KYUSHU ELECTRIC POWER COMPANY, INCORPORATED July 30, 2021
The 1st Quarter of the Fiscal Year Ending March 31, 2022 Financial Results Overview 〔Japan GAAP〕（Consolidated）
Kyushu Electric Power Co., Inc.
Stock code: 9508 URL: https://www.kyuden.co.jp/english_index.htmlStock listed on: Tokyo SE, Fukuoka SE
Representative: Mr. Kazuhiro Ikebe, President & Chief Executive Officer
Contact: Investor Relations Group, Corporate Strategy Division. Tel: +81-92-726-1575
Quarterly financial report submission date (plan): August 11, 2021
Date to start dividend payments: －
Preparation of supplementary materials for quarterly financial results: Yes
Information meeting for quarterly financial results: No
(Rounded down to the nearest million yen)
1. Consolidated Financial Results for the Three Months (April 1, 2021 to June 30, 2021)
(1) Consolidated Operational Results | (% shows the changes from the same quarter period of the previous FY) | ||||||
Sales | Operating profit | Ordinary profit | |||||
(Unit: million yen) | (%) | (Unit: million yen) | (%) | (Unit: million yen) | (%) | ||
April 1, 2021 - June 30, 2021 | 349,994 | 4.7 | 30,457 | -2.3 | 24,067 | -9.9 | |
April 1, 2020 - June 30, 2020 | 334,131 | － | 31,177 | － | 26,723 | － | |
(Note) Comprehensive income : FY2021 1Q 21,514 million yen ( 44.7%) FY2020 1Q | 14,867 million yen ( －%) | ||||||
Profit attributable to | EPS | Fully-diluted EPS | |||||
owners of parent | |||||||
(Unit: million yen) | (%) | (Unit: yen) | (Unit: yen) | ||||
April 1, 2021 - June 30, 2021 | 15,813 | -13.7 | 32.32 | 28.93 | |||
April 1, 2020 - June 30, 2020 | 18,320 | － | 37.62 | 33.78 |
(Note) We have applied the "Accounting Standard for Revenue Recognition" from the beginning of the first quarter starting April 1st, 2021 (FY2021 1Q). Based on this new standard, the "Electricity Business Accounting Regulations" were revised and we have made changes in our method of accounting. "Renewable Energy Power Promotion Surcharge" and "Grant based on the Act on Purchase of Renewables", which are related to the feed-in tariff system for renewable energy, are not being recorded as net sales but are being deducted from corresponding operating expenses. As a result, the consolidated operating results for the first quarter of the fiscal year ending March 31, 2021 are shown after retroactive application of the above. The percentage change from the same period of the previous fiscal year for the first quarter starting April 1st, 2020 is not shown because it has not been calculated.
(2) Consolidated Financial Position
Total assets | Net assets | Shareholders' equity ratio | |
(Unit: million yen) | (Unit: million yen) | (%) | |
As of June 30, 2021 | 5,143,567 | 693,498 | 12.9 |
As of March 31, 2021 | 5,128,563 | 681,470 | 12.7 |
(Reference) Shareholders' equity : As of June 30, 2021 : 664,156 million yen As of March 31, 2021: 652,307 million yen
(Note) We have applied the "Accounting Standard for Revenue Recognition" from the beginning of the first quarter starting April 1st, 2021 (FY2021 1Q). As a result, the consolidated financial status for the fiscal year ended March 2021 is shown after the retrospective application of the said accounting standards.
2. Dividends
Annual dividends per share | |||||
1Q | 2Q | 3Q | Year-end | Total | |
(Unit: yen) | (Unit: yen) | (Unit: yen) | (Unit: yen) | (Unit: yen) | |
FY2020 ended March 31, 2021 | ― | 17.50 | ― | 17.50 | 35.00 |
FY2021 ended March 31, 2022 | ― | ||||
FY2021 ending March 31, 2022 | 20.00 | ― | 20.00 | 40.00 | |
(forecast) | |||||
(Note) Revision of the devidend forecast : No
Dividends mentioned the above are regarding common shares. See 'Dividends for Class Shares' regarding dividends for class shares which differ in shareholders' right from common shares.
3. Consolidated Financial Results Forecasts for FY2021 (April 1, 2021 to March 31, 2022)
Sales | Operating profit | Ordinary profit | Profit attributable to | EPS | |||||
owners of parent | |||||||||
(Unit: million yen) | (%) | (Unit: million yen) | (%) | (Unit: million yen) | (%) | (Unit: million yen) | (%) | (Unit: yen) | |
Full-year | 1,510,000 | -0.8 | 100,000 | 30.0 | 70,000 | 26.9 | 45,000 | 41.4 | 90.69 |
(Note) Revision of financial results forecasts : No
We have applied the "Accounting Standard for Revenue Recognition" from the beginning of the first quarter starting April 1st, 2021 (FY2021 1Q). Based on this new standard, the "Electricity Business Accounting Regulations" were revised and we have made changes in our method of accounting. "Renewable Energy Power Promotion Surcharge" and "Grant based on the Act on Purchase of Renewables", which are related to the feed-in tariff system for renewable energy, are not being recorded as net sales but are being deducted from corresponding operating expenses.Therefore, the percentage change from the previous fiscal year is the percentage change from the actual results for the fiscal year ended March 31, 2021, after applying these changes retroactively.
