Tokyo Electric Power Company Holdings, Incorporated · TSE:9501

Tokyo Electric Power — Q1 FY2026 Earnings Presentation

44 slides from Tokyo Electric Power's earnings presentation, Jul 29, 2026

  1. Slide 1: FY2026 1st Quarter Financial Results (April 1 – June 30, 2026)

    FY2026 1st Quarter Financial Results (April 1 – June 30, 2026) 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 FY2026 1st Quarter Financial Results

    1 Overview of FY2026 1st Quarter Financial Results (Released on July 29, 2026) 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: 1. Consolidated Financial Results Summary

    1. Consolidated Financial Results Summary 2 【 Main Points of the FY2026 1st Quarter Financial Results 】 ➢ Operating Revenue increased mainly due to an increase in revenue related to supply and demand adjustment resulting from surging fuel and wholesale electricity market prices and other factors in

  5. Slide 5: (Ref.) Key Factors Affecting Financial Results

    (Ref.) Key Factors Affecting Financial Results 3 Electricity Sales Volume (Unit: Billion kWh) FY2026 FY2025 Comparison Apr–Jun (A) Apr–Jun (B) (A)-(B) (A)/(B) (%) Total Electricity Sales Volume 44.1 48.1 -4.0 91.6 Retail Electricity Sales Volume *1 34.4 38.6 -4.2 89.0 Wholesale Electricity Sales Vol

  6. Slide 6: 2. Overview of Each Company

    2. Overview of Each Company 4 (Unit: Billion Yen) FY2026 FY2025 Comparison Apr–Jun (A) Apr–Jun (B) (A)-(B) (A)/(B) (%) Operating Revenue 1,481.1 1,425.1 +56.0 103.9 TEPCO Holdings (HD) 220.8 165.7 +55.0 133.2 TEPCO Fuel & Power (FP) 0.7 0.9 -0.1 85.7 TEPCO Power Grid (PG) 592.8 517.7 +75.0 114.5 TEP

  7. Slide 7: 3. 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 an increase in profits from domestic thermal power and gas businesses, as well as overseas and renewable power generation businesses. ➢ PG: Ordinary

  8. Slide 8: 4. Consolidated Extraordinary Income (Loss)

    4. Consolidated Extraordinary Income (Loss) 6 (Unit: Billion Yen) FY2026 FY2025 Comparison Apr–Jun (A) Apr–Jun (B) (A)-(B) Extraordinary Income – – – Extraordinary Loss 15.6 954.9 -939.2 Extraordinary Loss on disaster – 903.0 -903.0 Expenses for Nuclear Damage Compensation* 15.6 51.9 -36.2 Extraordi

  9. Slide 9: 5. Consolidated Financial Position

    5. Consolidated Financial Position 7 ➢ Total assets balance decreased by ¥205.3 billion mainly due to a decrease in current assets, despite an increase in non-current assets. ➢ Total liabilities balance decreased by ¥211.4 billion mainly due to decreases in accounts payable and accrued expenses. ➢ T

  10. Slide 10: (Ref.) Year-on-Year Comparisons for TEPCO HD

    (Ref.) Year-on-Year Comparisons for TEPCO HD 89 Ordinary Income (Loss) Increase in (Unit: Billion Yen) profits: Increase in Profit structure wholesale 139.7 billion electricity sales FY2026 Profit includes dividend income, decommissioning and related subsidy income, management support fees, wholesal

  11. Slide 11: (Ref.) Year-on-Year Comparisons for TEPCO FP

    (Ref.) Year-on-Year Comparisons for TEPCO FP 10 9 Ordinary Income (Loss) Profit structure Main profit is share of profit (loss) of entities (Unit: Billion Yen) Excluding impact of timing differences accounted for using equity method, such as supply +41.2 Increase in and demand balance at JERA. profi

  12. Slide 12: (Ref.) Year-on-Year Comparisons for TEPCO PG

    (Ref.) Year-on-Year Comparisons for TEPCO PG 11 10 Ordinary Income (Loss) (Unit: Billion Yen) Profit structure Operating revenue is mainly transmission revenue, and this is fluctuated by area demand. Increase in costs related to supply Expenses are mainly for repairs expenses and FY2025 Decrease in

  13. Slide 13: (Ref.) Year-on-Year Comparisons for TEPCO EP

    (Ref.) Year-on-Year Comparisons for TEPCO EP 12 11 Profit structure Operating revenue is mainly from electricity charges and fluctuates Ordinary Income (Loss) with electricity sales volume. Expenses are mainly costs for purchased power and for third party’s (Unit: Billion Yen) Excluding impact of po

  14. Slide 14: (Ref.) Year-on-Year Comparisons for TEPCO RP

    (Ref.) Year-on-Year Comparisons for TEPCO RP 13 12 Ordinary Income (Loss) (Unit: Billion Yen) Profit structure Operating revenue is mainly wholesale electricity sales of hydroelectric and renewable energies. Increase in Expenses are mainly for depreciation and repair profits: expenses. Increase in 4

