Tokyo Electric Power Company Holdings, Incorporated · TSE:9501

Tokyo Electric Power — Q1 FY2023 Earnings Presentation

47 slides from Tokyo Electric Power's earnings presentation, Aug 2, 2023

Slide 1: FY2023 1st Quarter Financial Results (April 1 – June 30, 2023)
FY2023 1st Quarter Financial Results (April 1 – June 30, 2023) Tokyo Electric Power Company Holdings, Inc. ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.
Slide 3: Overview of FY2023 1st Quarter Financial Results
Overview of FY2023 1st Quarter Financial Results (Released on August 2, 2023) (Note) Please note that the following is an accurate and complete translation of the original Japanese version prepared for the convenience of our English-speaking investors. In case of any discrepancy between the translat
Slide 4: Key Points of FY2023 1st Quarter Financial Results
Key Points of FY2023 1st Quarter Financial Results 1 <FY2023 1st Quarter Financial Results> ➢ Operating revenue increased due to an increase* in fuel cost adjustments. *Includes 130.7 billion yen of subsidies provided through government measures to alleviate sudden fluctuations in electricity prices
Slide 5: 1. Consolidated Financial Results
1. Consolidated Financial Results 2 (Unit: Billion Yen) FY2023 FY2022 Comparison Apr-Jun (A) Apr-Jun (B) (A)-(B) (A)/(B) (%) Operating Revenue ※１ 1,615.1 1,534.1 +81.0 105.3 Operating Income/Loss 151.1 -44.2 +195.4 - Ordinary Income/Loss ※２ 233.1 -30.0 +263.2 - Extraordinary Income/Loss -50.3 -25.2
Slide 6: (Reference) Key Factors Affecting Performance
(Reference) Key Factors Affecting Performance 3 Area demand (Unit: Billion kWh) FY2023 FY2022 Comparison Apr-Jun(A) Apr-Jun(B) (A)-(B) (A)/(B) (%) Area demand 57.3 60.8 -3.5 94.2 Foreign Exchange Rate/CIF FY2023 FY2022 (A)-(B) Apr-Jun(A) Apr-Jun(B) Foreign Exchange rate (Interbank,yen/dollar) 137.5
Slide 7: 2. Overview of Each Company
2. Overview of Each Company 4 (Unit: Billion Yen) FY2023 FY2022 Comparison Apr-Jun (A) Apr-Jun (B) (A)-(B) (A)/(B) (%) Operating Revenue ※1 1,615.1 1,534.1 +81.0 105.3 TEPCO Holdings (HD) 152.2 131.1 +21.1 116.1 TEPCO Fuel & Power (FP) 0.9 0.9 -0.0 99.1 TEPCO Power Grid (PG) ※1 485.2 586.6 -101.4 82
Slide 8: 3. Points of Each Companies
3. Points of Each Companies 5 ➢ HD :Ordinary income increased due mainly to an increase in received dividends from core operating companies. ➢ FP :Ordinary income increased due mainly to a positive turn in the effects of the time-lag from the fuel cost adjustment system at JERA. ➢ PG：Ordinary income
Slide 9: 4. Consolidated Extraordinary Income/Loss
4. Consolidated Extraordinary Income/Loss 6 (Unit: Billion Yen) FY2023 FY2022 Comparison Apr-Jun Apr-Jun Extraordinary Income - - - Extraordinary Loss 50.3 25.2 +25.0 Expenses for Nuclear Damage Compensation ※ 50.3 25.2 +25.0 Extraordinary Income/Loss -50.3 -25.2 -25.0 ※ Extended estimation period a
Slide 10: 5. Consolidated Financial Position
5. Consolidated Financial Position 7 ➢ Total assets balance increased by 248.8 billion yen due mainly to an increase in current assets. ➢ Total liabilities balance increased by 52.9 billion yen due mainly to increases in short-term loans. ➢ Total net assets balance increased by 195.8 billion yen due
Slide 11: (Reference) Year-on-Year Comparisons for TEPCO Holdings
(Reference) Year-on-Year Comparisons for TEPCO Holdings 8 Ordinary income/loss Profit Structure (Units: Billion Yen) Profit is dividend income, decommissioning charges profit, management consultation fees, wholesale Others Year-on-Year power sales of nuclear power, etc. -5.9 +32.5 Increase in receiv
Slide 12: (Reference) Year-on-Year Comparisons for TEPCO Fuel & Power
(Reference) Year-on-Year Comparisons for TEPCO Fuel & Power 9 Ordinary income/loss Impact of Profit Structure (Units: Billion Yen) decrease in coal prices Main profit is profit of entities accounted for using (valuation equity method, such as generation business at loss, etc) JERA. Fuel Ordinary inc
Slide 13: (Reference) Year-on-Year Comparisons for TEPCO Power Grid
(Reference) Year-on-Year Comparisons for TEPCO Power Grid 10 Ordinary income/loss (Units: Billion Yen) Decrease in Profit Structure electricity procurement Operating revenue is mainly transmission revenue, ・Include approx. -1.0 increase electricity procurement expenses expenses and this is fluctuate
Slide 14: (Reference) Year-on-Year Comparisons for TEPCO Energy Partner
(Reference) Year-on-Year Comparisons for TEPCO Energy Partner 11 Ordinary income/loss Profit Structure (Units: Billion Yen) Operating revenue is mainly electricity sales revenue, and this is fluctuated by electricity sales volume. Impact of Expenses are mainly power purchasing costs and Electricity
Slide 15: (Reference) Year-on-Year Comparisons for TEPCO Renewable Power
