Tokyo Electric Power Company Holdings, Incorporated · TSE:9501

Tokyo Electric Power — FY2020 Earnings Presentation

44 slides from Tokyo Electric Power's earnings presentation, Apr 28, 2021

  1. Slide 1: FY2020 Financial Results

    FY2020 Financial Results (April 1,2020 – March 31, 2021) 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 FY2020 Financial Results

    Overview of FY2020 Financial Results (Released on April 28, 2021) 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 facts but rath

  4. Slide 4: Key Points of FY2020 Financial Results

    Key Points of FY2020 Financial Results 1 < FY2020 Financial Results >  Operating revenue decreased due to a decrease in fuel cost adjustments and a decrease in the volume of electricity sold as a result of increased competition and the spread of COVID-19 and other factors.  Ordinary income decreas

  5. Slide 5: Consolidated Financial Results

    1. Consolidated Financial Results 2 (Unit: Billion kWh) FY2020 FY2019 Comparison (A) (B) (A)-(B) (A)/(B) (%) Total Electricity Sales Volume 231.5 245.5 -13.9 94.3 Retail Electricity Sales Volume ※1 204.7 222.5 -17.8 92.0 Wholesale Electricity Sales Volume ※2 26.8 23.0 3.8 116.6 (Unit: Billion Yen) F

  6. Slide 6: Points of Each Company

    2. Points of Each Company 3 <TEPCO Holdings>  Ordinary income decreased due to a decrease in wholesale power sales to TEPCO Energy Partner, Inc. and a decrease in received dividends from core operating companies, etc.  The deficit is the result of transient effects from the split-up of TEPCO Renew

  7. Slide 7: Overview of Each Company

    3. Overview of Each Company 4 (Unit: Billion Yen) FY2020 FY2019 Comparison (A) (B) (A)-(B) (A)/(B) (%) Operating Revenue 5,866.8 6,241.4 -374.5 94.0 TEPCO Holdings 624.2 ※ 741.8 -117.5 84.2 TEPCO Fuel & Power 8.7 9.7 -0.9 90.4 TEPCO Power Grid 2,003.8 1,759.8 244.0 113.9 TEPCO Energy Partner 5,034.3

  8. Slide 8: Consolidated Extraordinary Income/Loss

    4. Consolidated Extraordinary Income/Loss 5 (Unit: Billion Yen) FY2020 FY2019 Comparison (A) (B) (A)-(B) Extraordinary Income 142.1 414.9 -272.7 Grants-in-Aid from the Nuclear Damage Compensation and Decommissioning Facilities Corporation. 142.1 101.6 40.4 Other - ※2 313.2 -313.2 Extraordinary Loss

  9. Slide 9: Major impact on earnings from the tight supply and demand situation

    5．Major impact on earnings from the tight supply and demand situation 6  The tight supply and demand situation this past winter had a limited impact on consolidated earnings despite the large impact it had on each individual factor. （Unit: Billion Yen) Recovery Downturn Total impact impact impact I

  10. Slide 10: Consolidated Financial Position

    6. Consolidated Financial Position 7  Total assets balance increased by 135.3 billion yen primarily due to increases in accounts receivable and unearned income.  Total liabilities balance decreased by 90.6 billion yen primarily due to decrease in accounts payable and accrude expenses. Total net a

  11. Slide 11: Key Factors Affecting Performance

    <Reference> Key Factors Affecting Performance 8 Area Demand (Unit: Billion kWh) Comparison FY2020 (A) FY2019 (B) (A)–(B) (A)/(B) (％) Area Demand 266.3 269.8 -3.5 98.7 Foreign Exchange Rates/CIF FY2020 (A) FY2019 (B) (A)–(B) Foreign Exchange Rate 106.1 108.7 -2.6 (Interbank,yen/dollar) Crude Oil Pric

  12. Slide 12: Consolidated Year-on-Year performance comparison ①

    <Reference> Consolidated Year-on-Year performance comparison ① ~Increases/Decreases chart~ 9 Power supply and demand, Others +13.8 Ordinary income/loss and transmission revenue -87.9 (Units: Billion Yen) Decrease in Related to sales(After deduct renewable energy ) Related to Area demand Profits:74.1

  13. Slide 13: Consolidated Year-on-Year performance comparison ②

    <Reference> Consolidated Year-on-Year performance comparison ② ~Figures~ 10 （Units: Billion yen) FY2020 (A) FY2019 (B) (A)-(B) Ordinary Income 189.8 264.0 -74.1 Power supply and demand, and transmission 1,861.9 1,949.9 -87.9 revenue Retail electricity sales ※1 2,215.2 2,797.0 -581.8 Wholesale electr

  14. Slide 14: Year-on-Year Comparisons for TEPCO Holdings

    <Reference> Year-on-Year Comparisons for TEPCO Holdings 11 Ordinary income/loss (Units: Billion yen) Profit Structure Profit is dividend income, decommissioning charges profit, management consultation fees, wholesale power sales of nuclear power, etc. Decrease in received dividends -44.3 Year-on-Yea

