprocessing of irradiated nuclear fuel 301,311 327,900 350,698 353,389 371,814 362,825 366,437 369,219 368,930 358,651 346,913
Reserve for decommissioning of nuclear power units 103,863 105,497 110,505 119,626 126,172 147,529 155,838 164,931
Asset retirement obligations 207,855 211,989 221,025
Other 8,201 10,775 18,327 24,569 24,669 34,630 34,665 32,080 39,485 44,455 40,382
Total long‐term liabilities 2,578,402 2,503,547 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
Current liabilities:
Current portion of long‐term debt 277,113 175,379 216,421 196,203 199,611 171,616 169,263 174,798 232,081 186,295 243,288
Short‐term borrowings and Commercial paper 241,935 302,327 183,373 184,604 143,050 155,457 133,645 111,886 150,771 118,000 152,532
Notes and accounts payable 87,893 73,622 77,466 83,424 82,964 113,160 92,156 99,838 117,302 151,330 151,460
Accrued income taxes 33,831 32,355 35,471 21,048 12,063 4,289 3,220 21,343 18,737 2,585 2,197
Accrued expenses 78,697 71,543 81,500 86,076 74,321 79,420 86,632 80,398 72,869 83,785 76,038
Reserve for loss on business restructuring 8,805 988 1,957
Deferred tax liabilities 100 87
Other 49,465 32,879 38,409 40,040 45,190 43,170 47,215 43,956 38,631 39,099 39,873
Total current liabilities 777,740 689,097 632,643 613,354 557,201 567,114 532,133 532,221 630,392 581,197 665,478
Reserve for fluctuations in water level: 2,018 4,682 90 1,216 4,308
Minority interests: 8,178 8,877 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 31,087 31,093 31,093 31,093 31,093 31,140 31,146 31,140 31,137 31,133 31,130
Retained earnings 556,954 608,655 675,190 720,036 756,405 769,541 775,130 788,538 788,867 594,080 252,145
Unrealized gain on available ‐ for ‐sale securities 15,489 34,710 36,914 65,831 54,992 28,004 13,099 16,382 11,356 12,331 19,212
Deferred gain(loss) on derivatives under hedge accounting 3,865 3,331 1,392 1,879 (1,871) (179) 3,747
Foreign currency translation adjustments (211) (271) (305) (183) (281) (1,341) (1,289) (2,003) (1,907) (1,481)
Treasury stock ‐at cost (592) (715) (980) (1,175) (1,844) (1,995) (1,999) (2,164) (2,333) (2,366) (2,373)
Minority interests 10,967 17,165 17,642 17,273 17,220 17,735 18,114
Total Equity 840,244 910,837 979,251 1,052,785 1,092,600 1,084,212 1,072,374 1,089,066 1,079,679 888,131 557,799
Total 4,204,566 4,114,378 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
Consolidated Statement
Consolidated Statements of Income
s of Income20Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Operating revenues:
Electric 1,350,674 1,308,843 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
Other 70,635 82,840 88,146 89,755 100,590 118,927 125,616 134,856 131,878 140,474 139,700
Total operating revenues 1,421,310 1,391,683 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
OPERATING EXPENSES :
Electric 1,170,655 1,108,104 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
Other 70,640 84,614 87,249 89,669 97,741 116,195 122,254 124,677 125,748 130,883 130,085
Total operating expenses 1,241,296 1,192,718 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
Operating Income 180,014 198,965 213,734 171,284 155,172 105,540 84,723 99,727 98,908 (184,854) (299,428)
Other Expenses (Income):
Interest charges 77,896 77,120 49,522 41,129 38,354 36,937 35,770 35,292 34,025 34,025 37,407
Gain on sales of investment securities (23,109) (5,400) (2,276)
Loss on discontinued operations 8,940
