July 31, 2024
The 1st Quarter of the Fiscal Year Ending March 31, 2025 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
Date to start dividend payments: －Preparation of supplementary materials for financial results: Yes
Information meeting for financial results: No

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, 2024 to June 30, 2024)(1) Consolidated Operational Results(% show s the changes from the same quarter period of the previous FY)

SalesOperating income

Profit attributable toowners of parent

Ordinary income(Unit: million yen)(%)

(Unit: million yen)(%)

(Unit: million yen)(%)

(Unit: million yen)(%)

501,180
496,5240.9
13.7

49,844
100,218-50.3

51,114
100,688-49.2

36,641
71,457-48.7

April 1, 2024 - June 30, 2024
April 1, 2023 - June 30, 2023－－
FY2023 1Q 78,461 million yen (－%)

(Note) Comprehensive income : FY2024 1Q 50,554 million yen (-35.6%)

EPS－

Fully-diluted EPS(Unit: yen)

(Unit: yen)

74.42
150.02

April 1, 2024 - June 30, 2024
April 1, 2023 - June 30, 2023－－

(Note) Fully-diluted EPS for FY2024 1Q and FY2023 1Q are not indicated because there are no delutive potential shares(2) Consolidated Financial Position
Total assets

Net assets

Shareholders' equity ratio(Unit: million yen)

(Unit: million yen)(%)

5,664,586
5,727,240

955,551
921,043

16.3
15.5

As of June 30, 2024
As of March 31, 2024

(Reference) Shareholders' equity: As of June 30, 2024 924,981 million yen As of March 31, 2024 890,529 million yen

2. Dividends
Annual dividends per share

FY2023 ended March 31, 2024
FY2024 ended March 31, 2025
FY2024 ending March 31,2025(forecast)

1Q

2Q

3Q

(Unit: yen)

(Unit: yen)

(Unit: yen)－－

Year-end

Total(Unit: yen)

(Unit: yen)

0.00

－

25.00

25.00

25.00

－

25.00

50.00

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

3. Forecast of Financial result for FY2024 (April 1, 2024 to March 31, 2025)
Sales(Unit: million yen)

Full-year

2,200,000

Operating income(%) (Unit: million yen)

2.8

(Note) Revision of the consolidated financial results forecast : No

130,000

Profit attributable toow ners of parent

Ordinary income(%) (Unit: million yen)

-49.0

110,000(%) (Unit: million yen)

-53.8

80,000Net earnings
per share(%)(Unit: yen)

-51.9

156.91※ Note(1)Significant changes in scope of consolidation : No
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 : Yes③ 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
FY2024 1Q 474,183,951 shares
FY2023474,183,951 shares② Treasury stocks at the end of period
FY2024 1Q
1,310,442 shares
FY2023
1,307,901 shares③ Average number of stocks during the period
FY2024 1Q 472,874,243 shares
FY2023 1Q 472,766,566 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 FY2024 1Q and 723,000 shares as of FY2023) . In addition, the number ofour shares held by the Trust was included in the number of treasury stocks, which was to be deducated from the calculation of
the average number of stocks during the period. (723,000 shares for FY2024 1Q and 842,000 shares for FY2023 1Q)*Review of the accompanying quarterly consolidated financial statements by a certified public accountant or auditing firm : No
*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, theactual result may differ from these statements.
We will post supplementary materials for 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(Unit: yen)

FY2023 ended March 31, 2024―

FY2024 ended March 31, 2025―

FY2024 ending March 31,
2025 (f orecast)(Note) Revision of the dividend forecast : No

2Q

Annual dividends per s hare
3Q

(Unit: yen)

(Unit: yen)

Year-end

Total(Unit: yen)

(Unit: yen)

0.00

―

1,933,333.00

1,933,333.00

1,450,000.00―

1,450,000.00

2,900,000.00

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2024 1Q○ Table of Contents of Attached Material
1.

Summary of Business 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(Change in accounting policy)・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 7(Notes to Segment Information)・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 7(Notes in case of drastic changes in the amount of equity)・・・・・・・・・・・・・・・・・・・・・・ 8(Notes on the premise of going concern)・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 8(Notes to Statements of Cash Flows)・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 8(Additional Information)・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 9

Please note that this purports to be an accurate and complete translation of the original Japaneseversion prepared for the convenience of our English-speaking audience. However, in the case of any
discrepancy between the translation and the Japanese original, the latter shall prevail.

