Tokyo Gas Co., Ltd. · TSE:9531

Tokyo Gas — FY2024 Earnings Presentation

31 slides from Tokyo Gas's earnings presentation, Apr 28, 2025

  1. Slide 1: FY2024 Financial Results

    TSE:9531 FY2024 Financial Results ended March, 2025 April 28, 2025

  2. Slide 2: Executive Summary

    01 Executive Summary Note:The consolidated results for FY2024 and FY2023 is disclosed in accordance with the application of Generally Accepted Accounting Principles in the U.S. (U.S. GAAP) from International Financial Reporting Standards (IFRS) by Tokyo Gas America and its consolidated subsidiaries

  3. Slide 3: Key Topics of FY2024 Consolidated Results

    Key Topics of FY2024 Consolidated Results 3 FY2024 Consolidated Results：Decline in sales and profits due to sliding time lag effect and one-time costs (+/- indicate impact on profit, 100 million yen) FY2024 FY2023 Change Main factors Drop in Energy Solution sales by decrease in unit price due to dro

  4. Slide 4: Key Topics of FY2025 Consolidated Forecast

    Key Topics of FY2025 Consolidated Forecast 4 FY2025 Consolidated Forecast：Rise in sales and profits due to higher profits from upstream projects overseas and sale of real estate holdings (+/- indicate impact on profit, 100 million yen) FY2025 FY2024 Change Main factors Net sales 27,540 26,368 1,172

  5. Slide 5: Action For Continuous Corporate Value Enhancement

    Action For Continuous Corporate Value Enhancement 5 Initiatives implemented of FY2024 Business portfolio management ・Steady increase in the number of retail electricity customers ・Strengthening our US shale gas business ・Real estate divestment ・Acceleration of sale of share cross-holdings （listed sh

  6. Slide 6: FY2024 Consolidated Financial Results

    02 FY2024 Consolidated Financial Results ended March, 2025 Copyright© TOKYO GAS Co., Ltd. All Rights Reserved.

  7. Slide 7: FY2024 Consolidated Results

    7 vs. FY2023 FY2024 Consolidated Results Sales, Interest, etc. (Apr. 1, 2024 –Mar. 31, 2025) (unit : 100 million yen) FY2024 FY2023 Change % Net sales 26,368 26,624 -256 -1.0 Operating profit 1,330 2,171 -841 -38.7 Segment profit (operating profit + equity 1,386 2,202 -816 -37.0 method profit/loss)

  8. Slide 8: FY2024 Results: Sales and Operating Profit/Loss by Business Segments

    8 vs. FY2023 FY2024 Results: Sales and Operating Profit/Loss by Business Segments (unit : 100 million yen) Segment Profit (Operating profit Net sales*3 Equity income/loss of subsidiaries) FY2024 FY2023 Change % FY2024 FY2023 Change % Energy solution*1 （including equity method 23,404 24,228 -824 -3.4

  9. Slide 9: FY2024 Results: Ordinary Profit Analysis

    9 vs. FY2023 FY2024 Results : Ordinary Profit Analysis  City gas -757 (unit : 100 million yen) Decrease in city gas gross margin -500 Change in volume, etc.-102 ,sliding time lag effect -398 (Net sales) -283:Change in volume, etc.-113, sliding time lag effect -170 Energy (Resource costs, etc.)-216:

  10. Slide 10: FY2024 Consolidated Gas Sales Volume/Number of Customers

    10 vs. FY2023 FY2024 Consolidated Gas Sales Volume/ Number of Customers City Gas sales volume: （ Unit： mil. ㎥） Number of customers(City Gas), LNG sales volume 12,000 -88mil.㎥ (-0.8%) 11,303 11,215 FY2024 FY2023 Change ◼Residential -61 mil.㎥(-2.2%) Number of customers (meters) 11.3 Temperature effect

  11. Slide 11: FY2024 Consolidated Electricity Sales Volume/Number of Customers

    11 vs. FY2023 FY2024 Consolidated Electricity Sales Volume/ Number of Customers Electricity sales volume： New electricity retail customers won by Tokyo Gas （ Unit：mil. kWh ） Cumulative (thousands) Quarter (thousands) -2,039mil. kWh 300 4,500 30,000 4,152 (-8.0%) 4,0224,077 3,975 25,479 3,871 4,000 3

