Financial Results for FY2019 1Q ended June 2019[PDF : 729KB]

August 9, 2019

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Yes

Yes (for institutional investors)

July 29, 2019

Consolidated Financial Results Bulletin for the 1st Quarter Ended June 30, 2019 (J-GAAP)

Tokyo Gas Co., Ltd.

Securities code:	9531
(URL https://www.tokyo-gas.co.jp/IR/english/index.html)
Representative:	Mr. Takashi UCHIDA, President
Contact:	Mr. Masami ADACHI, General Manager,
	Consolidated Settlements Group

Scheduled date of the filing of quarterly report: Scheduled date of the start of dividend payments: Preparation of 1Q earnings presentation material (yes/no): Holding of 1Q earnings announcement (yes/no):

Stock listings:

Tokyo Stock Exchange, Nagoya Stock Exchange

Location of head office: Tokyo

(Amounts are rounded down to the nearest million yen)

1. Consolidated Performance for 1st Quarter (from April 1, 2019 to June 30, 2019)

										(Unit: million yen)
(1) Consolidated Business Performance		(% of change from the corresponding period of previous year)
		Net sales			Operating profit	Ordinary profit	Profit attributable to
				owners of parent
	Three months ended	467,218		16.4%		44,021	89.1%	48,390	101.4%	34,927		-7.4%
	Jun. 30, 2019
	Three months ended	401,434		-0.7%		23,274	-32.9%	24,028	-33.0%	37,713		35.4%
	Jun. 30, 2018
Note: Total comprehensive income
	Three months ended June 30, 2019: 33,809 million yen (55.9%)	Three months ended June 30, 2018: 21,682 million yen (3.1%)
		Profit per share		Diluted profit
			per share
	Three months ended	78.23 yen			-
	Jun. 30, 2019
	Three months ended	83.25 yen			-
	Jun. 30, 2018
(2) Consolidated Financial Position
								(Unit: million yen)
		Total assets			Total net assets	Equity ratio
	As of Jun. 30, 2019	2,444,960			1,171,575		47.4%
	As of Mar. 31, 2019	2,428,149			1,171,345		47.7%
Reference: Shareholders' equity
	As of June 30, 2019: 1,159,357 million yen	As of March 31, 2019: 1,159,055 million yen

2. Dividend

			Dividend per share (Unit: yen)
		End of 1Q	End of 2Q		End of 3Q		End of 4Q	Annual
FY2018 ended Mar. 31,		-	27.50		-		32.50	60.00
2019
FY2019 ending Mar. 31,		-
2020
FY2019 ending Mar. 31,			30.00			-		30.00	60.00
2020 (Forecast)
Note: Revision to the dividend forecast that has been disclosed lastly: No

3. Consolidated Results Forecast for FY2019 ending March 31, 2020 (April 1, 2019 - March 31, 2020)

(Unit: million yen) (% of change from the corresponding period of previous year)

	Net sales		Operating profit	Ordinary profit	Net profit attributable	Profit
		to owners of parent	per share
Full-year	2,043,000		4.1%	122,000	30.2%	120,000	34.2%	86,000	1.7%	194.40 yen

Note: Revision to the consolidated results forecast that has been disclosed lastly: No

*Notes

1. Significant changes in consolidated subsidiaries (changes in specified subsidiaries resulting in change of scope of consolidation during the quarter) (yes/no): No
2. Application of accounting treatment peculiar to quarterly consolidated financial statement preparation (yes/no): Yes
   Note: Please see page 8 of the Attachment, "2. Consolidated Financial Statements and Main Notes: (3) Notes on consolidated financial statements (Application of accounting treatment peculiar to quarterly consolidated financial statement preparation)" for details.
3. Change in accounting policies or estimates and retrospective restatements

1. Change in accounting policies in accordance with revision of accounting standards: No
2. Change in accounting policies other than item 1) above: No
3. Change in accounting estimates: No
4. Retrospective restatements: No

1. Number of issued shares (common stock)

							(Unit: share)
1)	Number of issued shares at end of period		Jun. 30, 2019	451,355,759		Mar. 31, 2019	451,355,759
	(including treasury stock):
2)	Number of shares of treasury stock		Jun. 30, 2019	8,301,702		Mar. 31, 2019	1,410,673
	at end of period:
3)	Average number of shares during period:		Apr. - Jun. 2019	446,471,083		Apr. - Jun. 2018	453,020,638

• Quarterly review procedures by a certified public accountant or an audit firm do not apply to quarterly consolidated financial results bulletins.
• Explanation related to appropriate use of results forecasts and other items warranting special mention
• 1. The above forecasts are based on the information available at the time this report was prepared, and Tokyo Gas makes no guarantee that these figures will be achieved. Actual results may differ from these forecasts for a variety of reasons. Please see page 3 of the Attachment "1. Overview of Business Performance, etc.: (2) Future outlook" for matters concerning the above forecasts.
  2. The information related to this Financial Results will be posted on the Web site of the Company.

