Worth reading
57In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
-817
¥ million (year-on-year change in interim net income attributable to owners of the parent)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFY2027 interim period (cumulative second quarter)7 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥16,151 million+49.8%
Operating profit¥-863 million
Ordinary income¥-946 million
Net income¥-969 million interim net income attributable to owners of the parent
Results for the three months of the current quarter
Renewable Energy-Related Business
Operating revenue1,041
Operating revenue unit¥ million
Segment Profit or Loss659
Segment profit/loss unit¥ million
Power trading-related business
Operating revenue7,050
Operating revenue unit¥ million
Segment Profit or Loss-639
Segment profit/loss unit¥ million
Retail business
Operating revenue2,051
Operating revenue unit¥ million
Segment Profit or Loss-29
Segment profit/loss unit¥ million
Dealing business
Operating revenue11
Operating revenue unit¥ million
Segment Profit or Loss-43
Segment profit/loss unit¥ million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Increase in operating revenue from the electricity trading-related business¥3,639 million
- Increase in operating revenue from the renewable energy-related business¥868 million
- Increase in operating revenue from the retail business¥830 million
- Increase in operating revenue from the dealing business¥35 million
- Higher power procurement costs¥5,787 million
- Increase in outsourcing expenses¥109 million
- Downward pressure on period earnings from electricity futures transactions for hedging purposes¥-1,268 million
New initiatives
- Transition of FIT solar power plants to FIP and installation of co-located battery storage systems
- After transferring the business rights and other assets and real estate related to the grid-scale battery storage business, the company plans to provide aggregator services once operations commence
- Takenaka Corporation's underwriting of a ¥388 million capital increase by アストマックスえびの地熱株式会社
- Strengthening the electricity retail business by increasing sales staff and reinforcing sales agencies
- The dealing business will be discontinued by the end of FY2027, and its know-how will be changed from the dealing business to the electricity trading-related business
Key KPIsA metric the company considers important as a management benchmark.
- Equity ratio42.5 %
- Equity ratio44.8 %
- Net debt-to-equity ratio-0.1 times
- Net Debt/EBITDA1.2 times
- Net number of switches to a new electricity provider2,074 ten thousand items
- Extra-high-voltage and high-voltage customers (billing units)454 Engagements
- Exchange open interest13.7 10,000 passesYear on year against the same period last year-8.5%
- Average daily trading volume3.6 10,000 passesYear on year against the same period last year-3.1%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Electricity sales volumeExceeded the year-earlier level
- Extra-high-voltage and high-voltage customers (billing units)454 Engagements
- Net number of switches to a new electricity provider2,074 ten thousand items
Segment results
- Renewable Energy-Related BusinessOperating revenue1,298Operating revenue unit¥ millionOperating revenue year-on-year_pct214.8Segment Profit or Loss640Segment profit/loss unit¥ millionYear-on-year change in segment profit/loss631
- Power trading-related businessOperating revenue12,541Operating revenue unit¥ millionOperating revenue year-on-year_pct63.2Segment Profit or Loss-114Segment profit/loss unit¥ millionYear-on-year change in segment profit/loss-87
- Retail businessOperating revenue3,694Operating revenue unit¥ millionOperating revenue year-on-year_pct29Segment Profit or Loss-41Segment profit/loss unit¥ millionYear-on-year change in segment profit/loss-61
- Dealing businessOperating revenue58Operating revenue unit¥ millionOperating revenue year-on-year_pct149.8Segment Profit or Loss-58Segment profit/loss unit¥ millionYear-on-year change in segment profit/loss69
Financial targets
Equity ratio
42.5 %
Equity ratio
44.8 %
Net debt-to-equity ratio
-0.1 times
Net Debt/EBITDA
1.2 times
Acquisition of treasury shares
The only disclosure is that the share repurchase was conducted in August 2026; the acquisition limit amount, number of shares and period are Not disclosed| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | FY2027 interim period (cumulative second quarter) |
| Net Sales | ¥16,151 million (YoY +49.8%) |
| Operating profit | ¥-863 million |
| Ordinary income | ¥-946 million |
| Net income | ¥-969 million (interim net income attributable to owners of the parent) |
| Results for the three months of the current quarter | Renewable Energy-Related Business Operating revenue 1,041 / Operating revenue unit ¥ million / Segment Profit or Loss 659 / Segment profit/loss unit ¥ million / Power trading-related business Operating revenue 7,050 / Operating revenue unit ¥ million / Segment Profit or Loss -639 / Segment profit/loss unit ¥ million / Retail business Operating revenue 2,051 / Operating revenue unit ¥ million / Segment Profit or Loss -29 / Segment profit/loss unit ¥ million / Dealing business Operating revenue 11 / Operating revenue unit ¥ million / Segment Profit or Loss -43 / Segment profit/loss unit ¥ million |