  12. Slide 12: FY2025 Full Year Forecast

    03 FY2025 Full Year Forecast Copyright© TOKYO GAS Co., Ltd. All Rights Reserved.

  13. Slide 13: FY2025 Consolidated Forecast

    13 vs. FY2024 FY2025 Consolidated Forecast Sales, Interest, etc. (Apr. 1, 2025 – Mar. 31, 2026) (unit : 100 million yen) FY2025 FY2024 Change % Forecast Results Net sales 27,540 26,368 1,172 4.4 Operating profit 1,590 1,330 260 19.5 Segment profit (operating profit + equity 1,680 1,386 294 21.2 meth

  14. Slide 14: FY2025 Full Year Forecast: Operating Profit/Loss by Business Segments

    14 vs. FY2024 FY2025 Full Year Forecast: Operating Profit/Loss by Business Segments (unit : 100 million yen) Segment Profit (Operating profit Net sales*4 Equity income/loss of subsidiaries) FY2025 FY2024 Change % FY2025 FY2024 Change % Energy solution*1 （including equity method 23,699 23,404 295 1.3

  15. Slide 15: FY2025 Forecast: Ordinary Profit Analysis

    15 vs. FY2024 FY2025 Forecast : Ordinary Profit Analysis  City gas +131 (unit : 100 million yen) Increase in city gas gross margin +131 Change in volume, etc.(temperatures effect,etc.)+116 ,time lag effect +15 Energy (Net sales) -595:Decrease in unit price due to resource costs solution adjustment

  16. Slide 16: Segment Information: Energy solution

    Segment Information: Energy solution 16 Summary of Results (Unit: 100 million yen) FY2025 FY2024 Change % Net sales 23,699 23,404 295 1.3 City gas 14,196 16,164 -1,968 -12.2 Electric Power 6,698 5,981 717 12.0 Segment Profit 1,226 1,217 9 0.7 (Operating profit + Equity income/loss of subsidiaries) C

  17. Slide 17: FY2025 Forecast Consolidated Gas Sales Volume/Number of Customers

    17 vs. FY2024 FY2025 Full Year Forecast Consolidated Gas Sales Volume/ Number of Customers City Gas sales volume: 12,000 （ Unit： mil. ㎥） Number of customers(City Gas), LNG sales volume 11,215 Residential 11,024 FY2025 FY2024 Change VS. 2024 Results Number of customers (meters) 1,268.7 1,256.4 12.3 C

  18. Slide 18: FY2025 Forecast Consolidated Electricity Sales Volume

    18 vs. FY2024 FY2025 Full Year Forecast Consolidated Electricity Sales Volume Electricity sales volume： （ Unit：mil. kWh ） 30,000 27,582 VS. 2024 Results +4,142mil.㎥ (+17.7%) 25,000 23,440 Retail Sales 20,000 14,437 15,000 27,582 10,000 Wholesale etc. 5,000 9,003 0 FY2025 forecast FY2024 results *Eac

  19. Slide 19: Segment Information: Network

    Segment Information: Network 19 Summary of Results (Unit: 100 million yen) FY2025 FY2024 Change % Net sales 3,371 3,278 93 2.8 Segment Profit 5 -31 36 ― (Operating profit + Equity method profit/loss) Segment Assets 6,220 6,373 -153 -2.4 ROA（％） 0.1 -0.5 0.6 ― * Depreciation 961 984 -23 ― Capital Expe

  20. Slide 20: Segment Information: Overseas business

    Segment Information: Overseas business 20 Summary of Results FY2025 FY2024 Change % (Unit: 100 million yen) Net sales 2,354 1,812 542 29.9 Segment Profit 671 228 443 193.4 (Operating profit + Equity method profit/loss) Segment Assets 12,470 11,953 517 4.3 ROA（％） 5.5 1.9 3.6 ― Depreciation 893* 845 4

