Statements made in this overview of operations regarding our strategies and forecasts and other statements that are
not historical facts are forward-looking statements based on management’s assumptions and beliefs in light of
information currently available and should not be interpreted as promises or guarantees. Owing to various uncertainties,
actual results may differ materially from these statements. Investors are hereby cautioned against making investment
decisions solely on the basis of forward-looking statements contained herein.
(Note)
The English translation is for reference purposes only for the convenience of our English-speaking investors.
In case a difference arises regarding the meaning herein, the original Japanese version shall prevail.
Financial Results for FY2023
(Presentation materials for investors)
April 30, 2024
Attachment
(IR meeting on May 10,2024)
Table of Contents11 Financial Results for FY2023〔Consolidated〕
Note: Consolidated subsidiaries: 50 companies [-1] Equity method companies: 50 companies [+3]
*1Gains sales on of investment securities *2Valuation loss on Overseas Businesses *3Provision for loss on the Antimonopoly Act
FY2023 FY2022 Change %YoY
Ordinary Revenues 2,169.9 2,246.1 -76.2 -3.4
[ Sales : Figures are included above ] [2,139.4] [2,221.3] [-81.8] [-3.7]
Ordinary Expenses 1,931.7 2,332.7 -401.0 -17.2
[ Operating Loss/ Income ] [254.9] [-72.9] [327.9] [-]
Ordinary Loss/ Income 238.1 -86.6 324.7 -
Extraordinary Income - 11.2 -11.2 -
Extraordinary Loss 13.4 2.7 10.7 388.3
Net Loss/Income attributable to
owners of the parent
166.4 -56.4 222.8 -
(Billion of Yen)
Sales decreased for the first time in four years.
Ordinary income recorded profit for the first time in two years.
Net income recorded profit for the first time in two years.
Consolidated Sales : 2,139.4 billion of yen (down 3.7% YoY)
Consolidated Ordinary income : 238.1 billion of yen
Consolidated Net income : 166.4 billion of yen
Regarding the financial results for FY2023, ordinary loss/income and net loss/income attributable to owners of the parent
amounted to a profit, a significant improvement:
- a positive turn in the effect of the time lag of the fuel cost adjustment system, caused by lower fuel prices.
FY2022 it had a negative impact, whereas FY2023 it resulted in a gain.
- decreases in fuel costs, reflecting increased operation of nuclear power stations
- decreases in purchased power costs caused by lower prices on the wholesale electricity market*1*3*2(Billion kWh)2【Consolidated electricity sales volume】
Note1: Some rounding errors may be observed.
Note2: Includes also consolidated subsidiaries Kyushu Electric Power Transmission and Distribution Co., Inc. and Kyuden Mirai Energy Co., Inc.
Intersegment transactions have been eliminated.
Electricity sales volume for retail were 73.5 billion kWh (down 4.0% YoY) caused by decreases in contracted electricity
outside the Kyushu area.
Electricity sales volume for wholesale were 16.7 billion kWh (down 13.9% YoY).
The total electricity sales volume resulted in 90.2 billion kWh (down 6.0% YoY).
FY2023 FY2022 Change % YoY
Retail 73.5 76.5 -3.0 -4.0
Lighting 24.3 24.2 0.1 0.6
Power 49.2 52.4 -3.2 -6.1
Wholesale 16.7 19.4 -2.7 -13.9
Total 90.2 96.0 -5.8 -6.0
1 (1) Factors ➀ Electricity Sales Volume 〔Consolidated〕3(Billion kWh)
Regarding the supply to retail and wholesale customers, we were able to deliver electricity in a stable manner through the
comprehensive operation of power generation facilities, including nuclear power, thermal power, water pumping, etc.
As for supply and demand within Kyushu area, we were able to deliver electricity stably through the operation of regulated
power sources and the implementation of renewable energy output control based on the government rules.
