Recovery in the nuclear power market and earnings recovery driven by periodic inspection projects
First written in FY2016-Q3. 24 of 36 entries say "Advanced", first in FY2017-Q1. Latest entry: 2026-08-07.
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- 2026-08-07AdvancedResults
「当第３四半期連結累計期間におきましては、主要な事業であるバルブ事業では、関西電力高浜原発及び大飯原発、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ほか、電気設備関連事業の増収の影響もあり、全体の売上高は85億43百万円（前年同期比15.4％増）となりました。」
複数原発の定期検査工事の完了・売上計上が続き、原発関連収益の回復が第3四半期累計でも進展した。 - FY2026-H1AdvancedAnnual report
「During the current interim consolidated accounting period, in the valve business, our principal business, periodic inspection work was completed and revenue recognized at Kansai Electric Power's Takahama Nuclear Power Station, Shikoku Electric Power's Ikata Nuclear Power Station, and Kyushu Electric Power's Genkai and Sendai nuclear power stations. Increased revenue from the electrical equipment-related business also contributed, bringing total revenue to ¥6,003 million, up 27.0% year on year.」
Periodic inspection work at Takahama, Ikata, Genkai and Sendai nuclear power stations was completed and recognized as revenue, bringing revenue from periodic inspection work at nuclear power plants to ¥1,325 million, up 45.7% year on year. It was also stated that Kashiwazaki-Kariwa Nuclear Power Station Unit 6 resumed operations in April 2026 for the first time in approximately 14 years, marking tangible progress in the recovery and monetization of the nuclear power market. - 2026-05-11AdvancedResults
「During the current interim consolidated accounting period, in the valve business, our principal business, periodic inspection work was completed and revenue recognized at Kansai Electric Power's Takahama Nuclear Power Station, Shikoku Electric Power's Ikata Nuclear Power Station, and Kyushu Electric Power's Genkai and Sendai nuclear power stations. Increased revenue from the electrical equipment-related business also contributed, bringing total revenue to ¥6,003 million, up 27.0% year on year.」
複数原発の定期検査工事が完了・売上計上され、原発関連収益の回復が当中間期の増収として進展した。 - FY2025Stable earnings expected alongside weaker resultsAnnual report
「Fortunately, PWRs, the main market for our Group, have resumed operations at 12 reactors at 6 nuclear power stations to date, creating conditions in which stable earnings from periodic inspections at those nuclear power stations can be expected for a certain period going forward.」
While stable earnings from PWR restarts and periodic inspections were expected, revenue from periodic inspection work at nuclear power plants during the fiscal year fell 29.7% year on year, presenting both the expectations and the weaker results. - FY2025-H1SoftenedAnnual report
「During the current interim consolidated accounting period, in the valve business, our principal business, periodic inspection work was completed and revenue recognized at Kansai Electric Power's Takahama and Oi nuclear power stations, Shikoku Electric Power's Ikata Nuclear Power Station and Kyushu Electric Power's Sendai Nuclear Power Station. Revenue was also recognized from product sales to overseas customers, but total revenue was ¥4,725 million, down 13.2% year on year, as revenue from valve business construction work fell short of the strong level recorded in the same period of the previous year.」
Revenue continued to be recognized from periodic inspection work at multiple nuclear power stations and product sales to overseas customers, but it did not match the strong construction revenue recorded in the same period of the previous year, and total revenue fell 13.2% year on year. While expectations for a recovery in nuclear power-related earnings remain, results for the interim period were weak. - FY2024AdvancedAnnual report
「Fortunately, PWRs, the main market for our Group, have resumed operations at 12 reactors at 6 nuclear power stations to date, creating conditions in which stable earnings from periodic inspections at those nuclear power stations can be expected for a certain period going forward.」
The track record of PWR restarts advanced to 12 reactors at 6 nuclear power stations, and we explained that conditions had reached a stage where stable earnings from periodic inspections could be expected. Revenue from periodic inspection work at nuclear power plants was also ¥2,579 million, up 110.6% year on year. - FY2024-Q2AdvancedAnnual report
「During the first six months of the current fiscal year, in the valve business, we completed periodic inspection work and recognized revenue at Kansai Electric Power's Takahama Nuclear Power Station Units 2 and 3, Oi Nuclear Power Station Unit 4, Mihama Nuclear Power Station Unit 3 and Kyushu Electric Power's Genkai Nuclear Power Station Unit 3. Revenue from the steelmaking and electrical equipment-related businesses also increased, resulting in higher revenue in all reporting segments and total revenue of ¥5,442 million, up 27.7% year on year.」
