Unaudited Financial Release (Consolidated) for the First Quarter
The information below is an English translation of extracts from Unaudited Financial Release(Consolidated) for the first quarter that has been filed with the major Japanese stock exchanges (Tokyo)
for public inspection. These financial statements have been prepared in accordance with accounting
principles and practices generally accepted in Japan.
July 30, 2024
The Kansai Electric Power Co., Inc. (Code: 9503)
6-16 Nakanoshima 3-chome, Kita-ku, Osaka(URL https://www.kepco.co.jp/)
Company Representative: Nozomu Mori, Director, Representative Executive Officer, President
Contact: Hironori Kakiguchi, Senior General Manager, Office of Accounting and Finance
Tel: 050-7105-9084
Ⅰ. Performance over the Three-Months ended June 30, 2024 and 2023
(Figures are rounded down to the nearest million yen)
1. Results of Operations(Million yen)Three-Months
ended June 302023
2024

23/22

Operating Revenues

966,593984,149

25.9%

1.8%

Operating Income

256,367

148,773―△42.0%

Ordinary Income *268,302

168,962―△37.0%Net Income attributable to owners ofthe parent

193,181

115,775―△40.1%

216.45 yen

129.74 yen――

Fully Diluted Net Income per Share――――

Comprehensive income
Three-months ended June 30, 2024:
Three-months ended June 30, 2023:

158,608 million yen
239,828 million yen

Net Income per Share

Change
24/23

Notes: Ordinary Income means Income before Provision for/Reversal of Reserve for Fluctuations inWater Level, Special Item and Income Taxes.
2. Financial Position
As ofMarch 31, 2024
9,032,917
2,333,248
25.2%

Total Assets
Net Assets
Equity Ratio
Notes: Equity capital
As of June 30, 2024:
As of March 31, 2024:

2,403,683 million yen
2,273,157 million yen

1(Million yen)
As ofJune 30, 2024
8,987,002
2,469,313
26.7%

Ⅱ. Dividends

FY 3/2024
FY 3/2025(Forecasts)

Interim dividend
per share
25.00 yen
30.00 yen

Year-end dividend
per share
25.00 yen
30.00 yen

Annual dividend
per share
50.00 yen
60.00 yen

Ⅲ. Financial Forecasts
Operating Revenues
Operating Income
Ordinary Income
Net Income attributable to owners of the parent
Net Income per Share

(Billion yen)
4/1/2024 – 3/31/2025 (Forecasts)
4,450
330360260
291.37 yen

Ⅳ. Other1. Change in major consolidated subsidiaries: None
2. Difference in major accounting methods from the latest consolidated financial year: None
3. Number of shares outstanding (included Treasury stock)
As of June 30, 2024:
938,733,028 shares
As of March 31, 2024:
938,733,028 shares
4. Number of Treasury stock
As of June 30, 2024:
As of March 31, 2024:

46,394,290 shares
46,347,485 shares

5. Number of Average stock
As of June 30, 2024:
As of June 30, 2023:

892,335,737 shares
892,499,344 shares

Notes: We have adopted BIP (Board Incentive Plan) Trust mechanism, and the number of treasury
stock at year end includes our shares held by said trust account (393,287 shares as of June 30,2024). Additionally, our shares held by said trust account are included in treasury stock that isdeducted in the calculation of the number of average stock.

2< Reference >Electricity Sales(GWh)Three-months
ended Jun. 30, 2023

Three-months
ended Jun. 30, 2024

Change (%)

30,13135,382

117.4

Retail electric sales

26,16526,026

99.5

Residential6,320

6,545

103.6

19,846

19,48198.2

3,965

9,356

235.9

Total electric sales

Commercial andIndustrialElectricity sales to
Other companies

Notes: Total electricity sales indicates those in energy business attributable to the parent company.
Some rounding errors may be observed.
The amount of Electricity sales to other companies and total electric sales represent theamount of electricity known as of the date of submission (July 30, 2024).

