Tokyo Electric Power : FY2014 First Quarter Financial Results (April 1 through June 30, 2014)

Tokyo Electric Power Co., Inc. (TEPCO) announced that Operating Revenues for the FY2014 first quarter increased 9.1% from the same period of the previous fiscal year to 1,568.5 billion yen (up 9.9% to 1,532.2 billion yen on a non-consolidated basis). Ordinary Income was 52.5 billion yen (39.0 billion yen on a non-consolidated basis).

Electricity Sales decreased 1.1% over the same period of the previous fiscal year to 59.8 billion kWh, as a result of a decrease in heating demand due to higher temperatures during late April, etc.
Per demand type, Electricity Sales for Residential Usage decreased 1.0% to 19.4 billion kWh, those for Low-Voltage Users decreased 2.6% to 2.2 billion kWh, and those for Specified-Scale Demand decreased 1.0% to 38.2 billion kWh, all compared with the same period of the previous fiscal year.

On the revenue side, Electricity Sales Revenues increased 8.2% from the same period of the previous fiscal year to 1,385.5 billion yen due to an increase in the unit price of electricity resulting from fuel cost adjustments, etc. Operating Revenues including electricity sales to other companies, etc. increased 9.1% to 1,568.5 billion yen (up 9.9% to 1,532.2 billion yen on a non-consolidated basis). Ordinary Revenues increased 8.3% to 1,587.1 billion yen (up 9.0% to 1,544.3 billion yen on a non-consolidated basis).

On the expense side, in spite of increased fuel costs which have persisted due to the depreciation of the yen, etc. amid the suspension of all nuclear power stations, as a result of the extensive cost reduction efforts targeting all of TEPCO continued from the previous year, such as postponement of repair work to the utmost extent, Ordinary Expenses increased 2.6% from the same period of the previous fiscal year to 1,534.6 billion yen (up 3.2% to 1,505.2 billion yen on a non-consolidated basis).

Net Losses in the first quarter were 173.2 billion yen (183.2 billion yen on a non-consolidated basis) due to Nuclear Damage Compensation of 218.8 billion yen as Extraordinary Losses etc.

Appendices:
Summary of FY2014 1st Quarter Financial Results (PDF 67.6KB)
Comparison Table of FY2014 1st Quarter Financial Results (Non-Consolidated) (PDF 56.5KB)
Projections for Fiscal Year 2014 (PDF 28.4KB)
Table of Data on Revenues and Expenses (Non-Consolidated Basis) (PDF 54.9KB)
Revenues and Expenses of In-house Companies (Non-Consolidated) (PDF 115KB)