Tokyo Electric Power Company Holdings, Incorporated · TSE:9501

Tokyo Electric Power — Q3 FY2024 Earnings Presentation

46 slides from Tokyo Electric Power's earnings presentation, Jan 30, 2025

  1. Slide 1: FY2024 3rd Quarter Financial Results

    FY2024 3rd Quarter Financial Results (April 1 – December 31, 2024) 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 FY2024 3rd Quarter Financial Results

    1 Overview of FY2024 3rd Quarter Financial Results (Released on January 30, 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 historica

  4. Slide 4: Consolidated Financial Results Summary

    1. Consolidated Financial Results Summary 2 【Main points of the FY2024 3rd Quarter Financial Results】 Operating revenue decreased mainly due to a decrease in fuel cost adjustments caused by falling fuel prices, etc. Ordinary income/loss and net income/loss decreased mainly due to the negative turn o

  5. Slide 5: (Reference) Key Factors Affecting Performance

    (Reference) Key Factors Affecting Performance 3 Electricity Sales Volume (Unit: Billion kWh) FY2024 FY2023 Comparison Apr-Dec (A) Apr-Dec (B) (A)-(B) (A)/(B) (%) Total Electricity Sales Volume 169.0 168.7 +0.3 100.2 Retail Electricity Sales Volume ※1 138.3 144.7 -6.5 95.5 Wholesale Electricity Sales

  6. Slide 6: Overview of Each Company

    2. Overview of Each Company 4 (Unit: Billion Yen) FY2024 FY2023 Comparison Apr-Dec (A) Apr-Dec (B) (A)-(B) (A)/(B) (%) Operating Revenue 4,963.3 5,105.0 -141.7 97.2 TEPCO Holdings (HD) 524.7 421.6 +103.0 124.4 TEPCO Fuel & Power (FP) 2.8 2.9 -0.0 97.2 TEPCO Power Grid (PG) 1,721.2 1,618.6 +102.5 106

  7. Slide 7: Points of Each Company

    3. Points of Each Company 5 HD: Ordinary income increased mainly due to an increase in wholesale power sales. FP: Ordinary income decreased mainly due to a negative turn in the impact of time-lag at JERA. PG: Ordinary income decreased mainly due to an increase in costs related to supply and demand a

  8. Slide 8: Consolidated Extraordinary Income/Loss

    4. Consolidated Extraordinary Income/Loss 6 (Unit: Billion Yen) FY2024 FY2023 Comparison Apr-Dec (A) Apr-Dec (B) (A)-(B) Extraordinary Income - - - Extraordinary Loss 64.7 108.7 -43.9 Expenses for Nuclear Damage Compensation ※ 64.7 108.7 -43.9 Extraordinary Income/Loss -64.7 -108.7 +43.9 ※ Increase

  9. Slide 9: Consolidated Financial Position

    5. Consolidated Financial Position 7 Total assets balance decreased by 45.3 billion yen mainly due to a decrease in current assets. Total liabilities balance decreased by 308.5 billion yen mainly due to a decrease in accrued expenses. Total net assets balance increased by 263.1 billion yen mainly du

  10. Slide 10: Year-on-Year Comparisons for TEPCO Holdings

    (Reference) Year-on-Year Comparisons for TEPCO Holdings 8 Ordinary Income/Loss (Unit: Billion Yen) Profit structure Increase in profits: 66.7 billion yen Income includes dividend income, decommissioning subsidy income, management support fees, and nuclear wholesale Increase in wholesale FY2024 power

  11. Slide 11: Year-on-Year Comparisons for TEPCO Fuel & Power

    (Reference) Year-on-Year Comparisons for TEPCO Fuel & Power 9 Ordinary Income/Loss Profit structure (Unit: Billion Yen) Main profit is profit of entities accounted for using Excluding equity method, such as supply and demand impact of balance at JERA. time-lag 42.6 Decrease Impact from Excluding imp

