Response to nuclear power plant restart preparation work and thermal power plant repair work

「By reporting segment, the valve business recognized revenue from the previously mentioned periodic inspection and repair work at domestic nuclear power plants. Revenue was ¥4,234 million, up 42.7% year on year, while segment profit rose 168.1% to ¥1,026 million, with the substantial increase in revenue contributing to higher profit than in the same period of the previous year.」

「関西電力高浜原発、四国電力伊方原発や九州電力玄海原発及び川内原発において定期検査工事が完了し売上が計上された」

「In the core valve business, periodic inspection work was completed and revenue recognized at Kansai Electric Power's Takahama and Oi nuclear power plants, Shikoku Electric Power's Ikata Nuclear Power Plant and Kyushu Electric Power's Sendai Nuclear Power Plant. Revenue was also recognized from product sales to overseas customers.」

「In the core valve business, periodic inspection work was completed and revenue recognized at Kansai Electric Power's Takahama and Oi nuclear power plants, Shikoku Electric Power's Ikata Nuclear Power Plant and Kyushu Electric Power's Sendai Nuclear Power Plant. Revenue was also recognized from product sales to overseas customers.」

「In the core valve business, multiple periodic inspection projects were completed and revenue recognized at Kansai Electric Power's Takahama, Oi and Mihama nuclear power plants and Kyushu Electric Power's Genkai and Sendai nuclear power plants. Revenue was also recognized from overseas projects.」

「In the valve business, periodic inspection work was completed and recognized as revenue at Kansai Electric Power's Takahama Nuclear Power Plant Units 2 and 3, Oi Nuclear Power Plant Unit 4 and Mihama Nuclear Power Plant Unit 3, and Kyushu Electric Power's Genkai Nuclear Power Plant Unit 3, among others.」

「During the first quarter of the current fiscal year, in our core valve business, we completed periodic inspection work and recognized revenue at Kansai Electric Power's Takahama Nuclear Power Station Unit 2 and Oi Nuclear Power Station Unit 4. Higher revenue from the steelmaking and electrical equipment-related businesses also contributed, bringing total revenue to ¥2,764 million, up 67.5% year on year.」

「Against this backdrop, during the nine-month period ended in the third quarter of the fiscal year under review, revenue was recognized in the core valve business from periodic inspection work at Kansai Electric Power's Oi Nuclear Power Plant Unit 3 and Takahama Nuclear Power Plant Unit 4, Kyushu Electric Power's Sendai Nuclear Power Plant Unit 1 and Genkai Nuclear Power Plant Units 3 and 4, and elsewhere. Revenue was also recognized from the electrical equipment business of Taiyo Dengi Co., Ltd., which became a subsidiary in the previous fiscal year.」

「Against this backdrop, during the six-month period of the second quarter of the fiscal year under review, the valve business, our core business, recorded revenue from periodic inspection work at Kansai Electric Power's Oi Nuclear Power Plant Unit 3 and Takahama Nuclear Power Plant Unit 4, as well as Kyushu Electric Power's Genkai Nuclear Power Plant Units 3 and 4, among other projects.」

「Against this backdrop, during the three-month period ended in the first quarter of the fiscal year under review, revenue was recognized in the core valve business from periodic inspection work at Kansai Electric Power's Takahama Nuclear Power Plant Unit 4 and repair work at Oi Nuclear Power Plant Unit 3. Revenue was also recognized from the electrical equipment business of Taiyo Dengi Co., Ltd., which became a subsidiary in the previous fiscal year. As a result, total revenue was ¥1,650 million, up 23.0% year on year.」

「In the core valve business, periodic inspection work at Kyushu Electric Power's Sendai Nuclear Power Plant Unit 1 was completed and recognized as revenue, but there was no other significant revenue. Efforts therefore focused mainly on construction projects for nuclear power plants whose delivery dates were scheduled from the fourth quarter onward.」

「In the core valve business, periodic inspection work at Kyushu Electric Power's Sendai Nuclear Power Plant Unit 1 was completed and recognized as revenue, but there was no other significant revenue. Efforts therefore focused mainly on construction projects for nuclear power plants whose delivery dates were scheduled from the third quarter onward.」

