October 31, 2023
The 2nd Quarter of the Fiscal Year Ending March 31, 2024 Financial Results Overview 〔 Japan GAAP〕 （ Consolidated）
Kyushu Electric Power Co., Inc.
Stock code: 9508 URL: https://www.kyuden.co.jp/english_index.html
Representative: Mr. Kazuhiro Ikebe, President & Chief Executive Officer
Contact: Investor Relations Group, Corporate Strategy Division. Tel: +81-92-726-1575
Quarterly financial report submission date (plan): November 10, 2023
Date to start dividend payments: －Preparation of supplementary materials for quarterly financial results: YesInformation meeting for quarterly financial results: Yes (for analysts and institutional investors)

Stock listed on: Tokyo SE, Fukuoka SE(Rounded dow n to the nearest million yen)

1. Consolidated Financial Results for the Three Months (April 1, 2023 to September 30, 2023)(1) Consolidated Operational Results(% show s the changes from the same quarter period of the previous FY)

SalesOperating profit(Unit: million yen)(%)

(Unit: million yen)

Ordinary profit(%)(Unit: million yen)(%)

April 1, 2023 - September 30, 2023

1,085,316

7.4207,598－

199,507－

April 1, 2022 - September 30, 2022

1,010,682

31.0-75,699－-77,861－(Note) Comprehens ive income : FY2023 2Q 176,016 million yen ( - %)FY2022 2Q -17,346 million yen ( - %)Profit attributable toowners of parentEPS

Fully-diluted EPS(Unit: million yen)(%)

(Unit: yen)

(Unit: yen)

April 1, 2023 - September 30, 2023

149,845－313.36－

April 1, 2022 - September 30, 2022

-47,676－-103.07－(Note) Fully-diluted EPS for FY2023 2Q is not indicated because there are no delutive potential shares
Fully-diluted EPS for FY2022 2Q is not indicated because EPS for FY2022 w as minus and there are no delutive potentialshares(2) Consolidated Financial Position
Total assets

Net assets

Shareholders' equity ratio(Unit: million yen)

(Unit: million yen)(%)

5,685,624
5,603,678

887,973
617,230

15.0
10.4

As of September 30, 2023
As of March 31, 2023

(Reference) Shareholders' equity : As of September 30, 2023 : 854,672 million yen

As of March 31, 2023: 582,064 million yen

2. Dividends
Annual dividends per share
1Q

2Q

3Q

Year-end

Total(Unit: yen)

(Unit: yen)

(Unit: yen)

(Unit: yen)

(Unit: yen)

FY2022 ended March 31, 2023

―

0.00

FY2023 ended March 31, 2024

―

0.00

FY2023 ending March 31, 2024 (forecast)

―

0.00

0.00

―

20.00

20.00

(Note) Revision of the devidend forecast : No
Dividends mentioned the above are regarding common shares. See 'Dividends for Class Shares' regarding dividends
for class shares which differ in shareholders' right from common shares.

3. Consolidated Financial Results Forecasts for FY2023 (April 1, 2023 to March 31, 2024)
Sales

Full-year

Operating profit

Profit attributable toowners of parent

Ordinary profit

EPS(Unit: million yen)(%)

(Unit: million yen)(%)

(Unit: million yen)(%)

(Unit: million yen)(%)

(Unit: yen)

2,150,000-3.2

190,000－

170,000－130,000－

265.27(Note) Revision of the consolidated financial results forecast : Yes
For the revision of the Forecas t of Financial Results, please refer to "1 Explanation of the Forecasts of Financial Results" on page 2.

※ Note(1)Changes in significant subsidiaries : No(changes in scope of specified subsidiaries)
Newly added: －Excluded: －(2) Adoption of methods specific in preparing quarterly consolidated financial statements in accounting practice : No
(3) Changes in accounting principles, changes in accounting estimates, restatement① Changes in accounting principles in line with revised accounting standards : No
② Changes in accounting principles other than ① : No
③ Changes in accounting estimates : No
④ Restatement : No
(4) Number of common stocks issued and outstanding① Total stocks including treasury stocks at the end of period
FY2023 2Q 474,183,951 shares
FY2022 474,183,951 shares② Treasury stocks at the end of period
FY2023 2Q 1,301,874 shares
FY2022 1,416,422 shares③ Average number of stocks during the period (Quarter Total)
FY2023 2Q 472,805,042 shares
FY2022 2Q 472,736,615 shares(Note) The number of our shares regarding "Board Benefit Trust (BBT)" held by the Trust was included in the number of treasury
stocks at the end of period ( 723,000 shares as of FY2023 2Q and 842,000 shares as of FY2022) . In addition, the numberof our shares held by the Trust was included in the number of treasury stocks, which was to be deducated from the calculationof the average number of stocks during the period. ( 803,000 shares for FY2023 2Q and 879,000 share for FY2022 2Q)*Quarterly financial results is not the object of quarterly review.
*Notes on the proper use of the forecasts
Looking-forward statements are based on information available at the date of the release of this document. Due to various factors, the actual
result may differ from these statements.
We will post supplementary materials for quarterly financial results on our website.