  15. Slide 15: (Ref.) Image of Timing Differences

    (Ref.) Image of Timing Differences 14 13 (Unit: Billion Yen) FY2024 FY2025 FY2026 Apr–Jun Apr–Jun Apr–Jun Ordinary Ordinary Ordinary Income (Loss) Income (Loss) Income (Loss) 102.2 101.2 11.4 Excluding Excluding Excluding impact of impact of impact of timing timing timing differences differences dif

  16. Slide 16: (Ref.) Spot Market Price Trends by Area

    （Ref.） Spot Market Price Trends by Area 14 *1 *1 Number of periods with prices of Number of periods with prices of 40 JPY/kWh or higher 50 JPY/kWh or higher FY2026 April May June Total April May June Total Hokkaido 7 2 1 10 3 – – 3 Tohoku 12 8 9 29 6 2 – 8 Tokyo 54 32 21 107 18 12 4 34 Chubu 17 12 5

  17. Slide 17: (Ref.) Trends in Interest-bearing Debt Balance

    (Ref.) Trends in Interest-bearing Debt Balance 15 (Billion Yen) (Ref.) June 30, (End of FY) 2026 * Figures up until FY2015 represent non-consolidated results of the former TEPCO, and figures from FY2016 onward reflect consolidated results ©Tokyo Electric Power Company Holdings, Inc. All Rights Reser

  18. Slide 18: (Ref.) Trends in Capital Expenditures & Depreciation

    (Ref.) Trends in Capital Expenditures & Depreciation 16 (Billion Yen) (FY) (Ref.) 【Planned】* 2026 Apr–Jun * Excerpt from "3. Plans for New Installations, Retirement, etc. of Facilities" in TEPCO Holdings’ Annual Securities Report for FY2025 ©Tokyo Electric Power Company Holdings, Inc. All Rights Res

  19. Slide 19: (Ref.) Trends in Free Cash Flow (FCF)

    (Ref.) Trends in Free Cash Flow (FCF) 17 (Billion Yen) (FY) ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  20. Slide 20: Supplemental Material

    21 18 Supplemental Material ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  21. Slide 21: Table of Contents

    Table of Contents 22 19 Financial Results Detailed Information Current Status of Fukushima Daiichi NPS and Future Initiatives Consolidated Statements of Income 21 Current Situation and Status of Units 1 through 4 32 The status of Grants–in-aid from Nuclear Damage Compensation and 22 ALPS Treated Wat

  22. Slide 22: FY2026 1st Quarter Financial Results Detailed Information

    17 20 FY2026 1st Quarter Financial Results Detailed Information ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  23. Slide 23: Consolidated Statements of Income

    Consolidated Statements of Income 18 21 (Unit: Billion Yen) FY2026 FY2025 Comparison Apr–Jun (A) Apr–Jun (B) (A)-(B) (A)/(B) (%) Operating Revenue 1,481.1 1,425.1 56.0 103.9 Operating Expenses 1,515.4 1,360.4 155.0 111.4 Operating Income (Loss) -34.2 64.6 -98.9 － Non-operating Income 89.7 61.9 27.7

  24. Slide 24: 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 22 Facilitation Corporation and Expenses for Nuclear Damage Compensation (Unit: Billion Yen) FY2026 Cumulative Item FY2010 to FY2025 Apr–Jun Amount ◇Grants-in-aid from Nuclear Damage Compensation and Decommissioning

  25. Slide 25: Consolidated Balance Sheets

    Consolidated Balance Sheets 20 23 (Unit: Billion Yen) <Interest-bearing debt balance> (Unit: Billion Yen) June 30 Mar 31 Comparison Jun 30 Mar 31 (A)-(B) 2026 (A) 2026 (B) (A)-(B) (A)/(B) (%) 2026 (A) 2026 (B) Bonds 3,601.0 3,541.0 60.0 Total Assets 15,370.2 15,575.6 -205.3 98.7 Long-term Debt 101.9

  26. Slide 26: Key Factors Affecting Performance

    Key Factors Affecting Performance 21 24 *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

  27. Slide 27: Monthly Trends in Retail Electricity Sales Volume and Power Generation Volume

    Monthly Trends in Retail Electricity Sales Volume and Power Generation Volume 28 25 Retail Electricity Sales Volume (EP Consolidated) (Unit: Billion kWh) FY2026 Apr May Jun Apr–Jun Lighting 4.36 3.42 3.30 11.08 Power 7.42 7.54 8.24 23.20 Total 11.78 10.96 11.54 34.28 FY2025 [Ref.]Year-on-year Apr Ma

  28. Slide 28: Schedules for Public Bond Redemption

    Schedules for Public Bond Redemption 29 26 Amount at Maturity (As of June 30, 2026) (Billion Yen) TEPCO Public Bond TEPCO Power Grid Public Bond TEPCO Renewable Power Public Bond (FY) Note: The amount redeemed for Apr–Jun of FY2026 totaled ¥110.0 billion ©Tokyo Electric Power Company Holdings, Inc.

