Tokyo Electric Power Company Holdings, Incorporated · TSE:9501

Tokyo Electric Power — Q1 FY2025 Earnings Presentation

45 slides from Tokyo Electric Power's earnings presentation, Jul 31, 2025

  1. Slide 1: FY2025 1st Quarter Financial Results (April 1 – June 30, 2025)

    FY2025 1st Quarter Financial Results (April 1 – June 30, 2025) Tokyo Electric Power Company Holdings, Inc. ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  2. Slide 2: ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

    ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  3. Slide 3: Overview of FY2025 1st Quarter Financial Results

    1 Overview of FY2025 1st Quarter Financial Results (Released on July 31, 2025) Regarding Forward-Looking Statements Certain statements in the following presentation regarding TEPCO Group’s business operations may constitute “forward-looking statements”. As such, these statements are not historical f

  4. Slide 4: Consolidated Financial Results Summary

    1. Consolidated Financial Results Summary 2 【Main Points of the FY2025 1st Quarter Financial Results】 ➢ Operating revenue decreased mainly due to a decrease in total electricity sales volume. ➢ Ordinary income/ loss remained at the same level as 1st quarter financial results of FY2024, despite a dec

  5. Slide 5: Key Factors Affecting Performance

    (Ref.) Key Factors Affecting Performance 3 Electricity Sales Volume (Unit: Billion kWh) FY2025 FY2024 Comparison Apr–Jun (A) Apr–Jun (B) (A)-(B) (A)/(B) (%) Total Electricity Sales Volume 48.1 52.3 -4.2 92.0 Retail Electricity Sales Volume *1 38.6 42.4 -3.8 91.1 Wholesale Electricity Sales Volume *2

  6. Slide 6: Overview of Each Company

    2. Overview of Each Company 4 (Unit: Billion Yen) FY2025 FY2024 Comparison Apr–Jun (A) Apr–Jun (B) (A)-(B) (A)/(B) (%) Operating Revenue 1,425.1 1,492.5 -67.4 95.5 TEPCO Holdings (HD) 165.7 171.8 -6.0 96.5 TEPCO Fuel & Power (FP) 0.9 0.9 -0.0 97.8 TEPCO Power Grid (PG) 517.7 518.3 -0.5 99.9 TEPCO En

  7. Slide 7: Points of Each Company

    3. Points of Each Company 5 ➢ HD: Ordinary income increased mainly due to an increase in dividend income. ➢ FP: Ordinary income increased mainly due to a positive turn in the impact of time-lag at JERA. ➢ PG: Ordinary income increased mainly due to a decrease in costs related to supply and demand ad

  8. Slide 8: Consolidated Extraordinary Income/Loss

    4. Consolidated Extraordinary Income/ Loss 6 (Unit: Billion Yen) FY2025 FY2024 Comparison Apr–Jun (A) Apr–Jun (B) (A)-(B) Extraordinary Income – – – Extraordinary Loss 954.9 18.0 +936.8 Extraordinary Loss on disaster *1 903.0 – +903.0 Expenses for Nuclear Damage Compensation *2 51.9 18.0 +33.8 Extra

  9. Slide 9: Main Item of Extraordinary Loss on Disaster

    (Ref.) Main Item of Extraordinary Loss on Disaster 7 ➢ Based on the presentation of preparatory process at the Sub-Committee for the Evaluation of Fuel Debris Retrieval Methods of NDF, which assumes retrieval through a combination of side/ top access, newly anticipated costs for preparatory work for

  10. Slide 10: Consolidated Financial Position

    5. Consolidated Financial Position 8 ➢ Total assets balance decreased by 275.5 billion yen mainly due to a decrease in current assets. ➢ Total liabilities balance increased by 649.2 billion yen mainly due to an increase in provision for loss on disaster. ➢ Total net assets balance decreased by 924.8

  11. Slide 11: Year-on-Year Comparisons for TEPCO Holdings

    (Ref.) Year-on-Year Comparisons for TEPCO Holdings 9 Ordinary Income/ Loss (Unit: Billion Yen) Increase in profits: Profit structure 11.3 billion yen Income includes dividend income, decommissioning Increase in dividend FY2025 subsidy income, management support fees, and nuclear wholesale power sale