FY2023 FY2022 Change % YoY
Own facilities *1
Hydro 4.4 4.4 - 0.5
[ Water flow rate (%)] [94.2] [88.2] [6.0]
Thermal 25.6 35.5 -9.9 -27.8
Nuclear 31.7 20.1 11.6 57.8
[ Utilization rate (%)] [90.8] [57.7] [33.1]
New Energy, etc. 1.4 1.3 0.1 5.3
Subtotal 63.2 61.3 1.9 3.0
Interconnection・Electricity received from other
companies *2 33.9 41.8 -7.9 -18.7
[ Hydro : Figures are included above ] [1.6] [1.5] [0.1] [6.5]
[ New Energy etc. : Figures are included above ] [19.3] [19.5] [-0.2] [-1.1]
For water pumping, etc. -2.1 -2.3 0.2 -8.7
Total 95.0 100.8 -5.8 -5.7
FY2023 FY2022 Change
Nuclear Power 33.4 19.9 13.5
Renewable Energy * 26.7 25.1 1.6
* Renewable energy represents a
total of Solar, Wind, Biomass,
Waste, Geothermal and Hydro
(excluding pumping) generated by
our facilities and other companies.
(Reference) Ratio of Generated and Received Electricity (%)
*1 Own facilities’ generation means transmission–end figure.
*2 "Interconnection & other companies’’ includes the volume of electricity recognized as of the end of FY2023.
Note: Some parts of electricity that do not use non-fossil certificates have no value of renewable energy and CO2 zero emission power.
Those are treated as electricity with the national average CO2 emissions of electricity, including thermal power generations, etc.
1 (1) Factors 2 Generated and Received Electricity 〔Consolidated〕
Note1: Some rounding errors may be observed.
Note2: The difference between the total amount of generated and received electricity and the total amount of electricity sales volume is the amount of power lost, etc.
Note3: Includes also consolidated subsidiaries Kyushu Electric Power Transmission and Distribution Co., Inc. and Kyuden Mirai Energy Co., Inc..
Intersegment transactions have been eliminated.
【Consolidated】
1 (1) Factors 3 Others 〔Consolidated〕
Crude Oil CIF Price and Exchange Rate
FY2023 FY2022 Change
Crude Oil CIF Price ($/b) 86 103 -17
Exchange Rate (\/$) 145 135 104FY2023 FY2022 Change % YoY Explanations
Sales (Operating Revenue) 2,139.4 2,221.3 -81.8 -3.7 Japanese electric power businesses -96.6
Other Revenues 30.4 24.8 5.6 22.6
Share of profit of entities accounted
for using the equity method:
Figures are included above
[11.7] [9.0] [2.6] [29.0]
Ordinary Revenues 2,169.9 2,246.1 -76.2 -3.4 Japanese electric power businesses -97.5
(Billion of Yen)
Japanese electric power business (Figures are included above)5Sales were 2,139円.4 billion (down 3.7% YoY) and ordinary revenue was 2,169円.9 billion (down 3.4% YoY) caused by
decreases in retail and wholesale sales in Japanese electric power businesses, mainly due to decrease in total electricity
sales volume.
Retail
Before factoring in discount
(nationwide measure to mitigate
sharp fluctuations)
1,386.2
[1,580.1]
1,519.8
[1,565.8]
-133.6
[14.3]
Decrease in retail electricity sales volume -50.0
Unit price difference (Effect of fuel cost adjustments, etc.) -83.5*
Wholesale 202.2 273.0 -70.7 Sold power to other suppliers -68.0
Other 331.6 224.7 106.8
Miscellaneous income 96.7
(Subsidies based on the nationwide measures to mitigate sharp
fluctuations 147.8)
[Sales] [1,911.9] [2,008.6] [-96.6]
Ordinary Revenues 1,920.0 2,017.6 -97.5
1 (2) Ordinary Revenues 〔Consolidated〕
Note: Includes also consolidated subsidiaries Kyushu Electric Power Transmission and Distribution Co., Inc. and Kyuden Mirai Energy Co., Inc..
Intersegment transactions have been eliminated.
* Effect of reaching the upper limit under the fuel cost adjustment system \ 14.0 billion (-22.0 ← -36.0) and the discount from the national government
based on their measures to mitigate sharp fluctuations in electricity and gas rates \ -147.8 billion (-193.9 ← -46.0).
