April 26, 2019
The Fiscal Year Ended March 31, 2019 Financial Results Overview 〔Japan GAAP〕(Consolidated)
Kyushu Electric Power Co., Inc.
Stock code: 9508 URL: http://www.kyuden.co.jp/english_index.html Stock listed on: Tokyo SE, Fukuoka SE
Representative: Mr. Kazuhiro Ikebe, President & Chief Executive Officer
Contact: Investor Relations Group, Corporate Strategy Division. Tel: +81-92-726-1575
General Meeting of Stockholders date (plan) : June 26,2019
Commencement of payment of year-end dividend: June 27,2019
Annual security report submission date (plan): June 27, 2019
Preparation of supplementary materials for quarterly financial results: Yes
Information meeting for quarterly financial results: Yes (for analysts and institutional investors)
1. Consolidated Financial Results for FY2018 (April 1, 2018 to March 31, 2019)
(1) Consolidated Operational Results
(Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%)
FY2018 ended March 31, 2019 2,017,181 2.9 86,575 -16.0 52,544 -28.7
FY2017 ended March 31, 2018 1,960,359 7.3 103,123 -15.9 73,678 -21.8
(Note) Comprehensive income : FY2018 22,597 million yen (-76.6%) FY2017 96,591 million yen (17.7%)
(Reference) Investment Profit/Loss under Equity Methods : FY2018 -2,822 million yen FY2017 7,257 million yen
(2) Consolidated Financial Position
(Reference) Shareholders' equity: FY2018 629,435 million yen FY2017 629,140 million yen
(3) Consolidated Cash Flow
2. Dividends
(Note) Dividends mentioned the above is regarding common shares. See 'Dividends for Class Shares' regarding dividends
for class shares which differ in shareholders' right from common shares.
Sales Operating income Ordinary income
(% shows the changes from the previous FY)
(Rounded down to the nearest million yen)
Cash flow from
operating activities
Cash flow from
investment
activities
Cash flow from
financing activities
Cash and cash
equivalents balance
as of term-end
(Unit: million yen) (Unit: million yen) (Unit: million yen) (Unit: million yen)
FY2018 ended March 31, 2019 283,020 -364,341 -40,716 245,273
FY2017 ended March 31, 2018 355,995 -321,751 -90,334 365,875
(Record date) 1Q Interim 3Q
Year-endTotal
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: million yen) (%) (%)
FY2017 ended March 31, 2018 ― 10.00 ― 10.00 20.00 9,479 11.4 1.9
FY2018 ended March 31, 2019 ― 15.00 ― 15.00 30.00 14,218 51.7 2.7
FY2019 ending March 31, 2020
(forecast) ― 20.00 ― 20.00 40.00 35.4
Annual dividends per share
Total dividends
(annual)
Payout ratio
(consolidated)
Dividend rate for net
assets (consolidated)
Total assets Net assets
Shareholders'
equity ratio
Net assets
per share
(Unit: million yen) (Unit: million yen) (%) (Unit: yen)
FY2018 ended March 31, 2019 4,794,039 665,250 13.3 1,136.82
FY2017 ended March 31, 2018 4,710,073 653,963 13.4 1,113.43
Net income
per share
Fully-diluted
net earnings
per share
Net returnonshareholders'
equity
Ratio of
current
income to
total capital
Ratio of
current
income to
sales
(Unit: million yen) (%) (Unit: yen) (Unit: yen) (%) (%) (%)
FY2018 ended March 31, 2019 30,970 -64.3 58.05 47.51 4.9 1.1 4.3
FY2017 ended March 31, 2018 86,657 9.3 175.56 144.03 14.7 1.6 5.3
Profit attributable to
owners of parent
3. Forecast for FY2019 (April 1, 2019 to March 31, 2020)
※(注記) Note
(1)Changes in significant subsidiaries (changes in scope of specified subsidiaries) : No
Newly added:0 Excluded:0
(2) 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
(3) Number of common stocks issued and outstanding
1 Total stocks including treasury stocks at the end of period
FY2018 474,183,951 shares FY2017 474,183,951 shares
2 Treasury stocks at the end of period
FY2018 1,209,576 shares FY2017 520,059 shares
3 Average number of stocks during the period
FY2018 473,206,217 shares FY2017 473,662,498 shares
(Reference) Outline of Non-consolidated Financial Results
1. Non-consolidated Financial Results for FY2018 (April 1, 2018 to March 31, 2019)
(1) Non-Consolidated Operational Results
(% shows the changes from the previous FY)
(Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%)
FY2018 ended March 31, 2019 1,867,152 2.4 60,656 -25.3 32,534 -32.5
FY2017 ended March 31, 2018 1,823,543 7.5 81,203 -18.4 48,203 -30.0
(Unit: million yen) (%)
FY2018 ended March 31, 2019 23,425 -66.1
FY2017 ended March 31, 2018 69,023 13.0
Net earnings per share
Operating income
(% show s the changes from the same financial periods of the previous year)
138.24
(Unit: yen)
Sales
Net income
(Note) As we have introduced a performance-linked stock compensation plan "Board Benefit Trust (BBT)", the number of our shares
regarding BBT held by the Trust was included in the number of treasury stocks at the end of period ( 676,200 shares as of
FY2018 and -share as of FY2017) . In addition, the number of our shares held by the Trust was included in the number of
treasury stocks, which was to be deducated from the calculation of the average number of stocks during the period.