  12. Slide 12: Year-on-Year Comparisons for TEPCO Fuel & Power

    (Ref.) Year-on-Year Comparisons for TEPCO Fuel & Power 10 Ordinary Income/ Loss Profit structure (Unit: Billion Yen) Main profit is profit of entities accounted for using Excluding impact of time-lag equity method, such as supply and demand -11.3 Increase in balance at JERA. profits: 0.6 billion yen

  13. Slide 13: Year-on-Year Comparisons for TEPCO Power Grid

    (Ref.) Year-on-Year Comparisons for TEPCO Power Grid 11 Ordinary Income/ Loss (Unit: Billion Yen) Profit structure Decrease in costs related to supply Increase in Operating revenue is mainly transmission and demand profits: revenue, and this is fluctuated by area demand. adjustment, etc. Others 10.7

  14. Slide 14: Year-on-Year Comparisons for TEPCO Energy Partner

    (Ref.) Year-on-Year Comparisons for TEPCO Energy Partner 12 Profit structure Revenue is mainly from electricity charges and fluctuates with Ordinary Income/ Loss electricity sales volume. Expenses are mainly costs for purchased power and for third party’s power transmission services. (Unit: Billion

  15. Slide 15: Year-on-Year Comparisons for TEPCO Renewable Power

    (Ref.) Year-on-Year Comparisons for TEPCO Renewable Power 13 Ordinary Income/ Loss (Unit: Billion Yen) Profit structure Increase in Operating revenue is mainly wholesale power sales of profits: hydroelectric and new energies. decreases in costs for 3.4 billion yen Expenses are mainly for depreciatio

  16. Slide 16: Image of Time-Lag

    (Ref.) Image of Time-Lag 14 (Unit: Billion Yen) FY2023 FY2024 FY2025 Apr–Jun Apr–Jun Apr–Jun Ordinary Ordinary Ordinary Income/ Loss Income/ Loss Income/ Loss 233.1 102.2 101.2 Excluding Excluding Excluding impact of impact of impact of time-lag time-lag time-lag 96.1 93.2 61.2 Impact from positive

  17. Slide 17: Supplemental Material

    15 Supplemental Material ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  18. Slide 18: Table of Contents

    Table of Contents 16 Financial Results Detailed Information The Current Status of Fukushima Daiichi NPS and Future Initiatives Consolidated Statements of Income 18 Current Situation and Status of Units 1 through 4 29 The status of Grants–in-aid from Nuclear Damage Compensation and Decommissioning 19

  19. Slide 19: FY2025 1st Quarter Financial Results Detailed Information

    17 FY2025 1st Quarter Financial Results Detailed Information ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  20. Slide 20: Consolidated Statements of Income

    Consolidated Statements of Income 18 (Unit: Billion Yen) FY2025 FY2024 Comparison Apr–Jun (A) Apr–Jun (B) (A)-(B) (A)/(B) (%) Operating Revenue 1,425.1 1,492.5 -67.4 95.5 Operating Expenses 1,360.4 1,429.6 -69.2 95.2 Operating Income/ Loss 64.6 62.8 1.8 102.9 Non-operating Revenue 61.9 59.1 2.7 104.

  21. Slide 21: Grants-in-aid from Nuclear Damage Compensation and Decommissioning Facilitation Corporation and Expenses

    The Status of Grants-in-aid from Nuclear Damage Compensation and Decommissioning 19 Facilitation Corporation and Expenses for Nuclear Damage Compensation (Unit: Billion Yen) FY2025 Cumulative Item FY2010 to FY2024 Apr–Jun Amount ◇Grants-in-aid from Nuclear Damage Compensation and Decommissioning Fac

  22. Slide 22: Consolidated Balance Sheets

    Consolidated Balance Sheets 20 (Unit: Billion Yen) <Interest-bearing debt balance> (Unit: Billion Yen) Jun 30 Mar 31 Comparison Jun 30 Mar 31 (A)-(B) 2025 (A) 2025 (B) 2025 (A) 2025 (B) (A)-(B) (A)/(B) (%) Bonds 3,625.0 3,535.0 90.0 Total Assets 14,711.4 14,986.9 -275.5 98.2 Long-term Debt 74.9 81.8

