In this report, the term "Fiscal Year 2022" refers to the period between April 1, 2021 and March 31, 2022.
Contents
Ⅰ . FY2022 Financial Results
Ⅱ. Forecasts of Financial Results for FY2023
Dividends
(Reference) Key Points and Initiatives of
Chugoku Electric Power Group
(Reference) Appendix
Ⅲ. Recent Topics
Ⅰ . FY2022 Financial Results
1-1. Financial Results Summary
1
Operating revenues were 1,136.6 billion yen, a decrease of 170.8 billion yen in comparison with the previous year, mainly due to a change in the method of recording revenue related to feed-in tariffs for renewable energy according to the application of the "Accounting Standard for Revenue Recognition."*
Operating income was a loss of 60.7 billion yen, a decrease of 95.0 billion yen in comparison with the previous year. This is because higher fuel prices, which have continued to rise since the beginning of the fiscal year, resulted in a significant increase in loss on the time lag of the fuel cost adjustment system.
Ordinary income including non-operating income and expenses such as interest expense was a loss of 61.8 billion yen, a decrease of 91.9 billion yen in comparison with the previous year.
As a result of drawing on the drought reserve, recording extraordinary income and deducting income taxes, net loss attributable to owners of the parent was 39.7 billion yen, a decrease of 54.2 billion yen from the same period of the previous fiscal year.
Note: As a result of the application of the "Accounting Standard for Revenue Recognition" and the "Regulation on Accounting at Electric Utilities" revised in accordance with this standard, operating revenues and operating expenses decreased by 336.1 billion yen and 335.9 billion yen, respectively. The impact that this had on profit is minor.
1-2. Financial Results Summary
2
(billion yen)
FY2022
FY2021
Difference
Rate of change
(A)
(B)
(A-B)
(A/B-1)
Operating revenues
1,136.6
1,307.4
-170.8
-13.1 %
Operating income
-60.7
34.2
-95.0
-
Ordinary income
-61.8
30.0
-91.9
-
Profit attributable to
-39.7
14.5
-54.2
-
owners of the parent
Note: As a result of the application of the "Accounting Standard for Revenue Recognition" and the "Regulation on Accounting at Electric Utilities" revised in accordance with this standard, operating revenues and operating expenses decreased by 336.1 billion yen and 335.9 billion yen, respectively. The impact that this had on profit is minor.
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The Chugoku Electric Power Co. Inc. published this content on 23 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2022 08:25:00 UTC.
Chugoku Electric Power Co Inc is a Japan-based company mainly engaged in the electric power business, comprehensive energy supply business and information and communication business. The Company operates through three business segments. The Electric Power Business segment supplies electricity based on the Chugoku region as the basis for business development. The Comprehensive Energy Supply Business segment is engaged in the sale of liquefied natural gas (LNG) and provision of energy utilization services such as electricity and heat sales. The Information and Communications Business segment provides telecommunications services and information processing services that utilize information and communication technology (ICT). The Company also provides environmental harmony creation, business and life support, and electric power business support.
THE CHUGOKU ELECTRIC POWER CO., INC. 
