The Kansai Electric Power Company (9503) Q1 2027 earnings summary

Executive summary

• Q1 FY2026 net sales rose to JPY 1,007.9 bn (+9.8% YoY), but ordinary profit dropped to JPY 52.8 bn (–60.8% YoY) due to higher fuel costs and lower nuclear capacity factor.

• Extraordinary income of JPY 105.0 bn was recognized from the sale of KINDEN shares, boosting profit attributable to owners of parent by 38.2% YoY to JPY 137.0 bn.

• Comprehensive income surged 111.4% YoY to JPY 163.9 bn.

Financial highlights

• Net sales: JPY 1,007.9 bn (+JPY 90.1 bn YoY); operating profit: JPY 20.3 bn (–JPY 108.5 bn YoY); ordinary profit: JPY 52.8 bn (–JPY 81.8 bn YoY).

• Profit before income taxes rose to JPY 158.6 bn, driven by a JPY 105.1 bn extraordinary gain on sale of affiliate shares.

• Profit attributable to owners of parent: JPY 137.0 bn (+JPY 37.8 bn YoY); basic EPS: JPY 123.02.

• Interest-bearing debt increased to JPY 4,339.8 bn.

Outlook and guidance

• FY2026 forecasts unchanged: net sales JPY 4,500.0 bn, ordinary profit JPY 290.0 bn, profit JPY 310.0 bn, basic EPS JPY 278.23.

• Annual dividend forecast raised to JPY 80/share (interim and year-end JPY 40 each).

• Key assumptions: nuclear capacity factor ~70%, crude oil price ~USD 80/bbl, exchange rate ~JPY 160/USD.