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): August 10, 2023
Date to start dividend payments: -
Preparation of supplementary materials for quarterly financial results: Yes
Information meeting for quarterly financial results: No
(Rounded dow n to the nearest million yen)
1. Consolidated Financial Results for the Three Months (April 1, 2023 to June 30, 2023)
(1) Consolidated Operational Results
(% show s the changes from the same quarter period of the previous FY)
(Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%)
April 1, 2023 - June 30, 2023 496,524 13.7 100,218 - 100,688 -
April 1, 2022 - June 30, 2022 436,719 24.8 -46,638 - -47,288 -
(Note) Comprehensive income : FY2023 1Q 78,461 million yen ( - %) FY2022 1Q -12,555 million yen ( - %)
(Unit: million yen) (%)
April 1, 2023 - June 30, 2023 71,457 -
April 1, 2022 - June 30, 2022 -34,811 -
shares
(2) Consolidated Financial Position
(Reference) Shareholders' equity : As of June 30, 2023 : 660,257 million yen As of March 31, 2023: 582,064 million yen
2. Dividends
3. Consolidated Financial Results Forecasts for FY2023 (April 1, 2023 to March 31, 2024)
Fully-diluted EPS for FY2022 1Q is not indicated because EPS for FY2022 w as minus and there are no delutive potential
(Note) Revision of the consolidated financial results forecast : No
(Note) Fully-diluted EPS for FY2023 1Q is not indicated because there are no delutive potential shares
(Note) Revision of the devidend forecast : No
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.
(Unit: yen) (Unit: yen)
150.02 -
-74.75 -
July 31, 2023
The 1st Quarter of the Fiscal Year Ending March 31, 2024 Financial Results Overview 〔Japan GAAP〕(Consolidated)
Sales Operating profit Ordinary profit
Profit attributable to
owners of parent
EPS Fully-diluted EPS
1Q 2Q 3Q Year-end Total
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen)
FY2022 ended March 31, 2023 ― 0.00 ― 0.00 0.00
FY2023 ended March 31, 2024 ―
FY2023 ending March 31, 2024 (forecast) 0.00 ― 20.00 20.00
Annual dividends per share
Total assets Net assets Shareholders' equity ratio
(Unit: million yen) (Unit: million yen) (%)
As of June 30, 2023 5,522,197 693,492 12.0
As of March 31, 2023 5,603,678 617,230 10.4EPS(Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%) (Unit: million yen) (%) (Unit: yen)
Full-year 2,250,000 1.3 140,000 - 120,000 - 90,000 - 180.66
Profit attributable to
owners of parent
Sales Operating profit Ordinary profit
※(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 : 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 at the end of period
FY2023 1Q 474,183,951 shares FY2022 474,183,951 shares
2 Treasury stocks at the end of period
FY2023 1Q 1,418,121 shares FY2022 1,416,422 shares
3 Average number of stocks during the period (Quarter Total)
FY2023 1Q 472,766,566 shares FY2022 1Q 472,719,403 shares
*Quarterly financial results is not the object of quarterly review.
*Notes on the proper use of the forecasts
(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 FY2023 1Q and 842,000 shares as of FY2022) . 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. ( 842,000 shares for FY2023 1Q and 897,000 share for FY2022 1Q)
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.
(Reference) Dividends for Class Shares
(Note) At the Board of Directors meeting held on April 28, 2023, the Company resolved to acquire and cancel the Class A preferred shares on
August 1, 2023, subject to the issue of Class B preferred shares and other conditions. Accordingly, the dividend for FY2023 ended March 31,
2024 and dividend forecast for FY2023 on Class A preferred shares has been omitted.
(Note) At the Board of Directors meeting held on April 28, 2023, the Company resolved to submit a proposal for the issue of Class B
preferred shares by way of third-party allotment to the Annual General Meeting of Stockholders and it was approved and adopted at the
meeting.
The dividend forecast for FY2023 ending March 31, 2024 for Class B preferred shares is assumed to become effective as of the date of
issuance which is August 1, 2023.
The breakdown of dividend for class shares which differ in shareholders' rights from common shares is as follows.
