Chubu Electric Power Company (9502) Q2 2026 earnings summary

Executive summary

• Operating revenue for the six months ended September 30, 2025, was ¥1,747.8 billion, down 1.1% year-over-year, mainly due to TOENEC CORPORATION becoming an affiliate rather than a subsidiary.

• Ordinary profit rose by 4.5% year-over-year to ¥196.2 billion, driven by a positive time lag impact, despite losses from the suspension of a domestic offshore wind project and higher fixed power costs.

• Profit attributable to owners of parent increased by 13.2% year-over-year to ¥166.3 billion, reflecting the rise in ordinary profit.

• Operating profit increased 2.0% year-over-year to ¥145.5 billion.

• Comprehensive income decreased 20.3% year-over-year to ¥151.3 billion.

Financial highlights

• EPS (primary and fully diluted) for the period was ¥220.28, up from ¥194.39 year-over-year.

• Total assets as of September 30, 2025, were ¥7,414.0 billion, up from ¥7,124.8 billion at March 31, 2025.

• Net assets increased to ¥2,983.4 billion from ¥2,858.5 billion at March 31, 2025.

• Shareholders' equity ratio was 39.1% as of September 30, 2025.

• Share of profit from entities using equity method increased by ¥11.5 billion to ¥68.3 billion.

Outlook and guidance

• Full-year operating revenue forecast for FY2025 is ¥3,550.0 billion, up 3.2% year-over-year.

• Ordinary profit forecast is ¥230.0 billion, down 16.8% year-over-year.

• Profit attributable to owners of parent forecast is ¥185.0 billion, down 8.5% year-over-year.

• Annual dividend forecast is ¥70.00 per share, up from ¥60.00 in the previous year.

• Segment forecasts revised: Miraiz and Power Grid profits expected to rise by ¥15.0 billion each, while Others/Adjustment charge to decrease by ¥30.0 billion due to wind project suspension.