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Press Release (Oct 31, 2016)FY 2016 Second Quarter Financial Results

Tokyo Electric Power Company Holdings, Incorporated finalized its consolidated FY2016 Second Quarter (April 1 through September 30, 2016) Financial Results today.

On the revenue side, electricity sales revenues decreased 18.8% from the same period of the previous fiscal year to 2,211.8 billion yen due to a decrease in the unit price of electricity resulting from fuel cost adjustments etc., and a 3.3% decrease in electricity sales to 119.6 billion kWh, etc. Operating revenues including power sold to other utilities and suppliers (inter-regional electricity sales and electricity sales to other companies) etc. decreased 15.5% from the same period of the previous year to 2,643.3 billion yen. Ordinary revenues decreased 15.4% from the same period of the previous year to 2,677.1 billion yen.

As for expenditures, in spite of the suspension of all nuclear power stations, ordinary expenses decreased 14.1% from the same period of the previous year to 2,402.9 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 24.9% from the same period of the previous year to 274.2 billion yen.

Net income in the quarter attributable to owners of parent decreased 66.3% from the same period of the previous year to 94.1 billion yen after accounting for 168.5 billion yen in nuclear damage compensation costs as extraordinary loss, while 36.4 billion yen was recorded as gain on change in equity under extraordinary income due to transfer of the thermal fuel business and overseas thermal power generation business etc. of TEPCO Fuel & Power, Incorporated to JERA Co., Inc., an affiliated company accounted for under the equity method.

FY2016 projections is to be determined because the present situation makes it difficult to release an operation plan for the Kashiwazaki-Kariwa Nuclear Power Station, with all of its reactors currently out of operation.

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