Komori
Financial results presentation9511The Okinawa Electric Power Company,IncorporatedElectricity and gas

Summary of Financial Results for the First Quarter of Fiscal 2026

In the first quarter of FY2026, consolidated net sales decreased 3.3% year on year, while operating loss, ordinary loss and net loss all widened. In addition to lower revenue due to the impact of the fuel cost adjustment system, fuel costs and purchased power costs from other companies increased.

Worth reading
59In 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
-5813
Millions of yen (year-on-year change in consolidated operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFY2026 First Quarter10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥48,819 million-3.3%
Operating profit¥-6,872 million
Ordinary income¥-7,097 million
Net income¥-7,292 million profit attributable to owners of the parent
Results for the three months of the current quarter
Period CoveredApril–June
Consolidated
Net Sales
¥48,819 million
Operating profit
¥-6,872 million
Ordinary income
¥-7,097 million
Quarterly net income
¥-7,292 million
Standalone
Net Sales
¥45,990 million
Operating profit
¥-7,109 million
Ordinary income
¥-6,788 million
Quarterly net income
¥-6,785 million
Full-year earnings forecast
Consolidated
Net Sales
¥238,800 million
Operating profit
¥7,400 million
Ordinary income
¥5,000 million
Net income for the current fiscal year
¥3,400 million
Standalone
Net Sales
¥222,000 million
Operating profit
¥4,700 million
Ordinary income
¥3,000 million
Net income for the current fiscal year
¥2,500 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Impact of the fuel cost adjustment system¥-2,594 million
  • Increase in fuel costs¥-1,556 million
  • Increase in purchased power costs from other companies¥-1,241 million
  • Other¥-400 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • CIF crude oil price
    2025 actual71
    FY2026 outlook83
  • Coal CIF price
    2025 actual119
    FY2026 outlook131
  • Exchange rate
    2025 actual151
    FY2026 outlook159
  • Retail electricity sales volume
    2025 actual7,206
    FY2026 outlook6,952
Key KPIsA metric the company considers important as a management benchmark.
  • Total electricity sales volume1,714 million kWh
    Year-on-year (%)1
  • Retail electricity sales volume1,575 million kWh
    Year-on-year (%)-1.8
  • Lighting electricity sales volume569 million kWh
    Year-on-year (%)-9.3
  • Power electricity sales volume1,006 million kWh
    Year-on-year (%)3
  • Wholesale electricity volume139 million kWh
    Year-on-year (%)48.9
  • Electricity generated (area)2,101 million kWh
    Year-on-year (%)-0.4
  • Coal-fired generation (in-house)674 million kWh
    Year-on-year (%)19.1
  • Oil-fired generation222 million kWh
    Year-on-year (%)-6.3
  • LNG-fired generation462 million kWh
    Year-on-year (%)-5.9
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Electricity soldLighting 569, power 1,006, retail total 1,575, wholesale 139, total 1,714 (million kWh)
Selling priceDecrease of ¥2,594 million in the sales unit price for lighting and power charges (impact of the fuel cost adjustment system)
Segment results
Electricity business
Net Sales¥45,990 million
Operating profit¥-7,109 million
Year on year against the same period last year
Net Sales-1,965
Operating profit-5,792
Construction Business
Net Sales¥5,770 million
Operating profit¥32 million
Year on year against the same period last year
Net Sales852
Operating profit255
Other
Net Sales¥9,208 million
Operating profit¥234 million
Year on year against the same period last year
Net Sales285
Operating profit-121
Financial targets
Consolidated capital adequacy ratioTarget of 25% (25% achieved at the end of FY2025)
Consolidated dividend on equity (DOE)Maintain at 2.0% or higher
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
70 Approximately ¥100 million
DetailsYear-on-year deterioration in the balance due to the time lag in the fuel cost adjustment system
Capital expenditures
55,700 Millions of yen FY2026 consolidated forecast
Annual Dividend
FY2026 forecast
Annual¥50 per share
Interim¥25 per share
End of period¥25 per share
FY2025 actual
Annual¥30 per share
Interim¥15 per share
End of period¥15 per share
Payout ratio
Not disclosed (DOE of 2.0% or higher)
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFY2026 First Quarter
Net Sales¥48,819 million (YoY -3.3%)
Operating profit¥-6,872 million
Ordinary income¥-7,097 million
Net income¥-7,292 million (profit attributable to owners of the parent)
