Presentation materials for IR meeting
November 7, 2022
President & Chief Executive Officer
Kazuhiro Ikebe
Section1 Management environment
Section2 Performance Highlights
Section3 Progress on Financial Targets
Section4 Business Topics
(Attachment)Financial Results for 2Q FY2022
Section 1 Management environment
Management environment surrounding the Kyuden Group
Strengths of the Kyuden Group12
Contents
Future initiatives 3
Management environment surrounding the Kyuden Group 1
LNG: $/MMBtu Coal: $/t
LNG spot price (JKM) / Coal price (Australian thermal coal)
Fuel prices hike
Future image of decarbonization investments
Increase of decarbonization-
related investments
Electricity
crunch
Increasing
market
liberalization
Nuclear Power
Prime Minister’s instructions at the 2nd GX Implementation Council meeting (related to nuclear energy)
・making maximum use of existing nuclear power plants by extending its operational life span on the premise of safety assurance
・developing and building next-generation innovative reactors that incorporate new safety mechanisms
PM instructed to accelerate considerations on matters requiring government decision-making, including the above, so that decisions can be
reached by the end of the year.
Market price hike
円/kWh
JEPX price (System price)
Average
investment
15円 trillion
per year
Amount of investment
Early 2020 2030 2030s
Government
support
for decarbonizati
on investments
Approx. 17円 trillion / year
Expansion of
investments
Approx. 150円
trillion over ten
years
Source: Interim Summary – Clean Energy Strategy by the Industrial Science and Technology
Policy and Environment Bureau, Agency for Natural Resources and Energy(2022年5月13日)01503004506000255075100
Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22
LNG Coal010203040506070
Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22
Yen/kWh
Strengths of the Kyuden Group 2
Number of reactors in operation
Cleared the New Regulatory Requirements ahead of other electric
utilities to resume the operation of all four nuclear reactors
4/4 units
Zero emission / FIT power source ratio
In addition to nuclear energy, promote development, operation and sales
of the five renewable power sources (solar, wind, hydro, geothermal and
biomass energy)55%Fuel cost
reduction
Amount of renewable
energy developed
2.55 million kW
CO2 reduction by energy
from zero emission / FIT
power sources
17.64 million tons
Frontrunner in nuclear power usage and zero-emission / FIT power source ratioCO2mitigation
Stable
electricity
supply
Kyuden taps into its strengths to turn changes in management environment into opportunities
Nuclear Power Station Utilization Rate
Kyuden’s zero emission / FIT power source ratio
※(注記)
※(注記)
※(注記)
Kyushu Electric
National averageFYZero emission
/ FIT power
source ratio55%Nuclear
energy35%※(注記)FY2021
※(注記)
Section 4 Business topics
Section 2 Performance highlights
Future initiatives 3
Minimizing decline in profits this fiscal year and ensuring a V-shaped recovery
next fiscal year
Steadily making progress towards financial targets and restoring financial
foundation
Responses to decarbonization and other long-term trends
ShorttermMidtermLongtermSection 3 Progress on financial targets
Section 2 Performance Highlights
Financial Results for 2nd Quarter of FY2022 (consolidated)
Forecasts of Financial Results and Dividends for FY2022467(Table of Contents)
Major factors causing income/expense fluctuations in 2nd half year8(Reference) Improving business performance in FY2023
Financial Results for 2nd Quarter of FY2022 (consolidated) 4
(Billion of Yen)
Performance Highlights (consolidated)
FY2022 2Q FY2021 2Q DifferenceRateof Change
Ordinary Revenues 1,025.2 777.7 247.5 31.8%
Sales [figures are included above] 1,010.6 771.5 239.1 31.0%
Ordinary Expenses 1,103.1 711.9 391.1 54.9%
Ordinary Loss/ Income -77.8 65.7 -143.6 -
Extraordinary Income 11.2 - 11.2 -
Net Loss/ Income attributable
to owners of the parent
-47.6 45.3 -93.0 -
(Reference)
Ordinary Loss/ Income
excluding effect of time lag
24.2 89.7 -65.5 -73.0%
Regarding the financial results for FY 2022 2Q, they amounted to a loss due to the time lag
loss stemming from the fuel cost adjustment system expanded compared with FY2021 2Q
due to rising fuel prices. In addition to this loss, there was an increase in purchased power
costs due to higher prices on the wholesale electricity market and higher fuel costs because of
a decrease in operating nuclear power stations.**Gains sales on of investment securities5Financial Results for 2nd Quarter of FY2022 (consolidated)
 Total amount of electricity sales volume has increased by 1.9% from last year.
 Retail electricity sales volume are at a similar level as FY2021 2Q. This similar level was
caused by the following 2 factors: an increase in sales volume due to the higher temperatures
during summer in comparison with the previous year and an increase in contracted electricity
within the Kyushu area, although there was a decrease in contracted electricity outside Kyushu.
