Tokyo Gas Co., Ltd. · TSE:9531
Tokyo Gas — Q1 FY2025 Earnings Presentation
27 slides from Tokyo Gas's earnings presentation, Jul 30, 2025
Slide 1: FY2025 1Q Financial Results
TSE:9531 FY2025 1Q Financial Results ended June, 2025 July 30, 2025 "E TOKYO GAS
Slide 2: Executive Summary
01 Executive Summary "E TOKYO GAS
Slide 3: Executive summary: ROE target, forecasts and balance sheet
This year, we have been working to achieve an 8% ROE. However, as we described in the revision to our financial result forecasts, we recognized a foreign currency translation adjustment gain associated with the resolution to wind up Tokyo Gas Australia Pty Ltd. as extraordinary profit. As a result,
Slide 4: Equity control and medium- to long-term ROE approach
our forecast for this year’s market and our financial performance becomes more certain. Our basic approach is not only to achieve the single-year ROE target, but also to implement equity control from a medium- to long-term perspective, with an eye on maintaining the upward trend of ROE in the next m
Slide 5: Financial Highlights
Financial Highlights 4 B FY2025 1Q Results (vs. FY2024 1Q Results): Profit attributable to owners of parent increased by 829 hundred million yen YoY due to higher sales in Energy solution and Overseas business segments, and extraordinary profit. Fy2024 19 (unit: 100 million yen) oo) change Main fact
Slide 6: Consolidated Financial Results
02 FY2025 Consolidated Financial Results ended June, 2025 "TTOKYO GAS
Slide 7: 1Q earnings saw an increase in sales and profit
Our 1Q earnings saw an increase in both sales and profit. Net sales increased by 605 hundred million yen. This was mainly due to an increase in the sales volume of electricity in the Energy solution segment and higher sales unit price in the Overseas business segment. Operating profit was 625 hundre
Slide 8: Net sales and segment profit by segment
Slide 7 shows net sales by segment and segment profit which is operating profit plus equity method profit/loss, and their changes. 7
Slide 9: Segment profit changes by business
The 302 hundred million profit increase in the Energy solution segment was primarily due to a 142 hundred million yen increase in the city gas business gross margin due to an increase in sales volume and time lag effect. The electricity business recorded an increase of 62 hundred million yen in prof
Slide 10: City gas sales volume increased by 2.1%
City gas sales volume increased by 2.1% in 1Q. While there was a decrease in wholesale volume resulting from a fall in demand from end customers, etc., demand from residential and commercial customers rose on the back of low temperatures around April. 9
Slide 11: Electricity sales volume increased by 18.6%
Electricity sales volume increased by 18.6% in 1Q. Retail electricity sales volume rose by 21.0%, and the sales volume to wholesale and others increased by 16.0%. 10
Slide 12: FY2025 Full Year Forecast
03 FY2025 Full Year Forecast "TTOKYO GAS 11
Slide 13: FY2025 full year forecast for profit attributable to owners
For the FY2025 full year, we forecast profit attributable to owners of parent to increase by 490 hundred million yen to 1,830 hundred million yen, reflecting the 680 hundred million yen of a foreign currency translation adjustment gain associated with the resolution to wind up Tokyo Gas Australia Pt
Slide 14: Forecast: operating profit by business segment
vs. Previous Forecast vs. FY2024 FY2025 Consolidated Full Year Forecast: Operating Profit/Loss by Business Segments (unit: 100 million yen) vs. Previous Forecast ae Segment Profit (as of April) (Operating rot +Ecuty income /oss of subsidiaries) Pramas Pevous Foust oa, Fe Frais Prevoa Foot oa Fomcast
Slide 15: FY2025 Consolidated Forecast: Ordinary Profit Analysis