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 13,923 7,375 4,251 4,875 (1,761) (3,769) (1,506) (3,175) 411 (2,752) (5,629)
Total other expenses ‐ net 77,651 84,496 64,274 55,176 42,194 33,168 28,863 32,117 50,590 28,680 31,777
<Ordinary Income> <88,193> <114,468> <159,960> <125,279> <118,580> <72,372> <50,459> <67,610> <66,747> <(213,534)> <(331,206)>
Income before income taxes and provision for (reversal of) 102,362 114,468 149,460 116,107 112,978 72,372 55,859 67,610 48,318 (213,534) (331,206)
reserve for fluctuations in water level and minority interests
Provision for (reversal of) reserve for fluctuations in water level 2,018 2,663 (4,682) 90 (90) 1,216 3,092
Income before income taxes and minority interests 102,362 112,450 146,796 120,790 112,887 72,463 55,859 67,610 48,318 (214,750) (334,298)
Income taxes :
Current 52,440 59,383 64,052 53,686 38,266 23,829 14,587 29,645 32,106 3,585 3,674
Prior years 494
Deferred (14,023) (20,297) (6,194) (10,648) 7,808 6,023 6,893 (4,241) (12,860) (52,839) (5,869)
Total income taxes 38,417 39,085 57,857 43,038 46,075 29,853 21,481 25,404 19,245 (48,760) (2,195)
Income before minority interests in net income(loss) of
consolidated subsidiaries 63,945 73,365 88,938 77,751 66,811 42,610 34,377 42,205 29,073 (165,990) (332,102)
Minority interests in net income(loss) of consolidated subsidiaries 373 (573) 349 (902) (844) (883) (386) (392) (343) (400) (367)
Net Income 64,319 72,792 89,288 76,849 65,967 41,726 33,991 41,812 28,729 (166,390) (332,470)
Consolidated Statement
Consolidated Statements of Cash Flows
s of Cash Flows21Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Cash flows from operating activities:
Income before income taxes and minority interests 102,362 112,450 146,796 120,790 112,887 72,463 55,859 67,610 48,318 (214,750) (334,298)
Adjustments for:
Income taxes‐paid (31,072) (61,061) (61,495) (68,110) (47,290) (31,369) (15,945) (11,187) (34,741) (20,523) (3,976)
Depreciation and amortization 301,649 285,770 264,310 253,439 240,258 253,369 252,430 256,699 259,077 244,470 212,735
Decommissioning costs of nuclear power units 7,524 3,106 2,627
Provision for(reversal of) liability for employees' retirement benefits 4,078 18,166 4,520 (1,145) (27,107) (28,405) (12,829) 4,015 2,986 9,129 10,024
Provision for(reversal of) reserve for reprocessing of irradiated nuclear fuel 34,782 26,589 22,797 2,691 18,424 (8,988) 3,611 2,782 (288) (10,279) (11,738)
Provision for reserve for decommissioning of nuclear power units 6,656 1,633 5,008 9,121 6,545 21,356 8,309 9,093
Loss on disposal of plant and equipment 9,248 11,360 8,958 8,352 9,450 8,049 9,537 8,952 8,435 9,784 8,338
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)
Other‐net 31,960 (8,061) 28,377 5,917 1,292 15,690 (22,605) 45,229 21,108 18,992 1,019
Total adjustments 357,302 274,397 272,477 150,131 191,627 195,046 191,235 283,827 253,028 231,660 199,167
Net cash (used in) provided by operating activities 459,665 386,847 419,273 270,921 304,514 267,510 247,095 351,437 301,346 16,909 (135,130)
Cash flows from investing activities:
Capital expenditures including nuclear fuel (266,767) (211,820) (206,302) (200,110) (202,913) (242,219) (258,529) (235,612) (243,749) (229,351) (183,922)
Payments for investments and advances (14,696) (6,228) (8,208) (7,448) (8,685) (8,165) (20,063) (13,295) (64,210) (6,729) (442)
Proceeds from sales of investment securities and
collections of advances 28,871 10,498 13,076 1,519 1,369 7,840 10,246 9,451 8,547 4,204 3,640
