Expansion of the Renewable Energy Business and Early Return to Profitability
First written in FY2016. 19 of 37 entries say "Advanced", first in FY2017-Q1. Latest entry: 2026-07-31.
Astmax moved to the "Worse" side of this theme in 2026, 9 years after the typical company in this theme (2017).
The whole theme swung hardest in 2025: 2 of 11 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Segment earnings were a loss due to higher insurance premiums, upfront sales expenses for new projects in the grid-scale battery storage business, continued upfront costs in the geothermal power generation business, and the deferral into the following fiscal year of the planned establishment of the grid-scale battery storage business structure by the end of the fiscal year ending March 2026.」
The renewable energy business turned from segment profit of ¥135 million in the previous fiscal year to a loss of ¥46 million. The stated factors were higher insurance premiums, front-loaded expenses in the battery and geothermal businesses, and delays in establishing the business operating structure. - FY2026-H1WorsenedAnnual report
「Although total electricity sales revenue from the power plants increased slightly from the same period of the previous year, segment profit decreased because operating expenses for new projects in the grid-scale battery business were incurred in advance and insurance premiums increased.」
The renewable energy business reported segment profit of ¥9 million, down from ¥17 million in the same period of the previous year. - FY2025AdvancedAnnual report
「Segment profit was ¥135 million, an increase of ¥8 million, or 6.9%, from the same period of the previous year.」
The renewable energy business secured full-year segment profit of ¥135 million, including gains on the transfer of battery projects and business interruption compensation. The target of reducing CO2 emissions by 2030 also remains in place. - FY2025-H1Profit declined following the reversal of arrangement revenueAnnual report
「However, because the previous fiscal year included ¥289 million in operating revenue and ¥60 million in non-operating expenses recorded as arrangement fees associated with the launch of the grid-scale battery business, both operating revenue and segment profit for the business as a whole decreased from the same period of the previous year.」
The renewable energy business secured segment profit of ¥17 million, but profit declined year on year due to the reversal of arrangement fees recorded for the grid-scale battery business in the previous fiscal year. - FY2024AdvancedAnnual report
「As a result, operating revenue for the renewable energy business in the current consolidated fiscal year was ¥883 million, an increase of ¥212 million, or 31.7%, from the same period of the previous year, and segment profit was ¥126 million, compared with a segment loss of ¥12 million in the same period of the previous year.」
The renewable energy business turned from a loss in the previous fiscal year to a profit of ¥126 million, due mainly to arrangement revenue from the grid-scale battery business. - FY2024-Q2AdvancedAnnual report
「As a result, operating revenue for the renewable energy business in the cumulative second quarter of the current consolidated fiscal year was ¥575 million, an increase of ¥204 million, or 55.2%, from the same period of the previous year, and segment profit was ¥180 million, an increase of ¥148 million, or 459.2%.」
Segment profit in the renewable energy business increased from ¥32 million in the same period of the previous year to ¥180 million, due mainly to revenue from the grid-scale battery business. - FY2024-Q1WorsenedAnnual report
「As a result, operating revenue for the renewable energy business in the cumulative first quarter of the current consolidated fiscal year was ¥145 million, a decrease of ¥45 million, or 23.8%, from the same period of the previous year, and the business reported a segment loss of ¥34 million, compared with segment profit of ¥20 million in the same period of the previous year.」
The renewable energy business turned from segment profit of ¥20 million in the same period of the previous year to a segment loss of ¥34 million. The disclosures cite negative adjustment costs arising from economic output control, cable theft and increased cost burdens in the grid-scale battery business. - FY2023-Q3AdvancedAnnual report
「As a result, operating revenue for the renewable energy business in the cumulative first nine months of the current consolidated fiscal year was ¥520 million, an increase of ¥40 million, or 8.3%, from the same period of the previous year, and segment profit was ¥14 million, compared with a segment loss of ¥9 million in the same period of the previous year.」
The renewable energy business turned from a loss of ¥9 million in the same period of the previous year to a profit of ¥14 million, due mainly to reduced output curtailment and improved generation efficiency resulting from panel cleaning. - FY2023-Q2AdvancedAnnual report
「Through this business, we aim to contribute to the further introduction and expansion of renewable energy, targeting annual CO2 reductions of up to 66,000 tonnes by 2030, equivalent to 100 MW of solar power generation capacity.」
While maintaining its target of reducing CO2 emissions by 2030, the company is actively promoting PPA-based self-consumption models for companies and local governments. Segment profit in the renewable energy business increased from ¥5 million in the same period of the previous year to ¥32 million. - FY2023-Q1AdvancedAnnual report
