Tokyo Electric Power Company Holdings, Incorporated · TSE:9501

Tokyo Electric Power — FY2018 Earnings Presentation

47 slides from Tokyo Electric Power's earnings presentation, Apr 25, 2019

Slide 1: FY2018 Financial Results
FY2018 Financial Results (April 1, 2018 – March 31, 2019) Tokyo Electric Power Company Holdings, Inc. ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.
Slide 3: Overview of FY2018 Financial Results
Overview of FY2018 Financial Results (Released on April 25, 2019) 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
Slide 4: Key Points of FY2018 Financial Results
Key Points of FY2018 Financial Results 1 < FY2018 Financial Results >  Although electricity sales volume for TEPCO Group companies decreased as a result of intensified competition, operating revenue increased due to a rise in fuel cost adjustments.  Ordinary income increased due to continual cost
Slide 5: Consolidated Financial Results
1. Consolidated Financial Results 2 (Unit: Billion kWh) Comparison FY2018 FY2017 (A)-(B) (A)/(B) (%) Electricity Sales Volume 230.3 240.3 -10.0 95.8 (Unit: Billion yen) FY2018 FY2017 Comparison (A) (B) (A)-(B) (A)/(B) (% ) Operating Revenue 6,338.4 5,850.9 487.5 108.3 Operating Income/ Loss 312.2 28
Slide 6: Key Points of Each Company
2. Key Points of Each Company 3 < TEPCO Holdings >  Ordinary income increased due to decreases in outsourcing expenses and increases in dividends received from the subsidiary companies. < TEPCO Fuel & Power >  Ordinary income decreased due to increases in fuel costs caused by rising fuel prices, d
Slide 7: Overview of Each Company
3. Overview of Each Company 4 (Unit: Billion kWh, yen/dollar) ・Decrease in management consultation fees and other FY2018 FY2017 Comparison factors -23.0 ・Increase in wholesale power A r e a D e m a n d 274.7 276.6 -1.9 sales to TEPCO EP and others +171.9 Foreign Exchange Rate (TTM) 110.9 110.9 - ・In
Slide 8: Consolidated Extraordinary Income/Loss
4. Consolidated Extraordinary Income/ Loss 5 (Unit: Billion yen) FY2018 FY2017 Comparison Extraordinary Income/ Loss -18.2 73.8 -92.0 Extraordinary Income 159.8 381.9 -222.1 Grants-in-aid from NDF* 159.8 381.9 -222.1 Extraordinary Loss 178.0 308.1 -130.1 Extraordinary Loss on Disaster 26.9 21.3 5.6
Slide 9: Consolidated Financial Position
5. Consolidated Financial Position 6  Total assets balance increased by 165.6 billion yen due to increases in decommissioning reserve funds.  Total liabilities balance decreased by 80.7 billion yen due to decreases in interest-bearing loans.  Total Net assets balance increased by 246.4 billion ye
Slide 10: Reference: Key Factors Affecting Performance (Results)
<Reference> Key Factors Affecting Performance（Results） 7 Area Demand (Unit: Billion kWh) Comparison FY2018 (A) FY2017 (B) (A)-(B) (A)/(B) (%) Area Demand 274.7 276.6 -1.9 99.3 Foreign Exchange Rate / CIF FY2018 (A) FY2017 (B) (A)-(B) Foreign Exchange Rate (Interbank, yen/dollar) 110.9 110.9 - Crude
Slide 11: Consolidated Ordinary Income/Loss Year on Year Comparison
<Reference> Consolidated Ordinary Income/ Loss –Year on Year Comparison 8 Ordinary Income / Loss (Unit: Billion Yen) Factors related to Power Supply and Demand Others (Including renewable energy) ＋208.8 -187.2 +15.1$/b Increase CIF in Profits Fuel cost -301.0 21.6 billion yen adjustment Effect of De
Slide 12: Consolidated Ordinary Revenue
<Reference> Consolidated Ordinary Revenue 9 (Unit: Billion Yen) FY2018 FY2017 Comparison (A) (B) (A)-(B) (A)/(B) (%) (Operating Revenue) 6,338.4 5,850.9 487.5 108.3 Electricity Sales Revenue 4,794.6 4,690.8 103.7 102.2 Power Sold to Other Utilities and 476.8 265.1 211.6 179.8 Suppliers Other Revenue
Slide 13: Consolidated Ordinary Expenses
<Reference> Consolidated Ordinary Expenses 10 (Unit: Billion Yen) FY2018 FY2017 Comparison (A) (B) (A)-(B) (A)/(B) (%) Personnel Expenses 300.6 324.5 -23.8 92.6 Fuel Expenses 1,574.1 1,339.4 234.6 117.5 Maintenance Expenses 268.2 318.7 -50.4 84.2 Depreciation 528.9 550.2 -21.3 96.1 Power Purchasing
Slide 15: Table of Contents
Table of Contents Financial Results Detailed Information The Current Status of Fukushima Daiichi NPS and Future Initiatives Consolidated Statements of Income 11 Current Situation and Status of Units 1 through 4 22 Financial Impact of the Great East Japan Earthquake 12 Key Points from the 4th Revisio
Slide 17: Consolidated Statements of Income
11 Consolidated Statements of Income (Unit: Billion Yen) Comparison FY2018 (A) FY2017 (B) (A)-(B) (A)/(B) (%) Operating Revenue 6,338.4 5,850.9 487.5 108.3 Operating Expenses 6,026.2 5,562.4 463.7 108.3 Operating Income / Loss 312.2 288.4 23.7 108.2 Non-operating Revenue 38.1 48.6 -10.5 78.4 Investm
Slide 18: Financial Impact of the Great East Japan Earthquake
