March 2, 2021
Company Name: Kyushu Electric Power Company Inc.
Name of Representative: Kazuhiro Ikebe
President & Chief Executive Officer(Code: 9508, First Section, Tokyo SE, Fukuoka SE)
Contact: Investor Relations Group, Corporate Strategy Division(Phone: +81-92-726-1575)

Revision of Financial Results Forecast for FY2020
We hereby announce that we have revised our financial results forecast for FY2020 (withdrawn onJanuary 29, 2021).
As for the year-end dividends for the FY2020, there is no change to the previous forecast (¥17.5
per common share, annual: ¥35 per common share).
1 Revision of financial results forecast
Revision of consolidated financial results forecast for FY2020 (April 1, 2020– March 31, 2021)
Sales

OperatingincomeOrdinary
incomeProfit attributableto owners ofparent(Unit: billion yen)

(Unit: billion yen)

(Unit: billion yen)

(Unit: billion yen)

EPS
(Unit: yen)

Forecast
previouslyannounced(A)

㸫㸫

㸫

㸫

Revised forecast(B)

2,130.000

60.00035.00022.000Difference

(B-A)

㸫㸫

㸫㸫㸫

Ratio(%)

㸫㸫

㸫㸫

㸫

2,013.050

63.81340.052- 0.419(Reference)
Results for FY2019

2㸫42.07-6.05

Reasons for revision
In early January extreme cold weather caused the supply-demand balance to become tight, leading
power prices to soar on Japan’s wholesale market. This situation impacted the performance of thepower generation and retail sales business and due to the uncertainty of its duration, it was difficult
to make a sufficiently reliable forecast of the consolidated earnings for FY2020, and subsequently
the earnings forecast was withdrawn.
We hereby announce the revised earnings forecast based on recent supply-demand trends etc.

(Reference: Key Factor)
Retail electricity sales
volumeWholesale electricitysales volume
Total electricity Sales
VolumeCrude Oil CIF Price
Exchange Rate
Nuclear Power [Transmission-end](Capacity factor of nuclear power plants)

RevisedPreviously
announced

Difference

75.3 billion kWh*㸫㸫10.0 billion kWh㸫㸫85.3 billion kWh㸫㸫

42 $/b㸫㸫

106 ¥/$㸫

㸫

21.6 billion kWh(62.1%)

㸫㸫

㸫
㸫

Note:

Electricity sales volume represents our company and consolidated subsidiaries (Kyushu Electric Power
Transmission and Distribution Company Inc. and Kyuden Mirai Energy Company Inc.) (internal transactions
have been eliminated).
* Impact of the corona virus -2.0 billion kWh (no change to the previous estimate)

Note:

The forward-looking statements are based on information available as of the date hereof. Actual results could
differ due to numerous factors.

“Enlighten Our Future”
KYUDEN GROUP’s Mission is to contribute toward
the realization of a comfortable and environment-friendly lifestyle
today and for generations to come.

(Reference)
Financial Results Forecast for FY2020* (compared with the figures announced in October)*April 1, 2020– March 31, 2021Ordinary income is expected to be about 35 billion yen, which is about 10 billion yen lower thanthe earnings forecast announced in October 2020 (withdrawn in January 2021). This change is a
result of increased power purchase costs caused by sudden surges in prices on the wholesale market
amid the tight supply-demand balance last winter. By cost reductions we are working to offset thisloss and to strengthen our balance sheet.
㹙Main Factors Affecting Ordinary Income㹛(Billion of Yen)

+5.0
-33.0
45.0

Increase in purchased
power from Japan’swholesale market

35.0

Others

+7.0

Consolidated
Ordinary Income(announced inOctober)

Increase inprofits ofsubsidiaries+11.0(-10.0)Decrease in
miscellaneous costand fixed asset
retirement cost

Factors related to Japanese electric power business

Consolidated
Ordinary Income(Revised)

Other factors(Consolidated)
Previously announced
Revised(in October)
2,130.0
2,060.0

Sales70.0(Billion of Yen)
Rate of change(%)
3.4

Difference

Operating Income

60.0

70.0

-10.0

-14.3

Ordinary Income
Net Income attributable toowners of the parent

35.0

45.0

-10.0-22.2

22.030.0-8.0-26.7(Reference: Key Factor)
Retail electricity sales
volumeWholesale electricity sales
volumeTotal electricity Sales Volume
Crude Oil CIF Price

RevisedPreviously announced(in October)

Difference

75.3 billion kWh*75.1 billion kWh

0.2 billion kWh10.0 billion kWh10.3 billion kWh-0.3 billion kWh85.3 billion kWh85.4 billion kWh-0.1 billion kWh

42 $/b

42 $/b㸫

Exchange Rate
Nuclear Power [Transmission-end]

106 ¥/$106 ¥/$㸫21.7 billion kWh-0.1 billion kWh
21.6 billion kWh(Capacity factor of nuclear power plants)(62.1%)(62.4%)(-0.3%)
Note: Electricity sales volume represents our company and consolidated subsidiaries (Kyushu Electric Power
Transmission and Distribution Company Inc. and Kyuden Mirai Energy Company Inc.) (internal transactions
have been eliminated).
*Impact of the corona virus -2.0 billion kWh (no change to the previous estimate)