  12. Slide 12: Year-on-Year Comparisons for TEPCO Power Grid

    (Reference) Year-on-Year Comparisons for TEPCO Power Grid 10 Ordinary Income/Loss Increase in costs Profit structure (Unit: Billion Yen) related to supply Increase in and demand FY2023 transmission revenue ※1 adjustment, etc. Impact of last Operating revenue is mainly transmission revenue, and this

  13. Slide 13: Year-on-Year Comparisons for TEPCO Energy Partner

    (Reference) Year-on-Year Comparisons for TEPCO Energy Partner 11 Profit structure Ordinary Income/Loss Operating revenue is mainly electricity sales revenue, and this is fluctuated by electricity sales volume. Expenses are mainly power purchasing costs and transmission fees (Unit: Billion Yen) of co

  14. Slide 14: Year-on-Year Comparisons for TEPCO Renewable Power

    (Reference) Year-on-Year Comparisons for TEPCO Renewable Power 12 Ordinary Income/Loss (Unit: Billion Yen) Profit structure Operating revenue is mainly wholesale power sales of Increase in hydroelectric and new energies. profits: Expenses are mainly for depreciation and repairs. Increase in 7.7 bill

  15. Slide 15: (Reference) Image of Time-Lag

    (Reference) Image of Time-Lag 13 (Unit: Billion Yen) FY2023 Apr-Dec FY2024 Apr-Dec Ordinary Income/Loss Ordinary Income/Loss 518.4 348.7 Excluding impact Excluding impact of time-lag of time-lag 352.4 Impact from negative turn 360.7 of time-lag Gain -178.0 billion yen +166.0 billion yen Revenue side

  16. Slide 16: Capital Expenditures & Depreciation and Amortization Progression

    (Reference) Capital Expenditures & Depreciation and Amortization Progression 14 (Billion Yen) 1,200 Capital Expenditures Depreciation and Amortization 1,000 972.7 800 765.1 750.0 675.0 647.3 665.7 624.2 639.7 637.7 524.4 608.8 600 686.5 575.9 602.7 568.6 541.8 566.0 621.0 621.9 585.9 564.2 561.2 422

  17. Slide 17: (Reference) FCF Progression

    (Reference) FCF Progression 15 (Unit: Billion Yen) FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 Operating CF -2.8 260.8 638.1 872.9 1,077.5 783.0 752.1 503.7 323.4 239.8 406.4 -75.6 673.0 Investing CF -335.1 -636.6 -293.2 -523.9 -620.9 -478.4 -520.5 -570

  18. Slide 18: Interest Bearing Debt Outstanding Progression

    (Reference) Interest Bearing Debt Outstanding Progression 16 (Billion Yen) 9,000 8,277.3 7,892.0 8,000 7,600.0 6,996.4 7,000 6,599.3 6,300.5 6,004.9 6,022.9 5,890.7 6,000 5,756.4 5,440.2 4,914.9 4,889.0 5,000 4,000 3,000 2,000 1,000 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

  19. Slide 19: Supplemental Material

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

  20. Slide 20: Table of Contents

    Table of Contents 18 Financial Results Detailed Information The Current Status of Fukushima Daiichi NPS and Future Initiatives Consolidated Statements of Income 20 Current Situation and Status of Units 1 through 4 33 The status of Grants–in-aid from Nuclear Damage Compensation and 21 The Trial Retri

  21. Slide 21: FY2024 3rd Quarter Financial Results Detailed Information

    19 FY2024 3rd Quarter Financial Results Detailed Information ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  22. Slide 22: Consolidated Statements of Income

    Consolidated Statements of Income 20 (Unit: Billion Yen) FY2024 FY2023 Comparison Apr-Dec(A) Apr-Dec(B) (A)-(B) (A)/(B) (%) Operating Revenue 4,963.3 5,105.0 -141.7 97.2 Operating Expenses 4,652.2 4,722.5 -70.2 98.5 Operating Income / Loss 311.0 382.5 -71.4 81.3 Non-operating Revenue 112.8 195.1 -82

