July 27, 2023

Consolidated Financial Results Bulletin for the 1st Quarter Ended June 30, 2023 (J-GAAP)

Tokyo Gas Co., Ltd.

Securities code:

9531

Stock listings:

(URL https://www.tokyo-gas.co.jp/en/IR/index.html)

Tokyo Stock Exchange, Nagoya Stock Exchange

Representative:

Mr. SASAYAMA Shinichi, Representative

Corporate Executive Officer, President and CEO

Contact:

Mr. KOMORI Rikiya, Chief Manager,

Location of head office: Tokyo

Consolidated Settlements Sect.

Scheduled date of the filing of quarterly report:

August 14, 2023

Scheduled date of the start of dividend payments:

-

Preparation of 1Q earnings presentation material (yes/no): Yes

Holding of 1Q earnings announcement (yes/no):

Yes (for institutional investors)

(Amounts are rounded down to the nearest million yen)

1. Consolidated Performance for 1st Quarter (from April 1, 2023 to June 30, 2023)

(Unit: million yen)

(1) Consolidated Business Performance

(% of change from the corresponding period of previous year)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Three months ended

649,696

6.5%

92,977

81.6%

107,245

85.9%

77,669

102.1%

Jun. 30, 2023

Three months ended

609,939

52.0%

51,207

182.5%

57,700

259.8%

38,438

267.0%

Jun. 30, 2022

Note: Total comprehensive income

Three months ended June 30, 2023: 106,431 million yen (81.2%)

Three months ended June 30, 2022: 58,721 million yen (83.5%)

Profit per share

Diluted profit

per share

Three months ended

180.91 yen

-

Jun. 30, 2023

Three months ended

88.06 yen

-

Jun. 30, 2022

(2) Consolidated Financial Position

(Unit: million yen)

Total assets

Total net assets

Equity ratio

As of Jun. 30, 2023

3,471,328

1,657,097

46.8%

As of Mar. 31, 2023

3,581,425

1,589,301

43.5%

Reference: Shareholders' equity

As of June 30, 2023: 1,622,853 million yen

As of March 31, 2023: 1,558,404 million yen

2. Dividend

Dividend per share (Unit: yen)

End of 1Q

End of 2Q

End of 3Q

End of 4Q

Annual

FY2022 ended Mar. 31,

-

32.50

-

32.50

65.00

2023

FY2023 ending Mar. 31,

-

2024

FY2023 ending Mar. 31,

32.50

-

32.50

65.00

2024 (Forecast)

Note: Revision to the dividend forecast that has been disclosed lastly: No

3. Consolidated Results Forecast for FY2023 ending March 31, 2024 (April 1, 2023 - March 31, 2024)

(Unit: million yen) (% of change from the corresponding period of previous year)

Net sales

Operating profit

Ordinary profit

Net profit attributable

Profit

to owners of parent

per share

Full-year

2,692,000

-18.2%

150,000

-64.4%

137,000

-66.5%

101,000

-64.0%

245.27 yen

Note: Revision to the consolidated results forecast that has been disclosed lastly: Yes

*Notes

  1. Significant changes in consolidated subsidiaries (changes in specified subsidiaries resulting in change of scope of consolidation during the quarter) (yes/no): No
    Reference: Scope of consolidation and application of equity method
    Number of consolidated subsidiaries: 101 (Decreased by 1 company)
    Number of subsidiaries and affiliates accounted for by equity method: 17 (Increased by 2 companies)
  2. Application of accounting treatment peculiar to quarterly consolidated financial statement preparation (yes/no): Yes
    Note: Please see page 9 of the Attachment, "2. Consolidated Financial Statements and Main Notes: (3) Notes on consolidated financial statements (Application of accounting treatment peculiar to quarterly consolidated financial statement preparation)" for details.
  3. Change in accounting policies or estimates and retrospective restatements
  1. Change in accounting policies in accordance with revision of accounting standards: No
  2. Change in accounting policies other than item 1) above: No
  3. Change in accounting estimates: No
  4. Retrospective restatements: No
  1. Number of issued shares (common stock)

(Unit: share)

1)

Number of issued shares at end of period

Jun. 30, 2023

434,875,059

Mar. 31, 2023

434,875,059

(including treasury stock):

2)

Number of shares of treasury stock

Jun. 30, 2023

9,468,605

Mar. 31, 2023

1,455,205

at end of period:

3)

Average number of shares during period:

Apr. - Jun. 2023

429,336,886

Apr. - Jun. 2022

436,481,214

  • Quarterly review procedures by a certified public accountant or an audit firm do not apply to quarterly consolidated financial results bulletins.
  • Explanation related to appropriate use of results forecasts and other items warranting special mention
    1. The consolidated and non-consolidated earnings forecasts include elements of great uncertainty, including the impact of the state of affairs between Russia and Ukraine. The forecasts may change significantly depending on future developments. For details of the above forecasts, please refer to "1. Overview of Business Performance, etc. (2) Future outlook" on page 3 of the Attachment and "1. Overview of Business Performance, etc. (3) Revisions to FY2023 results forecasts" on page 4 of the Attachment.
    2. The information related to this Financial Results will be posted on the Web site of the Company.