Other‐net 8,113 7,718 7,879 8,958 7,417 8,957 8,513 4,106 3,397 3,596 4,177
Net cash used in investing activities (244,479) (199,833) (193,555) (197,081) (202,811) (233,586) (259,834) (235,350) (296,015) (228,279) (176,546)
Cash flows from financing activities:
Proceeds from issuance of bonds 164,308 144,360 99,632 108,824 108,489 139,451 204,379 59,803 129,573 139,736
Repayments of bonds (181,418) (301,215) (78,627) (74,700) (74,513) (127,710) (100,000) (50,000) (69,950) (150,000) (120,000)
Proceeds from long‐term bank loans 51,810 70,798 48,918 92,160 65,990 63,784 61,777 25,230 88,829 657,634 439,967
Repayments of long‐term bank loans (137,597) (143,390) (148,099) (163,239) (131,930) (83,993) (74,321) (119,323) (103,870) (80,553) (69,296)
Net increase(decrease) in short‐term borrowings and commercial paper (93,700) 55,070 (118,955) 619 (41,721) 11,067 (21,812) (21,758) 38,884 (32,770) 34,531
Cash dividends paid (26,070) (23,692) (23,698) (30,779) (28,412) (28,391) (28,412) (28,398) (28,413) (28,408) (9,489)
Other‐net (212) (129) (212) 514 (692) (578) 479 (1,526) (2,111) (2,582) (3,200)
Net cash provided by (used in) financing activities (222,879) (198,198) (221,042) (66,601) (102,790) (26,370) 42,090 (135,972) 52,942 363,319 412,248
Foreign currency translation adjustments on cash and cash equivalents 1 (69) 8 (9) (41) (64) (40) (60) (484) 7 690
Net increase (decrease) in cash and cash equivalents (7,692) (11,253) 4,683 7,230 (1,128) 7,488 29,311 (19,945) 57,789 151,956 101,262
Cash and cash equivalents of newly consolidated subsidiaries 3,356 195 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 53,109 45,417 37,519 42,830 51,675 50,671 58,766 88,124 68,178 125,988 277,945
Cash and cash equivalents at end of year 45,417 37,519 42,830 51,675 50,671 58,766 88,124 68,178 125,988 277,945 379,207NonNon‐‐CCon
onsolidated
solidated Balance Sheets: Assets
Balance Sheets: Assets22Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Property:
Plant and equipment 7,953,808 8,125,156 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
Construction in progress 329,097 234,688 291,218 300,424 312,175 207,352 211,661 246,823 245,260 186,647 215,616
Total 8,282,906 8,359,844 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
Less‐
Contributions in aid of construction 114,413 121,889 124,117 129,087 134,303 138,167 140,908 143,023 149,322 152,162 152,797
Accumulated depreciation 4,909,185 5,087,017 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
Total 5,023,599 5,208,906 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
Net property 3,259,306 3,150,937 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
Nuclear fuel: 227,988 234,854 243,175 234,358 240,662 250,845 264,205 269,663 263,380 267,124 278,941
Investments and other assets:
Investment securities 80,306 108,812 110,174 154,115 136,936 97,336 73,028 76,414 104,138 105,002 113,301
Investments in and advances to subsidiaries and
affiliated companies 113,508 114,802 112,990 120,311 115,895 115,607 130,326 134,056 150,753 151,627 150,372
Reserve funds for reprocessing of irradiated nuclear fuel 60,134 70,082 104,739 136,011 167,769 197,273 220,293 240,155
Deferred tax assets 88,610 92,740 98,264 88,645 88,616 97,746 100,100 101,792 117,873 161,466 158,382
Other 15,584 14,293 17,623 14,892 21,879 25,094 31,185 15,771 11,144 12,606 17,701
Total investments and other assets 298,009 330,648 339,052 438,100 433,410 440,523 470,653 495,804 581,184 650,996 679,914