Wholesale sales volume increased by 12.1%
(Billion kWh)
Consolidated electricity sales volume
FY2022 2Q FY2021 2Q DifferenceRateOf Change
Retail 38.9 39.0 -0.1 -0.3%
Lighting 11.2 11.3 -0.1 -0.7%
Power 27.6 27.7 ― -0.2%
Wholesale 9.7 8.6 1.1 12.1%
Total 48.5 47.6 0.9 1.9%
Note1: Some rounding errors may be observed.
Note2: The figures represent our company and consolidated subsidiaries (Kyushu Electric Power Transmission and Distribution Co., Inc. and Kyuden
Mirai Energy Co.,Inc.) (internal transactions have been eliminated).
Forecasts of Financial Results and Dividends for FY2022 6
 Both forecast for Sales and Ordinary Income have not been decided yet because it is
difficult to calculate the forecast values due to 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.
 To our regret, we will not be able to pay interim dividends for both common shares and
class A preferred shares.
 Regarding the forecast of year-end dividends for FY2022, both common shares and class
A preferred shares have not been decided yet due to continuation of the extremely
uncertain situation in Russia and Ukraine, which impacts fuel prices and the recent
fluctuations in foreign exchange rates. We will continue to make efforts to maintain a certain
level of dividends.
 We will provide an update as soon as it is possible to make a sufficiently reliable forecast
for FY2022.
Major factors causing income/expense fluctuations in H2 7
Improving the nuclear utilization rate
Acceleration of inspection period regarding specific
safety facilities
Fuel prices exceed
fuel cost adjustmentcapWholesale electricity
market price
Fuel costs
Fluctuation risks Direction of response
Reducing contracts that include a cap*
Removing the cap for customers supplied under
optional supply provisions from October onwards
Electricity sales measures
Retail within Kyushu: review sales prices in view of
recent fuel prices
Retail outside Kyushu: Adjust sales volume and review
prices
Expansion potential in wholesale, etc.
Increase nuclear operation for potential expansion of
wholesale in line with supply-demand trend
Streamlining
Working on group-wide efforts to maximum streamlining
Nuclear utilization rate
1st half year (actual) 2nd half year (estimate)
49.9% 62.4% * Fuel cost adjustment caps exist for some low voltage contracts.8Improving business performance in FY2023 (Reference)
■しかく High nuclear utilization rate and other factors will reduce the impact of high fuel
prices and lead to a V-shaped recovery in FY2023.91%56%90%2021年度
(実績)
2022年度
(計画)
2023年度
(計画)
Nuclear utilization rate in FY2023
・Mitigating the increase in fuel costs
・Increasing output generated electricity to further expand
sales volume and create surplus fuel volume
・Increasing zero-emission power source ratio in the
powermix to boost sales of non-fossil fuel certificates
Reviewing sales strategy Increased efficiency
Increasing profitability of
growth business
Higher nuclear output will improve profitability
⇒Enhancing resilience to high fuel price and market price
(31.9billion kWh)※(注記)
※(注記)Power generation volume (transmission end)
FY2021
(actual)
FY2022
(plan)
FY2023
(plan)
459.8 $/t
62.7 $/MMBtu0.017.535.052.570.00.0
150.0
300.0
450.0
600.0
Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22
Coal LNG
36円.7 /kWh0.010.020.030.040.0Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-229Transition of fuel cost / market price*1 (Reference)
*1 Figures shown are JKM spot price for LNG, Australian thermal coal spot price for coal and system price for JEPX, all in
weekly average.
*2 Based on "Progress of full liberalization of the retail electricity and gas markets" (10/17/2022) by the METI, as of end of
Sep 2022
Number of retail electricity businesses that
have exited the market or suspended
operation *2
98 cases
(LNG:$/MMBtu)
(Coal: $/t) (JEPX:yen/kWh)
(Reference)Dividend policy 10
 Determine the level of dividend payout based on the stance of maintaining a stable payout and taking
into account this fiscal year’s business performance as well as mid- to long-term account balance and
fiscal conditions.
 Work toward to restore dividends to the "pre-Great East Japan earthquake" level (around 50 yen) as
quickly as possible during the financial target period (by FY2025).
Dividend trends5152030
35 35 40
2015 2016 2017 2018 2019 2020 2021
(Yen/share)
(Fiscal Year)50Once the dividend amount returns
to 50,円 we will aim to further
increase shareholder returns by
considering the return of profits
based on the growth of other
businesses than the Japanese
electric power business, while
maintaining the basic policy of
stable dividends.
Section 3 Progress on Financial Targets
(Table of Contents)
Progress of growth businesses toward achieving fiscal targets
Summary 111213
Cashflow / balance sheet improvement for a solid fiscal foundation
■しかく Growth business segments are progressing steadily toward meeting the income target for FY2025.
