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Hokkaido Electric Power, Operating Profit Forecast for the Fiscal Year Revised Upward by 4%

Fri Jan 30, 2026 3:30 pm JST Earnings

9509 Hokkaido Electric Power Company, Incorporated 【J-GAAP】

Earnings Report

Hokkaido Electric Power Company, Incorporated <9509> [TSE Prime] announced its financial results after the market closed on January 30th (15:30). The consolidated operating profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 22.7% from the same period last year, reaching 79.1 billion yen.

In addition, the full-year forecast for consolidated operating profit has been revised upward 3.5%, from the previous forecast of 57.0 billion yen to 59.0 billion yen (compared to 75.8 billion yen in the previous period), and the declining rate is expected to decrease from 24.8% to 22.2%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated operating profit/loss for the October to March period (second half) has been revised upward from an expected loss of 10.9 billion yen to a loss of 8.96 billion yen (compared to a profit of 19.6 billion yen in the same period of the previous year), indicating a reduction in the loss margin.

In the most recent three-month period, from October to December (3Q), the consolidated operating profit increased 34.4% from the same period last year, reaching 11.1 billion yen. The operating profit margin improved from 3.6% in the same period last year to 5.4%.

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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, 2023 685,581 81,030 73,793 53,661 256.1 84.5 Jan 31, 2024 J-GAAP
Apr - Dec, 2024 646,403 64,495 56,804 54,665 261.1 88.7 Jan 31, 2025 J-GAAP
Apr - Dec, 2025 617,703 79,157 67,982 48,822 232.6 158.1 Jan 30, 2026 J-GAAP
YoY -4.4% +22.7% +19.7% -10.7% -10.9%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 456,049 -10,967 -18,939 -16,831 -77.8 15 Oct 31, 2025 J-GAAP
Oct - Mar, 2025 New 455,049 -8,967 -18,939 -16,831 -77.8 15 Jan 30, 2026 J-GAAP
Revision Rate -0.2% +18.2% 0.0% 0.0% 0.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 868,000 57,000 43,000 28,000 129.5 30 Oct 31, 2025 J-GAAP
Mar, 2026 New 867,000 59,000 43,000 28,000 129.5 30 Jan 30, 2026 J-GAAP
Revision Rate -0.1% +3.5% 0.0% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 485,343 19,670 13,264 13,536 64.5 10 Apr 30, 2025 J-GAAP
Oct - Mar, 2025 Guidance 455,049 -8,967 -18,939 -16,831 -77.8 15 Jan 30, 2026 J-GAAP
YoY -6.2% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 953,784 101,155 87,315 66,201 315.4 20 Apr 26, 2024 J-GAAP
Mar, 2025 902,053 75,838 64,051 64,218 305.9 20 Apr 30, 2025 J-GAAP
Mar, 2026 Guidance 867,000 59,000 43,000 28,000 129.5 30 Jan 30, 2026 J-GAAP
YoY -3.9% -22.2% -32.9% -56.4% -57.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 229,693 8,327 6,017 3,983 19.0 3.6 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 255,650 11,343 7,247 9,553 45.5 4.4 Apr 30, 2025 J-GAAP
Apr - Jun, 2025 202,497 43,898 41,658 30,775 148.2 21.7 Jul 31, 2025 J-GAAP
Jul - Sep, 2025 209,454 24,069 20,281 14,056 67.4 11.5 Oct 31, 2025 J-GAAP
Oct - Dec, 2025 205,752 11,190 6,043 3,991 19.0 5.4 Jan 30, 2026 J-GAAP
YoY -10.4% +34.4% +0.4% +0.2% -0.1%

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