Current assets:
Cash and cash equivalents 32,144 28,344 31,284 37,087 33,972 40,751 70,073 41,680 85,104 231,959 324,155
Receivables 76,784 73,521 76,254 91,814 100,348 105,681 105,425 87,636 90,882 109,314 120,344
Allowance for doubtful accounts (1,156) (1,141) (1,168) (1,335) (1,012) (946) (781) (710) (595) (511) (512)
Fuel and supplies 26,874 26,172 24,025 31,956 31,620 42,882 51,799 47,135 39,231 63,160 59,839
Deferred tax assets 8,166 12,189 12,338 15,762 12,922 12,005 12,163 11,440 13,164 24,784 28,283
Prepaid expenses and other 1,824 3,523 5,397 8,614 11,865 14,420 12,946 12,855 7,344 7,097 6,723
Total current assets 144,637 142,609 148,132 183,899 189,717 214,795 251,627 200,037 235,131 435,806 538,834
Total 3,929,942 3,859,049 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NonNon‐‐CCon
onsolidated
solidated Balance Sheets: Liabilities and Equity
Balance Sheets: Liabilities and Equity23Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Long‐term liabilities:
Long‐term debt, less current portion 1,854,129 1,744,665 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
Liability for employees ́ retirement benefits 165,051 183,765 188,296 187,492 161,531 133,391 120,665 124,224 127,722 136,875 147,341
Reserve for reprocessing of irradiated nuclear fuel 301,311 327,900 350,698 353,389 371,814 362,825 366,437 369,219 368,930 358,651 346,913
Reserve for decommissioning of nuclear power units 103,863 105,497 110,505 119,626 126,172 147,529 155,838 164,931
Asset retirement obligations 207,689 211,840 219,450
Other 4,220 6,585 12,526 13,509 9,124 17,530 17,409 15,758 23,742 19,585 15,700
Total long‐term liabilities 2,428,575 2,368,414 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
Current liabilities:
Current portion of long‐term debt 245,761 146,758 189,546 163,071 178,904 150,351 148,459 153,929 200,511 164,403 219,011
Short‐term borrowings and commercial paper 232,300 291,900 173,900 174,000 138,000 145,000 129,000 104,600 146,000 111,000 150,000
Accounts payable 72,354 53,992 56,926 64,217 62,611 88,880 69,938 77,446 95,706 130,003 132,333
Accrued income taxes 32,525 29,285 33,921 18,321 9,537 88 1,065 17,907 16,856
Accrued expenses 83,694 78,585 87,834 94,797 82,440 91,707 97,467 91,519 80,756 92,419 82,448
Reserve for loss on financial support for a subsidiary 3,662
Other 37,808 26,183 32,653 31,473 35,652 27,154 30,524 31,849 28,199 27,942 29,170
Total current liabilities 704,442 626,706 574,782 549,544 507,145 503,182 476,455 477,252 568,030 525,769 612,964
Reserve for fluctuations in water level: 2,018 4,682 90 1,216 4,308
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
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 454,459 500,738 566,288 604,489 635,164 642,438 640,947 640,849 632,892 429,512 81,997
Unrealized gain on available ‐ for ‐ sale securities 15,087 33,897 36,055 64,355 53,547 27,744 13,121 15,481 10,727 11,634 17,826
Deferred gain(loss) on derivatives under hedge accounting 3,944 3,453 1,519 1,997 (1,754) (59) 3,859
Treasury stock (341) (444) (707) (901) (1,571) (1,723) (1,803) (1,968) (2,096) (2,129) (2,134)
Total Equity 796,923 861,910 929,356 995,662 1,018,803 999,678 981,539 984,109 967,515 766,700 429,287
Total 3,929,942 3,859,049 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NonNon‐‐CCon
onsolidated
solidated Statement
Statements of Income
s of Income24Note: Japanese yen figures less than a million yen are rounded down to the nearest million yen.
