Tohoku Electric Power Incorporated : Financial Summary 1st Quarter of FY2021
July 30, 2021 at 05:29 am EDT
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Financial Summary
1st Quarter of FY2021
( April 1, 2021 - June 30, 2021)
July 30, 2021
Tohoku Electric Power Co., Inc.
Contents
FY2021/1Q Financial Results
Summary of Financial Results
・・・・
1
Changing Factors in Consolidated Ordinary Income
・・・・
2
Electricity Sales
・・・・
3
Electricity Supply
・・・・
4
Financial Forecast and Dividend Forecast
・・・・
5
Topics
Highlights of FY2021 Tohoku Electric Power Group's medium- term Plan
・・・・
8
Current Situation of Thermal Power Stations
・・・・
9
Making Steady Efforts to Restart Nuclear Power Reactors
・・・・
10
Development of Renewable Energy
・・・・
12
List of Major Renewable Energy Development/Participation Points of Our Group
・・・・
13
Promotion of Wholesale Electricity Sales
・・・・
14
Attempt to Quickly Achieve Profitability with Our Smart Society Building Business
・・・・
15
Challenge to Become Carbon Neutral by 2050
・・・・
18
Enhancing Capability to Create Corporate Value with Focusing on ESG
・・・・
19
Initiatives to Achieve Financial Goals
・・・・
20
References
Financial Data
・・・・
22
Other Reference Data
・・・・
30
1st Quarter of FY2021
Financial Results
Summary of Financial Results
1
Operating revenue ¥400.5 billion (a year on year decrease of ¥118.6 billion)
Operating revenue decreased due to the impact of the application of Accounting Standard for Revenue Recognition.
Ordinary income ¥18.5 billion (a year on year decrease of ¥20.6 billion)
Ordinary income decreased due to temporary factors such as an impact of the time lag of fuel cost adjustment system and the shutdown of power stations damaged by the earthquake off the coast of Fukushima Prefecture.
【Summary of Consolidated Financial Statements】
(billions of yen)
Consolidated
Change in the breakdown by segment (A)-(B)
FY2021/1Q
FY2020/1Q
Change
Power
Generation
Network
Construction
Others
(Adjustment*2)
(A)
(B)
(A) - (B)
and Sales
Operating Revenue*1
400.5
519.2
(118.6)
(109.2)
(19.5)
6.3
(4.5)
8.3
400.5
]
[
395.5
]
[
5.0
]
[
(14.4) ]
[
9.3
]
[
Ordinary Income*1
18.5
39.1
(20.6)
0.4
2.6
(0.2)
(1.0)
(22.5)
32.5
]
[
26.1
]
[
6.3
]
[
27.4
]
[
Net Income Attributable to
9.8
27.9
(18.0)
Owners of Parent
Cash Income
82.5
86.8
(4.2)
(0.0)
(4.2)
(0.2)
(1.2)
1.5
*1 Lower figures of operating revenue are based on Accounting Standard for Revenue Recognition. Grant under act on purchase of renewable energy sourced electricity and surcharge for promoting renewable energy sourced electricity based on Feed-in Tariff Scheme for renewable energy, which were previously recorded as operating revenue, will no longer be recorded. Those of ordinary income exclude time lag between fuel cost and fuel cost adjustment charges.
*2 Elimination of transactions between segments.
*3 Consolidate Cash Income = Operating income + Depreciation + Amortization of nuclear fuel + Share of profit of entities accounted for using equity method (Operating income doesn't include time lag between fuel cost and fuel cost adjustment charges.)
Changing Factors in Consolidated Ordinary Income
2
from the Corresponding Period Last Year
Decrease of 20.6 Billion Yen (39.1 → 18.5)
-2.6
11.0
Decrease in the
-6.3
volume of retail
electricity sales
Impact of supply and
Change in
demand due to the
earthquake off the
depreciation
coast of Fukushima
method
Prefecture
39.1
(billions of yen)
4.3
Others
-27.0
Time lag between fuel cost and fuel
cost adjustment 18.5 charges
Impact excluding Time lag between fuel cost and fuel cost
adjustment charges:increase of about 6.3 billion yen
FY2020/1Q
FY2021/1Q
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Tohoku Electric Power Co. Inc. published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 09:28:06 UTC.
Tohoku Electric Power Company, Incorporated is a Japan-based company primarily engaged in the electric power business. The Company operates in two business segments. The Power Supply segment is involved in the generation and provision of electric power. The Construction segment is involved in the design of electrical, telecommunications, civil engineering and construction works and power supply equipment, as well as the investigation, surveying, measurement and analysis related to environmental protection.