3

Consolidated Balance Sheets
Account(Assets)
Non-current assets
Electric utility plant and equipment
Hydroelectric power production facilities
Thermal power production facilitiesNuclear power production facilities
Transmission facilities
Transformation facilities
Distribution facilities
General facilities
Other electric utility plant and equipment
Other non-current assets
Construction in progress
Construction and retirement in progressSpecial account related to nuclear power
decommissioning
Special account related to reprocessing of spent nuclear
fuel
Nuclear fuelLoaded nuclear fuelNuclear fuel in processing
Investments and other assets
Long-term investments
Long-term investments in subsidiaries and associates
Deferred tax assets
OtherAllowance for doubtful accounts
Current assets
Cash and deposits
Notes and accounts receivable and contract assets
Inventories
Other
Allowance for doubtful accounts
Total assets

4

As ofMar. 31, 2024

(Million yen)
As ofJun. 30, 2024

7,592,242
3,847,879
302,437
261,905
1,140,381
779,221427,858
818,790
115,477
1,807
962,955
502,873
254,851

7,629,700
3,834,471
301,024
257,398
1,113,204
783,741
431,021831,021
115,317
1,742
976,507498,487
232,800

37,13743,897

210,885

221,789

488,716
82,547406,168
1,789,817
660,581710,501
294,780
149,964-26,008
1,440,674
495,938
387,631
255,671304,576-3,1439,032,917

480,060
77,330402,730
1,840,172
687,282
731,575
271,169
177,813-27,667
1,357,302
332,946434,812282,209
310,926-3,592
8,987,002

Consolidated Balance Sheets
Account(Liabilities)
Non-current liabilities
Bonds payable
Long-term borrowings
Accrued decommissioning contributions
Provision for loss on guarantees
Liability for retirement benefits
Asset retirement obligations
Deferred tax liabilities
Other
Current liabilities
Current maturities of long-term debtShort-term borrowings
Notes and accounts payable
Accrued income taxes
Other current liabilities
Reserves under special laws
Reserve for water shortage
Total liabilities(Net Assets)
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustments
Defined retirement benefit plans
Non-controlling interests
Total net assets
Total liabilities and net assets

5As ofMar. 31, 2024

(Million yen)
As ofJun. 30, 2024

5,069,701
1,493,500
2,392,577－
1,973
358,279
549,782
14,224259,362
1,606,535
541,598
156,981
160,645
216,931530,378
23,43323,433
6,699,669

5,018,084
1,499,600
2,382,212
507,1482,141
357,798
12,63615,990240,555
1,476,171
597,928
160,277
192,965
67,538457,461
23,43323,4336,517,689

2,014,641
489,32067,002
1,556,102-97,783
258,515130,191
50,29876,5501,475
60,0912,333,248
9,032,917

2,107,961
489,32067,006
1,649,550-97,915
295,722
138,779
57,542
97,877
1,522
65,6292,469,313
8,987,002

Consolidated Statements of Operations
Account
Ordinary revenues and expenses
Operating revenue and expenses
Operating revenue
Electric
Other
Operating expenses
Electric
Other
Operating income
Non-Operating revenues and expenses
Non-operating revenues
Dividend received
Interest revenue
Foreign exchange gains
Share of profit of entities accounted for using equity
methodOther
Non-operating expenses
Interest expenses
Other
Total ordinary revenue
Total ordinary expenses
Ordinary income
Income before income taxes and minority interests
Income taxes-current
Income taxes-deferred
Income taxes
Net income
Net income attributable to non-controlling interests
Net income attributable to owners of parent

6

Three-months
ended
Jun.30, 2023

(Million yen)Three-months
ended
Jun. 30, 2024

966,593753,586
213,007710,226
540,681
169,544
256,367

984,149754,970
229,178
835,375
637,501
197,874
148,773

24,679
7,117
919
7,833

33,136
3,549
1,388
16,801

5,184

6,149

3,623
12,743
6,906
5,837
991,272
722,970
268,302268,30230,694
41,81372,507
195,794
2,613
193,181

5,248
12,9477,847
5,100
1,017,,285
848,323
168,962
168,962
28,93420,09249,027
119,935
4,159
115,775

Consolidated Statements of Comprehensive Income
Account
Net income
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustments
Defined retirement benefit plans
Share of other comprehensive income in associates
Total other comprehensive income
Comprehensive income(Breakdown)
Attributable to owners of parent
Attributable to non-controlling interests

7

Three-months
endedJun.30, 2023
195,794(Million yen)Three-months
ended
Jun. 30, 2024
119,935

14,82910,2305,126
286
13,561
44,033239,828

8,694
7,032
12,407
128
10,41038,673
158,608

233,573
6,254

152,9815,626