Results for the three months of the current quarterPeriod Covered April–June / Consolidated Net Sales ¥48,819 million / Operating profit ¥-6,872 million / Ordinary income ¥-7,097 million / Quarterly net income ¥-7,292 million / Standalone Net Sales ¥45,990 million / Operating profit ¥-7,109 million / Ordinary income ¥-6,788 million / Quarterly net income ¥-6,785 million
Full-year earnings forecastConsolidated Net Sales ¥238,800 million / Operating profit ¥7,400 million / Ordinary income ¥5,000 million / Net income for the current fiscal year ¥3,400 million / Standalone Net Sales ¥222,000 million / Operating profit ¥4,700 million / Ordinary income ¥3,000 million / Net income for the current fiscal year ¥2,500 million
Segment resultsElectricity business Net Sales ¥45,990 million / Operating profit ¥-7,109 million / Year on year against the same period last year Net Sales -1,965 / Operating profit -5,792 / Construction Business Net Sales ¥5,770 million / Operating profit ¥32 million / Year on year against the same period last year Net Sales 852 / Operating profit 255 / Other Net Sales ¥9,208 million / Operating profit ¥234 million / Year on year against the same period last year Net Sales 285 / Operating profit -121
Breakdown of Factors Affecting the ChangeFactors Impact of the fuel cost adjustment system / Amount ¥-2,594 million, Factors Increase in fuel costs / Amount ¥-1,556 million, Factors Increase in purchased power costs from other companies / Amount ¥-1,241 million, Factors Other / Amount ¥-400 million
Key KPIsIndicator name Total electricity sales volume / Value 1,714 million kWh / Year-on-year (%) 1 million kWh, Indicator name Retail electricity sales volume / Value 1,575 million kWh / Year-on-year (%) -1.8 million kWh, Indicator name Lighting electricity sales volume / Value 569 million kWh / Year-on-year (%) -9.3 million kWh, Indicator name Power electricity sales volume / Value 1,006 million kWh / Year-on-year (%) 3 million kWh, Indicator name Wholesale electricity volume / Value 139 million kWh / Year-on-year (%) 48.9 million kWh, Indicator name Electricity generated (area) / Value 2,101 million kWh / Year-on-year (%) -0.4 million kWh, Indicator name Coal-fired generation (in-house) / Value 674 million kWh / Year-on-year (%) 19.1 million kWh, Indicator name Oil-fired generation / Value 222 million kWh / Year-on-year (%) -6.3 million kWh, Indicator name LNG-fired generation / Value 462 million kWh / Year-on-year (%) -5.9 million kWh
Unit price and quantity metricsElectricity sold Lighting 569, power 1,006, retail total 1,575, wholesale 139, total 1,714 (million kWh) / Selling price Decrease of ¥2,594 million in the sales unit price for lighting and power charges (impact of the fuel cost adjustment system)
Assumptions Underlying the Business OutlookItem CIF crude oil price / 2025 actual $71 /bbl / FY2026 outlook $83 /bbl, Item Coal CIF price / 2025 actual $119 /t / FY2026 outlook $131 /t, Item Exchange rate / 2025 actual ¥151 /$ / FY2026 outlook ¥159 /$, Item Retail electricity sales volume / 2025 actual 7,206 million kWh / FY2026 outlook 6,952 million kWh
Risk amount incorporated into the outlookAmount 70 Approximately ¥100 million / Details Year-on-year deterioration in the balance due to the time lag in the fuel cost adjustment system
Financial targetsConsolidated capital adequacy ratio Target of 25% (25% achieved at the end of FY2025) / Consolidated dividend on equity (DOE) Maintain at 2.0% or higher
Annual DividendFY2026 forecast Annual ¥50 per share / Interim ¥25 per share / End of period ¥25 per share / FY2025 actual Annual ¥30 per share / Interim ¥15 per share / End of period ¥15 per share
Payout ratioNot disclosed (DOE of 2.0% or higher)
Capital expenditures55,700 Millions of yen (FY2026 consolidated forecast)
Items this document does not state (13)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesMedium-term management plan targetsAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey points of the Q&ANew initiatives

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.

Lower revenue in the electric power business due to the impact of the fuel cost adjustment system, higher fuel costs resulting from rising fuel prices, and higher purchased power costs from other companies. The main components were an impact of ¥2,594 million from the fuel cost adjustment system, a ¥1,556 million increase in fuel costs, a ¥1,241 million increase in purchased power costs from other companies, and other factors amounting to ¥400 million.

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Summary of Financial Results for the First Quarter of Fiscal 2026 | The Okinawa Electric Power Company,Incorporated (9511) timely disclosure | Komori