  15. Slide 15: Year-on-Year Comparisons for TEPCO Fuel & Power

    <Reference> Year-on-Year Comparisons for TEPCO Fuel & Power 12 Ordinary income/loss Profit Structure (Units: Billion Yen) Worsening of Main profit is profit of entities accounted for using Impact other income and from equity method, such as generation business at expenditure worsening JERA. -1.3 of

  16. Slide 16: Year-on-Year Comparisons for TEPCO Power Grid

    <Reference> Year-on-Year Comparisons for TEPCO Power Grid 13 Ordinary income/loss Profit Structure (Units: Billion Yen) Tight supply/demand Operating revenue is mainly transmission revenue, and this is Approx. ＋10.0 fluctuated by area demand. Expenses is mainly for repairs and depreciation costs of

  17. Slide 17: Year-on-Year Comparisons for TEPCO Energy Partner

    <Reference> Year-on-Year Comparisons for TEPCO Energy Partner 14 Ordinary income/loss Profit Structure (Units: Billion Yen) Operating revenue is mainly electricity sales revenue, and this is fluctuated by electricity sales volume. Expenses are mainly power purchasing costs and transmission fees of c

  18. Slide 18: Year-on-Year Comparisons for TEPCO Renewable Power

    <Reference> Year-on-Year Comparisons for TEPCO Renewable Power 15 Ordinary income/loss (Units: Billion Yen) Profit Structure Others Profit is mainly wholesale power sales of hydroelectric and new energies. -9.1 Expenses is mainly for depreciation and repairs. Flow rate （Unit：％） Increase in FY2019 FY

  19. Slide 19: Supplemental Material

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

  20. Slide 20: Table of Contents

    Table of Contents Response Policy for the Recent Series of Events Financial Results Detailed Information Including Those Related to Physical Protection Consolidated Statements of Income 16 Recent Events and Steps Going Forward The status of Grants–in-aid from Nuclear Damage Compensation and 17 Overv

  21. Slide 21: FY2020 Financial Results Detailed Information

    FY2020 Financial Results Detailed Information ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  22. Slide 22: Consolidated Statements of Income

    16 Consolidated Statements of Income (Unit: Billion Yen) Comparison FY2020(A) FY2019(B) (A)-(B) (A)/(B) (%) Operating Revenue 5,866.8 6,241.4 -374.5 94.0 Operating Expenses 5,723.3 6,029.5 -306.2 94.9 Operating Income / Loss 143.4 211.8 -68.3 67.7 Non-operating Revenue 108.2 107.4 0.7 100.7 Investme

  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 17 (Unit: Billion Yen) Cumulative Item FY2010 to FY2019 FY2020 Amount ◇Grants–in-aid from Nuclear Damage Compensation and Decommissioning Facilitatio

  24. Slide 24: Consolidated Balance Sheets

    Consolidated Balance Sheets 18 (Unit: Billion Yen) <Interest-bearing debt outstanding> (Unit: Billion Yen) Mar 31 Mar. 31 Comparison Mar. 31 Mar. 31 (A)-(B) 2021 (A) 2020 (B) (A)-(B) (A)/(B) (%) 2021 (A) 2020 (B) Total Assets 12,093.1 11,957.8 135.3 101.1 Bonds 2,705.4 2,214.6 490.7 Long-term Debt 2

  25. Slide 25: Consolidated Statements of Cash Flows

    Consolidated Statements of Cash Flows 19 (Unit: Billion Yen) Comparison FY2020 (A) FY2019 (B) (A)-(B) Cash flow from operating activities 239.8 323.4 -83.6 Income / loss before income taxes 190.3 69.2 121.1 Depreciation and amortization 412.0 422.4 -10.4 Increase (decrease) in decommissioning reserv

  26. Slide 26: Overview of Consolidated Cash Flows

    Overview of Consolidated Cash Flows - Year on Year Comparison 20 Cash and cash equivalents as of March 31, 2021 decreased 357.8 billion yen to 454.3 billion yen. - Cash flow from operating activities increased 239.8 billion yen mainly due to income before income taxes and minority interests - Cash f

  27. Slide 27: Key Factors Affecting Performance

    Key Factors Affecting Performance 21 ※１ Total of EP consolidated (EP/TCS/PinT) and PG (islands, etc.) 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 Generation)

  28. Slide 28: Seasonal Breakdown of Retail Electricity Sales Volume and Total Power Generated

    Seasonal Breakdown of Retail Electricity Sales Volume and Total Power Generated 22 Retail Electricity Sales Volume（EP consolidated） Unit: Billion kWh FY2020 Apr-Sep Oct-Dec Jan Feb Mar Jan-Mar Full year Lighting 31.51 14.66 7.74 7.19 5.89 20.82 66.99 Power 71.00 33.04 11.42 11.19 10.85 33.46 137.50

