Financial Section(Year ended March 31, 2022) [PDF:589KB]

Appendix

Chubu Electric Power Group Report 2022

(Integrated Report)

Financial Section

Year ended March 31, 2022

Consolidated Balance Sheets										1
Consolidated Statements of Operations									3
Consolidated Statements of Comprehensive Income			4
Consolidated Statements of Changes in Net Assets				5
Consolidated Statements of Cash Flows					7
Notes to Consolidated Financial Statements				8
Independent Auditor's Report			39

Chubu Electric Power Company, Incorporated

Consolidated Balance Sheets

Chubu Electric Power Company, Incorporated and Subsidiaries

As of March 31, 2022 and 2021

				Thousands of
				U.S. dollars
	Millions of yen		(Note 1)
ASSETS
March 31, 2022	March 31, 2021		March 31, 2022
Property, Plant and Equipment:
Property, plant and equipment, at cost	¥10,513,102	¥10,366,869	$85,884,340
Construction in progress	422,545	382,692	3,451,887
	10,935,647	10,749,562	89,336,227
Less:
Contributions in aid of construction	(211,543)	(207,754)	(1,728,153)
Accumulated depreciation	(7,524,589)	(7,412,829)	(61,470,386)
	(7,736,133)	(7,620,583)	(63,198,539)
Total Property, Plant and Equipment, Net (Notes 8 and 14)	3,199,514	3,128,978	26,137,687
Nuclear Fuel:
Loaded nuclear fuel	40,040	40,040	327,098
Nuclear fuel in processing	154,731	152,034	1,264,046
Total Nuclear Fuel	194,772	192,074	1,591,145
Investments and Other Assets:
Long-term investments (Notes 9,10, 11 and 14)	1,638,029	1,527,470	13,381,501
Net defined benefit asset (Note 15)	17,109	22,517	139,774
Deferred tax assets (Notes 14 and 23)	174,086	160,383	1,422,155
Other (Note 14)	24,982	17,680	204,092
Allowance for doubtful accounts	(13,764)	(4,208)	(112,444)
Total Investments and Other Assets	1,840,443	1,723,843	15,035,077
Current Assets:
Cash and deposits (Notes 7, 9 and 14)	203,207	176,460	1,660,059
Notes and accounts receivable - trade and contract assets (Notes 9, 12 and 14)	344,219	309,272	2,812,023
Inventories (Notes 13 and 14)	190,779	38,721	1,558,526
Allowance for doubtful accounts	(2,819)	(2,099)	(23,035)
Other (Note 14)	204,616	119,097	1,671,567
Total Current Assets	940,003	641,452	7,679,141
Total Assets (Notes 14 and 30)	¥6,174,734	¥5,686,348	$50,443,052

The accompanying notes to the consolidated financial statements are an integral part of these statements.

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					Thousands of
					U.S. dollars
		Millions of yen		(Note 1)
LIABILITIES AND NET ASSETS
	March 31, 2022	March 31, 2021		March 31, 2022
Noncurrent Liabilities:
Long-term loans payable (Notes 9 and 14)	¥2,190,062	¥1,848,661	$17,891,208
Provision for loss in conjunction with discontinued operations of nuclear power plants	7,956	7,956	64,996
Net defined benefit liability (Note 15)	139,070	143,420	1,136,104
Asset retirement obligations (Note 18)	266,183	261,754	2,174,526
Other (Notes 14 and 23)	206,123	204,377	1,683,880
Total Noncurrent Liabilities	2,809,397	2,466,169	22,950,715
Current Liabilities:
Current portion of noncurrent liabilities (Notes 9 and 14)	262,077	223,586	2,140,983
Short-term loans payable (Notes 9 and 14)	269,044	262,442	2,197,896
Commercial paper (Notes 9 and 14)	79,000	20,000	645,372
Notes and accounts payable - trade (Note 9)	279,243	200,397	2,281,211
Accrued taxes	26,353	88,983	215,285
Other (Notes 9, 17 and 18)	324,355	298,735	2,649,745
Total Current Liabilities	1,240,073	1,094,146	10,130,495
Reserve for Fluctuation inWater Levels	1,990	22,347	16,257
Total Liabilities	4,051,461	3,582,663	33,097,468
Commitments and Contingent Liabilities (Note 20)
Net Assets (Note 21)
Capital stock	430,777	430,777	3,519,135
Capital surplus	70,716	70,732	577,700
Retained earnings	1,392,720	1,472,678	11,377,507
Treasury shares, at cost (Note 5)	(2,734)	(2,697)	(22,336)
Total Shareholders' Equity	1,891,480	1,971,490	15,452,006
Accumulated other comprehensive income:
Valuation difference on available-for-sale securities	47,446	45,002	387,603
Deferred gains and losses on hedges (Note 19)	16,556	(435)	135,254
Foreign currency translation adjustments	62,747	11,216	512,604
Remeasurements of defined benefit plans	(1,102)	3,892	(9,008)
Total Accumulated Other Comprehensive Income	125,648	59,675	1,026,453
Share acquisition rights	0	-	7
Noncontrolling interests	106,143	72,518	867,116
Total Net Assets	2,123,272	2,103,684	17,345,584
Total Liabilities and Net Assets	¥6,174,734	¥5,686,348	$50,443,052

