Key Point of President's Regular Press Conference

Senior Managing Vice President Mizutani’s Message at the News Conference Announcing Financial Results for Q1 2022

July 27, 2022
Chubu Electric Power Co.,Inc.

I will be discussing the following matters today:
- Financial results for the first quarter of fiscal 2022

Financial Results for the First Quarter of FY 2022

The first quarter of FY2022 ended with Chubu Electric Power posting operating revenues of 765.9 billion yen. The increase in fuel cost adjustment due to higher fuel cost resulted in revenue increase by 241 billion yen year-on-year.
Ordinary income amounted to 32.2 billion yen.
Although income increased due to review of sales cost according to supply cost of each customer at Miraiz, ordinary income decreased by 16.3 billion yen year-on-year due to time-lag gain turning into a time-lag loss resulting from fuel price rise. This resulted in revenue increase and income decrease for the first time in five years since the financial results for the first quarter of FY2017.
Net income attributable to parent company shareholders was 20.5 billion yen, which is a decrease of 13.1 billion yen year-on-year.

Next, FY2022 business forecast is undetermined, since resource prices and wholesale electric power exchange prices, which are the premise for our business forecast, are still uncertain and it is difficult to make rational assumptions.
We will announce our business forecast as soon as rational assumptions become possible.
It is difficult to make a forecast, but the environment around the Chubu Electric Power Group is becoming even more severe due to the uncertain situation of Sakhalin-2 and increased wholesale electric power exchange prices in the summer in the midst of resource prices rising worldwide. As we strengthen our market responsiveness and thoroughly reduce cost, we will strive to improve profitability by continuing to make our utmost business efforts through group-wide coordination.
This ends my presentation.