■しかく The domestic electricity business saw a temporary downturn in FY2022 but is expected to recover
from the next year onwards.
Summary 11
(Billion of Yen)
FY2021
(actual)
FY2022 2Q
(actual)
FY2025
(target)
Progress in FY2022
Ordinary
Income
Japanese electric
power business
excluding the effect of time lag of
fuel cost adjustments2.1167.1- 98.53.575.0
(impact time lag effect is -65.0 for FY2021 and -102 for FY2022)
Total growth businesses 33.8 20.1 50.0
(includedinline
above)
Renewable
energy
2.6 4.8 13.0
・Income increase from new capital developments
(+) the operation launch of the Shimonoseki Biomass
plant (75,000kW).
Overseas 1.4 3.1 7.0
・Income increase from participated projects and foreign exchange gains
(+) foreign exchange gains
ICT Services 6.1 1.4 10.0
・Depreciation cost increase associated with sales expansion of the optical
broadband business
(+) Increase of IT systems development and telecommunications equipment
(-) Increase of depreciation costs of the optical broadband business
Urban
Development
3.8 1.2 5.0
・Cost increase despite the increase of property leasing revenues
(-)Temporary increase of repair costs, etc.
Inter-segment
transactions eliminated
-3.5 0.6 -
Total
excluding the effect of time
lag of fuel cost adjustments32.3197.3
-77.824.2125.0
Equity ratio 12.1% 11.0%
approx.20%3013040707010030501001502020実績 既決定案件 2025年
目標
再エネ事業
海外事業
ICT事業
都市開発事業
その他9.019.99.615.03.03.81.25.07.06.11.410.05.01.43.17.03.02.64.813.0
Progress of growth businesses toward achieving fiscal targets 12
Main projects in which investment has been made or approved
Ordinary income / investments for growth businesses50.027.0
Ordinary income (Billion of Yen)
Cumulative total investment for
FY2021 and onwards(Billion of Yen)
Segment Main examples
Renewable
energy
business
・Biomass:180 MW
Ishikari, Hirohata, Tahara, and others.
・Solar / hydro:120 MW
Redevelopment of Takeda Hydro Power Station, and others
・Geothermal:5 MW
Mt. Eboshi, Kirishima
・Wind power:220 MW
Hibikinada Offshore Wind Farm
Overseas
business
・UAE: HVDC subsea transmission project
・Uzbekistan: Gas-fired thermal power plant
・Philippines: Invested in a renewable energy developer
Urban
develop-mentbusiness
・Fukuoka Maizuru Square office development (opened in April 2022)
・Commercial facility development at the former site of fresh produce market in
Fukuoka City (opened in April 2022)
・Development of Denki Bldg. at Nagasaki Railway Station (opened in FY2022)
・Development of apartment compound in Portland, USA (to be completed in
FY2023)
・Use of the former site of Niagemachi Elementary School, Oita City (to open in
FY2024)
・Development of sustainable apartment compounds in southern USA
[4 properties] (to start construction by 2023 and to be completed within 2
years)50090% of the
target
Note : highlighted projects that are due to go operational in or after FY2022
The output for the hydropower plant shows the figure after replacement / update.33.8 90% of the 50円 billion set as ordinary income target for growth business by FY2025 is projected to
be obtained from projects in which we have either already invested or have already decided to invest.
Projects already
decided
FY2020 Target for
FY2025
Renewable energy business
Overseas business
ICT business
Urban development business
Others
FY2021
Note : Due to a change in the reporting segments in the financial statements,
Overseas fuel projects are included in "Others".20.1FY2022.2Q132015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
FCF 原子力安全対策投資
Investment in nuclear
safety measures
Nuclear safety investment and FCF outlook (image)
Installation of SSF
to Genkai NPS
Installation of SSF
to Sendai NPS
営業CF
3,400
電気事業
投資等
1,700
成長投資
1,000FCF700
FCF-increasing factors other than reduced nuclear investments
 Recovered nuclear power utilization rate boosting income
 Increase returns from growth business investment
 Reduced fixed costs from increased efficiency
Cashflow / balance sheet improvement for a solid financial foundation
■しかく Aiming to achieve positive FCF from FY2023 onwards through increased operational CF and
reduced capital investments following the completion of SSF (special safety facilities) installation at
Genkai NPS
■しかく Using the created CF to strengthen the fiscal foundation by way of increasing shareholder returns
and reducing interest-bearing liabilities
OperationalCF340.0
Electricity
business
invest-
ments
170.0
Growth-
oriented
invest-
ments
100.0FCF70.0
Enhancing shareholder returns
reducing interest-bearing liabilities
(Improving the equity ratio)
Expanding income for growth
business segments
Aim for equity ratio of around20%50-yen dividend payout as early
as possible before fiscal target
deadline (FY2025)
(Billion of Yen)
CF vision for FY2025
Introducing ROIC-based management (Reference) 14
■しかく Improving corporate value through the management style that is more conscious of capital efficiency
and capital cost, while achieving income expansion and balance sheet management at the sametime✓ Self-directed and independent improvements to ROIC by business segments
Setting a ROIC target for each business segments and monitoring progress
✓ Strengthening portfolio management
Reviewing the allocation of management resources as appropriate to optimize business portfolio
Purpose of introducing the ROIC concept
Domestic electricity
business
Ensure ROIC greater than the Cost of Capital (COC) on a consistent basis,
balancing efficiency and stable power supply
Growth businesses
Selecting and concentrating business projects / investments to achieve
ROIC significantly greater than the COC over the mid- to long-term
ROIC is due to be introduced to internal management this fiscal year with targets to be
released publicly next year.
