The 2nd 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): November 9, 2017
Date to start dividend payments: November 30, 2017
Preparation of supplementary materials for quarterly financial results: Yes
Information meeting for quarterly financial results: Yes (for analysts and institutional investors)
(Rounded down to the nearest million yen)
1. Consolidated Financial Results for the Six Months (April 1, 2017 to September 30, 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 - September 30, 2017 989,204 6.6 92,552 -19.4 78,853 -21.4
April 1, 2016 - September 30, 2016 928,297 -0.3 114,763 42.4 100,371 53.1
(Note) Comprehensive income : FY2017 2Q 74,138 million yen (-4.9%) FY2016 2Q 77,927 million yen (62.4%)
(Unit: million yen) (%)
April 1, 2017 - September 30, 2017 70,609 -13.3
April 1, 2016 - September 30, 2016 81,444 52.0
(2) Consolidated Financial Position
(Reference) Shareholders' equity : As of September 30, 2017 : 613,782 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)
(% shows the changes from the previous fiscal year)
Sales Operating income Ordinary income
168.25
145.38―(Note) Revision of financial results forecasts : No
October 31, 2017
Profit attributable to
owners of parent
EPS Fully-diluted EPS
(Unit: yen)
(Unit: yen)
119.26
Stock listed on: Tokyo SE, Fukuoka SE
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 September 30, 2017 4,517,885 637,994 13.6
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 2Q: 474,183,951 shares FY2016: 474,183,951 shares
2 Treasury stocks FY2017 2Q: 528,040 shares FY2016: 522,731 shares
3 Average number of shares during the periodFY2017 2Q: 473,660,376 shares FY2016 2Q: 473,660,399 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 from these 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 2Q
- 1 -
○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 2Q
- 2 -
1. Quarterly Consolidated Financial Statements
(1) Quarterly Consolidated Balance Sheets
(Unit:million yen)
Assets
Non-current assets 3,817,910 3,842,975
Electric utility plant and equipment 2,337,449 2,296,218
Hydroelectric power production facilities 270,206 266,728
Thermal power production facilities 206,881 204,307
Nuclear power production facilities 239,979 226,391
Internal combustion engine power production facilities 16,839 15,783
Renewable power production facilities 13,562 12,827
Transmission facilities 629,154 618,503
Transformation facilities 219,907 214,556
Distribution facilities 620,995 620,269
General facilities 114,099 111,028
Other electric utility plant and equipment 5,823 5,821
Other non-current assets 330,060 323,422
Construction in progress 487,450 547,156
Construction and retirement in progress 467,401 526,499
Special account related to nuclear power decommissioning 20,048 19,637
Manufacturing process in progress related to reprocessing of irradiated nuclear fuel - 1,019
Nuclear fuel 252,138 259,894
Loaded nuclear fuel 73,956 68,489
Nuclear fuel in processing 178,182 191,404
Investments and other assets 410,811 416,285
Long-term investments 149,743 151,452
Net defined benefit asset 11,041 11,974
Deferred tax assets 129,562 128,694
Other 121,822 125,456
Allowance for doubtful accounts -1,357 -1,292
Current assets 769,630 674,909
Cash and deposits 414,476 261,716
Notes and accounts receivable - trade 191,348 251,092
Inventories 64,344 73,010
Deferred tax assets 39,437 44,125
Other 60,983 45,789
Allowance for doubtful accounts -959 -825
Total assets 4,587,541 4,517,885
As of March 31, 2017 As of September 30, 2017
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2017 2Q
- 3 -
(Unit:million yen)
Liabilities
Non-current liabilities 3,165,756 3,050,441
Bonds payable 1,104,296 1,084,496
Long-term loans payable 1,684,741 1,587,812
Reserve for restoration costs of natural disaster 188 125
Net defined benefit liability 99,526 99,642
Asset retirement obligations 217,278 219,144
Deferred tax liabilities 354 751
Other 59,370 58,468
Current liabilities 838,636 821,305
Current portion of non-current liabilities 414,545 379,005
Short-term loans payable 117,272 120,304
Notes and accounts payable - trade 59,412 54,457
Accrued taxes 17,059 39,753
Reserve for restoration costs of natural disaster 1,238 1,018
Other 229,108 226,766
Reserves under special laws 8,570 8,144
Reserve for fluctuation in water levels 8,570 8,144
Total liabilities 4,012,964 3,879,890
Net assets
Shareholders' equity 570,410 630,402
Capital stock 237,304 237,304
Capital surplus 120,844 120,846
Retained earnings 212,945 272,945
Treasury shares -685 -694
Accumulated other comprehensive income -19,444 -16,620
Valuation difference on available-for-sale securities 3,597 4,250
Deferred gains or losses on hedges -1,389 -1,389
Foreign currency translation adjustment -3,590 -2,278
Remeasurements of defined benefit plans -18,062 -17,202
Non-controlling interests 23,611 24,212
Total net assets 574,577 637,994
Total liabilities and net assets 4,587,541 4,517,885
As of March 31, 2017 As of September 30, 2017
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2017 2Q
- 4 -
(2) Quarterly Consolidated Income Statements and Quarterly Consolidated Comprehensive Income Statements
(Quarterly Consolidated Income Statements)
(Unit:million yen)
Operating revenue 928,297 989,204
Electric utility operating revenue 859,257 917,229
Other business operating revenue 69,039 71,974
Operating expenses 813,533 896,651
Electric utility operating expenses 751,896 830,185
Other business operating expenses 61,636 66,465
Operating profit 114,763 92,552
Non-operating income 8,833 8,276
Dividend income 1,894 2,773
Interest income 1,836 227
Share of profit of entities accounted for using equity method 2,547 3,141
Other 2,554 2,134
Non-operating expenses 23,225 21,976
Interest expenses 18,341 17,008
Other 4,883 4,967
Total ordinary revenue 937,130 997,480
Total ordinary expenses 836,758 918,627
Ordinary profit 100,371 78,853
Provision or reversal of reserve for fluctuation in water levels 487 -426
Provision of reserve for fluctuation in water levels 487 -
Reversal of reserve for fluctuation in water levels - -426
Extraordinary losses 10,021 -
Contingent loss 316 -
Extraordinary loss on natural disaster 9,704 -
Profit before income taxes 89,862 79,279
Income taxes - current 11,998 13,051
Income taxes - deferred -4,259 -5,031
Total income taxes 7,738 8,019
Profit 82,124 71,259
Profit attributable to non-controlling interests 680 650
Profit attributable to owners of parent 81,444 70,609
April 1, 2016 -
September 30, 2016
April 1, 2017 -
September 30, 2017
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2017 2Q
- 5 -
(Quarterly Consolidated Comprehensive Income Statements)
(Unit:million yen)
Profit 82,124 71,259
Other comprehensive income
Valuation difference on available-for-sale securities 208 467
Deferred gains or losses on hedges -1,980 -23
Foreign currency translation adjustment -1,167 990
Remeasurements of defined benefit plans, net of tax 684 931
Share of other comprehensive income of entities accounted for using equity method -1,941 513
Total other comprehensive income -4,196 2,879
Comprehensive income 77,927 74,138
Comprehensive income attributable to
Comprehensive income attributable to owners of parent 77,157 73,433
Comprehensive income attributable to non-controlling interests 769 704
April 1, 2016 -
September 30, 2016
April 1, 2017 -
September 30, 2017
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2017 2Q
- 6 -
(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