Tohoku Electric Power, The Current Fiscal Year Ordinary Profit Revised Upward by 5%, Dividend Revised Upward by 5 yen

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Fri Jan 31, 2025 3:00 pm JST Earnings

9506 Tohoku Electric Power Company,Incorporated 【J-GAAP】

Earnings Report

Tohoku Electric Power Company,Incorporated <9506> [TSE Prime] announced its financial results in the afternoon session on January 31st (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) dropped 34.2% from the same period last year to 183 billion yen.

However, the full-year consolidated ordinary profit has been revised upward 5.3%, from the previous forecast of 190 billion yen to 200 billion yen (compared to 291 billion yen in the previous period), and the declining rate is expected to decrease from 34.9% to 31.5%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has been revised upward 27.3%, from the previous forecast of 36.6 billion yen to 46.6 billion yen (compared to 72.7 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 49.6% to 35.9%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 30 yen to 35 yen (compared to 15 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit dropped to 30.1 billion yen, a 49.5% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.7% in the same period last year to 5.2%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	2,132,440	-213,493	-223,146	-230,393	-460.8	ー	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	2,056,315	292,418	278,893	196,304	392.6	95.5	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	1,920,436	200,702	183,511	127,916	255.8	91.8	Jan 31, 2025	J-GAAP
YoY	-6.6%	-31.4%	-34.2%	-34.8%	-34.8%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	1,518,427	51,227	36,645	23,970	47.9	15	Oct 31, 2024	J-GAAP
Oct - Mar, 2024 New	1,318,427	61,227	46,645	33,970	67.9	20	Jan 31, 2025	J-GAAP
Revision Rate	-13.2%	+19.5%	+27.3%	+41.7%	+41.7%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,830,000	220,000	190,000	130,000	259.9	30	Apr 30, 2024	J-GAAP
Mar, 2025 New	2,630,000	230,000	200,000	140,000	279.9	35	Jan 31, 2025	J-GAAP
Revision Rate	-7.1%	+4.5%	+5.3%	+7.7%	+7.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,429,978	94,722	72,774	70,708	141.4	10	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,318,427	61,227	46,645	33,970	67.9	20	Jan 31, 2025	J-GAAP
YoY	-7.8%	-35.4%	-35.9%	-52.0%	-52.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,007,204	-180,054	-199,277	-127,562	-255.1	0	Apr 28, 2023	J-GAAP
Mar, 2024	2,817,813	322,263	291,940	226,102	452.1	15	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	2,630,000	230,000	200,000	140,000	279.9	35	Jan 31, 2025	J-GAAP
YoY	-6.7%	-28.6%	-31.5%	-38.1%	-38.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	668,480	64,877	59,727	40,910	81.8	9.7	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	761,498	29,845	13,047	29,798	59.6	3.9	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	614,563	93,957	90,135	60,566	121.1	15.3	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	697,010	74,816	63,220	45,464	90.9	10.7	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	608,863	31,929	30,156	21,886	43.8	5.2	Jan 31, 2025	J-GAAP
YoY	-8.9%	-50.8%	-49.5%	-46.5%	-46.5%