Kansai Electric Power Co., Inc. announced its financial results for the year ending March, and sales and profits declined due to the rise in procurement prices for LNG = liquefied natural gas.
Furthermore, regarding the one-year results up to March next year, the company has indicated that the final profit and loss will be a deficit of 75 billion yen due to the prolonged soaring fuel prices.
According to the financial results of the entire group for the year to March announced by Kansai Electric Power Co., Inc., sales decreased by 7% from the same period of the previous year to 2,851.8 billion yen, and ordinary income decreased by 11% to 135.9 billion yen. , Sales and profits decreased.
This is mainly due to the continued rise in procurement prices for LNG and coal, which are fuels for thermal power generation, due to the effects of Russia's invasion of Ukraine.
Furthermore, regarding the outlook for business results for the year ending March next year, in addition to the continued impact of soaring fuel prices, the resumption of operation of Takahama Nuclear Power Station Unit 3 in Fukui Prefecture is expected to be delayed. Therefore, it was revealed that the final profit and loss will be a deficit of 75 billion yen.
It will be the first time in eight years since 2014 that the final deficit will actually be reached.
At a press conference, Kansai Electric Power Company President Takashi Morimoto said, "The balance of payments is extremely difficult. The effects of rising fuel prices and the depreciation of the yen will be negative factors on a considerable scale, but we would like to continue our efforts to mitigate the effects." Said.