Section 4 Business topics
Table of Contents
Maximizing the use of nuclear energy
Achieving carbon neutrality
Adopting renewables as main power sources
Promotion of DX (digital transformation)1516171820Deployment of storage batteries
Promotion of ESG management 1915Achieving Carbon Neutrality
Implement the following initiatives to become "carbon negative" by 2050 as early as possible
・ Net zero greenhouse gas (GHG) emissions throughout our supply chain.
・ Contribute to the reduction of society's GHG emissions through promoting electrification and the
development of renewable energy outside the Kyushu region.
Turn renewables into a main
power source
Low-carbonization of thermal
power generation
Higher electrification rate for
Kyushu
Renewable energy development volume
5 GW(in and outside Japan)
・Achieving benchmark indicators
under the energy conservation act
・Establishing technology for co-firing
1% hydrogen and 20% ammonia
Electricity volume increase:
Household sector 1,500 GW
Commercial sector 1,600 GW
Transportation sector 100% EV company fleet
Note : The electricity volume sold as shown above is
the cumulative total for 2021 – 2030.
Goals for 2050
Management targets and progress for FY2030 (environmental targets)
▲さんかく60%
▲さんかく65%60%70%100%49%60%100%
2021 2030 2050
Contribution to the electrification of Kyushu
Promotion of renewable energy development outside Kyushu and overseas
CO2 absorption through adequate woodland management, etc.
Electrification rate
Household
Commercial
Maximizing the use of nuclear energy 16
■しかく Steadily installing SSF at Genkai NPS and made efforts toward extending the lifespan of Sendai NPS
■しかく Maximizing the use of nuclear energy on the promise of safety
Genkai Nuclear Power Station
Outage periods due to inspections (notice issued on October 18, 2022)
Sendai Nuclear Power Station
✓ Application submitted on 12 Oct. to extend the plant’s
lifespan to 60 years
Requested extension period
✓ Duration outage periods shortened as below in
view of the current progress of SSF installation
Developing and building next-generation innovative
reactors
✓ Four electric utilities that own PWR plants, including
Kyuden, participated in the basic design for the
advanced light-water reactor project, led by
Mitsubishi Heavy Industries.
Operation extension
commencement date
Operation extension completiondateExtension
period
Unit 1 July 4, 2024 July 3, 2044 20 years
Unit 2 November 28, 2025 November 27, 2045 20 years
Increase in the number of
operational days
Unit 3: Approx. 1 month
Unit 4: Approx. 7 days
Before After
Unit 3
16th inspection period
(operation suspension
period)
1/21/2022 〜
1/20/2023
1/21/2022 〜
12/17/2022
Unit 4
15th inspection period
(operation suspension
period)
9/12/2022〜
2/23/2023
9/12/2022〜
2/16/2023
Underlined dates: Dates when power generation resumes. The plants will return to
commercial operation approx. 1 month later.
52.5% 56.2%
変更前 変更後
before after
Change in utilization rate due to shortened outage period
(through FY2022)17Adopting renewables as main power sources
■しかく Making group-wide efforts to promote renewable development in and outside Japan, including
geothermal, hydro, offshore wind energy and biomass, while making maximum use of FIT and FIP
to secure profitability
Promoting development in and outside Japan
Developing new geothermal sites
➢Geothermal resource surveys are underway at seven sites
in and outside Kyushu.
➢Preparation is underway to start construction work at the Mt.
Eboshi site in Kirishima, Kagoshima in June next year.