(Reference) Dividends for Class Shares
The breakdown of dividend for class shares which differ in shareholders' rights from common shares is as follows.
Class Bpreferred shares

1Q

2Q(Unit: yen)

FY2023 ended March 31, 2024
FY2023 ending March 31, 2024(forecast)―

Annual dividends per share
3Q
Year-end(Unit: yen)

(Unit: yen)

Total

(Unit: yen)

(Unit: yen)

1,933,333.00

1,933,333.00

0.00―(Note1) Revision of the dividend forecast : No
(Note2) The Company issued Class B preferred shares by way of third-party allotment on August 1,2023. Additionally, on the same day,the Company acquired and cancelled the Class A preferred shares.

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 2Q○Table of Contents of Attached Material

1. Explanation of the Forecasts of Financial Results ・・・・・・・・・・・・・・・・・・・・ 2
2. Quarterly Consolidated Financial Statements and Notes ・・・・・・・・・・・・・・・・・3(1) Quarterly Consolidated Balance Sheets ・・・・・・・・・・・・・・・・・・・・・・ 3(2) Quarterly Consolidated Income Statements
and Quarterly Consolidated Comprehensive Income Statements ・・・・・・・・・・・・ 5(3) Notes on Quarterly Consolidated Financial Statements ・・・・・・・・・・・・・・・・ 7(Notes on the premise of going concern)・・・・・・・・・・・・・・・・・・・・・ 7(Notes in case of drastic changes in the amount of equity)・・・・・・・・・・・・・・・ 7-1-

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 2Q

1. Explanation of the Forecasts of Financial ResultsIn terms of the Forecasts of Financial Results for FY2023, there is a change to the previous forecasts in light of
the latest supply-demand trends.
Sales are expected to be approximately ¥2,150 billion, falling below the previously announced forecast. The
decrease in sales is primarily caused by the following factors: a decrease in the total amount of electricity sales
volume and a decline in the unit price of electricity due to the fuel cost adjustment system.
Ordinary income is expected to be approximately ¥170 billion, exceeding the previous forecast, despite thedecrease in the total amount of electricity sales volume. The increase in ordinary income is caused by thefollowing factors: the decrease in purchased power costs caused by lower power prices on the wholesale
electricity market, as well as the expansion of the profit on the time lag of fuel cost adjustments.
Net income attributable to owners of the parent is expected to be approximately ¥130 billion, exceeding theprevious forecast.
The Forecasts of Financial Results for FY2023
Forecasts of Financial Results
Operatingprofit

SalesOrdinaryprofit

Profit attributable toowners of parent

EPS(Unit: million yen)

(Unit: million yen)

(Unit: million yen)

(Unit: million yen)

(Unit: yen)

2,250,000

140,000

120,000

90,000180.66

Revised forecast (B)2,150,000

190,000

170,000

130,000

265.27

Difference (B-A)-100,000

50,00050,00040,000

-4.4

35.7

41.7

44.4

2,221,300-72,998-86,634-56,429

Forecast previously announced (A)Rate of Change (%)
Results for FY2022 (reference)-123.81Main specifications table
Forecast previously
announced

Forecast announced

Results for FY2022(reference)

Difference

Retail electricity sales(billion kWh)

74.2

74.5

-0.3

76.5

Wholesale electricity quantity(billion kWh)

16.5

18.7

-2.2

19.4

90.7

93.2

-2.5

96

Crude Oil CIF Price ($/b)

8990-1

103

Exchange Rate (¥/$)

145

130

15135

31.7(90.7)

31.6(90.5)

0.1(0.2)

20.1(57.7)

Total (billion kWh)

Nuclear Power Utilization Rate (billion kWh)
(Transmission-end(%))

Note : Electricity sales volume represents our company and consolidated subsidiaries (Kyushu Electric Power
Transmission and Distribution Co.,Inc and Kyuden Mirai Energy Co.,Inc.) (internal transactions have beeneliminated).