「As a result, operating revenue for the renewable energy business in the cumulative first quarter of the current consolidated fiscal year was ¥190 million, an increase of ¥23 million, or 14.0%, from the same period of the previous year, and segment profit was ¥20 million, an increase of ¥15 million, or 381.6%.」
The renewable energy business increased segment profit from ¥4 million in the same period of the previous year to ¥20 million. The disclosures cite reduced output curtailment and improved generation efficiency resulting from panel cleaning as factors. - FY2022WorsenedAnnual report
「As a result, operating revenue for the renewable energy business in the current fiscal year was ¥635 million, a decrease of ¥741 million, or 53.9%, from the same period of the previous year, and the business reported a segment loss of ¥11 million, compared with a segment loss of ¥1 million in the same period of the previous year.」
Revenue from the renewable energy business decreased significantly, and the segment loss widened from ¥1 million in the previous fiscal year to ¥11 million. - FY2022-Q3WorsenedAnnual report
「In the renewable energy business, revenue from electricity sales declined following the transfer of power plants held at the end of the previous fiscal year. In addition, output curtailment was ordered a total of 22 times at the large-scale power plant in Kumamoto Prefecture, an increase of 8 instances from the same period of the previous year, resulting in a year-on-year decrease in operating revenue.」
Revenue from the renewable energy business decreased 12.4% year on year, and segment results turned from a profit of ¥11 million in the same period of the previous year to a loss of ¥9 million. - FY2022-Q2WorsenedAnnual report
「In the renewable energy business, revenue from electricity sales declined following the transfer of power plants held at the end of the previous fiscal year. In addition, output curtailment was ordered a total of 17 times at the large-scale power plant in Kumamoto Prefecture, an increase of 3 instances from the same period of the previous year, resulting in a year-on-year decrease in operating revenue.」
Revenue from the renewable energy business decreased 11.0% year on year, while segment profit fell from ¥20 million to ¥5 million. The disclosures cite power plant sales, output curtailment and development costs, including geothermal development. - FY2022-Q1WorsenedAnnual report
「In the renewable energy-related business, electricity sales revenue declined year on year because, in addition to lower electricity sales revenue resulting from the transfer of power plants held at the end of the previous consolidated fiscal year, the group's large-scale power plant in Kumamoto Prefecture was subject to output curtailment a total of 16 times, an increase of 3 times from the same period of the previous year.」
Revenue from the renewable energy business decreased 12.9% year on year, while segment profit fell from ¥13 million to ¥4 million. Output curtailment at the Kumamoto power plant increased by 3 instances year on year. - FY2021-Q3WorsenedAnnual report
「In the renewable energy-related business, power generation at the power plants in Kyushu was strong, but output curtailment orders exceeded the level in the same period of the previous year. In addition, development costs for power plants, including geothermal projects, such as fees and interest expenses on bank borrowings used to fund construction costs, increased as the plans progressed, and the company had sold a total of 3 power plants held for sale in the previous fiscal year. As a result, the business recorded only modest segment profit.」
Segment profit in the renewable energy-related business declined from ¥63 million in the same period of the previous year to ¥11 million. The disclosure cites output curtailment, increased development costs, and the sale of 3 power plants in the previous year as factors. - FY2021-Q2WorsenedAnnual report
「In the renewable energy-related business, output curtailment orders issued to power plants in Kyushu exceeded the level in the same period of the previous year, and development costs for power plants, including geothermal projects, such as fees and interest expenses on bank borrowings used to fund construction costs, increased as the plans progressed. In addition, the company had sold a total of 3 power plants held for sale in the previous fiscal year, so the business recorded only modest segment profit.」
Segment profit in the renewable energy-related business declined from ¥104 million in the same period of the previous year to ¥20 million. The disclosure cites increased output curtailment, higher development costs including geothermal development, and the sale of 3 power plants in the previous year as factors. - FY2021-Q1WorsenedAnnual report
「In the renewable energy-related business, the company recorded only modest segment profit because output curtailment orders issued to power plants in Kyushu exceeded the level in the same period of the previous year, and development costs for power plants, including geothermal projects, such as fees and interest expenses on bank borrowings used to fund construction costs, increased as the plans progressed.」
The renewable energy-related business remained profitable, but segment profit declined from ¥37 million in the same period of the previous year to ¥13 million. Increased output curtailment and development costs were cited as the reasons. - FY2020-Q3AdvancedAnnual report