(Reference) Year-on-Year Comparisons for TEPCO Renewable Power 12 Ordinary income/loss (Units: Billion Yen) Profit Structure Profit is mainly wholesale power sales of hydroelectric and new energies. Increase in Expenses is mainly for depreciation and repairs. wholesale power sales, etc. Year-on-Year
Slide 17: Table of Contents
Table of Contents Status of response to address the series of incidents including a nuclear Financial Results Detailed Information material protection incident Nuclear reform measures Consolidated Statements of Income 13 22 The status of Grants–in-aid from Nuclear Damage Compensation and 14 Response
Slide 19: Consolidated Statements of Income
Consolidated Statements of Income 13 (Unit: Billion Yen) FY2023 FY2022 Comparison Apr-Jun(A) Apr-Jun(B) (A)-(B) (A)/(B) (%) Operating Revenue ※1 1,615.1 1,534.1 81.0 105.3 Operating Expenses ※1 1,464.0 1,578.3 -114.3 92.8 Operating Income / Loss 151.1 -44.2 195.4 － Non-operating Revenue ※2 104.0 27.
Slide 20: 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 Facilitation 14 Corporation and Expenses for Nuclear Damage Compensation (Unit: Billion Yen) FY2023 Cumulative Item FY2010 to FY2022 Apr-Jun Amount ◇Grants-in-aid from Nuclear Damage Compensation and Decommissioning Fac
Slide 21: Consolidated Balance Sheets
Consolidated Balance Sheets 15 (Unit: Billion Yen) Jun. 30 Mar. 31 Comparison <Interest-bearing debt outstanding> (Unit: Billion Yen) 2023 (A) 2023 (B) (A)-(B) (A)/(B) (%) Jun. 30 Mar. 31 (A)-(B) 2023 (A) 2023 (B) Total Assets 13,811.9 13,563.0 248.8 101.8 Bonds 3,369.6 3,400.4 △30.7 Long-term Debt
Slide 22: Key Factors Affecting Performance
Key Factors Affecting Performance 16 ※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 consolidated (EP/TCS/PinT), PG (including inter-regional), and RP consolidated (RP/Tokyo Electric
Slide 23: Seasonal Breakdown of Retail Electricity Sales Volume and Total Power Generated
Seasonal Breakdown of Retail Electricity Sales Volume and Total Power Generated 17 Retail Electricity Sales Volume（EP consolidated） Unit: Billion kWh FY2023 Apr May Jun Apr-Jun Lighting 4.21 3.69 3.61 11.51 Power 9.82 10.00 11.12 30.94 Total 14.03 13.69 14.73 42.45 FY2022 [Ref.]Year-on-year Apr May
Slide 24: Schedules for Public Bond Redemption
Schedules for Public Bond Redemption 18 Amount at Maturity (As of Jun. 30 2023) (Billion Yen) TEPCO Public Bond TEPCO Power Grid Public Bond TEPCO Renewable Power Public Bond 160.0 (FY) Note: The amount redeemed for Apr. - Jun. of fiscal 2023 totaled 150.0 billion yen. ©Tokyo Electric Power Company
Slide 26: Approval of the regulated rate increases
Approval of the regulated rate increases 19 ✓ On January 23 of this year, TEPCO Energy Partner applied for approval of changes to the Specified Retail Supply General Provisions for Retail Supply (regulated rates). Upon receiving the application, the METI Minister requested that we recalculate the co
Slide 27: 2023 TEPCO Energy Savings Program
2023 TEPCO Energy Savings Program 20 ✓ In FY2022, in addition to providing electricity stably, TEPCO Energy Partner implemented the 2022 TEPCO Energy Savings Program to reduce the burden on customers by assisting them in conserving electricity, which led to energy savings of approx. 2.5 billion kWh
Slide 28: Services in the 2023 TEPCO Energy Savings Program
Services in the 2023 TEPCO Energy Savings Program 21 Households Corporations ①Assist in introducing energy saving/energy creating equipment ①Assist in introducing energy saving/energy creating equipment • Present customers who introduce solar panels and storage batteries as part • Subsidize a part o
Slide 29: Status of response to address the series of incidents including a nuclear material protection incident
Status of response to address the series of incidents including a nuclear material protection incident ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.
Slide 30: Nuclear reform measures
Status of response to address the series of incidents including a nuclear material protection incident 22 Nuclear reform measures ✓ Initiatives outlined in the Report on Improvement Measures for the Inappropriate Use of ID Cards and the Partial Loss of Function of the Physical Protection Equipment a
Slide 31: Response to the Four Challenges (1) Realize normal monitoring
Status of response to address the series of incidents including a nuclear material protection incident 23 Response to the Four Challenges (1) Realize normal monitoring ＜Inspection findings identified in the additional inspection＞ ① Concrete actions to address the unmet goal in reducing the number of
Slide 32: Response to the Four Challenges (2) Realize effective PPCAP
Status of response to address the series of incidents including a nuclear material protection incident Response to the Four Challenges (2) Realize effective PPCAP 24 ＜ Inspection findings identified in the additional inspection ＞ ① CRs not being written up for every single finding and not enough inf
Slide 33: Response to the Four Challenges (3) Implement improve change management
