Chubu Electric Power Company (9502) Q4 2026 earnings summary

Executive summary

• Operating revenue for FY2025 was ¥3,546.0 billion, down 3.4% year-over-year, mainly due to a decrease in fuel cost adjustment charges and government support for electricity bills.

• Ordinary profit rose to ¥291.0 billion, up ¥14.6 billion from FY2024, driven by improved coal procurement competitiveness and cost reductions.

• Profit attributable to owners of parent increased by ¥25.7 billion to ¥227.7 billion, reflecting higher ordinary profit.

• Comprehensive income surged 52.5% year-over-year to ¥407.6 billion.

• Operating revenue decreased for the first time in two years, while ordinary profit and net profit increased for the first time in two years.

Financial highlights

• Operating profit was ¥230.0 billion, down 5.0% year-over-year.

• Extraordinary losses increased by ¥9.6 billion to ¥16.0 billion, including impairment losses at subsidiaries.

• Cash flows from operating activities improved by ¥33.0 billion to ¥334.4 billion.

• Free cash flow improved by ¥74.0 billion to negative ¥16.3 billion.

• Profit per share (primary) increased to ¥301.57 from ¥267.41.

Outlook and guidance

• Business forecast for FY2026 is undetermined due to uncertainties in fuel and electricity market prices, especially related to Middle East geopolitical risks.

• Dividend forecast for FY2026 is maintained at ¥70 per share annually, same as FY2025.