Steadily promoting hydro development and replacement work
➢Planning to renovate about 60 plants to improve profitability
by 2030
Promoting the development of offshore wind farms
➢Hibikinada Offshore Wind Farm (maximum output: 220,000
kW). First project under the revised Port and Harbor Act;
start construction by the end of FY2022
➢Making use of know-how to join in project biddings for
multiple sites and promote development
Collaborating with internal and external companies overseas
➢Investing in Philippine’s renewable energy development
business, PetroGreen
・電力販売
・火力
・原子力
・地熱(大規模)
・水力(大規模)
・地熱(バイナリー)
・水力(小水力)
・風力(洋上/陸上)
・太陽光
・バイオマス
九州電力 九電みらいエナジー
Company structure
 Considering the establishment of a company that
combines all renewable energy businesses
• Integrating renewable energy functions, spread across the
Group, to accelerate growth
Current distribution of renewable energy business
・Electricity sales
・Thermal power
・Nuclear power
・Geothermal power
(large scale)
・Hydro power
(large scale)
・Geothermal power
(binary)
・Hydro power
(small scale)
・Wind power
(offshore / onshore)
・Solar power
・Biomass power
Kyuden Kyuden Mirai Energy18Deployment of storage batteries
■しかく Deploying storage batteries as an initiative that contributes to effective use of renewable energy and
stable supply of electricity
Joint project with NTT Anode Energy and
Mitsubishi Corp
Launch of the Omuta power storage station
• In August 2022, Kyuden collaborated with
NExT-eS to launch the operation of the
Omuta power storage station using
secondhand storage batteries.
• Trading on the electricity market to generate
new income
• The number of secondhand batteries is
expected to increase with the growth of
electric vehicles.
View of the Omuta power storage station
(Output 1,000kW; power storage capacity: 3,000kWh)
• Exploring a joint project that uses grid storage
batteries to mitigate the level of output control
(installation in FY2022 and operation to
commence in FY2023)
Project vision
• Providing power generation opportunities to
licensees by way of charging with surplus
renewable energy
Power station subject to
output control
In order to maximize the integration of
solar power generation, we will use
surplus electricity for charging
Effective use of
surplus electricity
Installing storage batteries at the three
companies’ related facilities sites
Supply-demand
regulation market
Capacity market
Wholesale
electricity market
Grid network
Trading on various markets
Promotion of ESG management 19
■しかく Implementing company-wide initiatives to create both social and economic values, thereby further
promoting ESG management
・Improving corporate value through sustainability management
Kyuden Group’s Integrated Report 2022 (issued in September 2022)
✓ Conducting in-depth scenario analysis of the impact of climate change on the Kyuden group in order to
quantify financial impact of each scenario driver
✓ Provides further clarification on Kyuden’s Sustainability
Management initiatives
✓ Examines how the initiatives to resolve issues, based on the
materiality identified in April, will lead to sustainable corporate
value
・Enhancing the quantification of financial impact based on TCFD recommendations
✓ Breaks down the solution-finding initiatives that
lead to corporate value into three categories
✓ Described initiatives for the domestic electricity
business and growth business segments from
the above perspectives 1. Maximize short-term opportunities
2. Expand medium- to long-term opportunities
3. Reduce risk
Promotion of DX (digital transformation) 20
■しかく By drastically reforming our business operations and work processes as part of our "corporate
transformation" we aim to create new business, expand income and boost productivity
✓ Focus areas of Kyuden Group’s DX
• Structural reform of the ICT foundation
• Work reform
▸Automating and centralizing on-site work
▸Advancing supply-demand administration
▸Making cross-functional use of data
⇒Boosting business value and work productivity
Promoting initiatives across the Kyuden Group to create new business
and expand income
Hirameki-to-kyoso (Inspiration and co-creation : Open innovation
program for co-creating new business with startups
Q-ie Mamori : Service designed for real estate companies, using smart
meter data and unique analysis technology (supporting elderly people
who live alone)
• Innovation (offensive DX)
Numerical target (reference)
• Cost performance through work reform and ICT
foundation‘s structural reform
30 billion yen
※(注記)Cumulative total up to 2030
• HR development and literacy improvement for DX
Providing specialized training to human resources with DX aptitude
regardless of their age or work title according to their level
⇒ Developing human resources who have skills and can lead
fundamental reforms
Work reform using digital
technology
Innovation
HR development and literacy
improvement for DX
Promoting agile software
development
Promoting data use
Structural reform of
the ICT foundation
Two pillars of the reform
DX Roadmap
Reference material
Growth business : Overseas business
Growth business : Urban development business2225292328Response to fuel procurement risks 21
Formulated transition loans
Growth business : Renewable Energy Business
Growth business : ICT service business21Response to fuel procurement risks
(if LNG supply from Russia stops)
FY2022
Negotiate with existing long-term contractors for extra volumes and consider to bring forward supplies
and time-swap deals
After FY2023
As long as large power sources such as nuclear power are operating stably, there is no need to
secure an extra amount.LNG• Most of the required volume has been secured with long-term contracts.
