Tokyo Electric Power Company Holdings, Incorporated finalized its consolidated FY2016 Third Quarter (April 1 through December 31, 2016) Financial Results today.
On the revenue side, electricity sales revenues decreased 16.8% from the same period of the previous fiscal year to 3,235.3 billion yen due to a decrease in the unit price of electricity resulting from the effects of fuel cost adjustments etc.
Operating revenues including power sold to other utilities and suppliers (inter-regional electricity sales and electricity sales to other companies) etc. decreased 13.8% from the same period of the previous year to 3,877.6 billion yen. Ordinary revenues decreased 13.8% from the same period of the previous year to 3,925.2 billion yen.
As for expenditures, in spite of the suspension of all nuclear power stations, ordinary expenses decreased 12.1% from the same period of the previous year to 3,619.1 billion yen, resulting from substantially decreased fuel costs due to the fall of fuel prices and stronger yen rates as well as from the continued extensive cost reduction efforts by all of the group companies.
As a result, ordinary income decreased 29.8% from the same period of the previous year to 306.1 billion yen.
Net income in the quarter attributable to owners of parent amounted to 308.2 billion yen, with extraordinary income being 330.6 billion yen after accounting for 294.2 billion yen as grants-in-aid from Nuclear Damage Compensation and Decommissioning Facilitation Corporation and 36.4 billion yen as gain on change in equity, while 301.2 billion yen was recorded as expenses for nuclear damage compensation under extraordinary loss.
Regarding FY2016 projections, operating revenue is expected to decrease by 725 billion yen from the previous fiscal year to around 5,344 billion yen, resulting from a fall in electricity sales revenues due to the effects of fuel cost adjustments etc.
Due to lowered fuel prices and stronger yen rates as well as the extensive cost reduction efforts taken by all group companies on the expenditure side, ordinary income is expected to decrease by 35 billion yen from the previous fiscal year to around 291 billion yen.
【FY2016 3rd Quarter】
【Projections for FY2016】
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