FY2025 Consolidated Forecast: Ordinary Profit Analysis (unit: 100 million yen) © City gas +131: Increase in city gas gross margin +131: Es Change in volume, etc. +116 (temperatures effect, etc) time lag effect +15 ten (Net sales) -595: Decrease in unit price due to resource costs adjustment, etc. |
Slide 16: Segment Information: Energy Solution
Segment Information: Energy Solution 15 B (unit: 100 million yen) Summary pyeoos Previous oe Forecast Forecast Change * Results ‘Change * as of Aor Et) 73.609 ° = Tae 75 3 at salen [am Taa06 aie o Sr) “2 [Becric Power eee cee ° = so we Segment Profit Cortina t+ Eat icon fabri = | - bead . 7 [fren ee
Slide 17: Forecast: Consolidated Gas Sales Volume / Number of Customers
City Gas sales volume: Expect steady progress, largely in line with the previous forecast, throughout the year (unit: mil.m?) FY2025 Full Year Forecast: Consolidated Gas Sales Volume/ Number of Customers 16 B 15,000 . Number of customers (City Gas), LNG sales volume vs. Previous Forecast — — ee +0 m
Slide 18: FY2025 Full Year Forecast: Consolidated Electricity Sales Volume
FY2025 Full Year Forecast: Consolidated Electricity Sales Volume 17 B Electricity sales volume: Expect steady progress, largely in line with the previous forecast, throughout the year unit: mil. kWh: 30,000 27,582 vs. Previous Forecast 25,000 £0 mil. kWh 23.440 -) 20,000 * Retail Sales vs. FY2024 Re
Slide 19: Segment Information: Network
Segment Information: Network Summary (unit: 100 million yen) Previous Fyeaes Forecast Change % FY202b change * Forecast Results (as of April) Net sales 3371 3371 0 00 3278 3 28 ‘Segment Profi ment Profit 5 5 o 00 1 36 - (Operating profit + Equity method profit/loss) ‘Segment Assets 6220 6.220 0 00 6
Slide 20: Segment Information: Overseas business
Segment Information: Overseas business 19 B (unit: 100 million yen) Previous Summar Fraws rvacae y rm BE eg veces of Aor Wet sales o m 7812 32 ED (Coren oom + Coty tet een a om ° 20 eg an Soument Assets nwo 1 ° oo 71985 73 60 ROA Ge) a my = rT) 30 = Depreciation"? = = ° oo oy 2 38 Capital Expenditur
Slide 21: Segment Information: Urban Development
Segment Information: Urban Development 20 (unit: 100 million yen) Summary fo Peeve os fewer Net aaes™ Toa aio &2 010) OW TO Teme) GIO 69 GB) [Real estate sales 214 (490) 214 (490) 0 (0) 0 (0) 190 (210) 24 (280) 12.2 (132.7) ‘Segment Profit™® (Operating profit + Total 125 (343) 125 (343) 0@ 0) 240 (2
Slide 22: Segment ROA forecast for FY2025
This slide shows our segment ROA forecast for FY2025 compared to our FY2024 results. 21
Slide 23: Investment plans of the medium-term management plan
This slide shows the details of investment plans of our medium-term management plan, which covers the period from FY2023 to FY2025. These are also unchanged from the previous forecast announced in April. 22
Slide 24: Reference materials
Reference materials include the economic frame sensitivity table, crude oil prices and exchange rates, and information on major overseas projects. 23
Slide 25: Gas Gross Margin Sensitivity to Crude Oil Price and Exchange Rate
Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate 24 B Impact of rising JCC (Gapan Crude Cocktail Prices) by $1/bbl Impact on earnings (unit: 100 milion yen 2Q 3Q 4Q Full year 2Q -2 -6 +5 -3 Period ats — “ * at 4Q = = -1 ol Full year -2 -8 -4 -14 Impact of depreciation of t
Slide 26: Crude oil price - Exchange rate
Crude oil price - Exchange rate Crude oil price (Japan Crude Cocktail Prices) ($/bbI) 120.00 110.00 100.00 90.00 80.00 70.00 60.00 50.00 40.00 ef ss se a oF ¥2025 ee F202 mem FY2023 a Exchange rate (¥/$) 160.00 155.00 150.00 145.00 —e-—— 140.00 135.00 130.00 125.00 120.00 ys oF ¥2025 ee FY2024 em rY
Slide 27: Overseas Projects
Overseas Projects Area No Country Subject Main Business Participation year TG Natural Resources ‘Shale gas TGES America Energy Service Birdsboro Natural gas power NothAmerca @ usA a Solar power Longbow Battery Energy Storage System {ARM Energy Holdings Marketing and Trading e Mexico Ballo Natural ge