Periodic inspection work at Takahama Units 2 and 3, Oi Unit 4, Mihama Unit 3 and Genkai Unit 3 was completed and recognized as revenue. Revenue from periodic inspection work at nuclear power plants was ¥1,293 million, up 99.8% year on year. The recovery in nuclear power-related earnings advanced through the completion of multiple projects and substantial revenue growth. - FY2024-Q1AdvancedAnnual report
「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.」
Periodic inspection work at Takahama Nuclear Power Station Unit 2 and Oi Nuclear Power Station Unit 4 was completed and recognized as revenue, marking tangible progress in the recovery of earnings from periodic inspections at nuclear power plants. - FY2023-Q3AdvancedAnnual report
「During the first nine months of the current fiscal year, in addition to revenue recognized from periodic inspection work at Kansai Electric Power's Oi Nuclear Power Station Unit 3 and Takahama Nuclear Power Station Unit 4, and Kyushu Electric Power's Sendai Nuclear Power Station Unit 1 and Genkai Nuclear Power Station Units 3 and 4, revenue was recognized from the electrical equipment-related business of 太陽電業株式会社, which became a subsidiary during the previous consolidated fiscal year. Total revenue was ¥6,685 million, up 21.4% year on year.」
Revenue was recognized from periodic inspection work at Oi, Takahama, Sendai and Genkai, and total revenue rose 21.4% year on year. Monetization of nuclear power-related demand advanced further from the second quarter. - FY2023-Q2AdvancedAnnual report
「However, the Basic Policy for the Realization of GX, approved by the Cabinet in February 2023 to achieve decarbonization, a stable energy supply and economic growth through GX in Japan, stated that nuclear power would play an important role as a decarbonized baseload power source for a stable electricity supply and the achievement of carbon neutrality. Subject to ensuring safety, the policy indicated the need to utilize nuclear power through restarts and extensions of operating periods, new construction and replacement, and consideration of decommissioning.」
The Basic Policy for the Realization of GX, including restarts of nuclear power plants, extensions of operating periods, new construction and replacement, and consideration of decommissioning, was approved by the Cabinet in February 2023, giving further specificity to policy on the use of nuclear power. - FY2023-Q1具体化 of nuclear power promotion policyAnnual report
「However, at the government's fifth Green Transformation Executive Council meeting held in December 2022, nuclear power was identified as playing an important role as a decarbonized baseload power source in achieving both a stable electricity supply and carbon neutrality. Subject to ensuring safety, the government again highlighted the need to promote nuclear power through restarts and extensions of operating periods, new construction and replacement using next-generation innovative reactors, and consideration of decommissioning. This was positive news for our Group in terms of improving the business environment.」
A government council outlined restarts, extensions of operating periods, new construction and replacement, and consideration of decommissioning, giving greater specificity to policy supporting expectations for a recovery in the nuclear power market. - FY2022-Q3SoftenedAnnual report
「During the first nine months of the current fiscal year, in our core valve business, we completed periodic inspection work at Kyushu Electric Power's Sendai Nuclear Power Station Unit 1 and recognized the associated revenue. However, there was no other significant revenue, and we worked mainly on construction projects for nuclear power plants scheduled for delivery from the fourth quarter onward, resulting in total revenue of ¥5,506 million, a sluggish 32.3% decline from the previous year.」
Revenue was recognized from periodic inspection work at Sendai Nuclear Power Station Unit 1, but there was little other significant revenue, and efforts focused on projects scheduled for delivery from the fourth quarter onward. Total revenue also fell 32.3% year on year, and expectations for a recovery in nuclear power-related earnings remained weak. - FY2022-Q2SoftenedAnnual report
「During the first six months of the current fiscal year, in our core valve business, we completed periodic inspection work at Kyushu Electric Power's Sendai Nuclear Power Station Unit 1 and recognized the associated revenue. However, there was no other significant revenue, and we worked mainly on construction projects for nuclear power plants scheduled for delivery from the third quarter onward, resulting in total revenue of ¥3,953 million, a sluggish 37.1% decline from the previous year.」
Although revenue was recognized from periodic inspection work at Sendai Nuclear Power Station Unit 1, there was no other significant revenue, and efforts focused on projects scheduled for delivery from the third quarter onward. Total revenue also fell 37.1% year on year, weakening expectations for a recovery in nuclear power-related earnings. - FY2022-Q1SoftenedAnnual report
