The 3rd Quarter of the Fiscal Year Ending March 31, 2018 Financial Results Overview 〔Japan GAAP〕(Consolidated)
Kyushu Electric Power Co., Inc.
Stock code: 9508 URL: http://www.kyuden.co.jp/en_index.html
Representative: Mr. Michiaki Uriu, President
Contact: Investor Relations Group, Corporate Strategy Division. Tel: +81-92-726-1575
Quarterly financial report submission date (plan): February 7, 2018
Date to start dividend payments: -
Preparation of supplementary materials for quarterly financial results: Yes
Information meeting for quarterly financial results: No
(Rounded down to the nearest million yen)
1. Consolidated Financial Results for the Nine Months (April 1, 2017 to December 31, 2017)
(1) Consolidated Operational Results (% shows the changes from the same quarter period of the previous FY)
(Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%)
April 1, 2017 - December 31, 2017 1,438,406 6.8 103,141 -16.2 83,644 -19.5
April 1, 2016 - December 31, 2016 1,346,736 -0.5 123,138 33.0 103,916 50.8
(Note) Comprehensive income : FY2017 3Q 79,480 million yen (-7.6%) FY2016 3Q 86,057 million yen (92.6%)
(Unit: million yen) (%)
April 1, 2017 - December 31, 2017 73,636 -13.7
April 1, 2016 - December 31, 2016 85,352 62.0
(2) Consolidated Financial Position
(Reference) Shareholders' equity : As of December 31, 2017 : 612,421 million yen As of March 31, 2017: 550,965 million yen
2. Dividends
(Note) Revision of the devidend forecast : No
Dividends mentioned above is regarding common shares. See 'Dividends for class shares' regarding dividends
for class shares which differ in shareholders' right from common shares.
3. Consolidated Financial Results Forecasts for FY2017 (April 1, 2017 to March 31, 2018)
149.92―(% shows the changes from the previous fiscal year)
Sales Operating income Ordinary income
174.65
Stock listed on: Tokyo SE, Fukuoka SE
(Note) Revision of financial results forecasts : No
January 31, 2018
Profit attributable to
owners of parent
EPS Fully-diluted EPS
(Unit: yen)
(Unit: yen)
122.99
1Q 2Q 3Q Year-end Total
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen)
As of March 31, 2017 ― 0.00 ― 15.00 15.00
As of March 31, 2018 ― 10.00 ―
As of March 31, 2018 (Forecast) 10.00 20.00
Annual dividends per share
Total assets Net assets Shareholders' equity ratio
(Unit: million yen) (Unit: million yen) (%)
As of December 31, 2017 4,543,243 636,856 13.5
As of March 31, 2017 4,587,541 574,577 12.0EPS(Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%) (Unit: yen)
Full-year 1,945,000 6.4 95,000 -22.5 65,000 -31.0 50,000 -36.9 98.17
Profit attributable to
owners of parent
Sales Operating income Ordinary income
※(注記) Note
(1)Changes in significant subsidiaries : No
(changes in scope of specified subsidiaries)
Newly added: 0 Excluded: 0
(2) Adoption of methods specific in preparing quarterly consolidated financial statements in accounting practice : No
(3) Changes in accounting principles, changes in accounting estimates, restatement
1 Changes in accounting principles in line with revised accounting standards : No
2 Changes in accounting principles other than 1 : No
3 Changes in accounting estimates : No
4 Restatement : No
(4) Number of common stocks issued and outstanding
1 Total stocks including treasury stocks FY2017 3Q: 474,183,951 shares FY2016: 474,183,951 shares
2 Treasury stocks FY2017 3Q: 515,981 shares FY2016: 522,731 shares
3 Average number of shares during the periodFY2017 3Q: 473,661,581 shares FY2016 3Q: 473,662,182 shares
*Quarterly financial results is not the object of quarterly review.
*Notes on the proper use of the forecasts
Looking-forward statements are based on information available atthe date ofthe release ofthis document. Due to various factors, the actual resultmay differ fromthese statements.
