FY2021 Financial Results
April 28, 2022
Tokyo Electric Power Company Holdings, Inc.
Today, Tokyo Electric Power Company Holdings, Inc. (TEPCO Holdings) released its consolidated financial results for FY2021 (April 1, 2021~March 31, 2022).
Despite the entire Group’s continual efforts to improve income and expenditure, consolidated ordinary income decreased 76.3% year-on-year (YoY) to 44.9 billion yen due to worsening of the impact for JERA Co., Inc. from the time lag inherent to the fuel adjustment system and a decrease in retail power sales volume.
Furthermore, even though 116.6 billion yen of subsidies from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation was appropriated as extraordinary income, net income attributable to owners of the parent decreased 96.9% to 5.6 billion yen due to the posting of 117.7 billion yen of nuclear damage compensation and 15.8 billion yen of loss on the return of imbalance income and expenditure as extraordinary loss, and the posting of 12.8 billion yen of disaster-related extraordinary loss resulting from the expenses required to repair assets damaged by the earthquake that occurred off the coast of Fukushima Prefecture on March 16, 2022.
[Ordinary income/loss of core companies]
The ordinary income/loss of each core company during FY2021 was as follows:
- Ordinary income for TEPCO Holdings increased by 80.9 billion yen YoY to 73.0 billion yen due to an increase in received dividends from core companies.
- Ordinary income for TEPCO Fuel & Power, Inc. decreased by 60.1 billion yen YoY to 9.6 billion yen due to worsening of the impact for JERA Co., Inc. of the time-lag inherent to the fuel cost adjustment system.
- Ordinary income for TEPCO Power Grid Inc. decreased by 50.6 billion yen YoY to 118.3 billion yen due to an increase in facility-related expenses.
- Ordinary income for TEPCO Energy Partner, Inc. decreased by 72.9 billion yen YoY and resulted in a loss of 66.4 billion yen due to a decrease in retail power sales volume caused by increased competition and the rising price of natural resources.
- Ordinary income for TEPCO Renewable Power Inc. decreased by 2.1 billion yen YoY to 45.9 billion yen due to an increase in fixed asset taxes despite an increase in wholesale power sales.
[FY2022 Performance Forecast]
Our FY2022 performance forecast has not yet been finalized. We shall make an announcement when the performance forecast is ready for release.