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Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2024 1Q

1. Summary of Business Results
This information is included in the “Financial Results for FY2024 1Q” disclosed on the Company's website today.
URL：https://www.kyuden.co.jp/english_ir_library_index.html-2-

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2024 1Q

2. Quarterly Consolidated Financial Statements and Notes（1） Quarterly Consolidated Balance Sheets
As of March 31, 2024
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 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
Other
Allowance for doubtful accounts
Total assets-3-

4,799,251
3,055,350
270,935
203,932
758,883
25,65742,260682,793
243,593
669,537
147,833
9,923
387,658
456,893291,50930,537
134,846
233,961
45,277
188,683
665,386
259,435
19,991
148,191
238,903-1,134
927,988392,761
182,421130,018
225,339-2,552
5,727,240（ Unit： million yen ）As of June 30, 2024

4,831,024
3,027,576
269,750
200,075
730,145
25,48142,057
682,522
244,435
669,395
153,815
9,896
386,034
487,988
313,965
31,908142,114232,074
47,610184,464
697,351
273,934
20,463
136,192
267,955-1,194
833,561
228,938
206,585
125,381275,266-2,611
5,664,586

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2024 1Q

As of March 31, 2024
Liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Contribution payable for nuclear reactor decommissioning
Retirement benefit liability
Asset retirement obligations
Deferred tax liabilities
Other
Current liabilities
Current portion of non-current liabilities
Short-term borrowings
Commercial papers
Notes and accounts payable - trade
Accrued taxes
Other
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 adjustment
Remeasurements of defined benefit plans
Non-controlling interests
Total net assets
Total liabilities and net assets-4-3,684,914
1,405,000
1,819,197（ Unit： million yen ）As of June 30, 2024－
60,154300,002
16,67583,883
1,119,049
426,273
123,410－
127,846
63,496
378,0212,232
2,232
4,806,196

3,719,116
1,465,000
1,819,807
264,742
58,4089,177
18,44583,534
987,136
399,351
124,81035,000132,829
16,728278,415
2,781
2,781
4,709,034

827,098
237,304
193,520
397,802-1,52963,431
10,052
24,781
13,325
15,271
30,513921,043
5,727,240

848,021237,304
193,520
418,729-1,53376,96010,931
31,84919,602
14,57730,569955,551
5,664,586

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2024 1Q(2) Quarterly Consolidated Income Statements and Quarterly Consolidated Comprehensive Income Statements(Quarterly Consolidated Income Statements)（ Unit ： million yen ）April 1,2023June 30, 2023
Operating revenue
Electric utility operating revenue
Other business operating revenue
Operating expenses
Electric utility operating expenses
Other business operating expenses
Operating profit
Non-operating income
Dividend income
Interest income
Foreign exchange gains
Share of profit of entities accounted for using equity method
Other
Non-operating expenses
Interest expenses
Other
Total ordinary revenue
Total ordinary expenses
Ordinary profit
Provision or reversal of reserve for water shortage
Provision of reserve for water shortage
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-5-

April 1,2024June 30, 2024
496,524442,525
53,998396,305
346,607
49,698100,218
8,557
249
557
2,265
3,719
1,766
8,087
6,881
1,205
505,082
404,393
100,688
211
211
100,477
11,884
16,91528,79971,678220
71,457501,180
444,316
56,863451,335
399,004
52,33049,844
10,566
266
844
3,140
4,263
2,050
9,296
7,119
2,177
511,746
460,632
51,114548
548
50,565
1,330
12,333
13,66436,900259
36,641

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2024 1Q(Quarterly Consolidated Comprehensive Income Statements)（ Unit： million yen ）April 1,2023June 30, 2023
ProfitOther 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 1,2024June 30, 2024
71,67836,900

1,241
3,603
412
550
975
6,783
78,461

957
4,034
5,307
-689
4,043
13,65350,55478,195266

50,170383

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2024 1Q(3) Notes on Quarterly Consolidated Financial Statements(Change in accounting policy)
Due to the transfer of our geothermal business to our consolidated subsidiary, Kyuden Mirai Energy Co., Ltd., on
April 1, 2024, Kyuden Mirai Energy Co., Ltd. has adopted the “Electric Utility Accounting Regulations” from the startof the current consolidated first quarter. Regarding the accounting treatment of lighting and power charges, the methodof recording the charges calculated based on the usage measured by monthly meter readings as sales (operating
revenue) for the month (hereinafter referred to as the “meter reading date basis”) has been adopted, and the accounttitles are displayed in accordance with the “Electric Utility Accounting Regulations”.
To reflect this change in accounting policy, the ¥23,860 million that was included in “Other non-current assets”
under “Non-current assets” in the consolidated balance sheet of the previous consolidated fiscal year has been
reclassified as “Electric utility plant and equipment.” Additionally, in the consolidated statement of income for the firstquarter of the previous consolidated fiscal year, the ¥14,409 million that was included in “Other business operating
revenue” under “Operating revenue” has been reclassified as “Electric utility operating revenue” and the ¥10,803
million that was included in “Other business operating expenses” under “Operating expenses” has been reclassified as“Electric utility operating expenses”. The impact of the change to the meter reading date basis is minimal.