( 450,800 shares for FY2018 and -share for FY2017)
113.43
34.44
Ordinary income
(Unit: yen)
42.08
Fully-diluted net earnings
per share
Net earnings per
share
(Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%) (Unit: yen)
Full-year 2,085,000 3.4 105,000 21.3 80,000 52.3 55,000 77.6 112.90
Profit attributable to
owners of parent
Sales Operating income Ordinary income
(2) Non-Consolidated Financial Position
(Reference) Shareholders' equity: FY2018 495,799 million yen FY2017 488,774 million yen
2. Non-consolidated Forecast for FY2019 (April 1, 2019 to March 31, 2020)
(% show s the changes from the same financial periods of the previous year)
*Financial results are not subject to audit procedures
*Notes on the proper use of the forecasts
We will post supplementary materials for 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.
Looking-forward statements are based on information available at the date of the release of this document. Due to various
factors, the actual result may differ from these statements.
(Note) The board of directors has decided to revise Class A preferred shares as of April 22,2019. Therefore, with regard
to the forecast of FY2019 ending March 31, 2020, this revision is reflected.
Total assets Net assets
Shareholders'
equity ratio
Net assets
per share
(Unit: million yen) (Unit: million yen) (%) (Unit: yen)
FY2018 ended March 31, 2019 4,278,837 495,799 11.6 832.60
FY2017 ended March 31, 2018 4,230,935 488,774 11.6 816.57
Net earnings per
share
(Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%) (Unit: yen)
Full-year 1,915,000 2.6 75,000 23.6 50,000 53.7 35,000 49.4 70.57
Sales Operating income Ordinary income Net income
1Q 2Q 3Q Year-end Total
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen)
FY2017 ended March 31, 2018 ― 1,750,000.00 ― 1,750,000.00 3,500,000.00
FY2018 ended March 31, 2019 ― 1,750,000.00 ― 1,750,000.00 3,500,000.00
FY2019 ending March 31, 2020
(forecast)
― 546,575.00 ― 1,052,877.00 1,599,452.00
Class A
preferred shares
Annual dividends per share
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 1 -
○しろまる Table of Contents of Attached Material
1. Consolidated Financial Statements and Main Notes・・・・・・・・・・・・・・・・・・・・ 2
(1) Consolidated Balance Sheets ・・・・・・・・・・・・・・・・・・・・・・・・・・ 2
(2) Consolidated Income Statements and Consolidated Comprehensive Income Statements・・・・ 4
(3) Consolidated Statements of Changes in Shareholders’ Equity ・・・・・・・・・・・・・・ 6
(4) Consolidated Statements of Cash Flows ・・・・・・・・・・・・・・・・・・・・・・ 8
(5) Notes on Consolidated Financial Statements ・・・・・・・・・・・・・・・・・・・・ 10
(Note on the premise of going concern)・・・・・・・・・・・・・・・・・・・・・・・ 10
(Segment information, etc) ・・・・・・・・・・・・・・・・・・・・・・・・・・・ 10
Please note that this purports to be an accurate and complete translation of the original Japanese
version prepared for the convenience of our English-speaking audience. However, in the case of any
discrepancy between the translation and the Japanese original, the latter shall prevail.4688101010Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 2 -
1. Consolidated Financial Statements and Main Notes
(1) Consolidated Balance Sheets
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 3 -
(Unit:million yen)
As of March 31, 2018 As of March 31, 2019
Liabilities
Non-current liabilities 3,078,137 3,105,099
Bonds payable 1,074,496 1,089,897
Long-term loans payable 1,624,600 1,576,280
Reserve for restoration costs of natural disaster 58 -
Retirement benefit liability 95,605 99,600
Asset retirement obligations 221,372 264,166
Deferred tax liabilities 1,597 3,682
Other 60,405 71,472
Current liabilities 969,282 1,014,731
Current portion of non-current liabilities 437,675 452,478
Short-term loans payable 117,371 115,063
Notes and accounts payable - trade 81,987 70,270
Accrued taxes 45,875 20,346
Reserve for restoration costs of natural disaster 572 -
Other 285,799 356,572
Reserves under special laws 8,690 8,958
Reserve for fluctuation in water levels 8,690 8,958
Total liabilities 4,056,110 4,128,789
Net assets
Shareholders' equity 639,966 657,162
Capital stock 237,304 237,304