| Segment results | Segment Renewable Energy-Related Business / Operating revenue 1,298 / Operating revenue unit ¥ million / Operating revenue year-on-year_pct 214.8 / Segment Profit or Loss 640 / Segment profit/loss unit ¥ million / Year-on-year change in segment profit/loss 631, Segment Power trading-related business / Operating revenue 12,541 / Operating revenue unit ¥ million / Operating revenue year-on-year_pct 63.2 / Segment Profit or Loss -114 / Segment profit/loss unit ¥ million / Year-on-year change in segment profit/loss -87, Segment Retail business / Operating revenue 3,694 / Operating revenue unit ¥ million / Operating revenue year-on-year_pct 29 / Segment Profit or Loss -41 / Segment profit/loss unit ¥ million / Year-on-year change in segment profit/loss -61, Segment Dealing business / Operating revenue 58 / Operating revenue unit ¥ million / Operating revenue year-on-year_pct 149.8 / Segment Profit or Loss -58 / Segment profit/loss unit ¥ million / Year-on-year change in segment profit/loss 69 |
| Breakdown of Factors Affecting the Change | Factors Increase in operating revenue from the electricity trading-related business / Amount ¥3,639 million, Factors Increase in operating revenue from the renewable energy-related business / Amount ¥868 million, Factors Increase in operating revenue from the retail business / Amount ¥830 million, Factors Increase in operating revenue from the dealing business / Amount ¥35 million, Factors Higher power procurement costs / Amount ¥5,787 million, Factors Increase in outsourcing expenses / Amount ¥109 million, Factors Downward pressure on period earnings from electricity futures transactions for hedging purposes / Amount ¥-1,268 million |
| Key KPIs | Indicator name Equity ratio / Value 42.5 % / Year on year against the same period last year Not disclosed, Indicator name Equity ratio / Value 44.8 % / Year on year against the same period last year Not disclosed, Indicator name Net debt-to-equity ratio / Value -0.1 times / Year on year against the same period last year Not disclosed, Indicator name Net Debt/EBITDA / Value 1.2 times / Year on year against the same period last year Not disclosed, Indicator name Net number of switches to a new electricity provider / Value 2,074 ten thousand items / Year on year against the same period last year Not disclosed, Indicator name Extra-high-voltage and high-voltage customers (billing units) / Value 454 Engagements / Year on year against the same period last year Not disclosed, Indicator name Exchange open interest / Value 13.7 10,000 passes / Year on year against the same period last year -8.5 10,000 passes, Indicator name Average daily trading volume / Value 3.6 10,000 passes / Year on year against the same period last year -3.1 10,000 passes |
| Unit price and quantity metrics | Indicator name Electricity sales volume / Value Exceeded the year-earlier level, Indicator name Extra-high-voltage and high-voltage customers (billing units) / Value 454 Engagements, Indicator name Net number of switches to a new electricity provider / Value 2,074 ten thousand items |
| Financial targets | Equity ratio Value 42.5 % / Equity ratio Value 44.8 % / Net debt-to-equity ratio Value -0.1 times / Net Debt/EBITDA Value 1.2 times |
| Acquisition of treasury shares | The only disclosure is that the share repurchase was conducted in August 2026; the acquisition limit amount, number of shares and period are Not disclosed |
| New initiatives | Transition of FIT solar power plants to FIP and installation of co-located battery storage systems, After transferring the business rights and other assets and real estate related to the grid-scale battery storage business, the company plans to provide aggregator services once operations commence, Takenaka Corporation's underwriting of a ¥388 million capital increase by アストマックスえびの地熱株式会社, Strengthening the electricity retail business by increasing sales staff and reinforcing sales agencies, The dealing business will be discontinued by the end of FY2027, and its know-how will be changed from the dealing business to the electricity trading-related business |
Items this document does not state (17)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendPayout ratioCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Operating revenue increased against a backdrop of higher electricity prices following sharp rises in crude oil, natural gas and other prices amid escalating tensions in Iran. The electricity trading-related business, however, reported a loss, partly because only the hedging gain had been recognized in the previous fiscal year. The renewable energy-related business recorded ¥664 million in operating profit from the transfer of rights and other assets related to grid-scale battery storage facilities.
How to read this page
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