Komori
Earnings presentation9519RENOVA,Inc.Electricity and gas

Supplementary Financial Results Materials for the First Quarter of the Fiscal Year Ending March 2027

In the first quarter, revenue and operating profit were below the prior-year period because scheduled inspections at biomass power plants were concentrated in the quarter. Meanwhile, renewable energy and energy storage development progressed, including the start of construction at the Fukuroi Ukari Battery Storage Facility and the signing of a long-term PPA for the Reihoku-Amakusa onshore wind project. The full-year earnings forecast was left unchanged.

Worth reading
68In focus
Scored from 5 of 6 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
-2253
¥ million (year-on-year change in operating income)
Wording
Conditional
How definitive the wording is.

Contents of this document

Supplementary materials to the earnings reportFirst quarter of the fiscal year ending March 202710 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥19,330 million-5.8%
Operating profit¥1,043 million-68.4%
Net income¥95 millions -89.0%profit attributable to owners of the parent
Results for the three months of the current quarter
Consolidated revenue¥19,330 million
Consolidated EBITDA¥6,783 million
Operating profit¥1,043 million
Profit attributable to owners of the parent¥95 million
Full-year earnings forecast
Revenue
¥95,700 million
EBITDA
¥33,800 million
Operating profit
¥11,300 million
Profit for the period attributable to owners of the parent
¥3,400 million
EPS
¥37.61
Installed capacity
1,289.7 MW
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。not disclosed (only described as "progressing as expected" and "generally progressing smoothly")
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing as expected / generally progressing smoothly
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Year-on-year increase in biomass scheduled-inspection outage days+107 days year on year (71 days → 178 days)
  • Variance from plan in scheduled-inspection outage days in the first quarter of the fiscal year ending March 2027-11 days versus plan (178 days → 167 days)
  • Repair work at the Karumai Nishi Solar projectAmount not disclosed
  • Changes in segment revenueRenewable energy generation and related businesses: -¥929 million; development and operations business: -¥913 million; consolidation eliminations: +¥645 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Wood pellet price
185 US$/t
Certified PKS price
130 US$/t
Exchange rate
155 Yen/Dollar
Biomass power plants
7 Locations
Annual scheduled-inspection outage days
194 days
Non-FIT solar power
160.2 MW
New initiatives
  • Investment decision, project finance arrangement and construction start for the Fukuroi Ukari Battery Storage Facility (100 MW/280 MWh)
  • Signed a 25-year long-term PPA with Tokyo Gas for the Reihoku-Amakusa onshore wind project (54.6 MW)
  • Expanded announced energy storage projects to 677 MW
Key KPIsA metric the company considers important as a management benchmark.
  • Installed capacity1,239.8 MW
    Year on year against the same period last year112.9% (increase from 1,126.8 MW in the prior-year period)
  • Biomass scheduled-inspection outage days167 days
    Year on year against the same period last year178 days in the prior-year period, -11 days versus plan
  • Total output capacity of the energy storage business677 MW
  • Cumulative volume of Non-FIT solar power generation commencement contract applications224.7 MW
  • Cumulative completed capacity of Non-FIT solar power110.3 MW
Segment results
  • Renewable Energy Generation and Related Businesses
    Revenue¥19,215 million (YoY -4.6%)
    EBITDA¥7,679 million (YoY -18.4%)
    Operating profit¥1,950 million (YoY -52.7%)
  • Development and Operations Businesses
    Revenue¥961 million (YoY -48.7%)
    EBITDA¥-12 million (YoY -101.5%)
    Operating profit¥-100 million (YoY -114.6%)
  • Consolidation eliminations
    Revenue¥-846 million
    EBITDA¥-884 million
    Operating profit¥-806 million
Medium-term management plan targets
  • Energy storage capacity (including facilities under construction)
    Target value0.9
    Target fiscal yearFY2030
    Comparison with results and outlookWith approximately 100 MW of undisclosed projects under development added to the 677 MW of announced projects, the medium-term management plan target is expected to be substantially exceeded
  • Energy storage business EBITDA
    Target value65
    Target fiscal yearFY2030
    Comparison with results and outlook¥11.5 billion–¥12.5 billion is expected in fiscal 2030
Financial targets
Net debt-to-equity ratio
Actual results1.3x
Equity attributable to owners of the parent ratio
Actual results21.1%
Equity ratio
Actual results31.8%
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
  • ¥1.4 million
    DetailsAnnual increase in finance costs if interest rates rise by 50 bp
  • ¥-3.6 million
    DetailsImpact on operating profit if wood pellet prices rise by US$10/t
  • ¥-9.6 million
    DetailsImpact on operating profit if certified PKS prices rise by US$10/t
Market Size / Share
Industry-wide grid connection applications under consideration172 GW (as of December 2025)
Contract applications30GW
Connected to the grid0.64GW
Company positioningDomestic industry leader
Contents of this document
ItemDetails
Document typeSupplementary materials to the earnings report
Fiscal Period CoveredFirst quarter of the fiscal year ending March 2027
Net Sales¥19,330 million (YoY -5.8%)
Operating profit¥1,043 million (YoY -68.4%)