Financial Impact of the Great East Japan Earthquake 12 Cumulative Item FY2010 to FY2017 FY2018 Amount ◇Grants–in-aid from Nuclear Damage Compensation and Decommissioning Facilitation Corporation ○Grants-in-aid based on Nuclear Damage Compensation and Decommissioning *1 *2 Facilitation Corporation Ac
Slide 19: Consolidated Balance Sheets
Consolidated Balance Sheets 13 (Unit: Billion Yen) <Interest-bearing debt outstanding> (Unit: Billion Yen) Mar. 31 Mar. 31 Comparison Mar. 31 Mar. 31 (A)-(B) 2019 (A) 2018 (B) (A)-(B) (A)/(B) (%) 2019 (A) 2018 (B) Bonds 1,956.7 2,230.8 -274.0 Total Assets 12,757.4 12,591.8 165.6 101.3 Long-term Debt
Slide 20: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows 14 (Unit: Billion Yen) Comparison FY2018 (A) FY2017 (B) (A)-(B) Cash flow from operating activities 503.7 752.1 -248.4 Income / loss before income taxes and minority interests 258.6 327.8 -69.1 Depreciation and amortization 541.8 561.2 -19.4 Increase (decrease)
Slide 21: Overview of Consolidated Cash Flows
Overview of Consolidated Cash Flows - Year on Year Comparison 15 Cash and cash equivalents as of March 31, 2019 decreased 185.0 billion yen to 999.3 billion yen. - Cash flow from operating activities increased 503.7 billion yen mainly due to income before income taxes and minority interests - Cash f
Slide 22: Key Factors Affecting Performance and Financial Impact
Key Factors Affecting Performance and Financial Impact 16 Key Factors Affecting Performance Financial Impact (Sensitivity) (Unit: Billion Yen) [Ref.] FY2018 [Ref.] FY2018 FY2017 Actual Actual FY2017 Actual Actual Performance Performance Performance Performance Electricity Sales Volume 230.3 240.3 (b
Slide 23: Seasonal Breakdown of Electricity Sales Volume and Total Power Generated
Seasonal Breakdown of Electricity Sales Volume and Total Power Generated 17 Electricity Sales Volume Unit: Billion kWh FY2018 Apr-Sep Oct-Dec Jan Feb Mar Jan-Mar Full year Lighting 35.34 16.40 8.49 8.02 6.39 22.91 74.64 Power 80.74 37.24 12.73 12.68 12.28 37.69 155.67 Total 116.07 53.63 21.23 20.70
Slide 24: Fuel Consumption Data
Fuel Consumption Data 18 Fuel Consumption FY2016 FY2017 FY2018 Actual Actual Actual LNG(million t) 21.06 20.80 20.33 Oil (million kｌ) 2.05 0.91 0.49 Coal (million t) 8.14 8.31 8.14 Note: The oil data is total of crude oil and heavy oil, not including gas oil. Fuel Procurement Oil LNG Coal Crude Oil
Slide 25: Gas Supply Business
Gas Supply Business 19 Sales Volume Revenues (Million ton) (Billion yen) (FY) * April 2017~ Full liberalization of gas market <FY2018 Actual Performance> Revenues: Increased 25.1 billion yen YoY to 129.3 billion yen due to increase of unit sales price with the fuel cost adjustment resulting from ris
Slide 26: Feed-in Tariff Scheme for Renewable Energy
Feed-in Tariff Scheme for Renewable Energy (Purchase Cost Collection Flow) 20 （FY2018) Avoidable Cost 159.9 billion yen * Renewable Subsidy Purchase Cost Energy 377.2 billion yen 537.1 billion yen Generators Cost Bearing Adjustment (Recorded as (Recorded as Power Organization Other Revenues) Purchas
Slide 27: Schedules for Public Bond Redemption
Schedules for Public Bond Redemption 21 (Billion Yen) Amount at Maturity (As of Mar 31, 2019) TEPCO Public Bond TEPCO Power Grid Public Bond (FY) Note: The amount redeemed for FY 2018 totaled 451.8 billion yen. ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.
Slide 28: 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 29: Current Situation and Status of Units 1 through 4
Current Situation and Status of Units 1 through 4 22 - At Units 1, 2 and 3, it was evaluated that the comprehensive cold shutdown condition had been maintained, judging from the temperatures of the reactors and spent fuel pools as well as the density of radioactive materials. To facilitate the remov
Slide 30: Key Points from the 4th Revision of the Mid-and-Long-Term Roadmap
Key Points from the 4th Revision of the Mid-and-Long-Term Roadmap (Sep. 2017) 23 ●The revised version of the Mid-and-Long-Term Roadmap is available via our website. 1. Basic Approach toward Revision (1) Maintain approach that prioritizes safety and emphasizes risk reduction (2) Optimize overall deco
Slide 31: Revised Mid-and-Long-Term Roadmap Milestones
Revised Mid-and-Long-Term Roadmap Milestones 24 Maintain Overall Framework of Decommissioning Schedule Nov. 2013 Dec. 2011 (Fuel removal initiated at Unit 4) Dec. 2021 30 to 40 years later Stabilization initiatives Phase 1 Phase 2 Phase 3 Cold shutdown achieved Period until start of spent Period unt
Slide 32: Contaminated Water Management
Contaminated Water Management 25 − 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. <Main countermeasures> < Major Progress> Please visit our
Slide 33: The Current Status of Kashiwazaki-Kariwa Nuclear Power Station and Future Initiatives
