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 chargesincrease 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.