-2-Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 2Q

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheets
As of March 31, 2023
AssetsNon-current assets
Electric utility plant and equipment
Hydroelectric power production facilities
Thermal power production facilities
Nuclear power production facilities
Internal combustion engine power production facilities
Renewable power production facilities
Renewable power production and related 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 fuelNuclear fuelLoaded nuclear fuelNuclear fuel in processing
Investments and other assets
Long-term investments
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Current assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets
Inventories
OtherAllowance for doubtful accounts
Total assets-3-

4,741,917
3,034,210
273,970
224,632
769,301
21,70821,406－
678,862
239,681663,456
131,155
10,036418,165
399,521248,184
35,041
116,295
224,372
50,122
174,249
665,647
263,961
12,537
172,337
218,252-1,441
861,761
295,450
196,439
159,420
214,031-3,581
5,603,678（ Unit： million yen）
As of September 30, 2023

4,765,363
3,004,468
271,228
213,069
746,118
20,218－21,279676,824240,233
664,068
141,447
9,979
415,934
435,817
282,459
32,789120,568
227,416
50,657
176,758
681,728
281,870
13,447156,271
230,504-366
920,260
331,350
187,276
160,388244,409-3,164
5,685,624

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 2Q

As of March 31, 2023
Liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Retirement benefit liability
Asset retirement obligations
Deferred tax liabilities
OtherCurrent liabilities
Current portion of non-current liabilities
Short-term borrowings
Commercial papers
Notes and accounts payable - trade
Accrued taxes
Provision for the levies related to Antimonopoly act
OtherReserves 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 adjustment
Remeasurements of defined benefit plans
Non-controlling interests
Total net assets
Total liabilities and net assets-4-（ Unit： million yen）
As of September 30, 2023

3,845,921
1,485,000
1,908,852
80,761
297,367
16,43757,501
1,138,006
443,506
124,530
40,000141,658
21,4072,762
364,140
2,519
2,519
4,986,448

3,760,521
1,410,000
1,867,310
81,299300,708
21,821
79,3801,034,453
468,780
128,410－85,67050,6902,762
298,1392,675
2,675
4,797,650

565,393237,304
120,006
209,734-1,651
16,6705,828
11,1506,455-6,76535,166617,230
5,603,678

812,544
237,304
195,559
381,203-1,52342,1288,106
22,991
16,639-5,60933,301
887,973
5,685,624

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 2Q(2) Quarterly Consolidated Income Statements and Quarterly Consolidated Comprehensive Income Statements(Quarterly Consolidated Income Statements)（ Unit： million yen ）Operating revenue
Electric utility operating revenue
Other business operating revenue
Operating expenses
Electric utility operating expenses
Other business operating expenses
Operating profit (loss)
Non-operating income
Dividend income
Interest income
Share of profit of entities accounted for using equity method
Other
Non-operating expenses
Interest expenses
Share issuance costs
Other
Total ordinary revenue
Total ordinary expenses
Ordinary profit (loss)
Provision or reversal of reserve for water shortage
Provision of reserve for water shortage
Reversal of reserve for water shortage
Extraordinary income
Gain on sale of securities
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit attributable to non-controlling interests
Profit (loss) attributable to owners of parent-5-April 1,2022September 30, 2022
1,010,682
892,139
118,542
1,086,381
974,791
111,589-75,699
14,610
698
544
3,826
9,540
16,772
12,734－
4,037
1,025,292
1,103,154-77,861-130－-130
11,28011,280-66,451
2,427-21,903-19,476-46,975701-47,676

April 1,2023September 30, 2023
1,085,316
945,449
139,867
877,718
751,582
126,136
207,598
13,888
573
1,179
5,753
6,381
21,97913,9154,762
3,300
1,099,205
899,697
199,507
155
155
－
－－
199,352
32,391
16,64549,037150,314469
149,845

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 2Q(Quarterly Consolidated Comprehensive Income Statements)（ Unit： million yen ）Profit (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests-6-

April 1,2022September 30, 2022
-46,975

April 1,2023September 30, 2023
150,314

1,294
12,683
9,343
-487
6,794
29,628-17,346

2,032
7,981
7,218
1,102
7,366
25,701
176,016-18,244897

175,303712

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2023 2Q(3) Notes on Quarterly Consolidated Financial Statements(Notes on the premise of going concern)
N/A(Notes in case of drastic changes in the amount of equity)
On August 1, 2023, the Company conducted a third-party allotment of Class B preferred shares (allocated toMizuho Bank, Ltd., Development Bank of Japan Inc., and MUFG Bank, Ltd. ). As a result, the Capital Stock andCapital Reserve increased by ¥100,000 million each. On the day of the issuance of the Class B preferred shares,
the Company reduced the Capital Stock and Capital Reserve by the same amount as the issuance price andtransferred it to Other Capital Surplus.
In addition, on that same day, the Company acquired and cancelled 1,000 shares of Class A preferred shares.
This resulted in a decrease of Other Capital Surplus by ¥102,822 million.
As a result of the above, Capital Surplus increased by ¥97,177 million during the consolidated cumulative
period of the second quarter.
As of the end of the second quarter of the consolidated fiscal year, the Share Capital is ¥237,304 million,
Capital Surplus is ¥195,559 million, and Retained Earnings is ¥381,203 million.

-7-