  29. Slide 29: Gas Supply Business

    Gas Supply Business 23 Sales Volume Revenues (Million ton) (Billion yen) (FY) * April 2017~ Full liberalization of gas market <FY2020 Actual Performance> Revenues: Recorded 142.6 billion yen, down 19.7 billion yen YoY as a result of a decrease in the amount of commercial gas sold due to the pandemic

  30. Slide 30: Feed-in Tariff Scheme for Renewable Energy

    Feed-in Tariff Scheme for Renewable Energy 24 （FY2020 ) Avoidable Cost 153.7 billion yen * Renewable Subsidy Purchase Cost Energy 484.3 billion yen 638.0 billion yen Generators Cost Bearing Adjustment (Recorded as (Recorded as Power Organization Other Revenues) Purchasing Costs) (Green Investment TE

  31. Slide 31: Schedules for Public Bond Redemption

    Schedules for Public Bond Redemption 25 Amount at Maturity (As of Mar. 31, 2021) (Billion Yen) TEPCO Public Bond TEPCO Power Grid Public Bond 160.0 Note: The amount redeemed for FY2020 totaled 210.0 billion yen. (FY) ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  32. Slide 32: Response Policy for the Recent Series of Events

    Response Policy for the Recent Series of Events Including Those Related to Physical Protection ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  33. Slide 33: Recent Events and Steps Going Forward – Overview

    Recent Events and Steps Going Forward – 1 Overview 26  A few incidents have occurred at Kashiwazaki-Kariwa Nuclear Power Station such as the incompletion of some safety measures work, unauthorized use of an ID card, partial loss of function of physical protection facilities.  The Fukushima Daiichi

  34. Slide 34: Recent Events and Steps Going Forward – Steps Going Forward

    Recent Events and Steps Going Forward – 2 Steps Going Forward 27  TEPCO takes the orders and indications from the NRA very seriously. Management will take leadership in exploring the root cause of the series of events from a diverse range of perspectives and will engage in radical reform.  In anal

  35. Slide 35: 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.

  36. Slide 36: Current Situation and Status of Units 1 through 4

    Current Situation and Status of Units 1 through 4 28  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

  37. Slide 37: Key points of the revised Mid-and-Long-Term Roadmap

    Key points of the revised “the Mid-and-Long-Term Roadmap” 29 ●Please visit the company webpage for the revised Mid-and-Long-Term Roadmap.  Setting out a basic principle of “coexistence of reconstruction and decommissioning”, while there has been gradual progress of residents’ return and reconstruct

  38. Slide 38: Fuel Debris Retrieval Schedule and Process

    Fuel Debris Retrieval Schedule and Process Based upon the Mid-to-Long Term Decommissioning Implementation Plan 2021 30  On March 25, 2021, the Mid-and-Long Term Decommissioning Action Plan 2021 was published, an updated version of the Mid-and- Long Term Decommissioning Action Plan 2020 given the re

  39. Slide 39: Contaminated Water Management

    Contaminated Water Management 31 − In December 2013, the government’s Nuclear Disaster Response Headquarters arranged a set of preventative and multi-tiered measures based on the three basic policies for addressing contaminated water issues. < Major Progress> Please visit our website for the latest

  40. Slide 40: Approach to the Discharge of ALPS Treated Water

    TEPCO Holdings’ Response Regarding the Handling of ALPS Treated Water – 1 TEPCO Holdings’ Approach to the Discharge of ALPS Treated Water 32  The “Basic Policy on handling of ALPS treated water at the Tokyo Electric Power Company Holdings’ Fukushima Daiichi Nuclear Power Station” (hereinafter gover

  41. Slide 41: Design and Operation of Necessary Facilities/Schedule

    TEPCO Holdings’ Response Regarding Handling of ALPS Treated Water 33 – 2 Design and Operation of Necessary Facilities/Schedule Secondary treatment Site use plan Secondary treatment will be conducted as necessary Necessary measures to discharge ALPS treated water Conceptual diagram of the ocean to en

  42. Slide 42: Other Initiatives

    Other Initiatives ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.

  43. Slide 43: Main Efforts to Increase Corporate Value-1

    Main Efforts to Increase Corporate Value-1 34 <TEPCO Holdings> March 23,2021 TEPCO HD completed the demonstration project that was being implemented with NEDO, Yokogawa Electric, Japan Research Institute in Guangdong, China to deploy energy technologies and systems overseas. The project saved 11, 43

  44. Slide 44: Main Efforts to Increase Corporate Value-2

    Main Efforts to Increase Corporate Value-2 35 <TEPCO Energy Partner> February 18,2021 To respond smoothly to phone calls from our customers, a new AI built on automatic voice- dialogue technology was introduced to our telephone answering service for some of the calls for “starting or stopping the us

Tokyo Electric Power Company Holdings — FY2020 Earnings Presentation on 6ix