Expansion of Solar Power Generation and Environmental Energy Business

「[Environmental Infrastructure Business] Revenue increased by ¥7.6 billion, or 23.7%, year on year to ¥39.9 billion, while segment profit increased by ¥1.4 billion, or 160.3%, to ¥2.3 billion. The main factors behind the increase in profit were higher gains on the sale of solar power generation businesses and improved performance in the biomass co-firing power generation business.」

「The main factors behind the decline in profit were the reversal of one-time gains recorded in the same period of the previous fiscal year in the power generation business and increased funding costs for new overseas investment projects.」

「[Environmental Infrastructure Business] Revenue increased by ¥7.5 billion, or 20.3%, year on year to ¥44.3 billion, while segment profit increased by ¥2.9 billion, or 490.7%, to ¥3.5 billion. The main factors behind the increase in profit were the absence of bad debt expenses and trial-operation expenses recorded in the same period of the previous fiscal year.」

「Revenue increased by ¥17.9 billion, or 107.5%, year on year to ¥34.5 billion, while segment profit increased by ¥2.3 billion, or 187.5%, to ¥3.5 billion. The main factors behind the increase in profit were the absence of trial-operation expenses recorded in the same period of the previous fiscal year and increased revenue recognized from the power generation business.」

「Revenue increased by ¥9.8 billion, or 148.9%, year on year to ¥16.4 billion, while segment profit increased by ¥1.8 billion, or 346.4%, to ¥2.3 billion. The main factors behind the increase in profit were the absence of trial-operation expenses recorded in the previous fiscal year and increased revenue recognized from the power generation business.」

「In our offices, as part of the Group's efforts toward carbon neutrality, we changed 100% of the electricity used at the three buildings in Akihabara occupied by our company and Group companies to electricity generated from renewable energy sources beginning in January 2023.」

「[Specialty Business] Revenue decreased by ¥0.6 billion, or 1.0%, year on year, to ¥59.0 billion, while segment profit increased by ¥0.3 billion, or 1.9%, to ¥15.5 billion. The main factors behind the increase in segment profit were higher capital gains in the real estate business, higher equity-method investment income in the marine business, and higher profit from the solar power generation business in the environmental and energy business, despite lower profit in the aircraft business, including impairment losses, amid the continuing impact of COVID-19.」

「During the current fiscal year, the Company acquired ¥26.192 billion of assets related to the solar power generation business and plans to invest ¥8.784 billion during the one-year period following the current fiscal year.」

「The capital investment plan for other operating assets for the one-year period following the end of the current fiscal year is as follows: Assets related to the solar power generation business: ¥26.660 billion」

「③ Specialty Business Revenue increased by ¥28.180 billion, or 51.4%, year on year, to ¥83.047 billion, while segment profit increased by ¥1.922 billion, or 9.7%, to ¥21.685 billion. The main factors behind the increase in profit were higher profit across the aircraft business as a result mainly of increased equity-method investment income, despite the reversal of aircraft-related fee income recorded in the previous year, the full-year inclusion of Shinko Real Estate's performance, and higher electricity sales revenue from the solar power generation business. Segment assets decreased by ¥33.448 billion, or 2.9%, from the end of the previous fiscal year to ¥1,108.950 billion.」

「Together with CIEL ET TERRE TAIWAN LIMITED, which develops floating solar power projects, Kyudenko Corporation and Kyuden Mirai Energy Co., Ltd., the Company invested in a special-purpose company conducting a floating solar power business in Taiwan. This was the first overseas direct investment project undertaken by the Company's energy business.」

「In the Other Businesses, contract execution volume decreased by ¥6.995 billion, or 26.8%, year on year, to ¥19.112 billion. Revenue increased by ¥18.725 billion, or 100.8%, to ¥37.300 billion, while segment profit increased by ¥4.449 billion, or 77.3%, to ¥10.202 billion. The main factors behind the increase in profit were higher aircraft-related fee income and higher electricity sales revenue from solar power generation.」

「In the Other Businesses, the acquisition of power generation-related assets increased contract execution volume by ¥4.269 billion, or 39.0%, year on year, to ¥15.228 billion. Revenue increased by ¥10.663 billion, or 84.8%, to ¥23.233 billion, while segment profit increased by ¥3.120 billion, or 72.7%, to ¥7.412 billion. The main factors behind the increase in profit were higher aircraft-related fee income and higher electricity sales revenue from solar power generation.」

「In the Other Businesses, the acquisition of power generation-related assets increased contract execution volume by ¥13.483 billion, or 887.1%, year on year, to ¥15.004 billion. Revenue increased by ¥2.912 billion, or 47.4%, to ¥9.058 billion, while segment profit increased by ¥1.634 billion, or 79.8%, to ¥3.683 billion.」

「During the current fiscal year, the Company acquired ¥43.644 billion of assets related to the solar power generation business and plans to invest ¥22.288 billion during the one-year period following the current fiscal year.」

「The main factor was higher electricity sales revenue from solar power generation.」

「The Company was selected for the project it submitted, the “Installation of a 1.53 MW rooftop solar power generation system at an automobile parts plant,” under the equipment subsidy program within the FY2017 Financing Support Program for the Joint Crediting Mechanism (JCM), solicited by the Ministry of the Environment and its implementing body, the Global Environment Centre Foundation (GEC).」

「The capital investment plan for other operating assets for the one-year period following the end of the current fiscal year is as follows: Assets related to the solar power generation business: ¥38.000 billion」

「The main factor behind the increase in profit was higher electricity sales revenue from solar power generation.」

「Together with IHI Corporation and 7 other investing companies, the Company established Nanatsujima Biomass Power LLC, an operating company engaged in a woody biomass power generation business in Kagoshima, Kagoshima Prefecture, the largest such project in the prefecture, and made it an equity-method affiliate.」

「Together with IHI Corporation and 7 other investing companies, the Company established Nanatsujima Biomass Power LLC, an operating company engaged in a woody biomass power generation business in Kagoshima, Kagoshima Prefecture, the largest such project in the prefecture.」

「The Company advanced the construction and commencement of operations of utility-scale solar power plants, including the Chiba Yamakura floating solar power plant, the world's largest floating solar facility as of 15 January 2016, with an output capacity of approximately 13.7 MW.」