JERA's Revenue and Expenditure Level Reflecting the Integration of Existing Thermal Power Generation Businesses

JERA Co., Inc. (hereinafter "JERA"), TEPCO Fuel & Power, Inc. (hereinafter "TEPCO FP"), and Chubu Electric Power Co., Inc. (hereinafter "Chubu Electric Power") compiled JERA's post-integration revenue and expenditure levels in view of the agreement TEPCO FP and Chubu Electric Power made on February 27, 2018 on the integration of existing thermal power generation businesses into JERA (hereinafter "the Business"). JERA will formulate its post-integration business plan before business integration processes start in April 2019.

With the integration of the Businesses, a value chain ranging from fuel upstream and procurement, power generation, to electricity and gas wholesaling will be consolidated into JERA. To harness the advantage of the value chain, JERA will increase earnings not only by having business development, sales and procurement, and O&M functions play their respective roles but also by optimizing those functions by seeking their synergetic benefits. These efforts are expected to result in a consolidated net profit of around 200 billion JPY in FY2025.

JERA hopes to develop into a global energy company that can compete on an equal footing with rivals in the international energy market, delivering a stable supply of globally competitive electricity, gas, and other forms of energy, and at the same time improve the corporate value of both TEPCO and Chubu Electric Power groups.