「Against this backdrop, during the first quarter of the current fiscal year, the valve business, our core business, generated no significant revenue. We worked mainly on nuclear power plant construction projects scheduled for delivery from the second quarter onward, resulting in total revenue of ¥1,341 million, a sluggish 28.1% decline from the previous year.」
We continued working on construction projects for nuclear power plants, but generated no significant revenue and were waiting for revenue recognition on projects scheduled for delivery from the second quarter onward. Total revenue also fell 28.1% year on year, and the recovery in nuclear power-related earnings temporarily weakened. - FY2021AdvancedAnnual report
「Ten years have passed since the Fukushima nuclear accident caused by the tsunami from the Great East Japan Earthquake, and 10 reactors at 6 nuclear power stations have resumed operations to date. However, the situation remains unpredictable, partly because of delays in work on specified severe accident response facilities,」
The track record of restarts advanced from 9 reactors at 5 nuclear power stations to 10 reactors at 6 nuclear power stations. Nuclear power-related revenue, including periodic inspection work, also increased, making the recovery more tangible, while delays in work on specified severe accident response facilities left continued uncertainty. - FY2021-Q3AdvancedAnnual report
「There were also positive developments, including the restart of Kansai Electric Power's Mihama Nuclear Power Station Unit 3, which had been in operation for more than 40 years. Against this business environment, we are advancing various initiatives based on our medium-term management plan. During the first nine 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, and Kansai Electric Power's Takahama Nuclear Power Station Units 3 and 4, among others. Increased nuclear power-related revenue brought total revenue to ¥8,132 million, up 24.1% year on year.」
In addition to the restart of Mihama Nuclear Power Station Unit 3 after more than 40 years, periodic inspection work was completed and revenue recognized at multiple units at Sendai, Genkai and Takahama. Total revenue also rose 24.1% year on year on higher nuclear power-related revenue. - FY2021-Q2AdvancedAnnual report
「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.」
Periodic inspection work at Sendai Nuclear Power Station Units 1 and 2 and Genkai Nuclear Power Station Units 3 and 4 was completed and recognized as revenue. Total revenue also rose 24.3% year on year on higher nuclear power-related revenue, marking tangible progress from the previous quarter's weaker earnings recovery. - FY2021-Q1SoftenedAnnual report
「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.」
Although periodic inspection work at Sendai Nuclear Power Station Unit 1 was completed, few projects reached the revenue-recognition stage because of delivery schedules, and total revenue fell 17.9% year on year. The recovery in nuclear power-related earnings temporarily weakened. - FY2020AdvancedAnnual report
「Nine years have passed since the Fukushima Daiichi nuclear accident caused by the tsunami from the Great East Japan Earthquake. Although 9 reactors at 5 nuclear power stations had resumed operations to date and conditions had begun to support expectations for earnings from periodic inspections, the reactors subsequently stopped one after another because of delays in work on specified severe accident response facilities and the effects of litigation. Conditions are again approaching those immediately after the 2011 nuclear accident, and the situation remains unpredictable.」
With 9 reactors at 5 nuclear power stations having resumed operations, conditions had reached a stage where earnings from periodic inspections could be expected, and revenue was recognized from periodic inspection work on 5 reactors during the current fiscal year. Meanwhile, the shutdowns after the restarts leave uncertainty around the recovery environment. - FY2020-Q3AdvancedAnnual report
「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.」
Periodic inspection work was completed and revenue recognized at multiple units at Oi, Takahama, Genkai and Sendai, while equipment work revenue was also generated at Mihama and Ikata. Total revenue, led by nuclear power-related revenue, rose 37.2% year on year, making the earnings recovery more tangible. - FY2020-Q2AdvancedAnnual report
「Periodic inspection work was completed and revenue recognized 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 ¥5,055 million, up 54.9% year on year.」
Periodic inspection work was completed and revenue recognized at multiple units at Oi, Takahama, Genkai and Sendai, while equipment work revenue was also generated at Mihama and Ikata. Total revenue, led by nuclear power-related revenue, rose 54.9% year on year. - FY2020-Q1AdvancedAnnual report