(Millions of Yen)
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Operating revenues:
Electric 1,353,075 1,311,220 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
Other 5,533 7,116 10,165 15,041 22,867 26,358 29,369 27,704 31,199 37,232 40,536
Total operating revenues 1,358,608 1,318,336 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
Operating expenses:
Electric
Personnel 190,908 201,537 185,902 178,454 144,806 138,312 136,794 172,720 162,650 167,965 151,844
Fuel 137,953 126,506 143,221 179,744 211,318 279,929 305,600 213,007 284,857 520,282 679,722
Purchased power 104,682 95,934 105,552 113,252 112,602 123,275 149,939 113,668 137,063 206,042 269,582
Depreciation 247,876 232,151 210,385 199,586 189,003 197,342 195,232 196,741 197,977 202,151 180,180
Maintenance 158,851 153,232 158,704 157,369 170,789 184,938 197,806 195,118 175,986 176,007 147,924
Reprocessing costs of irradiated nuclear fuel 49,762 27,037 26,627 31,079 49,858 41,578 34,166 33,787 30,795 21,631 17,352
Decommissioning costs of nuclear power units 6,656 1,633 5,008 9,121 6,545 21,356 8,309 9,093 7,524 3,106 2,627
Disposal cost of high‐level radioactive waste 8,074 8,003 7,726 8,041 8,821 9,125 8,668 10,372 8,885 6,010 3,247
Disposition of property 13,882 13,933 14,856 16,407 17,866 16,329 22,877 16,478 15,181 15,334 14,501
Taxes other than income taxes 94,225 90,749 91,846 89,258 87,215 87,107 88,453 87,473 87,680 83,142 82,265
Subcontract fee 60,214 60,345 66,778 64,896 65,657 70,721 74,835 79,226 67,728 65,948 64,485
Rent 36,159 36,182 36,463 36,316 36,514 36,547 35,760 34,333 32,789 31,276 29,298
Other 67,983 69,894 64,599 67,956 64,872 64,815 68,210 67,133 60,598 70,634 77,974
Total 1,177,230 1,117,142 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
Other 8,276 10,526 13,912 18,313 23,363 26,717 28,690 25,743 32,725 32,959 33,683
Total operating expenses 1,185,506 1,127,668 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
Operating Income 173,101 190,668 201,574 159,634 143,799 93,962 74,816 84,910 85,073 (195,722) (305,812)
Other expenses (Income):
Interest charges 73,621 73,565 46,520 38,444 35,799 34,426 33,444 33,145 32,150 32,266 35,581
Gain on sales of investment securities (23,109) (5,400) (2,224)
Loss on devaluation of investments in subsidiaries and
associated companies 15,424
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 8,688 9,171 2,131 6,992 2,221 (534) 2,608 1,408 1,043 550 (1,434)
Total other expenses ‐ net 74,625 82,737 55,343 55,501 43,623 33,891 30,652 34,553 49,295 32,816 34,146
<Ordinary Income> <90,791> <107,930> <152,922> <114,197> <105,778> <60,070> <38,764> <50,356> <54,103> <(228,538)> <(339,959)>
Income before income taxes and provision for (reversal of)
reserve for fluctuations in water level 98,475 107,930 146,231 104,132 100,175 60,070 44,164 50,356 35,778 (228,538) (339,959)
Provision for (reversal of) reserve for fluctuations
in water level 2,018 2,663 (4,682) 90 (90) 1,216 3,092
Income before income taxes 98,475 105,912 143,567 108,815 100,084 60,161 44,164 50,356 35,778 (229,754) (343,051)
Income taxes :
Current 49,501 54,574 61,074 49,471 34,101 17,837 10,406 24,619 28,334 64
Prior years 486
Deferred (13,570) (18,779) (6,892) (9,792) 6,746 6,640 6,841 (2,571) (13,000) (55,257) (5,065)
Total 35,930 35,794 54,181 39,678 40,848 24,478 17,247 22,048 15,334 (54,771) (5,001)
Net Income 62,545 70,118 89,385 69,136 59,236 35,683 26,916 28,307 20,443 (174,983) (338,050)
Capital Expenditure (Non
Capital Expenditure (Non‐
‐Consolidated)
Consolidated)25675 638 594 484 383
937 984 987797722