Labor 109.6 109.1 0.5
Fuel 396.4 652.2 -255.7
CIF and exchange gains difference -149.0
Effect of operating nuclear power stations -150.0 *
Purchased power from other
utilities and other suppliers
321.5 618.4 -296.8 Purchased power from other suppliers -292.7
Maintenance 183.6 163.3 20.2 Thermal 11.2 Distribution 8.4
Depreciation 182.4 165.7 16.6 Nuclear 8.5 Transmission 2.4
Interest 22.8 22.6 0.2
Nuclear back-end 78.3 52.0 26.2 Effect of operating nuclear power stations 27.0 *
Other 436.1 363.9 72.2 Miscellaneous expenses 68.8
Ordinary Expenses 1,731.1 2,147.5 -416.3
FY2023 FY2022 Change % YoY Explanations
Operating Expenses 1,884.5 2,294.2 -409.7 -17.9 Japanese electric power businesses -425.4
Other Expenses 47.2 38.4 8.7 22.7
Ordinary Expenses 1,931.7 2,332.7 -401.0 -17.2 Japanese electric power businesses -416.3
(Billion of Yen)6Note : Includes also consolidated subsidiaries Kyushu Electric Power Transmission and Distribution Co., Inc. and Kyuden Mirai Energy Co., Inc..
Intersegment transactions have been eliminated.
* Effect of operating nuclear power stations (fuel costs + nuclear back-end costs) -123.0
Ordinary expenses were 1,931円.7 billion (down 17.2% YoY) caused by decreases in fuel costs reflecting increased operation
of nuclear power stations, lower fuel prices and decreases in purchased power costs caused by lower prices on the wholesale
electricity market.
1 (3) Ordinary Expenses 〔Consolidated〕
Japanese electric power business (Figures are included above)
FY2023 FY2022 Change % YoY
Ordinary Loss/Income 238.1 -86.6 324.7 -
Provision for Reserve for Fluctuation
in Water Levels
-0.2 -5.0 4.8 -94.4
Extraordinary Income - 11.2 -11.2 -
Extraordinary Loss 13.4 2.7 10.7 388.3
Loss/Income Before Income Taxes 224.9 -73.0 297.9 -
Income Taxes 56.6 -18.5 75.2 -
Net Income Attributable to Non-controlling
Interests
1.8 1.9 -0.1 -5.4
Net Loss/Income Attributable to Owners
of the Parent
166.4 -56.4 222.8 -
(Billion of Yen)71 (4) Ordinary Loss/Income and Net Loss/Income Attributable to Owners of the Parent
〔Consolidated〕
FY2023 resulted in ordinary loss/income was 238円.1 billion.
Net loss/income attributable to owners of the parent was 166円.4 billion mainly due to recording of valuation loss on
Overseas Businesses as an extraordinary loss.*Note: Due to a larger-than-expected decrease in power generation output from a geothermal IPP project in Indonesia, a large
deviation from the planned output at time of development has occurred. In accordance with the review of future generation
output assumptions, a valuation loss on the project has been recorded as an extraordinary loss.8-86.6
238.1
(+324.7)
+82.0
+123.0
+126.0
( Reference ) Factors Affecting Consolidated Ordinary Loss/Income
(Compared with FY2022)
Japanese electric power business [+318.7]
Consolidated
Ordinary
Loss/Income
(FY2022)
Effect of operating
nuclear power
stations
Consolidated ordinary
Loss/Income
excluding
the effect of time lag
around -22.6
Effect of the time
lag of fuel cost
adjustments
(-64.0→+62.0)
Effect of lower
wholesale
electricity trading
prices
Others
Consolidated
Ordinary Loss/Income
(FY2023)
Consolidated ordinary
Loss/Income
excluding
the effect of time lag
around 176.1
(Billion of Yen)
-12.3 +6.0
Others
·A part of variance between the standard fuel price and the actual fuel price in the second half of FY2022 appears as increased revenue
from retail sales in FY2023 [around 106円.0 billion]
·A part of variance between the standard fuel price and the actual fuel price of FY2023 is carried over to FY2024 onward, not reflected
in FY2023 as increased revenue from retail sales [around 44円.0 billion]
The above time lags of fuel cost adjustments pushed up FY2023 profit [around 62円.0 billion] (around 126円.0 billion YoY)9( Reference ) Estimate of the effect of time lag of fuel cost adjustments