  29. Slide 29: Status of Kashiwazaki-Kariwa Nuclear Power Station (NPS)

    30 25 27 Status of Kashiwazaki-Kariwa Nuclear Power Station (NPS) ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  30. Slide 30: Construction Process of Specialized Safety Facility

    Construction Process of Specialized Safety Facility 32 28 ✓ The Specialized Safety Facility (SSF) is a backup facility designed to prevent damage to the reactor containment vessel against intentional acts, including a large aircraft crash into reactor buildings and other acts of terrorism. ✓ SSF has

  31. Slide 31: Communication with Local Communities

    Communication with Local Communities 34 29 ✓ Following the commencement of commercial operation of Unit6 at the Kashiwazaki-Kariwa NPS, TEPCO continues to carry out listening and public relations activities across Niigata Prefecture, focusing on providing clear explanations regarding “plant safety”,

  32. Slide 32: Contributing to Niigata Prefecture Through Financial Contributions

    Contributing to Niigata Prefecture Through Financial Contributions 36 30 ✓ On June 26, 2026, TEPCO and Niigata Prefecture signed a “Confirmation” regarding TEPCO’s financial contribution totaling approximately ¥100 billion to the prefecture to promote “the development of infrastructure that supports

  33. Slide 33: Current Status of Fukushima Daiichi NPS and Future Initiatives

    33 31 Current Status of Fukushima Daiichi Nuclear Power Station(NPS) and Future Initiatives ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  34. Slide 34: Current Situation and Status of Units 1 through 4

    Current Situation and Status of Units 1 through 4 34 32 ✓ Spent fuel removal from Units 3 and 4 was completed, spent fuel removal work is underway for Unit 2, and preparation work is underway for Unit 1. ✓ Trial retrieval of fuel debris (2nd time) from Unit 2 was completed, and preparation work is u

  35. Slide 35: ALPS Treated Water Discharge Results & Plans

    ALPS Treated Water Discharge Results & Plans 35 33 ✓ In FY2026, we plan 8 discharges, with an annual water discharge volume of approx. 62,400m3 and annual tritium discharge amount of approx. 11 trillion Bq. ✓ The 3rd discharge for FY2026 was completed by July 24, 2026. ✓ The dismantling of all 334 f

  36. Slide 36: 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) 36 34 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

  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 39 35 ✓ The amount of compensation paid as of the end of June 2026 was ¥11,726.2 billion. Mar. 22, 2022 ＜Amount of compensation paid and amount of compensation to be paid＞ 12,586.5 [The Fifth Plan] (+84.6) Mar. 3,

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

    (Ref.) Overview of Necessary Funds to Fulfill Our Responsibilities to Fukushima 36 40 ✓ On January 26, 2026, the Fifth Comprehensive Special Business Plan was approved. ✓ There are no changes to the outlook for the necessary funds and the allocation of cost recovery responsibilities to fulfill our r

  39. Slide 39: (Ref.) Status of Secured Funding for Fulfilling Our Responsibilities to Fukushima

    (Ref.) Status of Secured Funding for Fulfilling Our Responsibilities to Fukushima 41 37 Status of securing ¥500.0 billion per year (Billion Yen) FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 ①Decommissioning Reserve Fund 391.3 361.1 280.4 260.0 260.1 270.0 260.1 262.0 260.7 ②Special

  40. Slide 40: Efforts to Increase Corporate Value

    38 45 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 44 39 <TEPCO Holdings(HD)> April 14, 2026 The developers of the urban redevelopment project underway in Hibiya, Tokyo, have chosen an official name for the upcoming mixed-use district “HIBIYA CROSSPARK”. They have also created a logo and brand concept: “A

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

    Main Efforts to Increase Corporate Value –2 46 40 <TEPCO Energy Partner(EP)> April 1, 2026 Under an off-site physical corporate PPA concluded with Mitsui Fudosan Co., Ltd. and TOKYO DOME CORPORATION, TEPCO EP commenced the supply of renewable electricity generated from solar power to TOKYO DOME CITY

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

    Main Efforts to Increase Corporate Value –3 46 41 <TEPCO Renewable Power(RP)> April 10, 2026 TEPCO RP resumed commercial operation at the Uchiyama Power Station (Minamiashigara City, Kanagawa Prefecture) after completing replacement work.(Resumed on April 9, 2026) May 15, 2026 TEPCO RP commenced a d

  44. Slide 44: Enhancement of Responsibility

    Initiatives to Promote Management Conscious of Capital Cost and Stock Price (Re-presented) 47 42 ✓ To regain public trust and fulfill our responsibility to Fukushima, we will fully utilize management resources to maximize corporate value with a market-oriented approach, while maintaining the foundat

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