• Procurement from the Sakhalin-II project: Approx. 500,000 tons / yearCoal• While procurement prices have been rising due to soaring spot market prices, we are taking
measures to reduce procurement costs by diversifying procurement periods, procure agreements
at fixed-price, expanding the use of low-grade coals and considering the use of coking coal.
• This year, we procure from countries other than Russia as there is no long-term supply contract
with the country.22Formulated transition loans
■しかく First business in Japan to be certified as eligible for transition loans under the performance-based
interest subsidy program
■しかく Eligible for government’s interest subsidy (an interest rate of 0.2% through business subsidies) on
the condition that we achieve the environmental targets set in the business adaptation plan.
■しかく Certification of compliance with various standards associated with transition loans has been
obtained from an external assessment organization.
Overview of the transition loan (tentative)
Loan amount 50 billion yen
Loan period 10 years
Loan timing November 2022
Lender
Syndicate group of financial institutions
designated
under the PFS interest subsidy system
Arranger and structuring agent Mizuho Bank
Kyuden Green Bond Issued in June 2021 for the amount of 15.0 billion yen; Used for initiatives
toward achieving renewable energy development targets
Kyuden Transition Bond
First issuance as a formal general electric utility in May 2022 for the amount
of 55.0 billion yen; Used for the development of cutting-edge LNG power
plants and other initiatives
Past Green Transition Finance examples
Growth business : Renewable Energy Business 23
Ordinary Income (Billion of Yen)
 Making group-wide efforts to steadily progress existing projects while also developing new
projects (e.g. offshore wind farms, geothermal power generation) and upgrading existing
hydropower facilities.
Shimonoseki Biomass
Power Plant
(lstarted February 2022)
Note: Due to rounding of figures they may not match the sum.
FY2021 FY2022 2Q
FY2025
Target
Main initiatives for FY2022
Renewable Energy
Business
2.6 4.8 13.0
・Steadily progressing existing projects
・Developing new projects including offshore wind farms, geothermal /
hydro / biomass / solar power facilities
・Partnering with renewable energy development companies to expand
renewable energy business overseas
Offshore wind: Kitakyushu Hibikinada Offshore Wind Farm 220 MW
(start operation in FY2025)
Geothermal: Preparation for power plant construction at Mt. Eboshi, Kirishima
(start operation in FY2024) and development investigation at six
other sites in and outside Kyushu
Biomass: Ishikari: Approx. 50MW (start operation November 2022)
Hydro: Shin-Takeda: Approx. 8MW (upgraded in June 2022)
Mid-term plan
・Promote the development of biomass and offshore wind
power, the latter having a large potential, in addition to
geothermal and hydropower, which are the Group’s
strengths
・Develop new technologies (tidal power generation)
One of Japan’s largest wood-
pellet biomass power plants
Recent development
90 90 150
180 210 430
550 5505601290 12901300180 4105802300 255030204000010002000300040005000
End of FY2020 Oct.2022 Projects
already decided
FY2025 FY2030
Solar Wind
Geothermal Hydro
Biomass(MW)Approximately 80% of
the FY2025 target
Renewable energy development (per power source) 500024Renewable energy business (main new projects)
 Commenced commercial operation in February
2022. One of Japan’s largest biomass power
stations, where Kyuden Group covered both
development and operation.
Shimonoseki Biomass Power Station
Operator
Shimonoseki Biomass Energy LLC
(Jointly capitalized by companies including
Kyuden Mirai Energy)
Location
Hikoshimasako-machi, Shimonoseki-city,
Yamaguchi
Output Approx. 75 MW
Fuel Wood pellets
Power station, etc. Prefecture
Total output(kW)Remarks
Solar 【Outside Kyushu】Miya River Watarai※(注記) Mie 59,900 Planned start operation FY2023
Wind Kitakyushu Hibikinada offshore wind farm※(注記) Fukuoka 220,000 Planned start operation FY2025
Hydro Shin-takeda Oita 8,300
Started operation in June 2022
[Redevelopment(7,000kW→8,300kW)]
Geothermal Kirishima Eboshi area Kagoshima 4,500 Planned start operation FY2024
Biomass
【Outside Kyushu】Ishikari Biomass※(注記) Hokkaido 51,500 Planned start operation November 2022
【Outside Kyushu】Hirohata Biomass※(注記) Hyogo 74,900 Planned start operation FY2023
【Outside Kyushu】Tahara Biomass※(注記) Aichi 50,000 Planned start operation FY2025
Subtotal 176,400 -
Total 469,100 -
※(注記) Under development by Kyuden Mirai Energy
Renewable energy development plan (as of November 7, 2022)
 Promoting project development to achieve the equity output target for FY2025, and implementing
initiatives that contribute to low-carbon / decarbonization, e.g. efficient thermal power development
and power transmission business.
