The Kansai Electric Power Company (9503) investor relations material

Executive summary

• FY2025 saw a decrease in both revenue and ordinary profit, mainly due to lower electricity sales and reduced nuclear capacity factor, alongside higher expenses and maintenance costs in the Energy segment.

• Achieved most financial targets in the final year of the Medium-term Management Plan, despite a 2.5% decrease in total electricity sales volume to 152.2 TWh year-over-year.

• Year-end dividend for FY2025 was JPY 45.00 per share, with annual dividends totaling JPY 75.00 per share.

• FY2026 forecasts anticipate a further decline in ordinary profit to JPY 290.0 bn and profit attributable to owners of parent to JPY 310.0 bn, but with an increased annual dividend forecast of JPY 80.00 per share.

• Net sales declined by 6.5% to ¥4,056,638 million, mainly due to lower electricity sales revenue.

Financial highlights

• FY2025 consolidated net sales: JPY 4,056.6 bn, down 6.5% year-over-year.

• Ordinary profit: JPY 518.5 bn, down 2.5% year-over-year.

• Profit attributable to owners of parent: JPY 380.0 bn, down 9.6% year-over-year.

• Basic earnings per share: ¥341.14 (down from ¥436.09 year-over-year).

• Free cash flow for FY2025 was JPY 80.4 bn.

Outlook and guidance

• FY2026 consolidated net sales forecast: JPY 4,500.0 bn (+10.9% year-over-year).

• Ordinary profit forecast: JPY 290.0 bn (-44.1% year-over-year).

• Profit attributable to owners of parent forecast: JPY 310.0 bn (-18.4% year-over-year).

• Annual dividend forecast for FY2026: JPY 80.00 per share.

• Key financial goals for FY2026–FY2028: ROIC >3.3%, ROE >8.0%, equity ratio mid-30%.