Tokyo Electric Power Company (9501) Q1 2026 earnings summary

Executive summary

• Operating revenue/net sales fell 4.5% year-over-year to ¥1,425.1B due to lower electricity sales volume.

• Net loss attributable to owners was ¥857.6B, driven by a ¥903.0B extraordinary loss on disaster related to Fukushima.

• Ordinary income remained stable at ¥101.2B, supported by a positive time-lag effect from the fuel cost adjustment system.

• Comprehensive loss was ¥925.8B, a sharp reversal from ¥174.5B comprehensive income last year.

• Segment ordinary income increased in Holdings, Fuel & Power, Power Grid, Energy Partner, and Renewable Power, mainly due to time-lag effects and cost reductions.

Financial highlights

• Operating income rose to ¥64.7B, up ¥1.8B year-over-year.

• Extraordinary loss surged to ¥954.9B, mainly from Fukushima-related restoration and compensation costs.

• Net assets dropped by ¥924.8B to ¥2,861.3B, and equity ratio declined to 19.3%.

• EPS fell to -¥535.36 from ¥49.46 year-over-year.

• Total assets decreased to ¥14,711.4B from ¥14,987.0B at March 31, 2025.

Outlook and guidance

• FY2025 consolidated performance forecast remains undetermined due to ongoing uncertainties, especially regarding the Kashiwazaki-Kariwa Nuclear Power Station restart.

• No revisions to dividend forecasts; annual dividend per share remains at ¥0.00.

• Electricity demand in the service area is projected to rise, driven by data center and semiconductor plant expansion.