Kyushu Electric Power Co., Inc.
Stock code: 9508 URL: https://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
Quarterly financial report submission date (plan): November 11, 2022
Date to start dividend payments: -
Preparation of supplementary materials for quarterly financial results: Yes
Information meeting for quarterly financial results: Yes
(Rounded down to the nearest million yen)
1. Consolidated Financial Results for the Three Months (April 1, 2022 to September 30, 2022)
(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, 2022 - September 30, 2022 1,010,682 31.0 -75,699 - -77,861 -
April 1, 2021 - September 30, 2021 771,501 5.7 76,495 -15.9 65,745 -20.3
(Note) Comprehensive income : FY2022 1Q -12,555 million yen ( - %) FY2021 1Q 21,514 million yen (44.7%)
(Unit: million yen) (%)
April 1, 2022 - September 30, 2022 -47,676 -
April 1, 2021 - September 30, 2021 45,372 -28.0
(2) Consolidated Financial Position
(Reference) Shareholders' equity : As of September 30, 2022 : 616,781 million yen As of March 31, 2022: 645,497 million yen
2. Dividends
82.93
93.71
October 31, 2022
-103.07
(Unit: yen)-(Unit: yen)
(Note) Fully-diluted EPS for FY2022 2Q is not indicated because there are no delutive potential shares
(Note) Revision of the devidend forecast : No
The dividends for FY2022 have not been decided yet.We will provide an update as soon as it is possible to make
a sufficiently reliable forecast of the dividends for FY2022.
Dividends mentioned the above are regarding common shares. See 'Dividends for Class Shares' regarding
dividends for class shares which differ in shareholders' right from common shares.
Profit attributable to
owners of parent
EPS Fully-diluted EPS
The 2nd Quarter of the Fiscal Year Ending March 31, 2023 Financial Results Overview 〔Japan GAAP〕(Consolidated)
Sales Operating profit Ordinary profit
1Q 2Q 3Q Year-end Total
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen)
FY2021 ended March 31, 2022 ― 20.00 ― 20.00 40.00
FY2022 ended March 31, 2023 ― 0.00
FY2022 ending March 31, 2023
(forecast)
― ― ―
Annual dividends per share
Total assets Net assets Shareholders' equity ratio
(Unit: million yen) (Unit: million yen) (%)
As of September 30, 2022 5,597,503 650,764 11.0
As of March 31, 2022 5,342,350 676,337 12.1
3. Consolidated Financial Results Forecasts for FY2022 (April 1, 2022 to March 31, 2023)
※(注記) Note
(1)Changes in significant subsidiaries : No
(changes in scope of specified subsidiaries)
Newly added: - Excluded: -
(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 : Yes
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 at the end of period
FY2022 2Q 474,183,951 shares FY2021 474,183,951 shares
2 Treasury stocks at the end of period
FY2022 2Q 1,412,654 shares FY2021 1,463,267 shares
3 Average number of stocks during the period (Quarter Total)
FY2022 2Q 472,736,615 shares FY2021 2Q 472,979,325 shares
*Quarterly financial results is not the object of quarterly review.
*Notes on the proper use of the forecasts
Both forecast for Sales and Ordinary Income have not been decided yet because of the uncertain
outlook regarding fuel prices and the recent fluctuations in foreign exchange rates caused by the
Russia-Ukraine crisis, and the uncertainty in ascertaining winter supply and demand trends. We will
provide an update as soon as it is possible to make a reliable forecast of Financial Results for
FY2022.
(Note) The number of our shares regarding "Board Benefit Trust (BBT)" held by the Trust was included in the number of treasury
stocks at the end of period ( 842,000 shares as of FY2022 2Q and 897,000 shares as of FY2021) . 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. ( 879,000 shares for FY2022 2Q and 646,000 share for FY2021 2Q)
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.
We will post supplementary materials for quarterly financial results on our website.
(Note) For details, see "(3) Notes on Quarterly Consolidated Financial Statements :Changes in accounting policies on Page 6.
(Reference) Dividends for Class Shares
(Note 1) Revision of the dividend forecast : No
The breakdown of dividend for class shares which differ in shareholders' rights from common shares is as follows.
(Note 2) The dividends for FY2022 have not been decided yet.We will provide an update as soon as it is possible to make a
sufficiently reliable forecast of the dividends for FY2022.
