Key Point of President's Regular Press Conference

Senior Managing Vice President Mizutani’s Message at the News Conference Announcing Financial Results for Q1 2024

July 31, 2024
Chubu Electric Power Co.,Inc.

I will be discussing the following matters today:

Financial results for the first quarter of fiscal 2024

In the first quarter of FY2024, Chubu Electric Power posted operating revenues of 820.5 billion yen.
Due to a decrease in fuel cost adjustment and other factors, net sales decreased by 77.0 billion yen year-on-year.
Ordinary income totaled 124.9 billion yen.
Income decreased by 118.0 billion yen year-on-year as a result of the reduction in time-lag margins, a decrease in power supply procurement proportion through the wholesale electricity trading market in Miraiz, and an increase in expenses related to supply and demand adjustment in Power Grid.
Consolidated ordinary income excluding the time-lag margins was about 111.0 billion yen, a decrease on the order of 34.0 billion yen year-on-year.
Quarterly net income attributable to owners of the parent company amounted to 99.5 billion yen, a decrease of 102.5 billion yen year-on-year.

There is no change in our business outlook for FY2024, as we expect approximately the same results as those announced previously on April 26.
Consolidated net sales are expected to be approximately 3,600 billion yen, consolidated ordinary income is expected to be approximately 215.0 billion yen, and net income attributable to owners of the parent is expected to be approximately 170.0 billion yen.
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.
The Group 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.