  23. Slide 23: Key Factors Affecting Performance

    Key Factors Affecting Performance 21 *1 Total of EP consolidated (EP/ PinT) and PG (last resort supply/ islands) Key Factors Affecting Performance（Results） *2 Total (excluding indirect auctions) of EP, PG (including inter-regional), and RP consolidated (RP/ Tokyo Electric Generation) *3 The crude oi

  24. Slide 24: Seasonal Breakdown of Retail Electricity Sales Volume and Total Power Generated

    Seasonal Breakdown of Retail Electricity Sales Volume and Total Power Generated 22 Retail Electricity Sales Volume（EP Consolidated） (Unit: Billion kWh) FY2025 Apr May Jun Apr–Jun Lighting 4.72 3.64 3.53 11.89 Power 8.81 8.58 9.22 26.61 Total 13.54 12.22 12.75 38.50 FY2024 [Ref.]Year-on-year Apr May

  25. Slide 25: Schedules for Public Bond Redemption

    Schedules for Public Bond Redemption 23 Amount at Maturity (As of June 30, 2025) (Billion Yen) TEPCO Public Bond TEPCO Power Grid Public Bond TEPCO Renewable Power Public Bond (FY) Note: The amount redeemed for Apr–Jun of FY2025 totaled 60.0 billion yen ©Tokyo Electric Power Company Holdings, Inc. A

  26. Slide 26: Status of Kashiwazaki-Kariwa Nuclear Power Station

    24 25 Status of Kashiwazaki-Kariwa Nuclear Power Station ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  27. Slide 27: Status of Kashiwazaki-Kariwa Nuclear Power Station (NPS)

    Status of Kashiwazaki-Kariwa Nuclear Power Station(NPS) 25 ✓ By June 21, 2025, TEPCO completed fuel loading for Unit 6. Currently, we are conducting soundness confirmations, including pre-operational inspection after fuel loading. It is expected that by around August, the technical preparations for

  28. Slide 28: Construction Process of Specialized Safety Facility, etc.

    (Ref.) Construction Process of Specialized Safety Facility, etc. 26 ✓ Specialized safety facility is a backup facility to prevent breakage of PCV in the event of widespread equipment unavailability due to large-scale damage, such as material damage caused by intentional aircraft impact. ✓ Specialize

  29. Slide 29: Communication with the Local Community

    Communication with the Local Community 27 ✓Through opportunities such as communication booths and station tours, we directly listen to the opinions of local community regarding the power station and explain the efforts and initiatives being undertaken at the facility. ✓ TEPCO shares updates on the d

  30. Slide 30: The Current Status of Fukushima Daiichi Nuclear Power Station and Future Initiatives

    28 The Current Status of Fukushima Daiichi Nuclear Power Station and Future Initiatives ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  31. Slide 31: Current Situation and Status of Units 1 through 4

    Current Situation and Status of Units 1 through 4 29 ✓ Spent fuel removal from Units 3 and 4 was completed. Currently, preparation for Units 1 and 2 spent fuel removal is being conducted. ✓ Trial retrieval of fuel debris (2nd time) from Unit 2 was completed. Currently, preparation for Units 1 and 3

  32. Slide 32: The Trial Retrieval of Fuel Debris from Unit 2

    The Trial Retrieval of Fuel Debris from Unit 2 30 ✓ The 2nd trial retrieval of fuel debris from Unit 2 was completed on April 23, 2025. ✓ The fuel debris collected during the 2nd trial retrieval is also being characterized at the JAEA Oarai Nuclear Engineering Laboratories. ✓ The total weight of the

  33. Slide 33: ALPS Treated Water Discharge History & Plan

    ALPS Treated Water Discharge History & Plan 31 ✓ We planned 7 rounds of water discharge in FY2025, totaling approx. 54,600m3 of water and approx. 15.3 trillion Bq of tritium per year. ✓ The 2nd round of water discharge for FY2025 began on July 14, 2025. (Planned period: July 14, 2025, to August 1; P

  34. Slide 34: Milestones and Progress in the 5th Revision of Mid-and-Long-Term Roadmap

    Milestones and Progress in the 5th Revision of Mid-and-Long-Term Roadmap(December 2019) 32 Maintain Overall Framework of Decommissioning Schedule Dec. 2011 Nov. 2013 Dec. 2021 End of 2031 30 - 40 years after cold shutdown Phase 1 Phase 2 Phase 3-(1) Phase 3 Period until start of spent fuel Period un