  23. Slide 23: Grants-in-aid and Expenses for Nuclear Damage Compensation

    The status of Grants-in-aid from Nuclear Damage Compensation and Decommissioning Facilitation Corporation and Expenses for Nuclear Damage Compensation 21 (Unit: Billion Yen) FY2024 Cumulative Item FY2010 to FY2023 Apr-Dec Amount ◇ Grants-in-aid from Nuclear Damage Compensation and Decommissioning Fa

  24. Slide 24: Consolidated Balance Sheets

    Consolidated Balance Sheets 22 (Unit: Billion Yen) <Interest-bearing debt outstanding> (Unit: Billion Yen) Dec. 31 Mar. 31 Dec.31 Mar. 31 Comparison 2024 (A) 2024 (B) (A)-(B) 2024 (A) 2024 (B) (A)-(B) (A)/(B) (%) Bonds 3,721.6 3,549.6 172.0 Total Assets 14,550.1 14,595.4 -45.3 99.7 Long-term Debt 68

  25. Slide 25: Key Factors Affecting Performance

    Key Factors Affecting Performance 23 ※1 Total of EP consolidated (EP/TCS/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

  26. Slide 26: Seasonal Breakdown of Retail Electricity Sales Volume and Total Power Generated

    Seasonal Breakdown of Retail Electricity Sales Volume and Total Power Generated 24 Retail Electricity Sales Volume（EP Consolidated） (Unit: Billion kWh) FY2024 Apr-Sep Oct Nov Dec Oct-Dec Apr-Dec Lighting 28.13 4.26 3.95 4.88 13.09 41.21 Power 66.52 10.64 9.55 9.71 29.91 96.43 Total 94.65 14.90 13.50

  27. Slide 27: Schedules for Public Bond Redemption

    Schedules for Public Bond Redemption 25 Amount at Maturity (As of Dec. 31, 2024) (Billion Yen) TEPCO Public Bond TEPCO Power Grid Public Bond TEPCO Renewable Power Public Bond (FY) Note: The amount redeemed for Apr. - Dec. of FY2024 totaled 230.0 billion yen. ©Tokyo Electric Power Company Holdings,

  28. Slide 28: Status of Kashiwazaki-Kariwa Nuclear Power Station

    26 25 Status of Kashiwazaki-Kariwa Nuclear Power Station ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  29. Slide 29: Progress in Safety Measures Work at Kashiwazaki-Kariwa

    Progress in Safety Measures Work at Kashiwazaki-Kariwa Nuclear Power Station 27 <Unit 7> In April 26, 2024, performed fuel loading and confirmed that major equipment required for reactor activation would function as soundness confirmation after fuel loading by June 12, 2024. Going forward, TEPCO wil

  30. Slide 30: Soundness Confirmation after Fuel Loading in Unit 7

    Soundness Confirmation after Fuel Loading in Unit 7 28 Confirmed that equipment necessary for reactor activation and to “stopping,” “cooling,” and “containment” in the event of accident would function by June 12, 2024. ＜Reactor system, Soundness confirmation after fuel loading＞ Main steam lelief val

  31. Slide 31: Progress in Major Safety Measures Work at Unit 6

    Progress in Major Safety Measures Work at Unit 6 29 The progress of safety measures work is approximately 80% completed if it is calculated based on the number of projects. Some works with long construction times such as the work on penetrations, installation of the fire detector, and the rebuilding

  32. Slide 32: Communication with the Local Community

    Communication with the Local Community 30 The state of plant initiatives is disseminated through PR magazines and social media, and two-way communication is also being conducted through communication booths, and station tours. In addition, a "TEPCO Forum" was held to hear the opinions of more the pe

  33. Slide 33: Efforts to Increase Disaster Evacuation Effectiveness

    Efforts to Increase Disaster Evacuation Effectiveness 31 Coordination with national and local governments will take place, and every evacuation support measure possible will be undertaken, in order to increase nuclear disaster evacuation effectiveness. In the event of natural disaster occurrence suc