Status of response to address the series of incidents including a nuclear material protection incident Response to the Four Challenges (3) Implement improve change management 25 ＜ Inspection findings identified in the additional inspection ＞・While there were hold points for performing impact assess
Slide 34: Response to the Four Challenges (4) Implement measures through effective behavioral observations
Status of response to address the series of incidents including a nuclear material protection incident Response to the Four Challenges (4) Implement measures that are not just temporary through effective behavioral observations 26 ＜Concrete actions＞ ① Persons with expertise in physical protection ar
Slide 35: Initiatives to further improve station safety
Status of response to address the series of incidents including a nuclear material protection incident Initiatives to further improve station safety 27 ✓ To spread and establish the need for continuous improvement within the whole station, findings from our efforts to strengthen security were develo
Slide 36: General inspections after discovering partially incomplete safety measure renovations
General inspections implemented after discovering partially incomplete safety measure renovations 28 Progress in the safety measures work at Kashiwazaki Kariwa Nuclear Power Station ✓ The initial comprehensive inspection in response to the incomplete safety measures work at Kashiwazaki-Kariwa NPS wa
Slide 37: The Current Status of Fukushima Daiichi Nuclear Power Station and Future Initiatives
The Current Status of Fukushima Daiichi Nuclear Power Station and Future Initiatives ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.
Slide 38: Current Situation and Status of Units through Main decommissioning work and steps
Current Situation and Status of Units 1 through 4 29 ✓ Spent fuel removal from Units 3 & 4 is complete. ✓ Currently, preparation for Units 1 & 2 spent fuel removal and Units 1-3 fuel debris retrieval is being conducted. Main decommissioning work and steps ✓Please visit our website for latest informa
Slide 39: 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) 30 *To accommodate the effects of COVID-19 and to ensure the safety and reliability of the work, Maintain Overall Framework of Decommissioning Schedule the trial removal was rescheduled to start in the second hal
Slide 40: Fuel Debris Retrieval Schedule and Process
Fuel Debris Retrieval Schedule and Process Based upon the Mid-to-Long Term Decommissioning Implementation Plan 2023 31 ✓ The Decommissioning Long-term Implementation Plan 2023 was published on March 30, 2023 with the progress made in decommissioning work and new challenges identified in FY2022. ✓ Re
Slide 41: Contaminated Water Measures
Contaminated Water Measures 32 ✓ Progress is being made on the three contaminated water initiatives detailed in the 5th revision of the Mid-and-long-term Roadmap (December 2019). (1) Initiative to promote contaminated water measures following the three basic policies (1) Remove the contamination sou
Slide 42: Response Regarding the Handling of ALPS Treated Water – 1
TEPCO Holdings’ Response Regarding the Handling of ALPS Treated Water – 1 TEPCO Holdings’ Approach to the Discharge of ALPS Treated Water 33 ✓ The “Basic Policy on handling of ALPS treated water at the Tokyo Electric Power Company Holdings’ Fukushima Daiichi Nuclear Power Station” (hereinafter gover
Slide 43: Response Regarding the Handling of ALPS Treated Water – 2
TEPCO Holdings’ Response Regarding the Handling of ALPS Treated Water – 2 Status of Review Regarding Design and Operation of Necessary Facilities and Plan 34 ✓ In August 2021, we published where we stood at the time on our discussions on handling of ALPS treated water. In December of the same year,
Slide 44: Efforts to compensate for nuclear damages
Efforts to compensate for nuclear damages 35 ✓ The amount of damages paid as of the end of June 2023 was 10,776.6 billion yen. ✓ We started receiving applications for additional compensation based on the 5th Supplement to the Interim Guideline. Mar. 22, 2023 ＜Amount of compensation paid and amount o
Slide 46: Main Efforts to Increase Corporate Value -1
Main Efforts to Increase Corporate Value -1 36 <TEPCO Holdings> April 27,2023 Odakyu Electric Railway Co., Ltd., Idemitsu Kosan, Ltd. and TEPCO HD announced that they will be collaborating to realize regional decarbonization led by the Odakyu Group. May 29,2023 Toyota Motor Corporation and TEPCO HD
Slide 47: Main Efforts to Increase Corporate Value -2
Main Efforts to Increase Corporate Value -2 37 <TEPCO Energy Partner> April 21,2023 Kawasaki-shi, Asahi Tanker, and TEPCO EP started the commercial operation of Akari, the second carbon free EV tanker in the world, to build a shipping infrastructure service and create a cyclical and sustainable soci