〔Non-consolidated〕
(Billion of Yen)
238.1
(+38.1)
+12.0
Others
+38.1
200.0
+15.110Consolidated Ordinary Income
(Announced on January,2024)
Consolidated ordinary income
excluding effect of time lag
around 138.0
Effect of lower
wholesale
electricity trading
prices
Consolidated Ordinary Income
(FY2023)
Consolidated ordinary income
excluding effect of time lag
around 176.1
Decrease in
miscellaneous
expenses
+11.0
( Reference ) Factors Affecting Consolidated Ordinary Loss/Income
(Compared with the January forecast)
1 (5) Segment Information 〔Consolidated〕
FY2023 FY2022 Change
Energy
services
businesses
Japanese
electric
power
businesses
Power and Electricity
Sales
Sales 1,819.7 1,930.9 -111.1
Ordinary Loss/Income 147.5 -143.5 291.1
Transmission and
Distribution businesses
Sales 698.4 708.9 -10.5
Ordinary Income 41.3 14.1 27.2
Inter-segment
transactions eliminated
Sales -606.2 -631.2 25.0
Ordinary Loss/Income - -0.4 0.4
Subtotal
Sales 1,911.9 2,008.6 -96.6
Ordinary Loss/Income 188.9 -129.8 318.7
Overseas businesses
Sales 5.7 6.2 -0.4
Ordinary Income 5.3 4.4 0.8
Other energy services businesses
Sales 299.4 261.1 38.2
Ordinary Income 33.9 29.2 4.6
ICT services businesses
Sales 131.4 119.3 12.0
Ordinary Income 7.8 6.5 1.2
Urban development businesses
Sales 28.9 24.9 4.0
Ordinary Income 3.8 3.2 0.6
Others
Sales 9.1 8.7 0.4
Ordinary Income 0.4 0.4 -
Inter-segment transactions eliminated
Sales -247.2 -207.8 -39.4
Ordinary Loss/Income -2.1 -0.7 -1.4
Total
Sales 2,139.4 2,221.3 -81.8
Ordinary Loss/Income 238.1 -86.6 324.7
(Billion of Yen)11[2,001.3]
[6.2]
[108.6]
[87.3]
Note 1: The above amounts represent figures prior to elimination of transactions among segments.
Note 2: Figures in [ ] represent sales excluding transactions among group companies.
Note 3: Overseas fuel projects are included in "Other energy services businesses."
[1,677.5]
[226.7]
[1,747.5]
[253.8]
[13.7]
[3.9]
[5.7]
[1,904.3]
[117.2]
[90.1]
[17.9]
[3.9]
[-69.9]
[-27.0]
[-97.0]
[-0.4]
[8.5]
[2.7]
[4.2][-]FY2023 FY2022 Change % YoY
Ordinary Revenues
[ Sales : Figures are included above ]
1,836.3
[1,819.7]
1,947.3
[1,930.9]
-111.0
[-111.1]-5.7[-5.8]
Ordinary Expenses 1,688.7 2,090.8 -402.1 -19.2
Ordinary Loss/ Income 147.5 -143.5 291.1 -
Sales : 1,819.7 billion of yen (down 5.8% YoY)
Ordinary Loss/Income : 147.5 billion of yen
(Billion of Yen)
Power generation and retail business in Japan, etc.
[Power and Electricity Sales Businesses ]
Sales were 1,819円.7 billion (down 5.8% YoY) caused by decreases in retail sales and wholesale sales, mainly due to
decrease in the total electricity sales volume.
Ordinary income was 147円.5 billion, an improvement of 291円.1 billion.
- a positive turn in the effect of the time lag of the fuel cost adjustment system, caused by lower fuel prices.
FY2022 it had a negative impact, whereas FY2023 it resulted in a gain
- decreases in fuel costs, reflecting increased operation of nuclear power stations
- decreases in purchased power costs caused by lower prices on the wholesale electricity market121 (5) ➀ Power and Electricity Sales Businesses
1 (5) 2 Transmission and Distribution Businesses
FY2023 FY2022 Change % YoY
Ordinary Revenues
[ Sales : Figures are included above ]
700.2
[698.4]
710.9
[708.9]
-10.7
[-10.5]-1.5[-1.5]
Ordinary Expenses 658.8 696.8 -37.9 -5.5
Ordinary Income 41.3 14.1 27.2 193.0
(Billion of Yen)
Transmission and Distribution business within the Kyushu area, etc.
[Transmission and Distribution Businesses]
Sales were 698円.4 billion (down 1.5% YoY), affected by a decrease in wholesale sales along with renewable energy
purchases, mainly due to lower wholesale electricity market prices.