Net income¥95 millions (profit attributable to owners of the parent) (YoY -89.0%)
Results for the three months of the current quarterConsolidated revenue ¥19,330 million / Consolidated EBITDA ¥6,783 million / Operating profit ¥1,043 million / Profit attributable to owners of the parent ¥95 million
Full-year earnings forecastRevenue ¥95,700 million / EBITDA ¥33,800 million / Operating profit ¥11,300 million / Profit for the period attributable to owners of the parent ¥3,400 million / EPS ¥37.61 / Installed capacity 1,289.7 MW
Progress against full-year forecastnot disclosed (only described as "progressing as expected" and "generally progressing smoothly")
Self-assessment against the planProgressing as expected / generally progressing smoothly
Segment resultsSegment Renewable Energy Generation and Related Businesses / Revenue ¥19,215 million (YoY -4.6%) / EBITDA ¥7,679 million (YoY -18.4%) / Operating profit ¥1,950 million (YoY -52.7%), Segment Development and Operations Businesses / Revenue ¥961 million (YoY -48.7%) / EBITDA ¥-12 million (YoY -101.5%) / Operating profit ¥-100 million (YoY -114.6%), Segment Consolidation eliminations / Revenue ¥-846 million / EBITDA ¥-884 million / Operating profit ¥-806 million
Breakdown of Factors Affecting the ChangeFactors Year-on-year increase in biomass scheduled-inspection outage days / Amount +107 days year on year (71 days → 178 days), Factors Variance from plan in scheduled-inspection outage days in the first quarter of the fiscal year ending March 2027 / Amount -11 days versus plan (178 days → 167 days), Factors Repair work at the Karumai Nishi Solar project / Amount Amount not disclosed, Factors Changes in segment revenue / Amount Renewable energy generation and related businesses: -¥929 million; development and operations business: -¥913 million; consolidation eliminations: +¥645 million
Key KPIsIndicator name Installed capacity / Value 1,239.8 MW / Year on year against the same period last year 112.9% (increase from 1,126.8 MW in the prior-year period), Indicator name Biomass scheduled-inspection outage days / Value 167 days / Year on year against the same period last year 178 days in the prior-year period, -11 days versus plan, Indicator name Total output capacity of the energy storage business / Value 677 MW / Year on year against the same period last year Not disclosed, Indicator name Cumulative volume of Non-FIT solar power generation commencement contract applications / Value 224.7 MW / Year on year against the same period last year Not disclosed, Indicator name Cumulative completed capacity of Non-FIT solar power / Value 110.3 MW / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookWood pellet price 185 US$/t / Certified PKS price 130 US$/t / Exchange rate 155 Yen/Dollar / Biomass power plants 7 Locations / Annual scheduled-inspection outage days 194 days / Non-FIT solar power 160.2 MW
Risk amount incorporated into the outlookDetails Annual increase in finance costs if interest rates rise by 50 bp / Amount ¥1.4 million, Details Impact on operating profit if wood pellet prices rise by US$10/t / Amount ¥-3.6 million, Details Impact on operating profit if certified PKS prices rise by US$10/t / Amount ¥-9.6 million
Medium-term management plan targetsIndicator Energy storage capacity (including facilities under construction) / Target value 0.9 GW / Target fiscal year FY2030 / Comparison with results and outlook With approximately 100 MW of undisclosed projects under development added to the 677 MW of announced projects, the medium-term management plan target is expected to be substantially exceeded, Indicator Energy storage business EBITDA / Target value ¥65 billion/year / Target fiscal year FY2030 / Comparison with results and outlook ¥11.5 billion–¥12.5 billion is expected in fiscal 2030
Financial targetsNet debt-to-equity ratio Actual results 1.3x / Target Not disclosed / Equity attributable to owners of the parent ratio Actual results 21.1% / Target Not disclosed / Equity ratio Actual results 31.8% / Target Not disclosed
Market Size / ShareIndustry-wide grid connection applications under consideration 172 GW (as of December 2025) / Contract applications 30GW / Connected to the grid 0.64GW / Company positioning Domestic industry leader
New initiativesInvestment decision, project finance arrangement and construction start for the Fukuroi Ukari Battery Storage Facility (100 MW/280 MWh), Signed a 25-year long-term PPA with Tokyo Gas for the Reihoku-Amakusa onshore wind project (54.6 MW), Expanded announced energy storage projects to 677 MW
Items this document does not state (13)
Ordinary incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesUnit price and quantity metricsNumber of stores and locationsNumber of employeesAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders 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.

Revenue and profit declined because scheduled inspections at biomass power plants were concentrated in the first quarter, increasing the number of outage days by 107, from 71 days in the prior-year period to 178 days, and because of repair work at the Karumai Nishi Solar project. Profit attributable to owners of the parent also declined, as the impact of lower operating profit outweighed gains from the increase in fair value of options and other factors.

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.
Supplementary Financial Results Materials for the First Quarter of the Fiscal Year Ending March 2027 | RENOVA,Inc. (9519) timely disclosure | Komori