Tokyo Electric Power : FY2015 First Quarter Financial Results (April 1 through June 30, 2015)

Tokyo Electric Power Co., Inc. (TEPCO) announced that Operating Revenues for the FY2015 first quarter decreased 1.1% from the same period of the previous fiscal year to 1,551.6 billion yen (down 1.4% to 1,510.9 billion yen on a non-consolidated basis). Ordinary Income increased 307.8% from the same period of the previous fiscal year to 214.1 billion yen (up 417.1% to 202.0 billion yen on a non-consolidated basis).

Electricity Sales decreased 1.9% over the same period of the previous fiscal year to 58.6 billion kWh, as a result of a decrease in Specified-Scale Demand.
Per demand type, Electricity Sales for Residential Usage increased 1.4% to 19.7 billion kWh, those for Low-Voltage Users increased 2.4% to 2.2 billion kWh, and those for Specified-Scale Demand decreased 3.8% to 36.7 billion kWh, compared with the same period of the previous fiscal year.

On the revenue side, Electricity Sales Revenues decreased 2.6% from the same period of the previous fiscal year to 1,349.9 billion yen due to a decrease in the unit price of electricity resulting from fuel cost adjustments, etc. Operating Revenues including electricity sales to other companies, etc. decreased 1.1% to 1,551.6 billion yen (down 1.4% to 1,510.9 billion yen on a non-consolidated basis). Ordinary Revenues decreased 1.1% to 1,569.2 billion yen (down1.2% to 1,526.0 billion yen on a non-consolidated basis).

As for expenditures, in spite of cost increase factors including the suspension of all nuclear power stations and the depreciation of the yen, as a result of the extensive cost reduction efforts for all of TEPCO that continued from the previous year as well as decreased fuel costs due to the low price of crude oil, Ordinary Expenses decreased 11.7% for the same period of the previous fiscal year to 1,355.1 billion yen (down 12.0% to 1,324.0 billion yen on a non-consolidated basis).

Net income in the first quarter which belongs to TEPCO shareholders was 203.3 billion yen (194.6 billion yen on a non-consolidated basis) after accounting for 426.7 billion yen in grants-in-aid from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation as Extraordinary Income, and 405.6 billion yen in Nuclear Damage Compensation costs, etc. as Extraordinary Loss.