We will postsupplementary materials for quaetely financial results on our website.
(Reference) Dividends for Class Shares
The breakdown of dividend for class shares which differ in shareholders' rights from common shares is as follows.
(Note1)Revision of the dividend forecast : No
(Reference) Non-consolidated Financial Results Forecasts
Non-consolidated Financial Results Forecasts for FY2017 (April 1, 2017 to March 31, 2018)
(Note) Revision of financial results forecasts : No
(% shows the changes from the previous fiscal year)EPS(Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%) (Unit: yen)
Full-year 1,810,000 6.7 75,000 -24.6 45,000 -34.7 35,000 -42.7 66.46
Sales Operating income Ordinary income Profit
1Q 2Q 3Q Year-end Total
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen)
As of March 31, 2017 ― 0.00 ― 3,500,000.00 3,500,000.00
As of March 31, 2018 ― 1,750,000.00 ―
As of March 31, 2018 (Forecast) 1,750,000.00 3,500,000.00
Class A
preferred shares
Annual dividends per share
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2017 3Q
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○しろまる Table of Contents of Attached Material
1. Quarterly Consolidated Financial Statements and Notes ・・・・・・・・・・・・・・・・・ 2
(1) Quarterly Consolidated Balance Sheets ・・・・・・・・・・・・・・・・・・・・・・ 2
(2) Quarterly Consolidated Income Statements
and Quarterly Consolidated Comprehensive Income Statements ・・・・・・・・・・・・ 4
(3) Notes on Quarterly Consolidated Financial Statements ・・・・・・・・・・・・・・・・ 6
(Notes on the premise of going concern) ・・・・・・・・・・・・・・・・・・・・・ 6
(Notes in case of drastic changes in the amount of equity)・・・・・・・・・・・・・・・ 6
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2017 3Q
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1. Quarterly Consolidated Financial Statements
(1) Quarterly Consolidated Balance Sheets
(Unit:million yen)
Assets
Non-current assets 3,817,910 3,882,372
Electric utility plant and equipment 2,337,449 2,286,124
Hydroelectric power production facilities 270,206 266,301
Thermal power production facilities 206,881 206,102
Nuclear power production facilities 239,979 221,621
Internal combustion engine power production facilities 16,839 15,675
Renewable power production facilities 13,562 12,640
Transmission facilities 629,154 613,250
Transformation facilities 219,907 213,986
Distribution facilities 620,995 621,564
General facilities 114,099 109,160
Other electric utility plant and equipment 5,823 5,820
Other non-current assets 330,060 323,070
Construction in progress 487,450 585,160
Construction and retirement in progress 467,401 564,708
Special account related to nuclear power decommissioning 20,048 19,432
Manufacturing process in progress related to reprocessing of irradiated nuclear fuel - 1,019
Nuclear fuel 252,138 267,248
Loaded nuclear fuel 73,956 65,754
Nuclear fuel in processing 178,182 201,493
Investments and other assets 410,811 420,769
Long-term investments 149,743 153,952
Net defined benefit asset 11,041 12,422
Deferred tax assets 129,562 128,745
Other 121,822 126,928
Allowance for doubtful accounts △しろさんかく1,357 △しろさんかく1,279
Current assets 769,630 660,871
Cash and deposits 414,476 287,986
Notes and accounts receivable - trade 191,348 217,142
Inventories 64,344 79,293
Deferred tax assets 39,437 44,002
Other 60,983 33,209
Allowance for doubtful accounts △しろさんかく959 △しろさんかく763
Total assets 4,587,541 4,543,243
As of March 31, 2017 As of December 31, 2017
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2017 3Q
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(Unit:million yen)
Liabilities
Non-current liabilities 3,165,756 3,011,442
Bonds payable 1,104,296 1,074,496
Long-term loans payable 1,684,741 1,558,470
Reserve for restoration costs of natural disaster 188 83
Net defined benefit liability 99,526 99,381
Asset retirement obligations 217,278 220,046
Deferred tax liabilities 354 1,054
Other 59,370 57,909
Current liabilities 838,636 886,249