「The project in Kirishima, Kagoshima Prefecture, which had been under construction, was completed in November 2019. As a result, the number of completed projects in which the business was involved reached 16, with total capacity of 31.1 MW, while 2 projects totaling 2.5 MW remained under construction or were scheduled to begin construction.」
The Kirishima project was completed, bringing the number of completed projects to 16, with total capacity of 31.1 MW. Cumulative third-quarter segment profit in the renewable energy-related business also increased to ¥63 million from ¥24 million in the same period of the previous year. - FY2020-Q2AdvancedAnnual report
「In line with the national Basic Energy Plan, the company aims to reduce CO2 emissions by up to 66,000 tonnes annually by 2030, equivalent to 100 MW of solar power generation capacity, and has a policy of contributing to the introduction and expansion of renewable energy. As set out below, it continues to develop, acquire and operate renewable energy power plants, generate and supply electricity, and provide maintenance and operation management services through its renewable energy generation business and O&M business.」
The company continues to operate a business combining its CO2 reduction target through 2030 with the development, acquisition, generation, supply and O&M of power plants. Segment profit in the renewable energy-related business for the cumulative second quarter was ¥104 million, up from ¥51 million in the same period of the previous year. - FY2020-Q1AdvancedAnnual report
「Although output curtailment orders were issued in Kyushu in April and May, the expansion of the group's existing solar power generation facilities during the previous consolidated fiscal year had a positive effect, enabling it to increase segment profit.」
Segment profit in the renewable energy-related business increased from ¥17 million in the same period of the previous year to ¥37 million. The company stated that expansion of its existing solar power generation facilities contributed to the increase in profit. - FY2019AdvancedAnnual report
「As of the end of March 2019, the group had developed approximately 24 MW of solar power generation facilities itself and purchased approximately 4 MW, while developing an additional approximately 2.2 MW of projects. Although revenue is affected by weather conditions, electricity sales revenue from the solar power plants already owned by the group had reached a level that made profitability in this business achievable.」
The company disclosed the scale of its self-developed, purchased and in-development solar power generation facilities, and stated that electricity sales revenue from its owned power plants had reached a level that made the business profitable. Full-year segment profit was also ¥7 million. - FY2019-Q3AdvancedAnnual report
「Projects under development continued to bear power plant development costs, including fees and interest expenses on bank borrowings used to fund construction costs, as in the previous consolidated fiscal year. Operating revenue declined year on year because the Nahanari Solar Power Plant was transferred in March 2018 and the group's largest power plant, in Kumamoto Prefecture, with capacity of approximately 7.8 MW, received insufficient solar irradiation due to the heavy rains in western Japan and typhoons. However, the business secured segment profit because refinancing carried out in March 2018 reduced borrowing costs and a review of maintenance at power plants managed under contract reduced costs, among other factors. As a result, operating revenue for the cumulative third quarter of the consolidated fiscal year under review was ¥448 million, down ¥65 million, or 12.7%, from the same period of the previous year, and segment profit was ¥24 million, compared with a segment loss of ¥14 million in the same period of the previous year.」
Although operating revenue declined, lower borrowing costs from refinancing and cost reductions from a review of maintenance operations turned segment earnings from a loss of ¥14 million to a profit of ¥24 million. - FY2019-Q2AdvancedAnnual report
「Operating revenue declined year on year because the Nahanari Solar Power Plant was transferred in March 2018 and the group's largest power plant, in Kumamoto Prefecture, with capacity of approximately 7.8 MW, received insufficient solar irradiation due to the heavy rains in western Japan and frequent typhoons. However, the business secured segment profit because refinancing carried out in March 2018 reduced borrowing costs and a review of maintenance at power plants managed under contract reduced costs. As a result, operating revenue for the cumulative second quarter of the consolidated fiscal year under review was ¥325 million, down ¥51 million, or 13.7%, from the same period of the previous year, while segment profit was ¥51 million, up ¥28 million, or 125.7%, from the same period of the previous year.」
Although operating revenue declined, segment profit increased from ¥23 million in the same period of the previous year to ¥51 million, helped by lower borrowing costs from refinancing and cost reductions from a review of maintenance operations. - FY2019-Q1AdvancedAnnual report
「Operating revenue declined year on year because the Nahanari Solar Power Plant was transferred in March 2018 and the group's largest power plant, in Kumamoto Prefecture, with capacity of approximately 7.8 MW, received insufficient solar irradiation. However, the segment remained profitable partly because refinancing carried out in March 2018 reduced borrowing costs.」
Although operating revenue in the renewable energy-related business declined year on year, the business secured segment profit of ¥17 million, partly because refinancing reduced borrowing costs. - FY2018-Q3Turned from segment profit to a lossAnnual report
