Chugoku Electric Power, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 18%, Dividend Revised Upward by 6 Yen

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Fri Oct 31, 2025 3:30 pm JST Earnings

9504 The Chugoku Electric Power Company, Incorporated 【J-GAAP】

Earnings Report

The Chugoku Electric Power Company, Incorporated <9504> [TSE Prime] announced its financial results after the market closed on October 31st (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 29.2% from the same period last year, reaching 84.5 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 17.6%, from the previous forecast of 85.0 billion yen to 100 billion yen (compared to 128 billion yen in the previous period), and the declining rate is expected to decrease from 33.9% to 22.2%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop 75.5% from the same period last year to 15.5 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 21 yen to 27 yen (compared to 27 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased 80.3% from the same period last year, reaching 50.5 billion yen. The operating profit margin significantly improved from 8.5% in the same period last year to 12.9%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2023	841,547	165,064	161,933	123,028	341.5	83.4	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	741,906	69,889	65,400	51,662	143.5	50.9	Oct 31, 2024	J-GAAP
Apr - Sep, 2025	726,264	90,930	84,500	64,756	180.1	84.5	Oct 31, 2025	J-GAAP
YoY	-2.1%	+30.1%	+29.2%	+25.3%	+25.5%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2025 Guidance	ー	ー	ー	ー	－	10	Apr 30, 2025	J-GAAP
Apr - Sep, 2025 Results	726,264	90,930	84,500	64,756	180.1	10	Oct 31, 2025	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	1,400,000	95,000	85,000	65,000	180.8	21	Apr 30, 2025	J-GAAP
Mar, 2026 New	1,400,000	115,000	100,000	81,000	225.3	27	Oct 31, 2025	J-GAAP
Revision Rate	0.0%	+21.1%	+17.6%	+24.6%	+24.6%

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	787,312	59,259	63,143	46,812	130.1	22	Apr 30, 2025	J-GAAP
Oct - Mar, 2025 Guidance	673,736	24,070	15,500	16,244	45.2	17	Oct 31, 2025	J-GAAP
YoY	-14.4%	-59.4%	-75.5%	-65.3%	-65.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	1,628,785	206,777	194,076	133,501	370.6	35	Apr 30, 2024	J-GAAP
Mar, 2025	1,529,218	129,148	128,543	98,474	273.7	27	Apr 30, 2025	J-GAAP
Mar, 2026 Guidance	1,400,000	115,000	100,000	81,000	225.3	27	Oct 31, 2025	J-GAAP
YoY	-8.4%	-11.0%	-22.2%	-17.7%	-17.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	411,562	35,024	28,041	28,300	78.6	8.5	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	354,505	20,064	28,775	27,081	75.3	5.7	Jan 31, 2025	J-GAAP
Jan - Mar, 2025	432,807	39,195	34,368	19,731	54.8	9.1	Apr 30, 2025	J-GAAP
Apr - Jun, 2025	329,562	39,586	33,931	26,802	74.5	12.0	Jul 31, 2025	J-GAAP
Jul - Sep, 2025	396,702	51,344	50,569	37,954	105.6	12.9	Oct 31, 2025	J-GAAP
YoY	-3.6%	+46.6%	+80.3%	+34.1%	+34.3%