Ordinary income was 41円.3 billion (up 193.0% YoY).
This is caused by decreases in purchase costs from renewable energy and procurement costs from the supply-demand
adjustment market.13Sales : 698.4 billion of yen (down 1.5% YoY)
Ordinary Income : 41.3 billion of yen (up 193.0% YoY)14FY2023 FY2022 Change % YoY
Ordinary Revenues
[ Sales : Figures are included above ]14.8[5.7]12.9[6.2]1.8[-0.4]14.1[-7.5]
Ordinary Expenses 9.4 8.5 0.9 11.0
Ordinary Income 5.3 4.4 0.8 19.9
Share of profit of entities accounted
for using the equity method:
Figures are included above
[4.6] [4.6] [0.02] [0.6]
(Billion of Yen)
Sales : 5.7 billion of yen (down 7.5% YoY)
Ordinary Income : 5.3 billion of yen (up 19.9% YoY)
Sales were 5円.7 billion (down 7.5% YoY) caused by decreases in income from development fees related to transmission
businesses.
Ordinary income was 5円.3 billion (up 19.9% YoY) driven by an increase in foreign exchange gains.
1 (5) 3 Overseas Businesses
Overseas Power generation business, Transmission and Distribution businesses, etc.
[Overseas Businesses]
1 (5) 4 Other Energy Services Businesses
Sales : 299.4 billion of yen (up 14.7% YoY)
Ordinary Income : 33.9 billion of yen (up 16.0% YoY)
(Billion of Yen)
Sales were 299円.4 billion (up 14.7% YoY) and ordinary income was 33円.9 billion (up 16.0% YoY) driven by coal sales as
well by increases in power plant repair works.15Stable energy supply business as construction and maintenance of electrical equipment, Sales of natural gas and LNG
business, Sales of coal business, Renewable energy business, etc.
[Other Energy Services Businesses]
FY2023 FY2022 Change % YoY
Ordinary Revenues
[ Sales : Figures are included above ]
310.3
[299.4]
267.6
[261.1]42.6[38.2]15.9[14.7]
Ordinary Expenses 276.4 238.4 38.0 15.9
Ordinary Income 33.9 29.2 4.6 16.0
Share of profit of entities accounted
for using the equity method:
Figures are included above
[7.4] [4.7] [2.7] [57.0]
1 (5) 5 ICT Services Businesses
Sales : 131.4 billion of yen (up 10.1% YoY)
Ordinary Income : 7.8 billion of yen (up 19.6% YoY)
(Billion of Yen)
Data communications business, Optical broadband service business, Telecommunications construction and maintenance
business, Developments for information system business, Data centers business, etc.
[ICT Services Businesses]
Sales were 131円.4 billion (up 10.1% YoY) and ordinary income was 7円.8 billion (up 19.6% YoY) driven by increases in
contracted information system development as well by increases in solution service revenues in the data communication
business.16FY2023 FY2022 Change % YoY
Ordinary Revenues
[ Sales : Figures are included above ]
133.7
[131.4]
121.5
[119.3]12.1[12.0]10.0[10.1]
Ordinary Expenses 125.8 115.0 10.8 9.4
Ordinary Income 7.8 6.5 1.2 19.6
Share of profit/loss of entities
accounted for using the equity
method:
Figures are included above
[-] [0.09] [-0.08] [-91.8]
1 (5) 6 Urban Development Businesses
Sales : 28.9 billion of yen (up 16.2% YoY)
Ordinary Income : 3.8 billion of yen (up 18.9% YoY)
Urban development business, Real estate business, Social infrastructure business, etc.
[Urban Development Businesses]
Sales were 28円.9 billion (up 16.2% YoY) due to increases in sales of all-electric condominiums.
