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Presentation materials on financial results9517eREX Co.,Ltd.Electricity and gas

Supplementary Explanatory Materials for the Fiscal Year Ending March 2026 Results

For the fiscal year ended March 2026, revenue decreased year on year, while operating profit, profit before tax and profit attributable to owners of the parent increased. The earnings forecast for the fiscal year ending March 2027 is undetermined due to uncertainty over fuel prices and electricity demand arising from the situation in the Middle East. The annual dividend will be maintained at ¥22 per share.

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Direction
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Scale
32
¥100 million (year-on-year increase in profit for the year attributable to owners of the parent)
Wording
Conditional
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Contents of this document

Presentation materials on financial resultsFiscal year ending March 2026, full year11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,691 100 million-1.2%
Operating profit¥75 100 million+5.3%
Ordinary income¥89 100 million +41.8%profit before tax, IFRS
Net income¥53 100 million +151.7%profit for the year attributable to owners of the parent
Gross Profit Margin11.5%
Operating profit margin4.4%
Selling, general and administrative expenses¥134 100 million
Results for the three months of the current quarter
Net Sales
¥411 100 million
Gross margin
¥46 100 million
Selling, general and administrative expenses
¥39 100 million
Operating profit
¥28 100 million
Pretax profit
¥34 100 million
Net income
¥15 100 million
Full-year earnings forecastUndetermined for the fiscal year ending March 2027. The revised plan for the fiscal year ended March 2026 was revenue of ¥176.1 billion, operating profit of ¥7.1 billion, profit before tax of ¥7.5 billion and profit for the year of ¥4.0 billion.
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。Fiscal year ended March 2026 results versus revised plan: revenue 96.0%, operating profit 105.9%, profit before tax 119.7%, profit for the year 133.3%. Versus initial plan: revenue 96.0%, operating profit 87.4%, profit before tax 119.5%, profit for the year 156.1%.
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
FY25 finished above both the initial and revised plans, following FY24. Revenue was broadly in line with plan. The revised operating profit plan was achieved.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Share of profit of investments accounted for using the equity method, etc.+¥400 million
  • Foreign exchange gains and losses, etc.+¥1.4 billion
  • Corporate Taxes−¥3.7 billion
  • Profit attributable to non-controlling interests+¥100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Fuel prices are highly volatile, making it difficult to formulate a reasonable outlook for electricity prices and electricity demand. The assumed price for JCM credits is $60/t-CO2.
New initiatives
  • Commencement of commercial operation of the first grid-scale battery storage project
  • Expansion of the aggregation business
  • Consideration of the use of the long-term decarbonized power capacity auction
  • Consideration of attracting and jointly developing data centers near power plants
  • Establishment of a fuel supply chain in Southeast Asia
Key KPIsA metric the company considers important as a management benchmark.
  • High-voltage electricity sold2,959 GWh
    Year on year against the same period last year+21.4%
  • Low-voltage electricity sold1,138 GWh
    Year on year against the same period last year▲15.9%
  • High-voltage contracted capacity1,098 MW
    Year on year against the same period last year+15.6%
  • Number of low-voltage supply contracts268 thousand cases
    Year on year against the same period last year+11.6%
  • Retail and trading electricity sales volume7,483 GWh
    Year on year against the same period last year+3.9%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • High-voltage electricity sold2,959 GWh
    Year on year against the same period last year+21.4%
  • High-voltage revenue¥588 100 million
    Year on year against the same period last year+4.0%
  • Low-voltage electricity sold1,138 GWh
    Year on year against the same period last year▲15.9%
  • Number of low-voltage supply contracts268 thousand cases
    Year on year against the same period last year+11.6%
  • Retail and trading gross profit per unit¥2.34 /kWh
    Year on year against the same period last yearDown from ¥2.83/kWh
Segment results
Retail and trading
Net Sales¥190.5 billion
Year-on-year change in revenueDown ¥13.1 billion year on year
Operating profit¥8.5 billion
Year-on-year operating profit growthDown ¥5.0 billion year on year
Power generation and fuel
Net Sales¥56.5 billion
Year-on-year change in revenueUp ¥5.7 billion year on year
Operating profit¥400 million
Year-on-year operating profit growthUp ¥1.7 billion year on year
Overseas expansion
Net Sales¥700 million
Year-on-year change in revenueUp ¥600 million year on year
Operating profit−¥2.5 billion
Year-on-year operating profit growth¥500 million worse year on year
Other consolidation adjustments
Net Sales−¥78.7 billion
Year-on-year change in revenue¥4.6 billion improvement year on year
Operating profit(¥2.0 billion)
Year-on-year operating profit growth¥100 million worse year on year
Medium-term management plan targets
Illustrative FY30 composition of profit before tax: retail and trading 47%, aggregation 9%, fuel and power generation 1%, overseas and credits 43%.
Market Size / Share
Peak electricity demand from domestic data centers, semiconductor plants and other facilities is expected to increase by 5.37 million kW in FY2033. Approximately 90% of domestic data centers are concentrated in the Tokyo and Osaka metropolitan areas.
Capital expenditures
¥155 100 million cash flow from investing activities
Annual Dividend
Annual dividend of ¥22 per share. The breakdown between the interim and year-end dividends is not disclosed.
Contents of this document
ItemDetails
Document typePresentation materials on financial results
Fiscal Period CoveredFiscal year ending March 2026, full year
Net Sales¥1,691 100 million (YoY -1.2%)
