Tokyo Electric Power : FY 2017 Financial Results

Tokyo Electric Power Company Holdings, Incorporated finalized its consolidated FY2017 (April 1, 2017 through March 31, 2018) Financial Results today.

While electricity sales revenues increased 3.3% year-on-year (YoY) to 4,574.0 billion yen due to an increase in the unit price of electricity resulting from fuel cost adjustments etc., electricity sales volume decreased 1.4 % YoY to 240.3 billion kWh.
Operating revenue, including revenue from power sold to other utilities and suppliers (inter-regional electricity sales and electricity sales to other companies) etc., increased 9.2% YoY to 5,850.9 billion yen. Ordinary revenue increased 8.8% YoY to 5,899.5 billion yen.

Ordinary expenses increased 8.7% YoY to 5,644.7 billion yen despite all efforts by the Group to cut costs amidst the continuing shutdown of all nuclear power station due to increased fuel costs caused by an increase in fuel prices and increase of power purchasing costs etc.

As a result, ordinary income increased 12.0% YoY to 254.8 billion yen.

While 381.9 billion yen in grants-in-aid appropriated by the Nuclear Damage Compensation and Decommissioning Facilitation Corporation was recorded as extraordinary income, extraordinary loss of 286.8 billion yen from nuclear damage compensation and 21.3 billion yen from extraordinary loss on disaster resulted in a YoY increase of 139.5% to 318.0 billion yen in net income attributable to owners of parent.

【FY2018 Full-year Financial Forecasts】
In regards to FY2018 projections, operating revenue is expected to increase by 249 billion yen from the previous fiscal year to around 6,099.0 billion yen due to an increase in electricity sales revenue resulting from the rise in fuel cost adjustments etc.
In spite of an increase in fuel costs and costs associated with power purchasing, ordinary income is expected to increase by 31 billion yen from the previous fiscal year to around 285 billion yen due to an increase in operating revenue.
Net income attributable to owners of parent is expected to increase to around 252 billion yen.

< Reference > : Overview of FY2017 Financial Results (April 1, 2017 - March 31, 2018) (PDF 166KB)