Ordinary income was 3円.8 billion (up 18.9% YoY) mainly due to increases in share of profit of entities accounted for using
the equity method.17(Billion of Yen)
FY2023 FY2022 Change % YoY
Ordinary Revenues
[ Sales : Figures are included above ]30.7[28.9]25.9[24.9]4.7[4.0]18.3[16.2]
Ordinary Expenses 26.8 22.7 4.1 18.2
Ordinary Income 3.8 3.2 0.6 18.9
Share of profit/loss of entities
accounted for using the equity
method:
Figures are included above
[0.24] [0.01] [0.23] [-]
Mar.31, 2024 Mar.31, 2023 Change
Assets 5,727.2 5,603.6 123.5
Liabilities 4,806.1 4,986.4 -180.2
Interest-bearing Debt:
Figures are included above
[3,765.4] [3,991.5] [-226.0]
Equity 921.0 617.2 303.8
Equity Ratio (%) 15.5 10.4 5.1
(Billion of Yen)
2 Financial Status for FY2023〔Consolidated〕
Assets were 5,727円.2 billion (an increase of 123円.5 billion from the end of FY2022) due to an increase in fixed assets by
capital investment and an increase in current assets such as cash and deposits.
Liabilities were 4,806円.1 billion (a decrease of \-180.2 billion from the end of FY2022) due primarily to a reduction in
interest-bearing debt.
Equity was 921円.0 billion (an increase of 303円.8 billion from the end of FY2022) due primarily to the issuance of Class B
preferred shares, the cancellation of Class A preferred shares, and net income attributable to owners of the parent.
As a result, equity ratio increased by 5.1 points to 15.5% compared with the end of FY2022.183 Year-end Dividends for FY2023
In terms of the year-end dividends for FY2023, based on a comprehensive analysis of results for FY2023 and medium to
long-term balance situation, financial and other factors, we plan to pay a dividend of 25円 per common share.
As for the Class B preferred share, we plan to pay a dividend of 1,933,333円 per share.
Note: Year-end dividends for FY2023 will be finally decided at the 100th General Meeting of Stockholders to be held on June 26, 2024.19Sales are expected to be approximately 2,200円.0 billion, exceeding FY2023, mainly due to an increase in the total
electricity sales volume despite of a decrease in unit price of retail electricity sales caused by the fuel cost adjustment
system.
Ordinary income is expected to be approximately 110円.0 billion, lower than FY2023, despite the increase in sales.
The decrease in ordinary income is caused by the following factors: the decrease in the profit on the time lag of fuel cost
adjustments due to lower fuel price, as well as the increase in purchased power costs caused by higher prices on the
wholesale electricity market.
Net income attributable to owners of the parent is expected to be approximately 80円.0 billion, lower than FY2023.204 Financial Forecasts for FY2024
Expect
• increase in Sales for the first time in two years
• profit in Ordinary income and Net income for 2nd year in a row
Consolidated Sales :2,200.0 billion of yen (up 2.8% YoY)
Consolidated Ordinary income : 110.0 billion of yen (down 53.8% YoY)
Consolidated Net income : 80.0 billion of yen (down 51.9% YoY)214 Financial Forecasts for FY2024
FY2024 FY2023 Change % YoY
Sales 2,200.0 2,139.4 60.6 2.8
Operating Income 130.0 254.9 -124.9 -49.0
Ordinary Income 110.0 238.1 -128.1 -53.8
Net Income attributable to
owners of the parent
80.0 166.4 -86.4 -51.9
FY2024 FY2023 Change
Retail (billion kWh) 73.4 73.5 -0.1
Wholesale (billion kWh) 23.8 16.7 7.1
Total Volume (billion kWh) 97.2 90.2 7.0
Crude Oil CIF Price ($/b) 85 86 -1
Exchange Rate (\/$) 145 145 -
Nuclear
transmission-end figure (billion kWh)
[Utilization rate (%)]30.7[88.1]31.7[90.8]-1.0[-2.7]
(Billion of Yen)
(Reference) Key Factors
Note: Electricity sales volume includes also consolidated subsidiaries Kyushu Electric Power Transmission and Distribution Co., Inc.
and Kyuden Mirai Energy Co., Inc.
Intersegment transactions have been eliminated.
(Billion of Yen)
110.0
-49.0
Others
-128.1
238.1-8.022
Consolidated Ordinary Income
(FY2023)
Consolidated ordinary income
excluding effect of time lag
around 176.1
Effect of unit price of
wholesale electricity
trading
Consolidated Ordinary Income
(FY2024 Forecast)
Consolidated ordinary income
excluding effect of time lag
around 97.0
-49.0
( Reference ) Factors Affecting Consolidated Ordinary Income (Compared with FY2023)
-22.1
Effect of the time
lag of fuel cost
adjustments
(+62.0→+13.0)
Effect of operating
nuclear power
stations
5 Forecasts of Dividends for FY2024 23
Regarding forecasts of dividends for FY2024, based on a comprehensive analysis of financial forecasts for FY2024 and
medium to long-term balance situation and financial and other factors, we plan to pay the dividend of 50円 per common
share (25円 for both interim and year-end dividend).
