Key Point of President's Regular Press Conference
Key Point of President's Regular Press Conference
Senior Managing Executive Vice President Mizutani’s message at the news conference announcing financial results for Q3 2023
January 31, 2024
Chubu Electric Power Co.,Inc.
- I will be discussing the following matters today:
- Financial results for the third quarter of fiscal 2023
Financial results for the third quarter of fiscal 2023
- Consolidated net sales for the third quarter of FY2023 totaled 2697.1 billion yen.
- Due to a decrease in fuel cost adjustment and other factors, net sales decreased by 116.9 billion yen year-on-year.
- Ordinary income totaled 436.9 billion yen.
- Income increased by 464.8 billion yen year-on-year as a result of the time-lag loss shifting to time-lag gain, a decrease in power supply procurement prices in Miraiz, and a decrease in expenses related to supply and demand adjustment in Power Grid.
- Consolidated ordinary income with the time lag removed was 319 billion yen, an increase of roughly 148 billion yen year-on-year.
- Net income attributable to owners of the parent company amounted to 357.1 billion yen, an increase of 394.5 billion yen year-on-year.
Business forecast for FY2023
- There is no change in our business outlook for FY2023, as we expect approximately the same results as those announced previously on October 27.
- Consolidated net sales are expected to be approximately 3,650 billion yen, consolidated ordinary income is expected to be approximately 410 billion yen, and net income attributable to owners of the parent is expected to be approximately 330 billion yen.
- Please note that President Hayashi will explain the dividend after this meeting.
- The business environment remains uncertain, and there is a risk of a major impact on income and expenditures depending on trends in fuel prices and electricity supply and demand. We will strive to steadily produce management results and increase corporate value by expanding investment in growth to realize our management vision, while working to reduce fluctuations in income and expenditures by strengthening our market responsiveness.
- This ends my presentation.