Growth business:Overseas Business 25
Ordinary Income (Billion of Yen)
1 UAE: HVDC subsea transmission project
Kyuden Group’s first overseas power transmission project; Transmitting
green electricity from the mainland to offshore oil / gas production
facilities, thereby contributing to significant emission reduction
(participation started in December 2021)
2 Uzbekistan: Gas-fired thermal plant project
Kyuden Group’s first electric power project in central Asia; assisting the
country in its policy to replace aging power plants with highly efficient
gas-fired thermal plants to reduce the emission of greenhouse gasses
(participation started in March 2022)
Note: Due to rounding of figures they may not match the sum.
FY2021 FY2022 2Q
FY2025
Target
Main initiatives for FY2022
Overseas
Business
1.4 3.1 7.0 ・Participating in thermal power development projects that are
profitable and contribute to low carbonization
Initiatives in Asia and the Middle East, where there is an urgent need for
supply / adjustment capacity
・Participating in power transmission business
Exploring participation opportunities in Europe and other regions,
in addition to our current presence in the Middle East
Mid-term plan
・Promote business development in Asia, the US, Middle
East, Europe as well as Africa, where future growth is
expected
・Expand business in consulting, micro-grid and
transmission and distribution
Recent developments(MW)1320 1470
500 500
500 500
120 3602830400050000100020003000400050006000
End of FY2020 Oct.2022 FY2025 FY20302430Output based on our equity ownership (by area)
Approximately 70% of
the FY2025 target26Overseas business (main new project)
■しかく PetroGreen (PG), which is involved in developing and operating renewable energy facilities such as
geothermal, wind and solar energy in the Philippines. PG plans to actively expand renewable energy
development such as offshore wind farms.
■しかく Through investing in PG, Kyuden plans to use the company as a renewable energy development platform in
the Philippines, thereby promoting renewable energy development and contributing to the transition to low /
zero carbon power sources in line with the country’s vision.
Investment in PetroGreen (October 2022)
■しかく Persistent Energy (PE), is a venture company that
provides financial and human capital to start-up
companies in Africa, in order to achieve both carbon
neutrality and economic development in the region.
■しかく Aiming to identify business opportunities in Africa, a
region of rapid economic growth, through investment
in PE.
Invested in Persistent Energy Capital LLC (June 2022)
Name Persistent Energy Capital LLC
Location Delaware, USA
Business
- Investment and Venture Building start-up companies
in Africa
- Investment Advisory and Consulting services
Business Development Overseas (As of November 7, 2022)
Project name Fuel
Start of Operation
/Investment
Output Ownership Project name
1 Mexico: Tuxpan II Gas 2001/12 495 MW 50.0% 248 MW
2 Vietnam: Phu My III Gas 2004/3 744 MW 26.7% 199 MW
3 Mexico: Tuxpan V Gas 2006/9 495 MW 50.0% 248 MW
4 Singapore: Senoko Energy Gas [Investment] 2008/9 2,380 MW 15.0% 357 MW
5 China: Inner Mongolia Wind 2009/9 50 MW 29.0% 15 MW
6 Taiwan: Hsin Tao Gas [Investment] 2010/10 600 MW 33.2% 199 MW
7 Indonesia: Sarulla I~III Geothermal 2018/5 330 MW 25.0% 83 MW
8 USA : Birdsboro Gas [Investment] 2018/1 488 MW 8.3% 41 MW
9 USA : Kleen Energy Gas [Investment] 2018/5 620 MW 20.3% 126 MW
10 USA: South Field Energy Gas 2021/10 1,180 MW 18.1% 214 MW
11 Thailand : EGCO
Gas/Coal
Renewable
[Investment] 2019/5 6,071 MW 6.1% 373 MW
12 USA : Westmoreland Gas [Investment] 2019/11 940 MW 12.5% 118 MW
13 UAE : Taweelah B Gas [Investment] 2020/3 2,000 MW 6.0% 120 MW
14 Bahrain:Al Dur I Gas [Investment] 2021/8 1,234 MW 19.8% 244 MW
15 Uzbekistan:Syrdarya Gas [Investment] 2022/3 1600 MW 14.3% 230 MW
16 Philippines : PetroGreen Renewable [Investment] 2022/10 74 MW 25.0 % 19 MW
Total 2,830 MW27Overseas business
Note1: Due to rounding of figures they may not match the sum.27Note2: Includes projects in which the company participates prior to commercial operation
5Inner Mongolia
6Hsin Tao
4Senoko Energy
7Sarulla I~III
2Phu My III
1Tuxpan II
3Tuxpan V
8Birdsboro
9Kleen Energy
10outh Field Energy
11EGCO
12Westmoreland
13 Taweelah B
15Syrdarya
14Al Dur I
16PetroGreen
Growth business : ICT Service Business 28
Ordinary Income
■しかく Strengthening services that response to social needs during COVID-19 such as remote work, and
focusing on optical broadband business and data center business
Optical broadband business BBIQ
1 Voted No.1 in the Kyushu area for six consecutive years
2 Market share in the Kyushu area: 14.2%
3 Technical support: Highest three-star rating for 2
consecutive years in HDI ranking benchmark
4 Offering the ultra-fast and high-capacity "10GB plan"
(Service launched in April 2022)
≪Recent example≫
FY2021 FY2022 2Q
FY2025
Target
Main initiatives for FY2022
ICT Services
Business
6.1 1.4 10.0
・Strengthening existing services including optical broadband business BBIQ and
data center business
・Strengthening DX solutions to companies / local governments, and
creating new businesses and services
Specific initiatives for new businesses and services
・Establishing new business model for drone service business
・Expanding security-related services that leverage Kyuden Group’s strengths
・Offering a wide range of power storage systems for industrial use and grid use in
order to achieve CN
Mid-term plan
・Providing optimal solutions extending business areas
outside of Kyushu
・Expanding ICT services to new business domains to
increase sales and profit
(Billion of Yen)
Main businesses
Name Main businesses
Kyushu Electric Power Drone service business, regional information
platform business, etc.
