Komori
Presentation materials for financial results9506Tohoku Electric Power Company,IncorporatedElectricity and gas

FY2026 Interim Results Presentation Materials

In the interim period of FY2026, net sales rose sharply due in part to self-matched transactions associated with indirect auctions, while ordinary profit and net profit declined due to the time lag under the fuel cost adjustment system, supply-demand adjustment costs for transmission and distribution, and differences in the operating status of Onagawa Unit 2. The company released its full-year earnings forecast and raised its year-end dividend forecast to ¥22 per share and its annual dividend forecast to ¥42 per share.

Worth reading
55In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Deterioration
Direction inferred from the company’s description.
Scale
798
¥100 million (year-on-year decrease in ordinary income)
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsFY2026 interim period10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥17,275 100 million+47.8%
Operating profit¥603 100 million-57.2%
Ordinary income¥458 100 million-63.5%
Net income¥297 100 million-66.0%
Full-year earnings forecast
Net Sales
¥34,700 100 million
Operating profit
¥2,100 100 million
Ordinary income
¥1,700 100 million
Profit attributable to owners of the parent
¥1,200 100 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Changes in market and sales conditions¥120 100 million
  • Transmission and Distribution Business¥-166 100 million
  • Difference in the operating status of Onagawa Unit 2¥-90 100 million
  • Other¥-139 100 million
  • Fuel cost adjustment mechanism lag¥-630 100 million
  • Fair value measurement impact¥107 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Retail electricity sales volume640 Approximately 100 million kWh
  • Wholesale electricity sales volume278 Approximately 100 million kWh
  • CIF crude oil price109 Approximately $/bbl
  • Exchange rate157 Approximately JPY/USD
  • Nuclear capacity factor24.5 Approximately %
New initiatives
  • Increase the year-end dividend forecast from ¥20 to ¥22 per share
  • Strengthening efforts to attract data centers
  • Collaboration with local governments and other parties in GX strategy regions
  • Development of GPU cloud and colocation services
  • Joint study of next-generation AI data centers
  • Reinforcement of the transmission system
Key KPIsA metric the company considers important as a management benchmark.
  • Retail electricity sales volume301 100 million kWh
  • Wholesale electricity sales volume124 100 million kWh
  • Total electricity sales volume424 100 million kWh
  • Area demand346 100 million kWh
    Year on year against the same period last year-3.9%
  • Nuclear capacity factor22 %
    Year on year against the same period last year-6.3%
Segment results
Generation and Retail
Net Sales¥14,805 100 million
Profit¥625 100 million
Year-on-year change in revenue¥50.7 100 million
Year-on-year change in profit¥-54.3 100 million
Transmission and Distribution
Net Sales¥4,905 100 million
Profit¥-225 100 million
Year-on-year change in revenue¥13.1 100 million
Other
Net Sales¥837 100 million
Profit¥67 100 million
Year-on-year change in revenue¥13 100 million
Year-on-year change in profit¥9.8 100 million
Financial targets
  • Consolidated ordinary profit, excluding the time-lag impact of the fuel cost adjustment system
    FY2026 target1,900
  • Consolidated capital adequacy ratio
    FY2026 targetApproximately 20%
    Actual results19.4%
  • Consolidated ROIC
    FY2026 targetApproximately 3.5
    Actual results3.2
Market Size / Share
Demand growth in the Eastern Japan 50 Hz region over the next 10 years+9% approximately, approximately 326 billion kWh
Orders received and order backlog
Corporate PPA order intake¥1,600 100 million
Annual Dividend
Annual¥42 /share
Interim¥20 /share
End of period¥22 /share
Payout ratio
Not disclosed (with a DOE of 2% as a guideline)
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFY2026 interim period
Net Sales¥17,275 100 million (YoY +47.8%)
Operating profit¥603 100 million (YoY -57.2%)
Ordinary income¥458 100 million (YoY -63.5%)
Net income¥297 100 million (YoY -66.0%)
Full-year earnings forecastNet Sales ¥34,700 100 million / Operating profit ¥2,100 100 million / Ordinary income ¥1,700 100 million / Profit attributable to owners of the parent ¥1,200 100 million
Segment resultsGeneration and Retail Net Sales ¥14,805 100 million / Profit ¥625 100 million / Year-on-year change in revenue ¥50.7 100 million / Year-on-year change in profit ¥-54.3 100 million / Transmission and Distribution Net Sales ¥4,905 100 million / Profit ¥-225 100 million / Year-on-year change in revenue ¥13.1 100 million / Year-on-year change in profit Not disclosed / Other Net Sales ¥837 100 million / Profit ¥67 100 million / Year-on-year change in revenue ¥13 100 million / Year-on-year change in profit ¥9.8 100 million
Breakdown of Factors Affecting the ChangeFactors Changes in market and sales conditions / Amount ¥120 100 million, Factors Transmission and Distribution Business / Amount ¥-166 100 million, Factors Difference in the operating status of Onagawa Unit 2 / Amount ¥-90 100 million, Factors Other / Amount ¥-139 100 million, Factors Fuel cost adjustment mechanism lag / Amount ¥-630 100 million, Factors Fair value measurement impact / Amount ¥107 100 million
Key KPIsIndicator name Retail electricity sales volume / Value 301 100 million kWh / Year on year against the same period last year Not disclosed, Indicator name Wholesale electricity sales volume / Value 124 100 million kWh / Year on year against the same period last year Not disclosed, Indicator name Total electricity sales volume / Value 424 100 million kWh / Year on year against the same period last year Not disclosed, Indicator name Area demand / Value 346 100 million kWh / Year on year against the same period last year -3.9 100 million kWh, Indicator name Nuclear capacity factor / Value 22 % / Year on year against the same period last year -6.3 %
Assumptions Underlying the Business OutlookIndicator Retail electricity sales volume / Value 640 Approximately 100 million kWh, Indicator Wholesale electricity sales volume / Value 278 Approximately 100 million kWh, Indicator CIF crude oil price / Value 109 Approximately $/bbl, Indicator Exchange rate / Value 157 Approximately JPY/USD, Indicator Nuclear capacity factor / Value 24.5 Approximately %
Financial targetsIndicator Consolidated ordinary profit, excluding the time-lag impact of the fuel cost adjustment system / FY2026 target ¥1,900 100 million, Indicator Consolidated capital adequacy ratio / FY2026 target Approximately 20% / Actual results 19.4%, Indicator Consolidated ROIC / FY2026 target Approximately 3.5 / Actual results 3.2 %
Annual DividendAnnual ¥42 /share / Interim ¥20 /share / End of period ¥22 /share
Payout ratioNot disclosed (with a DOE of 2% as a guideline)
Orders received and order backlogCorporate PPA order intake ¥1,600 100 million
Market Size / ShareDemand growth in the Eastern Japan 50 Hz region over the next 10 years +9% approximately, approximately 326 billion kWh
New initiativesIncrease the year-end dividend forecast from ¥20 to ¥22 per share, Strengthening efforts to attract data centers, Collaboration with local governments and other parties in GX strategy regions, Development of GPU cloud and colocation services, Joint study of next-generation AI data centers, Reinforcement of the transmission system
Items this document does not state (14)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAcquisition of treasury sharesCapital expendituresKey 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.

The company explained that profit declined due to higher supply-demand adjustment costs in the transmission and distribution business, higher fuel costs resulting from differences in the operating status of Onagawa Unit 2 due to its regular operator inspection, and the impact of the time lag under the fuel cost adjustment system.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
FY2026 Interim Results Presentation Materials | Tohoku Electric Power Company,Incorporated (9506) timely disclosure | Komori