716 588 7887044940500
1,000
1,500
2,000
2,500
2009 2010 2011 2012 2013
Power Generating Facilities
Distribution Facilities
Other
(100 million yen)
1,599
2,210
2,369
1,985
2,328
(100 million yen)
2009 2010 2011 2012 2013
Hydro 177 144 152 142 107
Thermal 142 142 166 86 109
Nuclear 397 302 416 456 247
New Energy − − 54 20 31
Subtotal 716 588 788 704 494
Transmission 432 473 465 338 318
Transformation 196 207 178 144 156
Distribution 309 304 344 315 248
Subtotal 937 984 987 797 722
Administration and Other 199 221 255 206 145
Nuclear Fuel 388 362 258 231 195
Incidental Businesses 88 55 81 47 43
Subtotal 675 638 594 484 383
2,328 2,210 2,369 1,985 1,599
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
ationtion26
Financing(Non‐Consolidated)
(Billions of Yen)
2009 2010 2011 2012 2013
Capital Expenditure 232.8 221.0 236.9 198.5 159.9
Redemption of Debts 296.3 276.8 257.3 346.0 274.1
Total 529.1 497.8 494.2 544.5 434.0
Internal Sources 159.7 316.4 163.6 -193.5 -268.7
Internal Reserve,etc 159.7 316.4 163.6 -193.5 -268.7
Capital Increase - - - - -
External Funds 369.4 181.4 330.6 738.0 702.7
[At Par] [205.0] [60.0] [130.0] [-] [140.0]
Bonds 204.4 59.8 129.6 - 139.7
Loans 165.0 121.6 171.0 738.0 530.0
Commercial Paper - - 30.0 - 33.0
Total 529.1 497.8 494.2 544.5 434.0UsesSources
Uses(Non-Consolidated)
232.8 221.0 236.9
198.5
159.9
296.3
276.8 257.3 346.0
274.10100200300400500600700
2009 2010 2011 2012 2013
(Billions ofYen)Redemption of Debts
Capital Expenditure
Sources(Non-Consolidated)
159.7
316.4
163.6
204.459.8129.6-139.7
165.0 121.6
171.0
530.0
-193.5
-268.7
738.030.033.0-300-200-1000100200300400500600700800
2009 2010 2011 2012 2013
(Billions of Yen)
Commercial Paper
Loans
Bonds
Internal Reserve,etc
Rating As of March 31,2013
Long‐Term Debts Short‐Term DebtsA3(Seventh grade)‐Rating and Investment Information,Inc. A+
(Fifth grade)
a‐1
(Second grade)
Japan Credit Rating Agency,Ltd. AA
(Third grade)
J‐1+
(Top grade)
Rating Agency
Moody's64066568966468970766663559456654913,102
13,074 12,831
12,689
12,553
12,465
12,670
13,505
13,660
13,964
12,46601002003004005006007008002003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
12,000
12,500
13,000
13,500
14,000
14,500
Electricity sold per employee(10MW/employee) Number of employees(employee)
Electricity Sales per Employee
Electricity Sales per Employee27(employee)
(10MW/employee)
Shareholders Breakdown
Shareholders Breakdown2803/3 04/3 05/3 06/3 07/3 08/3 09/3 10/3 11/3 12/3 13/3
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 201,848 198,023 191,633 192,547 181,771 179,588 180,869 182,288 183,074 179,204 172,548
National government and local public organizations 32 30 29 29 31 28 35 28 26 26 26
Financial institutions 239 237 225 244 242 239 217 216 207 160 125
Domestic companies 1,279 1,222 1,168 1,173 1,187 1,199 1,202 1,196 1,219 1,169 1,121
Foreign individuals and companies 346 355 365 396 445 437 489 426 413 393 410
Securities firms 44 47 48 48 58 66 56 62 70 69 62
Others 2 2 2 2 2 2 1 1 1 1 1
Total 203,790 199,916 193,470 194,439 183,736 181,559 182,869 184,217 185,010 181,022 174,293
Percentage of total (%)
Individuals and others 99.05 99.05 99.05 99.03 98.93 98.91 98.90 98.95 98.95 98.99 98.99
National government and local public organizations 0.01 0.02 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.01
Financial institutions 0.12 0.12 0.12 0.13 0.13 0.13 0.11 0.11 0.11 0.08 0.07
Domestic companies 0.63 0.61 0.60 0.60 0.65 0.66 0.65 0.64 0.65 0.64 0.64
Foreign individuals and companies 0.17 0.18 0.19 0.20 0.24 0.24 0.26 0.23 0.22 0.21 0.23