- Note
(1)Changes in significant subsidiaries : No
(changes in scope of specified subsidiaries)
Newly added: － | Excluded: － |
- Adoption of methods specific in preparing quarterly consolidated financial statements in accounting practice : No
- Changes in accounting principles, changes in accounting estimates, restatement
-
Changes in accounting principles in line with revised accounting standards : Yes
② Changes in accounting principles other than ① : No
③ Changes in accounting estimates : No
④ Restatement : No
(Note) For details, see "(3) Notes on Quarterly Consolidated Financial Statements :Changes in accounting policies on Page 6.
- Number of common stocks issued and outstanding
- Total stocks including treasury stocks at the end of period
FY2021 1Q | 474,183,951 shares | FY2020 | 474,183,951 shares |
② Treasury stocks at the end of period | |||
FY2021 1Q | 1,161,399 shares | FY2020 | 1,158,956 shares |
- Average number of stocks during the period (Quarter Total)
FY2021 1Q 473,023,193 shares | FY2020 1Q 472,988,569 shares |
(Note) The number of our shares regarding "Board Benefit Trust (BBT)" held by the Trust was included in the number of treasury stocks at the end of period ( 603,000 shares as of FY2021 1Q and 603,000 shares as of FY2020) . In addition, the number
of our shares held by the Trust was included in the number of treasury stocks, which was to be deducated from the calculation of the average number of stocks during the period. ( 603,000 shares for FY2021 1Q and 648,000 share for FY2020 1Q)
*Quarterly financial results is not the object of quarterly review.
*Notes on the proper use of the forecasts
Looking-forward statements are based on information available at the date of the release of this document. Due to various factors, the actual result may differ from these statements.
We will post supplementary materials for quarterly financial results on our website.
(Reference) Dividends for Class Shares
The breakdown of dividend for class shares which differ in shareholders' rights from common shares is as follows.
Class A | Annual dividends per share | |||||
preferred shares | 1Q | 2Q | 3Q | Year-end | Total | |
(Unit: yen) | (Unit: yen) | (Unit: yen) | (Unit: yen) | (Unit: yen) | ||
FY2020 ended March 31, 2021 | ― | 1,050,000.00 | ― | 1,050,000.00 | 2,100,000.00 | |
FY2021 ended March 31, 2022 | ― | |||||
FY2021 ending March 31, 2022 | ― | 1,050,000.00 | ― | 1,050,000.00 | 2,100,000.00 | |
(forecast) | ||||||
(Note) Revision of the dividend forecast : No |
Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2021 1Q
- Table of Contents of Attached Material
1. Quarterly Consolidated Financial Statements and Notes ・・・・・・・・・・・・・・・・・ 2
- Quarterly Consolidated Balance Sheets ・・・・・・・・・・・・・・・・・・・・・・ 2
- Quarterly Consolidated Income Statements
and Quarterly Consolidated Comprehensive Income Statements ・・・・・・・・・・・・ 4
- Notes on Quarterly Consolidated Financial Statements ・・・・・・・・・・・・・・・・ 6 (Notes on the premise of going concern) ・・・・・・・・・・・・・・・・・・・・・ 6 (Notes in case of drastic changes in the amount of equity)・・・・・・・・・・・・・・・ 6 (Changes in accounting policies) ・・・・・・・・・・・・・・・・・・・・・・・・・6 (Significant subsequent event) ・・・・・・・・・・・・・・・・・・・・・・・・・・7
2. Others ・・・・・・・・・・・・・・・・・ ・・・・・・・・・・・・・・・・・・・・ 7 (Major effects of the Corona virus) ・・・・・・・・・・・・・・・・・・・・・・・ 7
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Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2021 1Q
1. Quarterly Consolidated Financial Statements and Notes
(1) Quarterly Consolidated Balance Sheets
（Unit：million yen） | ||
As of March 31, 2021 | As of June 30, 2021 | |
Assets | ||
Non-current assets | 4,497,950 | 4,513,894 |
Electric utility plant and equipment | 2,701,288 | 2,696,962 |
Hydroelectric power production facilities | 256,238 | 256,784 |
Thermal power production facilities | 274,643 | 270,344 |
Nuclear power production facilities | 547,368 | 540,517 |
Internal combustion engine power production facilities | 20,874 | 21,133 |
Renewable power production facilities | 25,124 | 24,890 |
Transmission facilities | 570,968 | 572,008 |
Transformation facilities | 218,620 | 219,839 |
Distribution facilities | 645,239 | 648,239 |
General facilities | 128,636 | 129,773 |
Other electric utility plant and equipment | 13,574 | 13,432 |
Other non-current assets | 383,892 | 383,131 |
Construction in progress | 621,441 | 638,916 |
Construction and retirement in progress | 504,045 | 516,610 |
Special account related to nuclear power decommissioning | 41,926 | 41,709 |
Special account related to reprocessing of spent nuclear fuel | 75,470 | 80,596 |
Nuclear fuel | 229,765 | 222,495 |
Loaded nuclear fuel | 54,930 | 47,601 |
Nuclear fuel in processing | 174,835 | 174,894 |
Investments and other assets | 561,562 | 572,387 |
Long-term investments | 215,981 | 231,126 |
Retirement benefit asset | 22,493 | 23,475 |
Deferred tax assets | 144,062 | 138,812 |
Other | 180,427 | 180,361 |
Allowance for doubtful accounts | △1,402 | △1,388 |
Current assets | 630,612 | 629,672 |
Cash and deposits | 234,163 | 174,338 |
Notes and accounts receivable - trade | 148,844 | － |
Notes and accounts receivable - trade, and contract assets | － | 151,472 |
Inventories | 70,426 | 82,458 |
Other | 180,913 | 224,678 |
Allowance for doubtful accounts | △3,734 | △3,274 |
Total assets | 5,128,563 | 5,143,567 |
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Kyushu 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 08:08:08 UTC.