「During the first quarter of the current fiscal year, we completed periodic inspection work and recognized revenue at Kansai Electric Power's Oi Nuclear Power Station Unit 4, Kyushu Electric Power's Genkai Nuclear Power Station Unit 4 and Sendai Nuclear Power Station Unit 1. Revenue from valve products related to specified severe accident response facilities also contributed, and total revenue, led by nuclear power-related revenue, was ¥2,270 million, up 51.0% year on year.」
Periodic inspection work at Oi Unit 4, Genkai Unit 4 and Sendai Unit 1 was completed and recognized as revenue, while revenue related to specified severe accident response facilities was also generated. Total revenue, led by nuclear power-related demand, rose 51.0% year on year. - FY2019AdvancedAnnual report
「During the current fiscal year, we completed periodic inspections and recognized revenue at Kansai Electric Power's Takahama Nuclear Power Station Unit 3, Kansai Electric Power's Oi Nuclear Power Station Unit 3 and Kyushu Electric Power's Genkai Nuclear Power Station Unit 3. Revenue from valve products for restart preparations and safety measures at nuclear power plants also increased substantially, resulting in higher nuclear power-related earnings than in the previous consolidated fiscal year.」
Periodic inspections were completed and revenue recognized at 3 reactors at Takahama, Oi and Genkai, while product revenue for restart preparations and safety measures also increased. The recovery in nuclear power-related earnings advanced through tangible project results. - FY2019-Q3AdvancedAnnual report
「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.」
Revenue was recognized from periodic inspection work at Takahama Nuclear Power Station Unit 3, while periodic inspection work at Oi Unit 3 and Genkai Unit 3 was under way. Although nuclear power-related projects made tangible progress in generating revenue and advancing, revenue from periodic inspection work at nuclear power plants was down 51.0% year on year, indicating that the recovery remains uneven. - FY2019-Q2AdvancedAnnual report
「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 at Takahama Nuclear Power Station Unit 3 was completed and recognized as revenue, and the proportion of nuclear power-related revenue also increased. Total revenue rose 9.9% year on year, marking tangible progress in the recovery of nuclear power-related earnings. - FY2019-Q1AdvancedAnnual report
「Against this backdrop, during the first quarter 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 ¥1,503 million, up 32.2% year on year.」
Periodic inspection work at Takahama Nuclear Power Station Unit 3 was completed and recognized as revenue, and the proportion of nuclear power-related revenue also increased. Total revenue rose 32.2% year on year. - FY2018AdvancedAnnual report
「Seven years have passed since the Fukushima nuclear accident caused by the tsunami from the Great East Japan Earthquake, and 9 reactors at 5 nuclear power stations have resumed operations to date. Although conditions now support expectations for earnings from periodic inspections at these nuclear power stations, this remains far below pre-accident levels, and the most important management priority remains obtaining a strong earnings driver.」
The restart of Oi and Genkai nuclear power stations brought the track record of restarts to 9 reactors at 5 nuclear power stations, creating specific expectations for earnings from periodic inspections. At the same time, it was stated that levels remained far below those before the accident. - FY2018-Q3RestatedAnnual report
「To date, Kyushu Electric Power's Sendai and Genkai nuclear power stations, Kansai Electric Power's Takahama and Oi nuclear power stations, and Shikoku Electric Power's Ikata Nuclear Power Station have resumed operations after considerable twists and turns. However, the situation remains unpredictable, as a judicial decision in December 2017 ordered the suspension of operations at Shikoku Electric Power's Ikata Nuclear Power Station. Nevertheless, we believe that the business environment will steadily recover as further restarts take place.」
We reconfirmed the track record of restarts at Sendai, Genkai, Takahama, Oi and Ikata nuclear power stations and expectations for a recovery in the business environment from further restarts. - FY2018-Q2AdvancedAnnual report
「To date, Kyushu Electric Power's Sendai and Genkai nuclear power stations, Kansai Electric Power's Takahama Nuclear Power Station and Shikoku Electric Power's Ikata Nuclear Power Station have resumed operations after considerable twists and turns.」
We stated that, in addition to Sendai, Takahama and Ikata, Genkai Nuclear Power Station had also resumed operations, demonstrating progress in restarts. Meanwhile, the suspension of operations at Ikata Nuclear Power Station means that uncertainty remains in the recovery outlook. - FY2018-Q1SoftenedAnnual report
