Tokyo Electric Power Company Holdings booked an operating loss of ¥34.3bn for the three months to June 2026, reversing a ¥64.7bn operating profit in the same period a year earlier, even as revenue rose 3.9% to ¥1.48tn. Ordinary income, the measure Japanese companies watch most closely, fell 89% to ¥11.4bn from ¥101.3bn.
| Metric | Apr-June 2026 | Apr-June 2025 |
|---|---|---|
| Operating revenue | ¥1.48tn | ¥1.43tn |
| Operating income/loss | -¥34.3bn | ¥64.7bn |
| Ordinary income | ¥11.4bn | ¥101.3bn |
| Net income/loss (parent) | -¥9.8bn | -¥857.7bn |
| Dividend forecast (annual) | ¥0.00 | ¥0.00 |
The company pointed to higher fuel and wholesale electricity costs. Its retail arm, Tokyo Electric Power Energy Partner, swung to an ordinary loss of ¥50.9bn from a ¥30.6bn profit as procurement costs outran sales; combined retail electricity volumes across the group's main retail business and its last-resort and island-supply operations fell 11% to 34.4bn kWh from 38.6bn kWh. Grid operator Tokyo Electric Power Power Grid swung to an ordinary loss of ¥31.2bn from a ¥22.4bn profit as costs for balancing electricity supply and demand rose.
Two external factors drove procurement costs higher. The yen weakened to ¥159.6 against the dollar from ¥144.6 a year earlier, and benchmark crude rose to $112.7 a barrel from $75.2, both raising the cost of imported fuel for power generation. Nuclear capacity utilization, which reduces reliance on costlier fossil generation, rose to 17.1% from effectively zero as a reactor came back online, but that was not enough to offset the fuel and market-price pressure on the retail and grid businesses.
Net loss attributable to shareholders narrowed sharply, to ¥9.8bn from ¥857.7bn, but that comparison flatters the current quarter: the year-earlier period carried a one-off ¥903.0bn disaster-related special loss tied to Fukushima that did not recur this year.
Separately, TEPCO recorded a fresh ¥15.6bn extraordinary loss in the quarter for nuclear damage compensation, after revising its estimate of Fukushima-related compensation costs upward under the government's interim compensation guidelines. That brings the company's cumulative compensation liability to ¥8.39tn, against ¥8.37tn in cumulative funding support drawn from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation, leaving ¥19.2bn in approved support still unclaimed.
TEPCO again declined to issue full-year guidance for the year to March 2027, saying fuel-price and wholesale-market volatility tied to Middle East conditions made a reliable forecast impossible; it will publish one once conditions allow. The dividend forecast stays at zero, unchanged from the prior year.