Securities firms 0.02 0.02 0.02 0.02 0.03 0.04 0.03 0.03 0.03 0.03 0.03
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 174,166 172,445 163,066 164,135 152,676 151,101 155,892 164,667 173,363 171,140 169,386
National government and local public organizations 4,342 4,175 4,172 4,165 4,166 4,166 4,168 4,169 4,169 4,168 4,196
Financial institutions 224,127 222,730 220,183 222,475 223,621 216,356 226,107 216,145 209,141 204,613 199,545
Domestic companies 36,690 31,578 30,270 30,291 29,569 29,740 27,568 27,971 29,354 28,099 24,801
Foreign individuals and companies 31,495 37,879 52,439 48,245 58,886 69,265 57,835 55,954 50,889 56,414 72,009
Securities firms 3,155 5,111 3,662 4,360 4,574 2,839 1,865 4,442 6,362 8,811 3,299
Others 209 266 392 513 692 717 749 836 906 939 948
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 36.73 36.37 34.39 34.61 32.20 31.87 32.88 34.72 36.56 36.09 35.72
National government and local public organizations 0.92 0.88 0.88 0.88 0.88 0.88 0.88 0.87 0.87 0.87 0.88
Financial institutions 47.27 46.97 46.43 46.92 47.16 45.63 47.68 45.58 44.10 43.15 42.08
Domestic companies 7.74 6.66 6.39 6.39 6.24 6.27 5.81 5.89 6.19 5.92 5.23
Foreign individuals and companies 6.64 7.99 11.06 10.17 12.42 14.61 12.20 11.79 10.73 11.89 15.18
Securities firms 0.67 1.08 0.77 0.92 0.96 0.60 0.39 0.93 1.34 1.85 0.69
Others 0.04 0.05 0.08 0.11 0.14 0.14 0.16 0.17 0.19 0.19 0.20
Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00020406080100120140
02/4 03/4 04/4 05/4 06/4 07/4 08/4 09/4 10/4 11/4 12/4 13/4
(Million Shares)05001000150020002500300035004000(Yen)
Stock Price and Trade Volume
Stock Price and Trade Volume29■しかくTrade volume(Million Shares)
Stock price(Yen)
Subsidiaries and Affiliated Companies
Subsidiaries and Affiliated Companies30Company 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 59 Kyushu Telecommunication Network Co., Inc. Consolodated Subsidiary
3 Oita Co‐operative Thermal Power Co., Inc. Affiliated Company under Equity Method 60 Kyuden Infocom Company, Inc. Consolodated Subsidiary
Facility Construction and Maintenance 61 Nishimu Electronics Industries, CO., Ltd. Consolodated Subsidiary
4 Kyushu Rinsan Co.,Inc. Consolodated Subsidiary 62 Kyuden Business Solutions Co.,Inc Consolodated Subsidiary
5 Kyuden High Tech Corporation Consolodated Subsidiary 63 RKK Computer Service Co., Ltd. Consolodated Subsidiary
6 Nishinippon Plant Engineering and Construction Co.,Ltd. Consolodated Subsidiary 64 RKKCS Soft Co., Ltd. Subsidiary under Equity Method
7 KYUDEN SANGYO CO .,Inc. Consolodated Subsidiary 65 COARA Co., Ltd. Affiliated Company
8 WEST JAPAN ENGINEERING CONSULTANTS, Inc. Consolodated Subsidiary Environment and Recycling business
9 Nishigi Kogyo Consolodated Subsidiary 66 J‐Re‐Lights Co.,Ltd. Subsidiary under Equity Method
10 Plazwire Co., Ltd. Subsidiary under Equity Method 67 Kyushu Environmental Management Corporation Subsidiary under Equity Method
11 Nihon FRP Co., Inc. Subsidiary under Equity Method Lifestye‐oriented business
12 NISHIDA TECHNO SERVICE Co., Inc. Subsidiary under Equity Method 68 DENKI BLDG. Co., Ltd. Consolodated Subsidiary
13 Nishigi Surveying and Design Co., Ltd. Subsidiary under Equity Method 69 Capital Kyuden Corporation Consolodated Subsidiary
14 Kyudenko Corporation Affiliated Company under Equity Method 70 Kyuden Good Life Company, Inc. Consolodated Subsidiary
15 Nishikyushu Kyodo Kowan Co., Ltd. Affiliated Company under Equity Method 71 Kyuden Good Life Company, Inc. Higashi Fukuoka Consolodated Subsidiary