1Q 2Q 3Q Year-end Total
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen)
FY2021 ended March 31, 2022 ― 1,050,000.00 ― 1,050,000.00 2,100,000.00
FY2022 ended March 31, 2023 ― 0.00
FY2022 ending March 31, 2023
(forecast)
― ― ―
Class A
preferred shares
Annual dividends per share
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 2Q
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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
(Changes in accounting policies) ・・・・・・・・・・・・・・・・・・・・・・・・・6
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 2Q
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1. Quarterly Consolidated Financial Statements and Notes
(1) Quarterly Consolidated Balance Sheets
(Unit:million yen)
As of March 31, 2022 As of September 30, 2022
Assets
Non-current assets 4,610,160 4,674,457
Electric utility plant and equipment 2,692,039 2,794,056
Hydroelectric power production facilities 260,131 271,290
Thermal power production facilities 250,797 237,846
Nuclear power production facilities 547,791 538,185
Internal combustion engine power production facilities 21,203 20,670
Renewable power production facilities 22,537 21,640
Transmission facilities 568,024 676,456
Transformation facilities 226,268 232,510
Distribution facilities 655,095 656,972
General facilities 130,080 128,409
Other electric utility plant and equipment 10,110 10,072
Other non-current assets 416,994 421,440
Construction in progress 673,257 582,827
Construction and retirement in progress 538,837 443,516
Special account related to nuclear power decommissioning 39,544 37,293
Special account related to reprocessing of spent nuclear fuel 94,874 102,017
Nuclear fuel 222,399 215,464
Loaded nuclear fuel 36,262 46,819
Nuclear fuel in processing 186,136 168,645
Investments and other assets 605,469 660,668
Long-term investments 246,352 267,072
Retirement benefit asset 26,623 27,642
Deferred tax assets 140,727 161,481
Other 193,114 205,768
Allowance for doubtful accounts △しろさんかく1,348 △しろさんかく1,296
Current assets 732,189 923,046
Cash and deposits 261,660 263,061
Notes and accounts receivable - trade, and contract assets 177,827 227,493
Inventories 101,699 184,476
Other 195,979 251,498
Allowance for doubtful accounts △しろさんかく4,977 △しろさんかく3,483
Total assets 5,342,350 5,597,503
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 2Q
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(Unit:million yen)
As of March 31, 2022 As of September 30, 2022
Liabilities
Non-current liabilities 3,582,972 3,716,219
Bonds payable 1,399,999 1,535,100
Long-term borrowings 1,737,265 1,733,976
Retirement benefit liability 85,946 83,134
Asset retirement obligations 289,103 292,885
Deferred tax liabilities 12,899 17,084
Other 57,758 54,039
Current liabilities 1,075,425 1,223,036
Current portion of non-current liabilities 399,638 424,363
Short-term borrowings 120,810 127,830
Commercial papers - 224,000
Notes and accounts payable - trade 142,614 132,384
Accrued taxes 19,798 19,772
Other 392,564 294,685
Reserves under special laws 7,613 7,483
Reserve for water shortage 7,613 7,483
Total liabilities 4,666,012 4,946,738
Net assets
Shareholders' equity 632,987 574,839
Share capital 237,304 237,304
Capital surplus 120,006 120,006
Retained earnings 277,382 219,177
Treasury shares △しろさんかく1,706 △しろさんかく1,649
Accumulated other comprehensive income 12,509 41,941
Valuation difference on available-for-sale securities 4,104 5,482
Deferred gains or losses on hedges 4,723 21,112
Foreign currency translation adjustment △しろさんかく1,383 10,702
Remeasurements of defined benefit plans 5,066 4,644
Non-controlling interests 30,840 33,982
Total net assets 676,337 650,764
Total liabilities and net assets 5,342,350 5,597,503
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 2Q
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(2) Quarterly Consolidated Income Statements and Quarterly Consolidated Comprehensive Income Statements
(Quarterly Consolidated Income Statements)
(Unit:million yen)
April 1,2021-
September 30, 2021
April 1,2022-
September 30, 2022
Operating revenue 771,501 1,010,682
Electric utility operating revenue 645,168 892,139
Other business operating revenue 126,332 118,542
Operating expenses 695,005 1,086,381
Electric utility operating expenses 575,587 974,791
Other business operating expenses 119,417 111,589
Operating profit (loss) 76,495 △しろさんかく75,699
Non-operating income 6,240 14,610
Dividend income 532 698
Interest income 423 544
Gain on sale of goods 580 3,781
Foreign exchange gains 170 3,477
Share of profit of entities accounted for using equity method 2,388 3,826
Other 2,144 2,280
Non-operating expenses 16,990 16,772
Interest expenses 12,430 12,734
Other 4,559 4,037
Total ordinary revenue 777,741 1,025,292
Total ordinary expenses 711,996 1,103,154
Ordinary profit (loss) 65,745 △しろさんかく77,861
Provision or reversal of reserve for water shortage △しろさんかく5 △しろさんかく130
Reversal of reserve for water shortage △しろさんかく5 △しろさんかく130
Extraordinary income - 11,280
Gain on sale of securities - 11,280
Profit (loss) before income taxes 65,750 △しろさんかく66,451
Income taxes - current 9,458 2,427
Income taxes - deferred 10,053 △しろさんかく21,903
Total income taxes 19,511 △しろさんかく19,476
Profit (loss) 46,238 △しろさんかく46,975
Profit attributable to non-controlling interests 866 701
Profit (loss) attributable to owners of parent 45,372 △しろさんかく47,676
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 2Q
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(Quarterly Consolidated Comprehensive Income Statements)
(Unit:million yen)
April 1,2021-
September 30, 2021
April 1,2022-
September 30, 2022
Profit (loss) 46,238 △しろさんかく46,975
Other comprehensive income
Valuation difference on available-for-sale securities 163 1,294
Deferred gains or losses on hedges △しろさんかく43 12,683
Foreign currency translation adjustment 2,316 9,343
Remeasurements of defined benefit plans, net of tax △しろさんかく227 △しろさんかく487
Share of other comprehensive income of entities accounted for using equity method 1,363 6,794
Total other comprehensive income 3,572 29,628
Comprehensive income 49,810 △しろさんかく17,346
Comprehensive income attributable to
Comprehensive income attributable to owners of parent 49,018 △しろさんかく18,244
Comprehensive income attributable to non-controlling interests 792 897
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 2Q
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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(Changes in accounting policies)
We have applied "ASBJ Guidance No. 31 Implementation Guidance on Accounting Standard for Fair Value
Measurement" as of the start of the first quarter of the current fiscal year, beginning April 1st, 2022.
The new accounting policy is applied prospectively in accordance with the transitional treatment as
described in Paragraph 27-2 of the Standard.
The impact of this change is minimal.