「The core valve business generated no significant revenue, and efforts focused mainly on construction projects for nuclear power plants whose delivery dates were scheduled from the second quarter onward.」

「In addition to completing and recognizing revenue from periodic inspection work at Kyushu Electric Power's Sendai Nuclear Power Plant Units 1 and 2, Genkai Nuclear Power Plant Units 3 and 4, Kansai Electric Power's Takahama Nuclear Power Plant Units 3 and 4 and Oi Nuclear Power Plant Units 3 and 4, revenue was recognized from maintenance and repair work at Kansai Electric Power's Mihama Nuclear Power Plant Unit 3, the first nuclear power plant in Japan to restart after more than 40 years of operation, and at Takahama Nuclear Power Plant Units 1 and 2, where preparations for restart were under way.」

「Against this backdrop, during the nine-month period ended in the third quarter of the fiscal year under review, periodic inspection work was completed and recognized as revenue at Kyushu Electric Power's Sendai Nuclear Power Plant Units 1 and 2, Genkai Nuclear Power Plant Units 3 and 4, Kansai Electric Power's Takahama Nuclear Power Plant Units 3 and 4, and elsewhere. Together with an increase in nuclear power-related revenue, this brought total revenue to ¥8,132 million, up 24.1% year on year.」

「During the first six months of the current fiscal year, we completed periodic inspection work and recognized revenue at Kyushu Electric Power's Sendai Nuclear Power Station Units 1 and 2 and Genkai Nuclear Power Station Units 3 and 4. In addition, increased nuclear power-related revenue brought total revenue to ¥6,281 million, up 24.3% year on year.」

「Against this backdrop, during the first quarter of the current fiscal year, we completed periodic inspection work at Kyushu Electric Power's Sendai Nuclear Power Station Unit 1 and recognized the associated revenue. Although we focused on other construction projects for nuclear power plants, few projects reached the revenue-recognition stage because of delivery schedules, resulting in total revenue of ¥1,864 million, down 17.9% year on year.」

「In addition to completing and recognizing revenue from periodic inspection work at Kansai Electric Power's Oi Nuclear Power Plant Unit 4 and Takahama Nuclear Power Plant Unit 4, Kyushu Electric Power's Genkai Nuclear Power Plant Unit 4 and Sendai Nuclear Power Plant Units 1 and 2, revenue was recognized from other equipment work at Kansai Electric Power's Mihama Nuclear Power Plant, Shikoku Electric Power's Ikata Nuclear Power Plant and elsewhere.」

「During the first nine months of the current fiscal year, we completed periodic inspection work and recognized revenue at Kansai Electric Power's Oi Nuclear Power Station Unit 4 and Takahama Nuclear Power Station Unit 4, and Kyushu Electric Power's Genkai Nuclear Power Station Unit 4 and Sendai Nuclear Power Station Units 1 and 2. Revenue from other equipment work was also recognized at Kansai Electric Power's Mihama Nuclear Power Station and Shikoku Electric Power's Ikata Nuclear Power Station, among others. Total revenue, led by nuclear power-related revenue, was ¥6,554 million, up 37.2% year on year.」

「In addition to completing and recognizing revenue from periodic inspection work at Kansai Electric Power's Oi Nuclear Power Plant Unit 4, Takahama Nuclear Power Plant Unit 4, Kyushu Electric Power's Genkai Nuclear Power Plant Unit 4, and Sendai Nuclear Power Plant Units 1 and 2, revenue was recognized from other equipment work at Kansai Electric Power's Mihama Nuclear Power Plant and Shikoku Electric Power's Ikata Nuclear Power Plant, among others.」

「Periodic inspection work at Kansai Electric Power's Oi Nuclear Power Plant Unit 4, Kyushu Electric Power's Genkai Nuclear Power Plant Unit 4 and Sendai Nuclear Power Plant Unit 1 was completed and recorded as revenue, in addition to sales of valve products related to SSARFs,」

