The Kansai Electric Power Company (9503) Q3 2026 earnings summary

Executive summary

• Q3 FY2025 consolidated net sales decreased by 6.5% year-over-year to ¥2,949.1 billion, mainly due to lower electric sales revenue.

• Consolidated ordinary profit increased by 1.5% year-over-year to ¥462.9 billion, supported by higher Information and Telecommunications segment profits despite lower Energy segment profits.

• Profit attributable to owners of parent declined by 6.1% year-over-year to ¥340.1 billion.

• Operating profit for Q3 FY2025 was ¥387.7 billion, down 3.0% year-over-year.

• Comprehensive income decreased 10.1% year-over-year to ¥383.9 billion.

Financial highlights

• Basic earnings per share for the nine months was ¥305.37.

• Equity ratio improved to 34.9% as of December 31, 2025.

• Interest-bearing debt decreased by ¥147.0 billion to ¥4,324.7 billion.

• Total assets as of December 31, 2025, were ¥9,690.9 billion, with net assets at ¥3,424.7 billion.

• Depreciation and amortization for the nine months totaled ¥251.5 billion.

Outlook and guidance

• FY2025 forecasts remain unchanged: net sales ¥4,050.0 billion, ordinary profit ¥490.0 billion, profit attributable to owners of parent ¥360.0 billion.

• Operating profit is projected at ¥450.0 billion, down 4.0% year-over-year.

• Annual dividend forecast is ¥75 per share (interim ¥30, year-end ¥45), up from ¥60 in the previous year.

• Equity ratio forecast at approximately 34%, ROA at 5.5%, ROE at 11.2%.

• FCF for FY2025 forecasted at approximately ¥0.0 billion.