1Q 2Q 3Q Year-end Total
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen)
FY2022 ended March 31, 2023 ― 0.00 ― 0.00 0.00
Class A
preferred shares
Annual dividends per share
1Q 2Q 3Q Year-end Total
(Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen) (Unit: yen)
FY2023 ended March 31, 2024 ―
FY2023 ending March 31, 2024(forecast) 0.00 ― 1,933,333.00 1,933,333.00
Class B
preferred shares
Annual dividends per share
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 1Q
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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 FY2023 1Q
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1. Quarterly Consolidated Financial Statements and Notes
(1) Quarterly Consolidated Balance Sheets
(Unit:million yen)
As of March 31, 2023 As of June 30, 2023
Assets
Non-current assets 4,741,917 4,748,478
Electric utility plant and equipment 3,034,210 3,031,485
Hydroelectric power production facilities 273,970 272,133
Thermal power production facilities 224,632 218,894
Nuclear power production facilities 769,301 758,092
Internal combustion engine power production facilities 21,708 21,318
Renewable power production facilities 21,406 -
Renewable power production and related facilities - 21,972
Transmission facilities 678,862 680,644
Transformation facilities 239,681 241,069
Distribution facilities 663,456 663,761
General facilities 131,155 143,590
Other electric utility plant and equipment 10,036 10,007
Other non-current assets 418,165 413,990
Construction in progress 399,521 421,901
Construction and retirement in progress 248,184 267,417
Special account related to nuclear power decommissioning 35,041 33,915
Special account related to reprocessing of spent nuclear fuel 116,295 120,568
Nuclear fuel 224,372 221,538
Loaded nuclear fuel 50,122 58,088
Nuclear fuel in processing 174,249 163,450
Investments and other assets 665,647 659,562
Long-term investments 263,961 270,454
Retirement benefit asset 12,537 13,036
Deferred tax assets 172,337 155,305
Other 218,252 222,177
Allowance for doubtful accounts -1,441 -1,412
Current assets 861,761 773,719
Cash and deposits 295,450 193,987
Notes and accounts receivable - trade, and contract assets 196,439 164,893
Inventories 159,420 167,272
Other 214,031 251,033
Allowance for doubtful accounts -3,581 -3,467
Total assets 5,603,678 5,522,197
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 1Q
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(Unit:million yen)
As of March 31, 2023 As of June 30, 2023
Liabilities
Non-current liabilities 3,845,921 3,819,464
Bonds payable 1,485,000 1,475,000
Long-term borrowings 1,908,852 1,888,628
Retirement benefit liability 80,761 80,424
Asset retirement obligations 297,367 299,128
Deferred tax liabilities 16,437 18,347
Other 57,501 57,934
Current liabilities 1,138,006 1,006,509
Current portion of non-current liabilities 443,506 392,311
Short-term borrowings 124,530 126,130
Commercial papers 40,000 110,000
Notes and accounts payable - trade 141,658 84,291
Accrued taxes 21,407 19,668
Provision for the levies related to Antimonopoly act 2,762 2,762
Other 364,140 271,345
Reserves under special laws 2,519 2,730
Reserve for water shortage 2,519 2,730
Total liabilities 4,986,448 4,828,705
Net assets
Shareholders' equity 565,393 636,850
Share capital 237,304 237,304
Capital surplus 120,006 98,382
Retained earnings 209,734 302,815
Treasury shares -1,651 -1,652
Accumulated other comprehensive income 16,670 23,407
Valuation difference on available-for-sale securities 5,828 7,377
Deferred gains or losses on hedges 11,150 15,090
Foreign currency translation adjustment 6,455 7,125
Remeasurements of defined benefit plans -6,765 -6,186
Non-controlling interests 35,166 33,234
Total net assets 617,230 693,492
Total liabilities and net assets 5,603,678 5,522,197
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 1Q
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(2) Quarterly Consolidated Income Statements and Quarterly Consolidated Comprehensive Income Statements
(Quarterly Consolidated Income Statements)
(Unit:million yen)
April 1,2022-
June 30, 2022
April 1,2023-
June 30, 2023
Operating revenue 436,719 496,524
Electric utility operating revenue 381,621 428,115
Other business operating revenue 55,097 68,408
Operating expenses 483,358 396,305
Electric utility operating expenses 432,205 335,804
Other business operating expenses 51,152 60,501
Operating profit (loss) -46,638 100,218
Non-operating income 6,908 8,557
Dividend income 199 249
Interest income 274 557
Foreign exchange gains 1,527 2,265
Share of profit of entities accounted for using equity method 1,037 3,719
Other 3,869 1,766
Non-operating expenses 7,557 8,087
Interest expenses 6,179 6,881
Other 1,378 1,205
Total ordinary revenue 443,627 505,082
Total ordinary expenses 490,916 404,393
Ordinary profit (loss) -47,288 100,688
Provision or reversal of reserve for water shortage -85 211
Provision of reserve for water shortage - 211
Reversal of reserve for water shortage -85 -
Profit (loss) before income taxes -47,202 100,477
Income taxes - current 821 11,884
Income taxes - deferred -13,587 16,915
Total income taxes -12,766 28,799
Profit (loss) -34,436 71,678
Profit attributable to non-controlling interests 374 220
Profit (loss) attributable to owners of parent -34,811 71,457
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 1Q
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(Quarterly Consolidated Comprehensive Income Statements)
(Unit:million yen)
April 1,2022-
June 30, 2022
April 1,2023-
June 30, 2023
Profit (loss) -34,436 71,678
Other comprehensive income
Valuation difference on available-for-sale securities 748 1,241
Deferred gains or losses on hedges 12,969 3,603
Foreign currency translation adjustment 4,161 412
Remeasurements of defined benefit plans, net of tax -219 550
Share of other comprehensive income of entities accounted for using equity method 4,221 975
Total other comprehensive income 21,881 6,783
Comprehensive income -12,555 78,461
Comprehensive income attributable to
Comprehensive income attributable to owners of parent -13,084 78,195
Comprehensive income attributable to non-controlling interests 529 266
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 1Q
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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