Non-Consolidated Results Forecast for FY2019 ending March 31, 2020 (April 1, 2019 - March 31, 2020)

(Unit: million yen) (% of change from the corresponding period of previous year)

	Net sales		Operating profit	Ordinary profit	Net income	Profit
		per share
Full-year	1,890,000	6.9%	82,000	67.6%	82,000	30.3%	60,000	11.7%	135.63 yen

Note: Revision to the non-consolidated results forecast that has been disclosed lastly: No

Contents of Attachment
1. Overview of Business Performance, etc.............................................................................................................................	2
(1)	Overview of business performance of the 1st quarter..............................................................................................	2
(2)	Future outlook .............................................................................................................................................................	3
2. Consolidated Financial Statements and Main Notes ........................................................................................................	4
(1)	Consolidated balance sheets .......................................................................................................................................	4
(2)	Consolidated statements of income and comprehensive income .............................................................................	6
	Consolidated statement of income .............................................................................................................................	6
	(Three months ended June 30, 2019)
	Consolidated statement of comprehensive income ...................................................................................................	7
	(Three months ended June 30, 2019)
(3)	Notes on consolidated financial statements ...............................................................................................................	8
	(Note on going concerns' premise) .............................................................................................................................	8
	(Additional information).............................................................................................................................................	8
	(Significant changes in shareholders' equity)............................................................................................................	8
	(Application of accounting treatment peculiar to quarterly consolidated financial statement preparation)......	8
	(Material subsequent events)......................................................................................................................................	8

1

1. Overview of Business Performance, etc.

(1) Overview of business performance of the 1st quarter
					(Unit: million yen)
		Gas	Electric	Overseas	Energy-	Real estate	Others
		power	related
	FY2019	343,015	72,156	10,912	70,586	11,153	26,237
	(% of total)	(64.3%)	(13.5%)	(2.0%)	(13.2%)	(2.1%)	(4.9%)
Sales	FY2018	290,738	53,167	12,169	74,388	11,023	20,342
(% of total)	(63.0%)	(11.5%)	(2.6%)	(16.1%)	(2.4%)	(4.4%)
	Amount of change	52,277	18,989	-1,257	-3,802	130	5,895
	(Rate of change)	18.0%	35.7%	-10.3%	-5.1%	1.2%	29.0%
	FY2019	296,740	70,176	8,835	69,798	8,191	25,025
	(% of total)	(62.0%)	(14.7%)	(1.8%)	(14.6%)	(1.7%)	(5.2%)
Operating	FY2018	266,707	50,810	7,742	71,738	8,734	20,228
expenses	(% of total)	(62.7%)	(11.9%)	(1.8%)	(16.8%)	(2.1%)	(4.7%)
	Amount of change	30,033	19,366	1,093	-1,940	-543	4,797
	(Rate of change)	11.3%	38.1%	14.1%	-2.7%	-6.2%	23.7%
	FY2019	46,275	1,980	3,645	787	3,124	1,203
	(% of total)	(81.1%)	(3.5%)	(6.4%)	(1.4%)	(5.5%)	(2.1%)
Segment	FY2018	24,030	2,356	4,749	2,649	2,435	100
profit	(% of total)	(66.1%)	(6.5%)	(13.1%)	(7.3%)	(6.7%)	(0.3%)
	Amount of change	22,245	-376	-1,104	-1,862	689	1,103
	(Rate of change)	92.6%	-16.0%	-23.2%	-70.3%	28.3%	1,103.2%

Note: Figures for sales include internal transactions. Figures for operating expenses do not include expenses that cannot be allocated to specific segments. Figures for segment profit are adjusted against the amount based on operating profit of consolidated financial statements plus or minus investment income or loss on equity method.

< Consolidated City Gas Sales Volume, etc.>

				Apr. - Jun. 2019	Apr. - Jun. 2018	Change	% change
No. of customers for city	Thousands	9,607	10,189	-582	-5.7
gas retail sales
No. of customers (meters)	Thousands	11,838	11,702	136	1.2
volume	Residential	Mil. m3	808	778	30	3.8
	Commercial	Mil. m3	555	549	6	1.1
sales		Industrial	Mil. m3	1,587	1,335	252	18.9
	Subtotal	Mil. m3	2,142	1,884	258	13.7
gas
Supplies to other utilities	Mil. m3	422	483	-61	-12.6
City
Total	3	3,372	3,145	227	7.2
	Mil. m
Average temperature	°C	16.7	17.9	-1.2	-
Notes:

1. No. of customers for city gas retail sales indicates the number of billed customers for city gas retail sales.
2. No. of customers (meters) indicates the number of meters that includes inactive meters and meters for gas supply from other retail companies.
3. "Commercial" indicates sales to commercial, public and medical institutions.
4. City gas sales volumes are on the basis of 45MJ/m3.
5. Average temperature is the average temperature during the period of use by each customer (from date of initial month's meter reading to final month's meter reading).

The aforementioned notes also apply to the relevant tables.

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