Chubu Electric Power Co.,Inc. | Executive Vice President Kataoka’s message at the news conference announcing financial results for Q1 2019 - Key Point of President's Regular Press Conference (2019)
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Key Point of President's Regular Press Conference (2019) Executive Vice President Kataoka’s message at the news conference announcing financial results for Q1 2019

July 31, 2019

Chubu Electric Power Co.,Inc.

  • I will be discussing the following matters today:
  • Financial results for the first quarter of fiscal 2019

Financial results for Q1 2019

  • Our consolidated operating revenues for Q1 2019 totaled 754.4 billion yen, up 69.9 billion yen from the same period last year due to an increase attributable to fuel cost adjustments and an increase of surcharge and grant associated with the use of renewable energy sources.
  • Our consolidated ordinary income totaled 80.5 billion yen, up 41 billion yen from the same period last year as a result of a downturn in fuel prices turning time-lag loss to time-lag gain.
  • The ordinary income excluding the effect of the time-lag gain came to approximately 59 billion yen, up 5 billion yen from the same period last year thanks to an income increase by JERA despite sales competition, and additional efforts made to reduce and streamline the cost of securing energy sources.
  • In this quarter, we also registered 19 billion yen in extraordinary income, which was valuation gain arising from a consolidated accounting procedure associated with the integration of existing thermal power businesses into JERA.
  • As for business outlook for fiscal 2019…
  • There is no change to our business outlook, as we expect about the same figures as those released previously on April 26.
  • We foresee the consolidated operating revenues of 3.5 trillion yen and consolidated ordinary income of 185 billion yen.
  • The ordinary income excluding the effect of time-lag gain or loss is expected to finish at around 150 billion yen.
  • We will continue to make Group-wide efforts to streamline our business and expand revenues to earn the trust and meet the expectations of our customers, shareholders and society in general.
  • This ends my presentation.