The Current Status of Kashiwazaki-Kariwa Nuclear Power Station and Future Initiatives ©Tokyo Electric Power Company Holdings, Inc. All Rights Reserved.
Slide 34: Main Measures to Secure Safety - Outline
Main Measures to Secure Safety – 1 [Outline] 26  We promote the following measures to secure further safety after the Great East Japan Earthquake. I. Installation of flooding embankment III. Further enhancement of heat removal and III. Further enhancement of heat III. Further enhancement of heat re
Slide 35: Main Measures to Secure Safety - Implementation Status
Main Measures to Secure Safety - 2 [Implementation Status] 27 As of April 10, 2019 Item Unit 1 Unit 2 Unit 3 Unit 4 Unit 5 Unit 6 Unit 7 Ⅰ. Installation of flooding embankment [banks] Completed *2 Completed Ⅱ. Countermeasures against inundation into buildings (1) Installation of tide embankments (fl
Slide 36: Compliance Review under the New Regulatory Requirements
Compliance Review under the New Regulatory Requirements 28 Latest Review Status ・On September 27, 2013, the applications for permission changes in reactor installation were presented to receive the regulatory standard compliance examination for Units 6 and 7. ・After the application for permission ch
Slide 37: Key License/Permit Steps under New Regulatory Requirements
29 Pre-use inspection(※2) Successful passage of pre-use inspection TEPCO Application for pre-use inspection Key License/Permit Steps in Enforcement of New Regulatory Requirements Construction plan & safety regulations(※1) Construction plan authorization Safety regulation revision authorization NRA R
Slide 39: Implementation of the Streamlining Policy
Implementation of the Streamlining Policy 31 30 <Cost reduction> − In addition to the cost reductions that has been made under the New Comprehensive Special Business Plan (TEPCO *1 : 4.8 trillion yen/10 years), TEPCO has been executing, under the Revised New Comprehensive Special Business Plan, unpr
Slide 40: Structure Reinforcement for ESG Issues
Structure Reinforcement for ESG Issues 31  Positioning ESG issues as important corporate issues, “ESG Committee”, head director (CFO who is Representative Executive Officer, Executive Vice President) and dedicated organization (ESG Office) were established to reinforce the structure for flexibly ha
Slide 41: Initiatives of JERA
Initiatives of JERA - 1 JERA Profile 32  Both TEPCO Fuel & Power Inc. and Chubu Electric Power Co., Inc. agreed on the scope of the subject assets and liabilities, and schedule for the integration of existing thermal power projects etc. with JERA on February 27, 2018.  A series of the integration
Slide 42: Initiatives of JERA - Income/Expenditure Level of JERA
Initiatives of JERA - 2 Income/Expenditure Level of JERA (P/L Status) 【excluding fuel cost timing impact】 33  Revenue and expenditure balance of JERA aims for net profit of approx. 200 billion yen in FY2025. ＜Consolidated Net Profit Amount＞ (billion JPY) Business Integration (Assumed Results) Fisca
Slide 43: Initiatives of JERA - Integration Synergy Effect
Initiatives of JERA - 3 Integration Synergy Effect of JERA 34  Business is being developed aiming to create synergy effects of more than 100 billion yen per year within 5 years after integration.  For cost reduction measures for streamlining of O&M* and joint procurement of equipment and materials
Slide 44: Efforts towards Nuclear Reform - 1
Efforts towards Nuclear Reform - 1 35 - Framework for Nuclear Reform − Since April 2013, TEPCO has advanced the Nuclear Safety Reform Plan so that it may realize its determination that “the Fukushima nuclear accident will never be forgotten and we will be a nuclear operator which continues to create
Slide 45: Efforts towards Nuclear Reform - 2
Efforts towards Nuclear Reform – 2 36 - Report on Status of the Nuclear Safety Reform Plan With respect to the Nuclear Safety Reform Plan, in addition to measures to make up for the inadequacies in "safety awareness", "interaction capabilities", "technical capabilities" that were the underlying fac
Slide 46: Main Efforts to Increase Corporate Value - 1
Main Efforts to Increase Corporate Value -1 37 <TEPCO Holdings> Feb. 12, 2019 Demonstration experiment of “Smart watch service” which provides secure life for nursing facilities began with Origin Wireless Japan (demonstration of watch service that detects movement of breath using Wi-Fi) Feb. 26, 201
Slide 47: Main Efforts to Increase Corporate Value - 2
Main Efforts to Increase Corporate Value -2 38 <TEPCO Power Grid> Feb. 19, 2019 Agreed on investment of max. £25 million for max. 2 years to UK energy storage company Zenobe with JERA Feb. 21, 2019 Consulting agreement pertaining to the construction of an underground substation was concluded with Dh