As for Class B preferred shares, we plan to pay dividend of 2,900,000円 per share (1,450,000円 for both interim and year-
end dividend).
Appendix
FY2023 FY2022 Change % YoY
1,386.2 1,519.8 -133.6 -8.8
(Billion of Yen)
FY2023 FY2022 Change % YoY
202.2 273.0 -70.7 -25.9
Retail sales Wholesale sales
(Billion of Yen)242. Decrease in retail electricity sales volume -50.0
1. Sold power to other suppliers -68.0
Revenues from Retail sales and Wholesale sales
〔Japanese electric power businesses〕
1. Unit price difference
(Effect of fuel cost adjustments, etc.) -83.5
Change Change25Others
FY2023 FY2022 Change % YoY
331.6 224.7 106.8 47.5
(Billion of Yen)
Revenues from Others〔Japanese electric power businesses〕
1.Miscellaneous income 96.7
(Subsidies based on the nationwide measures to mitigate sharp fluctuations* 147.8)
Change
* Discount amount based on measures to mitigate sharp fluctuations in electricity
and gas rates(governmental decision in October 2022 )
(Billion kWh)
Retail
FY2023 FY2022 Change % YoY
73.5 76.5 -3.0 -4.0
Wholesale
FY2023 FY2022 Change % YoY
16.7 19.4 -2.7 -13.9
【Reference】Electricity sales volume
(Billion kWh)
1. Purchased power from other suppliers -292.726FY2023 FY2022 Change % YoY
396.4 652.2 -255.7 -39.2
1. CIF and exchange gains difference -149.0
2. Effect of operating nuclear power stations -150.0
Fuel Purchased power
FY2023 FY2022 Change % YoY
321.5 618.4 -296.8 -48.0
(Billion of Yen) (Billion of Yen)
Expenses for Fuel and Purchased power〔Japanese electric power businesses〕
FY2023 FY2022 Change
Coal($/t) 199 358 -159
LNG($/t) 650 931 -281
Crude oil($/b) 86 103 -17
【Reference1】 All Japan CIF prices
【Reference2】 Fuel consumption
FY2023 FY2022 Change
Coal (ten thousand ton) 535 738 -203
LNG (ten thousand ton) 158 213 -56
Heavy oil (ten thousand kiloliter) 1.4 0.7 0.7
Change Change27FY2023 FY2022 Change % YoY
183.6 163.3 20.2 12.4
FY2023 FY2022 Change % YoY
182.4 165.7 16.6 10.1
Maintenance Depreciation
(Billion of Yen) (Billion of Yen)
Expenses for Maintenance and Depreciation 〔Japanese electric power businesses〕
1. Thermal 11.2
Change
1. Nuclear 8.5
Change
2. Transmission 2.4
2. Distribution 8.4
(Billion of Yen)
Others
Labor28(Billion of Yen)
FY2023 FY2022 Change % YoY
109.6 109.1 0.5 0.5
FY2023 FY2022 Change % YoY
537.3 438.6 98.7 22.5
1. Miscellaneous expenses 68.8
Expenses for Labor and Others 〔Japanese electric power businesses〕
Change
2. Nuclear back-end 26.229Free cash flows 〔Consolidated〕30Forecasts of Financial Results for FY2024
Effect of Fluctuations related to Key factors
Key factors
(FY2024)
Effect of fluctuations*
Crude Oil CIF Price ($/b) 85
(High crude oil price per 1$/b)
Around -0.1 billion of yen
Exchange Rate (\/$) 145
(Depreciation of the yen per 1\/$)
Around -0.5 billion of yen
Nuclear
transmission-end figure (billion kWh)
[Utilization rate (%)]30.7[88.1]
(Per +1%)
Around +3.0 billion of yen
* The impact on performance if key factors fluctuate in FY2024.
For more information, please contact:
Investor Relations Group
Corporate Strategy Division
KYUSHU ELECTRIC POWER CO.,INC.
TEL : +81 92 726 1575
URL :https://www.kyuden.co.jp/english_ir_index.html