「During the first nine months of the current fiscal year, we recognized revenue from periodic inspection work at Kansai Electric Power's Takahama Nuclear Power Station Unit 3 and from valve products for the Fukushima Natural Gas Power Station being newly constructed by Fukushima Gas Power Co., Ltd. Periodic inspection work at Kansai Electric Power's Oi Nuclear Power Station Unit 3 and Kyushu Electric Power's Genkai Nuclear Power Station Unit 3 was also under way, with revenue scheduled to be recognized during the current consolidated accounting period.」

「Against this backdrop, during the first six months of the current fiscal year, we completed periodic inspection work at Kansai Electric Power's Takahama Nuclear Power Station Unit 3 and recognized the associated revenue. The proportion of nuclear power-related revenue from valve products also increased, bringing total revenue to ¥3,263 million, up 9.9% year on year.」

「Periodic inspection work for Kansai Electric Power's Takahama Nuclear Power Plant Unit 3 was completed and recorded as revenue, while the proportion of nuclear-related sales also increased in valve products,」

「The company sought to expand earnings in the valve business by focusing, for nuclear plants, on periodic inspection work after restart, work related to equipment for measures against specified severe accidents, and preparation work for the restart of plants scheduled to resume operations, and, for thermal power plants, on the manufacture of replacement valves and parts and maintenance work arising from demand for valve maintenance and repairs, including new-build projects in Japan and overseas.」

「By reporting segment, in valve business products, revenue was recognized for high-pressure valve packages for a thermal power plant in Indonesia and for Kobe Steel's Moka power plant. The accumulation of smaller projects for thermal power generation also resulted in revenue exceeding that of the same period of the previous year.」

「With no major revenue-generating projects in its core valve business, the company worked mainly on projects whose delivery dates fell in or after the second quarter, including periodic inspection work at Unit 3 of Shikoku Electric Power's Ikata nuclear plant and the manufacture of valve products for thermal power plants in Indonesia and South Korea.」

「Under these conditions, during the consolidated fiscal year, in addition to nuclear-related projects centered on the first periodic inspection work at Kyushu Electric Power's Sendai nuclear plant since its restart, periodic inspection work and pre-restart inspection work for Units 3 and 4 of Kansai Electric Power's Takahama nuclear plant, and restart preparation work for Units 3 and 4 of Kyushu Electric Power's Genkai nuclear plant, the company focused the valve business on the manufacture of replacement valves and parts and maintenance work arising from demand for valve maintenance and repairs at thermal power plants.」

「By reporting segment, as described above, nuclear-related revenue in the valve business, including periodic inspection work for Kyushu Electric Power's Sendai nuclear plant, intermediate inspection work for Unit 3 of Hokkaido Electric Power's Tomari nuclear plant and restart preparation-related work for Kansai Electric Power's Ohi nuclear plant, accounted for just under half of valve business revenue. Revenue related to services, including valve maintenance, was also a core component.」

「During the first six months of the fiscal year, the company worked with full commitment toward achieving its earnings forecast for the fiscal year and the milestones in its medium-term management plan by expanding the steelmaking and decontamination businesses, in addition to focusing the valve business on nuclear-related projects, including the first periodic inspection work at Kyushu Electric Power's Sendai nuclear plant since its restart and restart preparation work for nuclear plants scheduled to restart, as well as the manufacture of replacement valves and parts and maintenance work arising from demand for valve maintenance and repairs at thermal power plants.」

「During the first quarter of the fiscal year, the valve business focused on periodic inspection work at Kyushu Electric Power's Sendai nuclear plant and Kansai Electric Power's Takahama nuclear plant, spot work to prepare nuclear plants for restart, and valve inspection work for thermal power plants.」

「The company continued to win and sell spot projects, including various valves, services and related equipment associated with preparations and remedial work for future nuclear plant restarts, while recognizing the maintenance of the periodic inspection system after restart, in terms of both technical expertise and construction capacity, as an important issue.」

「As in previous years, the valve business focused on spot work and other projects for nuclear plants to prepare for future restarts, and repair work and other projects for thermal power plants that have continued operating for extended periods, where work had to be completed within limited timeframes. Drawing on its many years of experience, the company conducted sales activities anticipating customer needs.」