Tokyo Electric Power Company Holdings — Q1 FY2023 Earnings Presentation on 6ix

Tokyo Electric Power — Q1 FY2023 Earnings Presentation

Slide 1: FY2023 1st Quarter Financial Results (April 1 – June 30, 2023)

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

Slide 3: Overview of FY2023 1st Quarter Financial Results

Slide 4: Key Points of FY2023 1st Quarter Financial Results

Slide 5: 1. Consolidated Financial Results

Slide 6: (Reference) Key Factors Affecting Performance

Slide 7: 2. Overview of Each Company

Slide 8: 3. Points of Each Companies

Slide 9: 4. Consolidated Extraordinary Income/Loss

Slide 10: 5. Consolidated Financial Position

Slide 11: (Reference) Year-on-Year Comparisons for TEPCO Holdings

Slide 12: (Reference) Year-on-Year Comparisons for TEPCO Fuel & Power

Slide 13: (Reference) Year-on-Year Comparisons for TEPCO Power Grid

Slide 14: (Reference) Year-on-Year Comparisons for TEPCO Energy Partner

Slide 15: (Reference) Year-on-Year Comparisons for TEPCO Renewable Power

Slide 16: Supplemental Material

Slide 17: Table of Contents

Slide 18: FY2023 1st Quarter Financial Results Detailed Information

Slide 19: Consolidated Statements of Income

Slide 20: Grants-in-aid from Nuclear Damage Compensation and Decommissioning Facilitation Corporation and Expenses

Slide 21: Consolidated Balance Sheets

Slide 22: Key Factors Affecting Performance

Slide 23: Seasonal Breakdown of Retail Electricity Sales Volume and Total Power Generated

Slide 24: Schedules for Public Bond Redemption

Slide 25: Initiatives of TEPCO Energy Partner

Slide 26: Approval of the regulated rate increases

Slide 27: 2023 TEPCO Energy Savings Program

Slide 28: Services in the 2023 TEPCO Energy Savings Program

Slide 29: Status of response to address the series of incidents including a nuclear material protection incident

Slide 30: Nuclear reform measures

Slide 31: Response to the Four Challenges (1) Realize normal monitoring

Slide 32: Response to the Four Challenges (2) Realize effective PPCAP

Slide 33: Response to the Four Challenges (3) Implement improve change management

Slide 34: Response to the Four Challenges (4) Implement measures through effective behavioral observations

Slide 35: Initiatives to further improve station safety

Slide 36: General inspections after discovering partially incomplete safety measure renovations

Slide 37: The Current Status of Fukushima Daiichi Nuclear Power Station and Future Initiatives

Slide 38: Current Situation and Status of Units through Main decommissioning work and steps

Slide 39: Milestones and progress in the 5th revision of Mid-and-Long-Term Roadmap

Slide 40: Fuel Debris Retrieval Schedule and Process

Slide 41: Contaminated Water Measures

Slide 42: Response Regarding the Handling of ALPS Treated Water – 1

Slide 43: Response Regarding the Handling of ALPS Treated Water – 2

Slide 44: Efforts to compensate for nuclear damages

Slide 45: Other Initiatives

Slide 46: Main Efforts to Increase Corporate Value -1

Slide 47: Main Efforts to Increase Corporate Value -2