QTnet Optical broadband service business "BBIQ", mobile
services business "QT mobile", data center business,etc.Nishimu Electronics Industries Manufacturing and sales of telecommunications
equipment, construction and maintenance, etc.
Kyuden Business Solutions Information system development, operation and
maintenance business, etc.
 Implementing approved projects and investing in / developing industrial properties for logistics
facilities and overseas properties mainly in the United States to expand income and diversify income
sources.
Growth business:Urban Development Business 29
Ordinary Income (Billion of Yen)
Fukuoka Maizuru Square (opened in April (2022)
FY2021 FY2022 2Q
FY2025
Target
Main initiatives for FY2022
Urban Development
Business
3.8 1.2 5.0
・Actively investing in and developing logistics facilities, overseas
properties and other areas of assets with good potential
・Considering the development of large-scale properties, that offer
stable long-term income
・Promoting decarbonization developments that involve improving
energy efficiency, creating energy and introducing renewable-
derived electricity
・Building a self-regulated investment cycle and promoting asset
management business for gaining management fees
Mid-term plan
・In addition to expanding offices, houses and airports,
strengthen initiatives in new profit-making businesses such as
urban development, mixed use development, development of
industrial real estate including logistics facilities
・Promote area expansion beyond Kyushu and overseas
Using 100% renewable-
based electricity
Main businesses
Name Main businesses
Kyushu Electric Power Urban development, property development, social
infrastructure development, industrial properties,
overseas properties, etc
Denki Building Office buildings, etc.
Kyuden properties Housing development and rental businesses, etc.
Kyushu maintenance Building maintenance, etc.
≪Recent development≫30Urban development business
Category Region Project name (including joint projects) Schedule
Composite facility Kyushu
Use of the former site of a fresh produce market in Fukuoka City
(LaLaport Fukuoka)
Opened in April 2022
Use of the former site of Niagemachi Elementary School in Oita City Due to open in April 2024 (design stage)
Use of the former site of Nagasaki Broadcasting Corporation’s head
office
Kyuden Group was selected prospective business
operator in Sept 2021
Logistics
Outside
Kyushu
Fukuyama City logistics project Participated in March 2021
Higashi-Ogishima logistics project Participated in November 2020
Office buildings /
Hotels
Kyushu
Fukuoka Maizuru Square Opened in April 2022
Denki Building in front of Nagasaki Railway Station Opened in August 2022
Use of the former site of Fukuoka City Office North Annex
Start construction in October 2023 (Existing buildings
are currently being demolished)
Outside
Kyushu
Investment in domestic hotels in Kanto, Kansai, etc. Participated in December 2019
Housing
Kyushu Island City condominium
Kyuden Group was selected prospective business
operator in April 2022
Overseas
Apartment complex in Portland, USA To be completed in May 2023 (under construction)
Sustainable apartment complexes in southern USA (4 properties) Participated in May 2022
Airport
Kyushu
Fukuoka Airport Commenced operation in April 2019
Kumamoto Airport Commenced operation in April 2020
Outside
Kyushu
Hiroshima Airport Commenced operation in July 2021
Main investment / development projects (as of November 7, 2022)
Statements made in this overview of operations regarding Kyushu Electric Power’s 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.
For more information, please contact:
Investor Relations Group
Corporate Strategy Division
KYUSHU ELECTRIC POWER CO.,INC.
TEL : +81 92 726 1575
Email: ir@kyuden.co.jp
URL : https://www.kyuden.co.jp/english_ir_index.html