Current portion of non-current liabilities 414,545 437,042
Short-term loans payable 117,272 119,791
Notes and accounts payable - trade 59,412 64,833
Accrued taxes 17,059 39,280
Reserve for restoration costs of natural disaster 1,238 829
Other 229,108 224,472
Reserves under special laws 8,570 8,694
Reserve for fluctuation in water levels 8,570 8,694
Total liabilities 4,012,964 3,906,386
Net assets
Shareholders' equity 570,410 626,949
Capital stock 237,304 237,304
Capital surplus 120,844 120,825
Retained earnings 212,945 269,483
Treasury shares △しろさんかく685 △しろさんかく663
Accumulated other comprehensive income △しろさんかく19,444 △しろさんかく14,528
Valuation difference on available-for-sale securities 3,597 4,938
Deferred gains or losses on hedges △しろさんかく1,389 △しろさんかく1,419
Foreign currency translation adjustment △しろさんかく3,590 △しろさんかく1,304
Remeasurements of defined benefit plans △しろさんかく18,062 △しろさんかく16,743
Non-controlling interests 23,611 24,435
Total net assets 574,577 636,856
Total liabilities and net assets 4,587,541 4,543,243
As of March 31, 2017 As of December 31, 2017
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2017 3Q
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(2) Quarterly Consolidated Income Statements and Quarterly Consolidated Comprehensive Income Statements
(Quarterly Consolidated Income Statements)
(Unit:million yen)
Operating revenue 1,346,736 1,438,406
Electric utility operating revenue 1,243,306 1,329,263
Other business operating revenue 103,430 109,143
Operating expenses 1,223,598 1,335,265
Electric utility operating expenses 1,131,596 1,235,605
Other business operating expenses 92,001 99,659
Operating profit 123,138 103,141
Non-operating income 13,958 11,750
Dividend income 2,921 3,770
Interest income 2,306 273
Share of profit of entities accounted for using equity method 4,256 4,654
Other 4,474 3,052
Non-operating expenses 33,180 31,247
Interest expenses 27,303 25,104
Other 5,876 6,143
Total ordinary revenue 1,360,695 1,450,157
Total ordinary expenses 1,256,778 1,366,513
Ordinary profit 103,916 83,644
Provision or reversal of reserve for fluctuation in water levels 1,119 123
Provision of reserve for fluctuation in water levels 1,119 123
Extraordinary losses 10,613 -
Contingent loss 320 -
Extraordinary loss on natural disaster 10,293 -
Profit before income taxes 92,183 83,521
Income taxes - current 9,438 14,219
Income taxes - deferred △しろさんかく3,560 △しろさんかく5,309
Total income taxes 5,878 8,910
Profit 86,305 74,611
Profit attributable to non-controlling interests 953 975
Profit attributable to owners of parent 85,352 73,636
April 1, 2016 -
December 31, 2016
April 1, 2017 -
December 31, 2017
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2017 3Q
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(Quarterly Consolidated Comprehensive Income Statements)
(Unit:million yen)
Profit 86,305 74,611
Other comprehensive income
Valuation difference on available-for-sale securities 880 770
Deferred gains or losses on hedges △しろさんかく411 △しろさんかく211
Foreign currency translation adjustment △しろさんかく824 1,820
Remeasurements of defined benefit plans, net of tax 1,106 1,445
Share of other comprehensive income of entities accounted for using equity method △しろさんかく998 1,044
Total other comprehensive income △しろさんかく247 4,869
Comprehensive income 86,057 79,480
Comprehensive income attributable to
Comprehensive income attributable to owners of parent 84,945 78,552
Comprehensive income attributable to non-controlling interests 1,111 928
April 1, 2016 -
December 31, 2016
April 1, 2017 -
December 31, 2017
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2017 3Q
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(3) Notes on Quarterly Consolidated Financial Statements
(Notes on the premise of going concern)N/A(Notes in case of drastic changes in the amount of equity)N/A* Be advised that the Japanese version shall prevail if in any case a discrepancy arises between the original and
English translation