Key Point of President's Regular Press Conference

Senior Managing Vice President Mizutani’s Message at the News Conference Announcing Financial Results for Q3 2024

February 03, 2025
Chubu Electric Power Co.,Inc.

I will be discussing the following matters today:

Financial results for the third quarter of fiscal 2024

Consolidated net sales for the third quarter of FY2024 totaled 2,651.6 billion yen. Due to a decrease in fuel cost adjustment and other factors, it decreased by 45.5 billion yen year-on-year.
Ordinary income totaled 222.2 billion yen.
Income decreased by 214.6 billion yen year-on-year as a result of the reduction in time-lag margins, a decrease in the proportion of power supply procurement 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 214.0 billion yen, a decrease on the order of 105.0 billion yen year-on-year.
Quarterly net income attributable to owners of the parent company amounted to 167.1 billion yen, a decrease of 189.9 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 October 29.
Consolidated net sales are expected to be approximately 3,600 billion yen, consolidated ordinary income is expected to be approximately 275 billion yen, and net income attributable to owners of the parent is expected to be approximately 210 billion yen.
We expect the business environment to remain uncertain due to ongoing geopolitical risks such as the situation in Ukraine and the Middle East, as well as shifting international political conditions, and rising prices, labor costs, and interest rates.
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.