  21. Slide 21: Segment Information: Urban Development

    Segment Information: Urban Development 21 Summary of Results (Unit: 100 million yen) FY2025 FY2024 Change % Net sales *1 Total 832（1,108） 778（798） 54（310） 6.9（38.8） Real estate sales 214（490） 190（210） 24（280） 12.2（132.7） Segment Profit *1 (Operating profit + Equity Total 125（343） 240（254） -115（89） -

  22. Slide 22: Medium-term Management Plan Key figures

    Medium-term Management Plan (Announced: February 22, 2023） Key figures 22 FY2025 Forecast FY2024 FY2023 FY2025 備考 Results Results FY23-FY25 FY2025 Segment profits (operating profit + equity method 1,500 ― 1,680 1,386 2,202 profit/loss, 100 million yen) Net profit / Total assets (average of the ROA a

  23. Slide 23: FY2025 Plan (Consolidated) Segment ROA

    FY2025 Plan (Consolidated) Segment ROA 23 • As part of our actions for advancing business portfolio management, we have introduced a management approach based on individual ROA targets set for each internal company and core business subsidiary. • Segment ROA = segment profit (operating profit + equi

  24. Slide 24: Shareholder Returns

    Shareholder Returns 24 ・In FY2024, we provided not only returns based on our shareholder return policy, but also agile returns from the perspective of improving capital efficiency and properly controlling equity capital in order to achieve 8% ROE in FY2025 of the Medium-Term Management Plan. ・Divide

  25. Slide 25: Reference Materials

    Reference Materials Copyright© TOKYO GAS Co., Ltd. All Rights Reserved.

  26. Slide 26: Economic framework and Pension assets

    Economic framework and Pension assets 26 Economic framework Economic framework FY2025 FY2024 FY2023 Forecast Result Result 150.00 Exchange rate (¥/$) 152.62 144.58 (-2.62) 75.00 Crude oil price ($/bbl) 82.41 85.99 (-7.41) 16.5 Avg. air temp (℃) 17.6 17.5 (-1.1) Pension assets Pension assets FY2024 F

  27. Slide 27: Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate

    Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate 27 Impact of rising JCC（Japan Crude Cocktail Prices) by $1/bbl (Unit: 100 million yen) Impact on earnings 1Q 2Q 3Q 4Q Full year 1Q -1 -5 +4 +2 0 2Q ― -2 -6 +5 -3 Period 3Q ― ― -2 -8 -10 4Q ― ― ― -1 -1 Full year -1 -7 -4 -2 -

  28. Slide 28: Crude oil price・Exchange rate

    Crude oil price・Exchange rate 28 Crude oil price（Japan Crude Cocktail Prices） ($/bbl) 120.00 110.00 100.00 90.00 80.00 70.00 60.00 50.00 40.00 FY2024 FY2023 FY2022 Exchange rate (¥/$) 160.0 155.0 150.0 145.0 140.0 135.0 130.0 125.0 120.0 FY2024 FY2023 FY2022 Copyright© TOKYO GAS Co., Ltd. All Rights

  29. Slide 29: Realizing management mindful of capital costs and stock prices

    Realizing management mindful of capital costs and stock prices 29 [Progress of our actions] ＜PBR・PER＞ ＜ROA・ROE＞ *ROA, ROE before FY2023 is before retrospective application of the U.S. GAAP PBR PER （％） Achieve PBR of more than one early and 20.0 2.00 move to a higher level 30.00 20.0 1.80 18.0 25.00

  30. Slide 30: Overseas Projects

    Overseas Projects 30 9 1 2 4 5 7 3 6 8 Area No Country Subject Main Business Participation year Eagle Ford Upstream Shale gas 2016 TG Natural Resources Upstream Shale gas 2017 TGES America Downstream Energy Service 2015 1 U.S.A Birdsboro Downstream Natural gas power 2017 North America Aktina Downstr

  31. Slide 31: Cautionary Statement regarding Forward-looking Statements

    < Cautionary Statement regarding Forward‐looking Statements > Statements made in this presentation with respect to Tokyo Gas’s present plans, forecasts, strategies and beliefs, and other statements herein that are not expressions of historical fact are forward‐looking statements about the future per

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