Hokuriku Electric Power, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 44%, Dividend Revised Upward by 2.5 Yen

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Thu Oct 30, 2025 3:30 pm JST Earnings

9505 Hokuriku Electric Power Company 【J-GAAP】

Earnings Report

Hokuriku Electric Power Company <9505> [TSE Prime] announced its financial results after the market closed on October 30th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 9.2% from the same period last year, reaching 65.6 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 44.4%, from the previous forecast of 45.0 billion yen to 65.0 billion yen (compared to 91.3 billion yen in the previous period), and the declining rate is expected to decrease from 50.7% to 28.9%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 0.67 billion yen (compared to a profit of 31.1 billion yen in the same period last year).

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 20 yen to 22.5 yen (compared to 20 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew 19.4% from the same period last year, reaching 29.7 billion yen. The operating profit margin rose from 11.3% in the same period last year to 13.9%.

Kabutan News

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	407,921	75,012	70,003	51,188	245.2	64.9	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	420,312	62,340	60,165	44,207	211.7	65.9	Oct 30, 2024	J-GAAP
Apr - Sep, 2025	403,179	66,546	65,679	48,138	230.5	101.0	Oct 30, 2025	J-GAAP
YoY	-4.1%	+6.7%	+9.2%	+8.9%	+8.9%

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 28, 2025	J-GAAP
Apr - Sep, 2025 Results	403,179	66,546	65,679	48,138	230.5	10	Oct 30, 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	780,000	50,000	45,000	30,000	143.6	20	Apr 28, 2025	J-GAAP
Mar, 2026 New	780,000	70,000	65,000	48,000	229.8	22.50	Oct 30, 2025	J-GAAP
Revision Rate	0.0%	+40.0%	+44.4%	+60.0%	+60.0%

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	437,963	38,694	31,198	20,941	100.3	12.50	Apr 28, 2025	J-GAAP
Oct - Mar, 2025 Guidance	376,821	3,454	-679	-138	-0.7	12.50	Oct 30, 2025	J-GAAP
YoY	-14.0%	-91.1%	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	808,238	114,911	107,931	56,811	272.2	7.50	Apr 30, 2024	J-GAAP
Mar, 2025	858,275	101,034	91,363	65,148	312.0	20	Apr 28, 2025	J-GAAP
Mar, 2026 Guidance	780,000	70,000	65,000	48,000	229.8	22.50	Oct 30, 2025	J-GAAP
YoY	-9.1%	-30.7%	-28.9%	-26.3%	-26.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	232,676	26,346	24,949	17,786	85.2	11.3	Oct 30, 2024	J-GAAP
Oct - Dec, 2024	206,445	16,120	13,424	9,905	47.4	7.8	Jan 30, 2025	J-GAAP
Jan - Mar, 2025	231,518	22,574	17,774	11,036	52.9	9.8	Apr 28, 2025	J-GAAP
Apr - Jun, 2025	186,079	36,272	35,881	27,986	134.0	19.5	Jul 30, 2025	J-GAAP
Jul - Sep, 2025	217,100	30,274	29,798	20,152	96.5	13.9	Oct 30, 2025	J-GAAP
YoY	-6.7%	+14.9%	+19.4%	+13.3%	+13.3%