「Although the group's solar power plants generally benefited from favorable solar irradiation during the first quarter of the consolidated fiscal year, record typhoons and prolonged rainfall continued nationwide from summer through autumn. As a result, operating revenue for the cumulative third quarter of the consolidated fiscal year under review was ¥513 million, up ¥117 million, or 29.8%, from the same period of the previous year, and the segment loss was ¥14 million, compared with a segment loss of ¥71 million in the same period of the previous year.」
Segment profit was ¥22 million in the previous cumulative quarter, but the current cumulative quarter resulted in a loss of ¥14 million, indicating a setback in performance toward early profitability. - FY2018-Q2AdvancedAnnual report
「Because the solar power plants owned by the group generally benefited from favorable solar irradiation during the first quarter of the consolidated fiscal year, operating revenue for the cumulative second quarter of the consolidated fiscal year under review was ¥376 million, up ¥120 million, or 46.9%, from the same period of the previous year, and segment profit was ¥22 million, compared with a segment loss of ¥42 million in the same period of the previous year.」
The renewable energy-related business recorded segment profit of ¥22 million for the cumulative quarter under review, turning from a loss of ¥42 million in the same period of the previous year to a profit. This does not state that the overall goal of achieving early profitability had been met. - FY2017AdvancedAnnual report
「As of the end of March 2017, the group already owned approximately 12.4 MW of solar power generation facilities. Including solar power projects already under construction and scheduled for completion, the group expects to achieve profitability in this business through electricity sales revenue from solar power plants it owns itself.」
As of the end of March 2017, the group owned approximately 12.4 MW of solar power generation facilities and indicated that it expected to achieve profitability through electricity sales revenue, including from projects already under construction. The segment loss for the consolidated fiscal year under review was ¥76 million, so profitability had not yet been achieved. - FY2017-Q3AdvancedAnnual report
「As described above, electricity sales from the solar power facility in Kikuchi, Kumamoto Prefecture, began in the second quarter of the consolidated fiscal year. However, in addition to development costs for the power plant, including fees and interest expenses on bank borrowings used to fund construction costs, being incurred ahead of revenue as in the previous consolidated fiscal year, power generation tends to decline relatively from autumn through winter. As a result, operating revenue for the cumulative third quarter of the consolidated fiscal year under review was ¥395 million, up ¥16 million, or 4.4%, from the same period of the previous year, and the segment loss was ¥71 million, compared with a segment loss of ¥181 million in the same period of the previous year.」
Electricity sales from the Kikuchi project continued, narrowing the segment loss in the renewable energy-related business from ¥181 million in the same period of the previous year to ¥71 million. However, the business continued to incur a loss, and the disclosure also indicates that a change in the depreciation method contributed to the reduction in the loss. - FY2017-Q2AdvancedAnnual report
「As described above, electricity sales from the solar power facility in Kikuchi, Kumamoto Prefecture, began in the second quarter. However, as in the previous consolidated fiscal year, development costs for the power plant, including fees and interest expenses on bank borrowings used to fund construction costs, were incurred ahead of revenue. As a result, operating revenue for the cumulative second quarter of the consolidated fiscal year under review was ¥256 million, up ¥80 million, or 45.3%, from the same period of the previous year, and the segment loss was ¥42 million, compared with a segment loss of ¥161 million in the same period of the previous year.」
Electricity sales from the Kikuchi project began in the second quarter, narrowing the segment loss in the renewable energy-related business from ¥161 million to ¥42 million. However, the business continued to incur a loss. - FY2017-Q1AdvancedAnnual report
「Kikuchi, Kumamoto Prefecture Approximate capacity: 7.8 MW」
The handover and start of operations for the approximately 7.8 MW project in Kikuchi, Kumamoto Prefecture, were completed on 11 July 2016, giving concrete form to the expansion of the business. The segment loss in the renewable energy-related business also narrowed from ¥71 million in the same period of the previous year to ¥33 million, although the business remained loss-making. - FY2016First statedAnnual report
「From the fiscal year ending March 2017 onward, the company expects to substantially expand its renewable energy generation business, through which the group itself can earn electricity sales revenue directly or indirectly. In the renewable energy-related business, it aims to achieve profitability at an early stage using electricity sales revenue alone, together with reductions in operating expenses.」
The company has positioned the renewable energy-related business as one of its core businesses and has indicated a policy of expanding beyond solar power into geothermal power and support for new power retailers.