Chubu Electric Power Company (9502) Q3 2026 earnings summary

Executive summary

• Operating revenue for 3Q FY2025 was ¥2,566.3 billion, down 3.2% year-over-year, mainly due to a decrease in fuel cost adjustment charges, including government support for electricity bills.

• Ordinary profit rose to ¥240.7 billion, up 8.3% year-over-year, driven by increased profits from fuel procurement in the domestic thermal power business and time lag gains.

• Profit attributable to owners of parent increased by 21.2% to ¥202.5 billion, reflecting the rise in ordinary profit.

• Comprehensive income grew 32.3% year-over-year to ¥272.6 billion.

• The company recorded decreased revenues but increased profit for the first time in two years since 2023/3Q.

Risk factors and uncertainties

• Inappropriate matters related to the restart of the Hamaoka Nuclear Power Station led to costs and the establishment of a third-party committee to investigate and prevent recurrence.

• Regulatory reviews and compliance issues have resulted in suspended review meetings and additional reporting requirements from authorities, with deadlines extending into March and April 2026.

• Forecasts are based on current information and assumptions; actual results may differ due to various factors.

Financial highlights

• Operating profit was ¥168.5 billion, down 8.4% year-over-year.

• Share of profit from entities accounted for using the equity method increased by ¥42.6 billion.

• Non-operating income rose by ¥40.3 billion, while income taxes decreased by ¥13.0 billion.

• Assets increased to ¥7,499.5 billion, and net assets rose to ¥3,078.3 billion as of December 31, 2025.

• Profit per share (primary) for the nine months was ¥268.18, up from ¥221.12 year-over-year.