「To date, Kyushu Electric Power's Sendai Nuclear Power Station, Kansai Electric Power's Takahama Nuclear Power Station and Shikoku Electric Power's Ikata Nuclear Power Station have resumed operations after considerable twists and turns. Although we assume that it will still be some time before further restarts and the resumption of periodic inspections at nuclear power plants once again contribute to our Group's earnings, we believe that the business environment is steadily moving toward recovery. However, the situation remains unpredictable, as a judicial decision in December 2017 ordered the suspension of operations at Shikoku Electric Power's Ikata Nuclear Power Station.」
While expectations for progress in restarts and a recovery in the business environment remain unchanged, the judicial decision suspending operations at Ikata Nuclear Power Station introduced new uncertainty into the recovery outlook. - FY2017RestatedAnnual report
「As Kansai Electric Power's Oi Nuclear Power Station Units 3 and 4 and Kyushu Electric Power's Genkai Nuclear Power Station Unit 3 are scheduled to resume operations in the first half of next year, we believe that the business environment will improve further.」
We reconfirmed that the restart of Takahama Nuclear Power Station Units 3 and 4 had brought the number of operating reactors to 5 at 3 nuclear power stations, and that further improvement was expected from the restarts of Oi and Genkai nuclear power stations. - FY2017-Q3AdvancedAnnual report
「However, following the Osaka High Court's rescission in March of the provisional disposition barring the operation of Kansai Electric Power's Takahama Nuclear Power Station, Unit 4 of the station resumed operations in May and Unit 3 in June. As a result, 5 reactors at 3 nuclear power stations were operating. Compared with the situation for some time, conditions have improved considerably, and we believe that the business environment will improve further, as we assume that Kansai Electric Power's Oi Nuclear Power Station Units 3 and 4 and Kyushu Electric Power's Genkai Nuclear Power Station Units 3 and 4 will each resume operations.」
Takahama Nuclear Power Station Units 4 and 3 each resumed operations, bringing the number of operating reactors to 5 at 3 nuclear power stations. Further improvement in the business environment is expected, with the assumed restarts of Oi and Genkai nuclear power stations. - FY2017-Q2AdvancedAnnual report
「However, the Osaka High Court's rescission in March of the provisional disposition barring the operation of Kansai Electric Power's Takahama Nuclear Power Station made it likely that the station would resume operations before this summer. This was good news for our Group, and we believe that the station's restart, following those of Kyushu Electric Power's Sendai Nuclear Power Station two years ago and Shikoku Electric Power's Ikata Nuclear Power Station last year, will significantly improve the business environment going forward.」
The provisional disposition barring operation of Takahama Nuclear Power Station was rescinded, indicating the likelihood of a restart before this summer and expectations for an improvement in the business environment. - FY2017-Q1AdvancedAnnual report
「With the restart of Kyushu Electric Power's Sendai Nuclear Power Station two years ago and Shikoku Electric Power's Ikata Nuclear Power Station last year, signs of recovery have gradually returned to the market. Although we assume that it will still be some time before further restarts and the resumption of periodic inspections at nuclear power plants once again contribute to our Group's earnings, we believe that the business environment is steadily moving toward recovery.」
While maintaining expectations for a recovery in the nuclear power market, we carried out periodic inspection work at Sendai and Takahama nuclear power stations during the quarter, and revenue from periodic inspection work at nuclear power plants was ¥158 million, up 14.2% year on year. - FY2016SoftenedAnnual report
「Although we assume that the nuclear power market will gradually recover going forward, it is difficult to expect the market to recover to its pre-accident scale. How to make up for the earnings that have been lost has become a key management issue,」
We continue to expect a gradual recovery in the nuclear power market, but stated clearly that a recovery to its pre-accident scale would be difficult, weakening expectations for an earnings recovery. - FY2016-Q3First statedAnnual report
「The nuclear power market is expected to recover gradually going forward. Although it will still be some time before the nuclear power plants that have resumed operations undergo periodic inspections and contribute to the earnings of our Group, we believe that the business environment is steadily moving toward recovery.」
Against the backdrop of approval to extend the operating periods of Takahama Nuclear Power Station Units 1 and 2 and the expected restart of Shikoku Electric Power's Ikata Nuclear Power Station Unit 3 in August, we expect the nuclear power market and earnings to recover.