16 Kyuken Corporation Affiliated Company under Equity Method 72 Kyuden Good Life Company, Inc. Kumamoto Consolodated Subsidiary
Equipment and resources suppliers 73 Kyuden Good Life Company, Inc. Kagoshima Consolodated Subsidiary
17 Kyuden Technosystems Corporation Consolodated Subsidiary 74 Kyuden Good Life Company, Inc. Fukuoka Josui Consolodated Subsidiary
18 NISHI NIPPON AIRLINES CO., LTD. Consolodated Subsidiary 75 Kyuden Business Front Inc. Consolodated Subsidiary
19 Kyushu Kouatsu Concrete Industries Co., Ltd. Consolodated Subsidiary 76 Kyuden Fudousan Co.,Ltd Consolodated Subsidiary
20 Koyou Denki Kogyo Co.,Ltd. Consolodated Subsidiary 77 Kyuden Office Partner Co.,Inc. Consolodated Subsidiary
21 Kyuhen Co., Ltd. Affiliated Company under Equity Method 78 Kyushu Maintenance Co.,Ltd. Consolodated Subsidiary
22 Seishin Corporation Affiliated Company under Equity Method 79 Kyushu Highlands Development Co., Ltd. Subsidiary under Equity Method
23 Nishi Nihon Denki Tekkou Co.,Ltd. Affiliated Company under Equity Method 80 Kyuden Shared Business Co.,Ltd. Subsidiary under Equity Method
24 Japan Australia Uranium Resource Development Co.,Ltd. Affiliated Company 81 Q‐caption Center Subsidiary under Equity Method
Energy business 82 Kyuden Home Security Co., Inc. Subsidiary under Equity Method
25 Kyuden International Corporation Consolodated Subsidiary 83 Oak Partners Co.,Ltd. Subsidiary under Equity Method
26 Oita Liquefied Natural Gas Company, Inc. Consolodated Subsidiary 84 Kyushu Housing Guarantee Corporation Affiliated Company under Equity Method
27 Kitakyushu Liquefied Natural Gas Company Inc. Consolodated Subsidiary 85 Fukuoka Urban Development Co.,Ltd. Affiliated Company
28 Nishinippon Environmental Energy Company, Incorporated Consolodated Subsidiary 86 Midorigaoka Living Support Affiliated Company
29 Kyuden Ecosol Co., Inc. Consolodated Subsidiary 87 Ito Golf Culb Affiliated Company
30 Nagashima Windhill Co.,Ltd. Consolodated Subsidiary
31 Fukuoka Energy Service Co., Inc. Consolodated Subsidiary
32 Miyazaki Biomass Recycling Co., Ltd. Consolodated Subsidiary
33 Kushima Wind Hill Corporation Consolodated Subsidiary
34 Kyuden International Netherlands b.v. Consolodated Subsidiary
35 Kyuden Hsin Tao Power Holdings Co.,Ltd. Consolodated Subsidiary * As of March 31, 2013
36 Kyushu Electric Australia Pty Ltd Consolodated Subsidiary
37 Kyushu Electric Weststone Pty Ltd Consolodated Subsidiary
38 Pacific Hope Shipping Limited Consolodated Subsidiary
39 Washiodake Wind Power Co., Ltd. Subsidiary under Equity Method
40 Munakataasty Solar Power Co.Ltd Subsidiary under Equity Method
41 Amami Oshima Wind Power Co., Ltd. Subsidiary under Equity Method
42 KYUDEN SARULLA PTE.LTD. Subsidiary under Equity Method
43 Kyuden Ilijan Holding Corporation Subsidiary under Equity Method
44 Fukuoka Clean Energy Co., Ltd. Affiliated Company under Equity Method
45 Kyushu Cryogenics Co., Ltd. Affiliated Company under Equity Method
46 Kyushu Tohoku Enrichment Investing SAS Affiliated Company under Equity Method
47 Electricidad Aguila de Tuxpan,S.deR.L.deC.V Affiliated Company under Equity Method
48 Electricidad・Sol de Tuxpan,S.deR.L.deC.V Affiliated Company under Equity Method
49 Biocoal Kumamoto‐South CO.,LTD. Affiliated Company
50 Lion Power Affiliated Company
51 Hsin Tao Power Corporation Affiliated Company
52 Phu My3・BOT・Power・Company Ltd. Affiliated Company
53 Datang China‐Japan(Chifeng)Corporation 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
57 Kitakyushu LNG Lorry Sales Affiliated Company
58 Orient Eco Energy Limited Affiliated Company
[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