  34. Slide 34: The Current Status of Fukushima Daiichi Nuclear Power Station and Future Initiatives

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

  35. Slide 35: Current Situation and Status of Units 1 through 4

    Current Situation and Status of Units 1 through 4 33 Spent fuel removal from Units 3 & 4 is complete. Started trial retrieval of fuel debris from Unit 2. Currently, preparation for Units 1 & 2 spent fuel removal and Units 1 & 3 fuel debris retrieval is being conducted. Please visit our website for l

  36. Slide 36: The Trial Retrieval of Fuel Debris from Unit 2

    The Trial Retrieval of Fuel Debris from Unit 2 34 The trial retrieval of fuel debris from Unit 2 was started on September 10, 2024, and was completed on November 7, 2024, with the retrieval of the fuel debris from the hatch on the side of the enclosure. The debris has begun to be analyzed at the JAE

  37. Slide 37: 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) 35 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 u

  38. Slide 38: Response Regarding the Handling of ALPS Treated Water

    TEPCO Holdings’ Response Regarding the Handling of ALPS Treated Water 36 Design of Required Equipment and ALPS Treated Water Discharge Plan Discharge into the sea was started in August 24, 2023 after building equipment to secure safety, confirming that ALPS treated water can be diluted as planned an

  39. Slide 39: Efforts to Compensate for Nuclear Damages - Amount of Compensation Paid

    Efforts to Compensate for Nuclear Damages - 1 Amount of Compensation Paid and Amount of Compensation to Be Paid 37 The amount of compensation paid as of the end of December 2024 was 11,461.8 billion yen. In addition to compensation so far, additional compensation based on the 5th Supplement to the I

  40. Slide 40: Efforts to Compensate for Nuclear Damages - Overview of Necessary Funds

    Efforts to Compensate for Nuclear Damages - 2 Overview of Necessary Funds 38 On December 22, 2023, the Japanese government’s Nuclear Emergency Response Headquarters decided on a strategy to raise the maximum limit on delivery bonds (From 13.5 trillion yen to 15.4 trillion yen for compensation, decon

  41. Slide 41: Secure 500 Billion Yen in Annual Funding for Fukushima

    （Reference）Secure 500 Billion Yen in Annual Funding to Fulfill Our Responsibilities to Fukushima 39 Status of raising 500 billion yen per year (Billion Yen) FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 ①Decommissioning Reserve Fund 391.3 361.1 280.4 260.0 260.1 270.0 260.1 ②Special Contributions

  42. Slide 42: Efforts to Increase Corporate Value

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

  43. Slide 43: Future Electricity Demand Projections in the TEPCO PG Area

    Future Electricity Demand Projections in the TEPCO PG Area 41 There has been increased interest in construction and expansion on data centers and semiconductor plants in FY2024 in response to METI’s revision of the “Semiconductor and Digital Industries Strategy” in June 2023. This is projected to ha

  44. Slide 44: Main Efforts to Increase Corporate Value -1

    Main Efforts to Increase Corporate Value -1 42 <TEPCO Holdings> October 17, 2024 TN Cross Corporation, which TEPCO Holdings, Inc. and NIPPON TELEGRAPH AND TELEPHONE CORPORATION., are jointly invested in, was selected by Kawasaki City, Kanagawa Prefecture as an operator of PV system deployment, and s

  45. Slide 45: Main Efforts to Increase Corporate Value -2

    Main Efforts to Increase Corporate Value -2 43 <TEPCO Power Grid> November 8, 2024 The joint proposal “Speeding up recovery activities through public-private collaboration” submitted with Tokyo Gas Network, Co., Ltd. and NIPPON TELEGRAPH AND TELEPHONE EAST CORPORATION., to the Cabinet Office's “New

  46. Slide 46: Enhancement of Responsibility to Fukushima

    Action to Implement Management That Is Conscious of Cost of Capital and Stock Price (Repost) 44 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 market

Tokyo Electric Power Company Holdings — Q3 FY2024 Earnings Presentation on 6ix