Revision to Full-Year Earnings Forecasts and Recognition of Extraordinary Losses (Consolidated and Non-Consolidated)
Electric Power Development Co.,Ltd., consolidated subsidiary Genex Power Pty Ltd, and other consolidated subsidiaries
Projects conducted by Genex Power Pty Ltd, the construction project for the Ohma Nuclear Power Plant, the Takasago Thermal Power Plant, and 1 onshore wind power-related development project promoted by a consolidated subsidiary
The Genex Power Pty Ltd projects were affected by higher construction costs and weakness in the Australian electricity market; the Ohma Nuclear Power Plant by measures to ensure the quality and reliability of instrumentation and control equipment; the Takasago Thermal Power Plant by the decision to decommission it by the end of fiscal 2028; and the onshore wind power-related development project by changes in the business environment and other factors.
Total extraordinary losses of approximately ¥54 billion on a consolidated basis and approximately ¥52 billion on a non-consolidated basis. On a consolidated basis, the losses include approximately ¥23 billion in impairment losses, approximately ¥18.5 billion in losses on disposal of fixed assets, approximately ¥5 billion in extraordinary losses and approximately ¥4 billion in impairment losses, among others. On a non-consolidated basis, the losses include approximately ¥28 billion in valuation losses on shares of affiliated companies, among others.
Fiscal year ending March 2026 (1 April 2025 to 31 March 2026)
The consolidated forecast for the fiscal year ending March 2026 has been revised to revenue of ¥1,180 billion, operating profit of ¥98 billion, ordinary profit of ¥152 billion and net income attributable to owners of the parent of ¥66 billion. The non-consolidated forecast has been revised to revenue of ¥826 billion, operating profit of ¥29 billion, ordinary profit of ¥101 billion and net income of ¥48 billion. The minimum dividend forecast of ¥100 per share remains unchanged.
Company response
The current plan for 1 onshore wind power-related development project of a consolidated subsidiary has been discontinued. The company has decided to decommission the Takasago Thermal Power Plant by the end of fiscal 2028.
The company expects to recognize extraordinary losses. The Takasago Thermal Power Plant will be decommissioned by the end of fiscal 2028, and the current plan for 1 onshore wind power-related development project will be discontinued. The dividend forecast of ¥100 per share, which is the minimum dividend, remains unchanged.
| Item | Details |
|---|---|
| Event name | Revision to Full-Year Earnings Forecasts and Recognition of Extraordinary Losses (Consolidated and Non-Consolidated) |
| Subject Entity | Electric Power Development Co.,Ltd., consolidated subsidiary Genex Power Pty Ltd, and other consolidated subsidiaries |
| Target Locations / Products | Projects conducted by Genex Power Pty Ltd, the construction project for the Ohma Nuclear Power Plant, the Takasago Thermal Power Plant, and 1 onshore wind power-related development project promoted by a consolidated subsidiary |
| Cause | The Genex Power Pty Ltd projects were affected by higher construction costs and weakness in the Australian electricity market; the Ohma Nuclear Power Plant by measures to ensure the quality and reliability of instrumentation and control equipment; the Takasago Thermal Power Plant by the decision to decommission it by the end of fiscal 2028; and the onshore wind power-related development project by changes in the business environment and other factors. |
| Amount of Impact on Business Performance | Total extraordinary losses of approximately ¥54 billion on a consolidated basis and approximately ¥52 billion on a non-consolidated basis. On a consolidated basis, the losses include approximately ¥23 billion in impairment losses, approximately ¥18.5 billion in losses on disposal of fixed assets, approximately ¥5 billion in extraordinary losses and approximately ¥4 billion in impairment losses, among others. On a non-consolidated basis, the losses include approximately ¥28 billion in valuation losses on shares of affiliated companies, among others. |
| Accounting period in which recognized | Fiscal year ending March 2026 (1 April 2025 to 31 March 2026) |
| Impact on Earnings Forecast | The consolidated forecast for the fiscal year ending March 2026 has been revised to revenue of ¥1,180 billion, operating profit of ¥98 billion, ordinary profit of ¥152 billion and net income attributable to owners of the parent of ¥66 billion. The non-consolidated forecast has been revised to revenue of ¥826 billion, operating profit of ¥29 billion, ordinary profit of ¥101 billion and net income of ¥48 billion. The minimum dividend forecast of ¥100 per share remains unchanged. |
| Suspended operations | The current plan for 1 onshore wind power-related development project of a consolidated subsidiary has been discontinued. The company has decided to decommission the Takasago Thermal Power Plant by the end of fiscal 2028. |
| Outlook | The company expects to recognize extraordinary losses. The Takasago Thermal Power Plant will be decommissioned by the end of fiscal 2028, and the current plan for 1 onshore wind power-related development project will be discontinued. The dividend forecast of ¥100 per share, which is the minimum dividend, remains unchanged. |
Items this document does not state (16)
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.Revenue is expected to decline due to factors including lower electricity sales volumes in the power generation and overseas businesses. Consolidated ordinary profit has been revised upward due to higher profit in the domestic power generation business, higher profit in the U.S. business and the weaker yen, while net income attributable to owners of the parent has been revised downward due to the extraordinary losses. The main reasons for the extraordinary losses are higher construction costs and weakness in the Australian electricity market affecting projects of Genex Power Pty Ltd, the disposal of certain instrumentation and control equipment at the Ohma Nuclear Power Plant, the decision to decommission the Takasago Thermal Power Plant, and changes in the business environment for an onshore wind power-related development project.