Chubu Electric Power Company Group Integrated Report 2022

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Consolidated Statements of Operations

Chubu Electric Power Company, Incorporated and Subsidiaries

For the Years Ended March 31, 2022 and 2021

					Thousands of
					U.S. dollars
		Millions of yen		(Note 1)
		March 31, 2022	March 31, 2021		March 31, 2022
Operating Revenues:
Electricity	¥2,180,931	¥2,498,070	$17,816,612
Other	524,230	437,339	4,282,580
Total Operating Revenues (Notes 24, 29 and 30)	2,705,162	2,935,409	22,099,192
Operating Expenses:
Electricity (Note 25)	2,254,983	2,373,137	18,421,564
Other	504,009	416,577	4,117,387
Total Operating Expenses	2,758,992	2,789,715	22,538,951
Operating (Loss) Income	(53,830)	145,694	(439,758)
Other (Income) Expenses:
Interest expense	18,987	19,355	155,115
Loss on return of imbalance charge (Note 26)	5,510	-	45,020
Other, net	(13,498)	(65,871)	(110,272)
Total Other (Income) Expenses, Net	11,000	(46,515)	89,862
(Loss) Income Before Revarsal of Reserve for Fluctuation in	(64,830)	192,209	(529,621)
Water Levels and IncomeTaxes
Reversal of Reserve for Fluctuation inWater Levels	(20,357)	(98)	(166,306)
(Loss) Income Before IncomeTaxes	(44,473)	192,308	(363,314)
IncomeTaxes:
Current	11,626	46,223	94,977
Deferred	(15,948)	(5,126)	(130,290)
Total Income Taxes	(4,322)	41,097	(35,313)
Net (Loss) Income	(40,150)	151,210	(328,000)
Net income attributable to noncontrolling interests	2,872	4,007	23,463
Net (loss) income attributable to owners of parent	¥(43,022)	¥147,202	$(351,464)
					U.S. dollars
		Yen		(Note 1)
		March 31, 2022	March 31, 2021		March 31, 2022
Per Share of Capital Stock:
Net (loss) income - basic (Notes 3 and 5)	¥(56.90)	¥194.65	$(0.46)
Cash dividends	50.00	50.00	0.41

The accompanying notes to the consolidated financial statements are an integral part of these statements.

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Consolidated Statements of Comprehensive Income

Chubu Electric Power Company, Incorporated and Subsidiaries

For the Years Ended March 31, 2022 and 2021

					Thousands of
					U.S. dollars
		Millions of yen		(Note 1)
		March 31, 2022	March 31, 2021		March 31, 2022
Net (Loss) Income	¥(40,150)	¥151,210	$(328,000)
Other Comprehensive Income:
Valuation difference on available-for-sale securities	1,438	8,154	11,754
Deferred gains and losses on hedges	1,037	615	8,471
Foreign currency translation adjustments	562	(964)	4,597
Remeasurements of defined benefit plans, net of tax	(4,854)	10,011	(39,656)
Share of other comprehensive income of entities accounted for using equity method	68,197	11,638	557,120
Other Comprehensive Income (Note 27)	66,381	29,455	542,287
Comprehensive Income	¥26,230	¥180,666	$214,286
Comprehensive income attributable to:
Owners of parent	22,949	174,838	187,480
Noncontrolling interests	3,281	5,828	26,806

Chubu Electric Power Company Group Integrated Report 2022

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