Earnings, deals and disclosures from Japan's listed energy & utilities companies, in English.
Kansai Electric's net profit fell to ¥183.0bn, helped by a ¥105.1bn disposal gain, while ordinary profit dropped to ¥111.6bn and operating cash flow turned to a ¥138.7bn outflow as purchased-power and fuel costs rose.
ENEOS's reported April-to-September operating profit of ¥706.1bn falls to ¥443.8bn excluding inventory effects, and its renewables segment took ¥111.8bn of impairments while the $758mn TPC Holdings purchase closed.
ENEOS raised its forecast operating profit to ¥910bn on oil earnings, while a ¥111.8bn renewables impairment, booked after it tightened its new development policy, cut attributable profit by ¥97.8bn.
Cosmo Energy's ¥147.4bn half-year net profit already exceeds its ¥44.0bn full-year forecast, but operating cash flow was negative ¥1.2bn as inventories grew, and management left the annual guidance unchanged.
TEPCO's ¥52.7bn interim net profit follows a ¥712.4bn loss a year earlier, but the business posted a ¥33.7bn operating loss and negative operating cash flow, and the full-year forecast stays undecided.
Osaka Gas raised its full-year sales forecast by ¥84bn to ¥2.25tn while holding ordinary profit guidance at ¥190bn, after a delay in passing fuel costs into gas tariffs cut interim ordinary profit by 21.6%.
Chubu Electric wrote off its nuclear power business assets, a ¥370.3bn special loss, after withdrawing Hamaoka Units 3 and 4 permit applications, and now forecasts a ¥215.0bn net loss for the year to March 2027.
MORESCO raised its full-year operating-profit forecast from ¥2.4bn to ¥4.5bn, citing price corrections, higher car output outside China and data-centre disk lubricants, and lifted its year-end dividend forecast to ¥70 a share.
Digital Grid's contracted power capacity jumped 38% and revenue hit a record, but the company guided next year's operating profit down 5% and its net profit down nearly 18%, as a debt-funded pivot into owning grid-scale batteries cut its equity ratio to 34.1% and pushed operating cash flow negative.
Japan Petroleum Exploration completed the sale of one listed security for a ¥8.72bn gain, above the ¥6.0bn it estimated on August 6, and kept its full-year earnings forecast as is.
Longer Middle East shipping routes and rising crude prices turned Idemitsu Kosan's refining timing lag into a ¥217.5bn quarterly profit, but the oil major has left its far more modest full-year forecast untouched.
Middle East disruption cut INPEX's crude sales nearly a quarter in the first half, but higher prices, a weaker yen and steady Ichthys output pushed the energy explorer to raise its full-year profit forecast to a record ¥510bn, fund a ¥140bn buyback and lift its dividend to ¥112 a share.
A ¥6bn gain from selling one listed stock, rather than a rebound in crude sales, is doing much of the work in Japan Petroleum Exploration's higher full-year profit forecast, after quarterly profit fell 79% on costly spot LNG cargoes.
A three-month gap between rising fuel costs and the tariffs that recover them cut Osaka Gas's quarterly ordinary profit by 15.3%, while the loss of a one-off insurance payout booked a year earlier pulled net profit down 26.5%. The utility still lifted its full-year sales forecast by ¥100bn while leaving profit guidance and its dividend untouched.
Tokyo Electric Power Holdings booked a ¥34.3bn operating loss for the quarter through June as fuel and wholesale power costs pushed its retail and grid businesses into the red, and the utility still isn't giving a full-year profit forecast.
Toho Gas's first-quarter operating profit fell 61.5% to ¥7.64bn after Japan's fuel-cost pass-through mechanism flipped from a gain to a loss amid $112.7 crude and a ¥159.6-to-the-dollar yen, even as the company keeps its full-year guidance unchanged.
Revenue slipped to ¥2.25tn in the year to March, but ordinary income still rose to ¥207.06bn and profit attributable to owners of parent to ¥154.54bn. Total assets reached ¥5.98tn and net assets ¥1.23tn, which keeps the group in the useful category of large, profitable and no longer explaining away a crisis year.
The utility's amended report for the six months to September 2024 showed sales at ¥2.14tn, while ordinary income dropped to ¥319.24bn and operating cash flow to ¥136.29bn.
Revenue fell to ¥2.01tn and ordinary income slipped to ¥315.0bn in the six months to September, but profit attributable to owners rose to ¥232.9bn and net assets reached ¥3.31tn.
Revenue slipped to ¥11.77tn, but operating profit recovered to ¥466.6bn and parent profit rose to ¥258.7bn, while equity attributable to owners reached ¥3.37tn. Lower top line, stronger profit and equity: not elegant, but effective.
Digital Grid raised its full-year outlook to ¥6.595 billion in revenue and ¥1.919 billion in net profit after nine-month net profit rose 17.9% to ¥1.872 billion. Management said Power PF and Renewable PF recognized more revenue than budgeted, while the AS business also helped. The read-through is positive, but not just because of the core platform: Renewable PF sales rose 54.6% over the first nine months, and presentation materials showed DGP fee revenue eased quarter on quarter even as handled power volume edged up.
Digital Grid raised its outlook for the year to July to ¥6.595 billion in sales, ¥2.836 billion in operating profit and ¥1.919 billion in net profit, after nine-month profit already ran past the old plan. Management pointed to faster-than-budgeted revenue recognition in the electricity and renewable platform businesses and firm battery-related aggregation services. The asterisk is that some platform fee trends softened quarter on quarter, and the company says further reserve-market price-cap cuts could still hurt the AS business.
Kinden's self-tender bought 33.5 million shares from Kansai Electric and its subsidiary out of 73,412,898 tendered, setting up planned special profit of about ¥176 billion on parent-only accounts and about ¥105 billion on a consolidated basis for the year to March 2027. The useful distinction is that this is a one-off gain from trimming an equity-method affiliate stake, not a clean read on recurring earnings.