Capital surplus 120,825 120,831
Retained earnings 282,504 300,551
Treasury shares -668 -1,524
Accumulated other comprehensive income -10,825 -17,726
Valuation difference on available-for-sale securities 4,369 4,090
Deferred gains or losses on hedges -1,412 -4,306
Foreign currency translation adjustment -1,905 -3,582
Remeasurements of defined benefit plans -11,876 -13,928
Non-controlling interests 24,822 25,814
Total net assets 653,963 665,250
Total liabilities and net assets 4,710,073 4,794,039
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 4 -
(2) Consolidated Income Statements and Consolidated Comprehensive Income Statements
Consolidated Income Statements
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 5 -
Consolidated Comprehensive Income Statements
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 6 -
(3) Consolidated Statements of Changes in Shareholders’ Equity
Previous consolidated fiscal year (April 1, 2017 to March 31, 2018)
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 7 -
Current consolidated fiscal year (April 1, 2018 to March 31, 2019)
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 8 -
(4) Consolidated Statements of Cash Flows
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 9 -
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 10 -
(5) Notes on Consolidated Financial Statements
(Note on the premise of going concern)N/A(Segment information)
1. Segment information
(1) Overview of reportable segments
Our reportable segments are based on the units that compose our company for which separate financial
information is available. The segments are subject to regular review by the Board of Directors to evaluate
performance.
We are composed of four reportable segments, "Electricity", "Energy-related", "IT/Telecommunication" and
"Other businesses", classified in consideration of the types of products and business activities.
The main products and business activities belonging to each Reportable segment are described below.
Reportable segment Main products and business activities
Electricity Supply of electricity
Energy-related
Receipt, storage, vaporization, delivery and sales of LNG, renewable energy
business, energy supply, manufacturing and sales of electric machinery, construction,
maintenance and repair of electric power facilities, maintenance and repair of power
generation facilities, manufacturing and sales of concrete poles, environmental
preservation activities around power generation facilities, consultation and planning
of civil engineering and construction, mining-lot interests, take and sales of products,
and asset management of Wheatstone LNG projectIT/Telecommunication
Fiber-optic cable and broadband service, manufacturing, sales, installation and
maintenance of telecommunication devices, development, operation and
maintenance of information system
Other
Acquiring and owning of securities, loan to group companies, leasing and
management of real estate, contracted sitting work
(2) Calculation method of amount of sales, income or loss, asset and other items by Reportable segment
Accounting method of Reportable segment is the same to the Preparation of consolidated financial statements.
Reportable segment income is on operating income basis. Inter-segment sales are based on a market price.
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2018
- 11 -
(3) Information regarding amount of sales, income or loss, asset and other items by Reportable segment
Previous consolidated fiscal year (April 1, 2017 to March 31, 2018)
(Unit: million yen)
*1 Adjusted amount of Segment income of \-2,177 million and adjusted amount of Segment asset of \-151,029 million
are inter-segment elimination.
*2 Segment income is adjusted with operating income within consolidated income statements.
Current consolidated fiscal year (April 1, 2018 to March 31, 2019)
(Unit: million yen)
*1 Adjusted amount of Segment income of \-803 million and adjusted amount of Segment asset of \-147,882 million are
inter-segment elimination.
*2 Segment income is adjusted with operating income within consolidated income statements.