Tokyo Electric Power Company Holdings — FY2018 Earnings Presentation on 6ix

Tokyo Electric Power — FY2018 Earnings Presentation

Slide 1: FY2018 Financial Results

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

Slide 3: Overview of FY2018 Financial Results

Slide 4: Key Points of FY2018 Financial Results

Slide 5: Consolidated Financial Results

Slide 6: Key Points of Each Company

Slide 7: Overview of Each Company

Slide 8: Consolidated Extraordinary Income/Loss

Slide 9: Consolidated Financial Position

Slide 10: Reference: Key Factors Affecting Performance (Results)

Slide 11: Consolidated Ordinary Income/Loss Year on Year Comparison

Slide 12: Consolidated Ordinary Revenue

Slide 13: Consolidated Ordinary Expenses

Slide 14: Supplemental Material

Slide 15: Table of Contents

Slide 16: FY2018 Financial Results Detailed Information

Slide 17: Consolidated Statements of Income

Slide 18: Financial Impact of the Great East Japan Earthquake

Slide 19: Consolidated Balance Sheets

Slide 20: Consolidated Statements of Cash Flows

Slide 21: Overview of Consolidated Cash Flows

Slide 22: Key Factors Affecting Performance and Financial Impact

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

Slide 24: Fuel Consumption Data

Slide 25: Gas Supply Business

Slide 26: Feed-in Tariff Scheme for Renewable Energy

Slide 27: Schedules for Public Bond Redemption

Slide 28: The Current Status of Fukushima Daiichi Nuclear Power Station and Future Initiatives

Slide 29: Current Situation and Status of Units 1 through 4

Slide 30: Key Points from the 4th Revision of the Mid-and-Long-Term Roadmap

Slide 31: Revised Mid-and-Long-Term Roadmap Milestones

Slide 32: Contaminated Water Management

Slide 33: The Current Status of Kashiwazaki-Kariwa Nuclear Power Station and Future Initiatives

Slide 34: Main Measures to Secure Safety - Outline

Slide 35: Main Measures to Secure Safety - Implementation Status

Slide 36: Compliance Review under the New Regulatory Requirements

Slide 37: Key License/Permit Steps under New Regulatory Requirements

Slide 38: Other Initiatives

Slide 39: Implementation of the Streamlining Policy

Slide 40: Structure Reinforcement for ESG Issues

Slide 41: Initiatives of JERA

Slide 42: Initiatives of JERA - Income/Expenditure Level of JERA

Slide 43: Initiatives of JERA - Integration Synergy Effect

Slide 44: Efforts towards Nuclear Reform - 1

Slide 45: Efforts towards Nuclear Reform - 2

Slide 46: Main Efforts to Increase Corporate Value - 1

Slide 47: Main Efforts to Increase Corporate Value - 2