Operating profit¥75 100 million (YoY +5.3%)
Ordinary income¥89 100 million (profit before tax, IFRS) (YoY +41.8%)
Net income¥53 100 million (profit for the year attributable to owners of the parent) (YoY +151.7%)
Gross Profit Margin11.5%
Operating profit margin4.4%
Selling, general and administrative expenses¥134 100 million
Results for the three months of the current quarterNet Sales ¥411 100 million / Gross margin ¥46 100 million / Selling, general and administrative expenses ¥39 100 million / Operating profit ¥28 100 million / Pretax profit ¥34 100 million / Net income ¥15 100 million
Full-year earnings forecastUndetermined for the fiscal year ending March 2027. The revised plan for the fiscal year ended March 2026 was revenue of ¥176.1 billion, operating profit of ¥7.1 billion, profit before tax of ¥7.5 billion and profit for the year of ¥4.0 billion.
Progress against full-year forecastFiscal year ended March 2026 results versus revised plan: revenue 96.0%, operating profit 105.9%, profit before tax 119.7%, profit for the year 133.3%. Versus initial plan: revenue 96.0%, operating profit 87.4%, profit before tax 119.5%, profit for the year 156.1%.
Self-assessment against the planFY25 finished above both the initial and revised plans, following FY24. Revenue was broadly in line with plan. The revised operating profit plan was achieved.
Segment resultsRetail and trading Net Sales ¥190.5 billion / Year-on-year change in revenue Down ¥13.1 billion year on year / Operating profit ¥8.5 billion / Year-on-year operating profit growth Down ¥5.0 billion year on year / Power generation and fuel Net Sales ¥56.5 billion / Year-on-year change in revenue Up ¥5.7 billion year on year / Operating profit ¥400 million / Year-on-year operating profit growth Up ¥1.7 billion year on year / Overseas expansion Net Sales ¥700 million / Year-on-year change in revenue Up ¥600 million year on year / Operating profit −¥2.5 billion / Year-on-year operating profit growth ¥500 million worse year on year / Other consolidation adjustments Net Sales −¥78.7 billion / Year-on-year change in revenue ¥4.6 billion improvement year on year / Operating profit (¥2.0 billion) / Year-on-year operating profit growth ¥100 million worse year on year
Breakdown of Factors Affecting the ChangeFactors Share of profit of investments accounted for using the equity method, etc. / Amount +¥400 million, Factors Foreign exchange gains and losses, etc. / Amount +¥1.4 billion, Factors Corporate Taxes / Amount −¥3.7 billion, Factors Profit attributable to non-controlling interests / Amount +¥100 million
Key KPIsIndicator name High-voltage electricity sold / Value 2,959 GWh / Year on year against the same period last year +21.4%, Indicator name Low-voltage electricity sold / Value 1,138 GWh / Year on year against the same period last year ▲15.9%, Indicator name High-voltage contracted capacity / Value 1,098 MW / Year on year against the same period last year +15.6%, Indicator name Number of low-voltage supply contracts / Value 268 thousand cases / Year on year against the same period last year +11.6%, Indicator name Retail and trading electricity sales volume / Value 7,483 GWh / Year on year against the same period last year +3.9%
Unit price and quantity metricsIndicator name High-voltage electricity sold / Value 2,959 GWh / Year on year against the same period last year +21.4%, Indicator name High-voltage revenue / Value ¥588 100 million / Year on year against the same period last year +4.0%, Indicator name Low-voltage electricity sold / Value 1,138 GWh / Year on year against the same period last year ▲15.9%, Indicator name Number of low-voltage supply contracts / Value 268 thousand cases / Year on year against the same period last year +11.6%, Indicator name Retail and trading gross profit per unit / Value ¥2.34 /kWh / Year on year against the same period last year Down from ¥2.83/kWh
Assumptions Underlying the Business OutlookFuel prices are highly volatile, making it difficult to formulate a reasonable outlook for electricity prices and electricity demand. The assumed price for JCM credits is $60/t-CO2.
Medium-term management plan targetsIllustrative FY30 composition of profit before tax: retail and trading 47%, aggregation 9%, fuel and power generation 1%, overseas and credits 43%.
Annual DividendAnnual dividend of ¥22 per share. The breakdown between the interim and year-end dividends is not disclosed.
Capital expenditures¥155 100 million (cash flow from investing activities)
Market Size / SharePeak electricity demand from domestic data centers, semiconductor plants and other facilities is expected to increase by 5.37 million kW in FY2033. Approximately 90% of domestic data centers are concentrated in the Tokyo and Osaka metropolitan areas.
New initiativesCommencement of commercial operation of the first grid-scale battery storage project, Expansion of the aggregation business, Consideration of the use of the long-term decarbonized power capacity auction, Consideration of attracting and jointly developing data centers near power plants, Establishment of a fuel supply chain in Southeast Asia
Items this document does not state (8)
Number of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsPayout ratioAcquisition of treasury sharesOrders received and order backlogKey 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.

Profit increased due to higher electricity sales volumes in the retail business, increased sales of fuel to other companies, stable operation of domestic power plants, the absence of one-off expenses incurred in the previous fiscal year, and gains on the valuation of derivatives, among other factors. Revenue was affected by the transfer of T’dash, lower low-voltage sales volumes, a decrease in trading transaction value, and the suspension of the Itoigawa Power Plant, among other factors. The earnings forecast for the fiscal year ending March 2027 is undetermined because of the difficulty of forecasting fuel price movements and electricity demand due to the situation in the Middle East.

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Supplementary Explanatory Materials for the Fiscal Year Ending March 2026 Results | eREX Co.,Ltd. (9517) timely disclosure | Komori