Non-Consolidated Results Forecast for FY2023 ending March 31, 2024 (April 1, 2023 - March 31, 2024)

(Unit: million yen) (% of change from the corresponding period of previous year)

Net sales

Operating profit

Ordinary profit

Net income

Profit

per share

Full-year

2,377,400

-20.8%

81,300

-73.0%

111,900

-63.1%

93,900

-54.2%

228.03

yen

Note: Revision to the non-consolidated results forecast that has been disclosed lastly: Yes

Contents of Attachment

1. Overview of Business Performance, etc

2

(1)

Overview of business performance of the 1st quarter

2

(2)

Future outlook

3

(3)

Revisions to FY2023 results forecasts

4

2. Consolidated Financial Statements and Main Notes

5

(1)

Consolidated balance sheets

5

(2)

Consolidated statements of income and comprehensive income

7

Consolidated statement of income

7

(Three months ended June 30, 2023)

Consolidated statement of comprehensive income

8

(Three months ended June 30, 2023)

(3)

Notes on consolidated financial statements

9

(Note on going concerns' premise)

9

(Additional information)

9

(Significant changes in shareholders' equity)

9

(Application of accounting treatment peculiar to quarterly consolidated financial statement preparation)

9

1

1. Overview of Business Performance, etc.

  1. Overview of business performance of the 1st quarter

Three months ended June 30, 2023

(Unit: million yen)

Energy solution

Network

Overseas

Urban

development

FY2023

584,563

84,114

31,523

18,816

(% of total)

(81.3%)

(11.7%)

(4.4%)

(2.6%)

Sales

FY2022

558,660

88,635

35,041

14,997

(% of total)

(80.1%)

(12.7%)

(5.0%)

(2.2%)

Amount of change

25,903

-4,521

-3,518

3,819

(Rate of change)

4.6%

-5.1%

-10.0%

25.5%

FY2023

502,666

85,999

19,996

12,107

(% of total)

(80.9%)

(13.9%)

(3.2%)

(2.0%)

Operating

FY2022

519,776

86,307

20,169

11,124

expenses

(% of total)

(81.6%)

(13.5%)

(3.2%)

(1.7%)

Amount of change

-17,110

-308

-173

983

(Rate of change)

-3.3%

-0.4%

-0.9%

8.8%

FY2023

82,613

-1,884

12,254

6,906

(% of total)

(82.7%)

(-1.9%)

(12.3%)

(6.9%)

Segment

FY2022

38,891

2,328

16,022

4,080

profit/loss

(% of total)

(63.4%)

(3.8%)

(26.1%)

(6.7%)

Amount of change

43,722

-4,212

-3,768

2,826

(Rate of change)

112.4%

-

-23.5%

69.2%

Notes:

  1. Figures for sales include internal transactions. Figures for operating expenses do not include expenses that cannot be allocated to specific segments.
  2. Figures for segment profit/loss are adjusted against the amount based on operating profit/loss of consolidated financial statements plus or minus investment income or loss on equity method.

Apr. - Jun. 2023

Apr. - Jun. 2022

Change

% change

No. of customers for city

Thousands

8,749

8,689

60

0.7

gas retail sales

No. of customers (meters)

Thousands

12,350

12,223

127

1.0

volume

Residential

Mil. m3

612

657

-45

-6.8

Commercial

Mil. m3

476

446

30

6.8

sales

Industrial

Mil. m3

1,031

1,393

-362

-26.0

Subtotal

Mil. m3

1,508

1,839

-331

-18.0

gas

Supplies to other utilities

Mil. m3

346

361

-15

-3.9

City

Total

3

2,466

2,857

-391

-13.7

Mil. m

Average temperature

°C

19.5

19.0

0.5

-

Notes:

  1. No. of customers for city gas retail sales indicates the number of billed customers for city gas retail sales.
  2. No. of customers (meters) indicates the number of meters as a gas pipeline service provider.
  3. "Commercial" indicates sales to commercial, public and medical institutions.
  4. City gas sales volumes are on the basis of 45MJ/m3.

2

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Tokyo Gas Co. Ltd. published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 05:05:37 UTC.