  35. Slide 35: Main Item of Extraordinary Loss on Disaster (reposting Slide 7)

    (Ref.) Main Item of Extraordinary Loss on Disaster (reposting Slide 7 of this material) 33 ➢ Based on the presentation of preparatory process at the Sub-Committee for the Evaluation of Fuel Debris Retrieval Methods of NDF, which assumes retrieval through a combination of side/ top access, newly anti

  36. Slide 36: Revision of the Estimated Expenditure Related to Retrieval of Fuel Debris

    (Ref.) Revision of the Estimated Expenditure Related to retrieval of Fuel Debris 34 35 ✓ Based on the presentation of preparatory process at the Sub-Committee for the Evaluation of Fuel Debris Retrieval Methods of NDF, we allocated 903.0 billion for newly anticipated costs for preparatory work for t

  37. Slide 37: Amount of Compensation for Nuclear Damages Paid and to Be Paid

    Amount of Compensation for Nuclear Damages Paid and Amount of Compensation to Be Paid 35 ✓ The amount of compensation paid as of the end of June 2025 was 11,578.8 billion yen. <Amount of compensation paid and amount of compensation to be paid> Mar 22, 2022 Mar 22, 2023 Mar 3, 2025 ¥12,586.5 billion

  38. Slide 38: Overview of Necessary Funds to Fulfill Our Responsibilities to Fukushima

    (Ref.) Overview of Necessary Funds to Fulfill Our Responsibilities to Fukushima 36 ✓ In December 2023, the Japanese government’s Nuclear Emergency Response Headquarters decided on a strategy to raise the maximum limit on issuance of national bonds for delivery to TEPCO (15.4 trillion yen for compens

  39. Slide 39: Status of Funding Secured for the Fulfillment of Our Responsibilities to Fukushima

    (Ref.) Status of Funding Secured for the Fulfillment of Our Responsibilities to Fukushima 37 Status of raising 500.0 billion yen per year (Billion Yen) FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 ①Decommissioning Reserve Fund 391.3 361.1 280.4 260.0 260.1 270.0 260.1 262.0 ②Special Contr

  40. Slide 40: Efforts to Increase Corporate Value

    38 Efforts to Increase Corporate Value ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  41. Slide 41: Main Efforts to Increase Corporate Value -1

    Main Efforts to Increase Corporate Value -1 39 <TEPCO Holdings(HD)> April 2, 2025 TEPCO HD signed a collaboration agreement with Tottori City regarding the “Tottori City Carbon Neutral Leading Area Development Project”. The project aims to implement solar power generation systems and storage batteri

  42. Slide 42: Main Efforts to Increase Corporate Value -2

    Main Efforts to Increase Corporate Value -2 40 <TEPCO Power Grid(PG)> April 1, 2025 Together with Kansai Transmission and Distribution, Inc., TEPCO PG established the “Smart Resilience Network” to promote the integration and effective use of distributed resources, aiming to achieve carbon neutrality

  43. Slide 43: Main Efforts to Increase Corporate Value -3

    Main Efforts to Increase Corporate Value -3 41 <TEPCO Energy Partner(EP)> April 15, 2025 As part of the technological development project for the decarbonized energy network “Yamanashi Model”, which uses hydrogen as a heat source, TEPCO EP introduced a One-Pack P2G system at Sumitomo Rubber Industri

  44. Slide 44: Future Electricity Demand Projections in the TEPCO PG Area

    Future Electricity Demand Projections in the TEPCO PG Area (repost) 42 ✓ There has been increased interest in construction and expansion of data centers and semiconductor plants in FY2024. This is projected to have a large impact on the increase in electricity demand. ✓ As data centers are expanded

  45. Slide 45: Enhancement of Responsibility

    Action to Implement Management that Is Conscious of Cost of Capital and Stock Price (repost) 43 ✓ To restore public confidence and thoroughly fulfill our responsibility to Fukushima, TEPCO will make the best use of business resources and maximize our corporate value while being conscious of the mark

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