(Notes to Segment Information)
Ⅰ Previous quarterly consolidated fiscal year (April 1, 2023 to June 30, 2023)
Information regarding sales and profits by Reportable segment(Unit: millions of Yen)
Reportable segment
Energy services
Japanese electric power

Urban
ICT services
Developmen
businessest Businesses

Reconciliation*2

Quart erly
consolidated
financialstatements*
3

430,914－430,91465,609－65,6091,015

496,524－

496,524

Overseas
Businesses

Ot herenergyservicesbusinesses

39,629229

28,194

19,9591,057

429,899

1,015

8,496

848

352

299

2,045

65,609－394,396

48,125

1,077

28,547

20,2583,102

495,509

Power andRetailbusinesses

T ransmission andDistribution
businesses

340,82953,567

T otalOt her*1

T otalSales
Revenue from contracts wit hcustomers
Ot her revenue*4
Sales to out side customers
Inter-segment sales
T otalSegment income

33,777104,394－

32,750

7,742

2,452

181,116

1,184

182,301-182,301－

428,174

152,519

1,077

61,29728,0005,555

676,626

2,200

678,826-182,301

496,524

78,184

12,866

2,612

5,272

445

1,332

100,713

115

100,829-140

100,688*1 The "Other" segment is a business segment that is not included in the reportable segments and includes thefee-based nursing home business, outsourcing office work business and temporary staffing business.
*2 Reconciliation of Segment income (¥-140 million) is intersegment transaction eliminations.
*3 Segment income is adjusted to reflect ordinary income in the quarterly consolidated statements of incomes.
*4 In the ‘Other Revenues’ of the ‘Power and Retail businesses’, ‘Transmission and Distribution businesses’, ‘Other
energy services businesses’, and ‘ICT services businesses’, subsidies received from ‘the national government
based on their measures to mitigate sharp fluctuations in electricity and gas rates’, a measure based on the ‘theComprehensive Economic Measures for Overcoming Price Increases and Revitalizing the Economy’, areincluded, amounting to ¥53,409 million, ¥1,500 million, ¥329 million, and ¥29 million respectively.

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Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2024 1Q

Ⅱ Current quarterly consolidated fiscal year (April 1, 2024 to June 30, 2024)
Information regarding sales and profits by Reportable segment(Unit: millions of Yen)
Reportable segment
Energy services
Japanese electric power

Urban
ICT services
Developmen
businessest Businesses

Overseas
Businesses

Otherenergyservicesbusinesses

43,746

223

30,116

21,532

1,068

469,016

1,008

4,821

658

180

240

1,843

31,15548,568882

30,296

21,772

2,912

500,171－
1,008

Power andRetailbusinesses

T ransmission andDistribution
businesses

372,328
23,410395,739

T otalOther*1

Reconciliation*2

Quarterly
consolidated
financialstatements*
3

470,024－470,024

31,155501,180－－

501,180

T otalSales
Revenue from contracts withcustomers
Other revenue*4
Sales to outside customers
Inter-segment sales
T otalSegment income

31,15536,223

107,091－

33,944

6,441

2,764

186,465

1,377

187,843-187,843－

431,963

155,660

882

64,241

28,214

5,676

686,6372,385

689,023-187,843

501,180

34,852

6,026

1,880

6,819

734

900

51,214

111

51,326-211

51,114*1 The "Other" segment is a business segment that is not included in the reportable segments and includes thefee-based nursing home business, outsourcing office work business and temporary staffing business*2 Reconciliation of Segment income (¥-211 million) is intersegment transaction eliminations.
*3 Segment income is adjusted to reflect ordinary income in the quarterly consolidated statements of incomes.
*4 In the ‘Other Revenues’ of the ‘Power and Retail businesses’, ‘Transmission and Distribution businesses’,‘Other energy services businesses’, and ‘ICT services businesses’, subsidies received from ‘the national
government based on their measures to mitigate sharp fluctuations in electricity and gas rates’, a measure basedon the ‘Comprehensive Economic Measures to End Deflation Completely’ are included, amounting to ¥23,319
million, ¥459 million, ¥129 million, and ¥13 million respectively.

(Notes in case of drastic changes in the amount of equity)
N/A(Note on the premise of going concern)
N/A(Notes to Statements of Cash Flows)
The consolidated cash flow statement for the first quarter of the fiscal year has not been prepared. Depreciation(including amortization related to intangible assets excluding goodwill) and Amortization of nuclear fuel impairment for
the first quarter are as follows.

Depreciation
Amortization of nuclear fuelPrevious quarterly consolidated fiscal year
(April 1, 2023 to June 30, 2023)¥54,922 million¥6,315 million-8-

Current quarterly consolidated fiscal year
(April 1, 2024 to June 30, 2024)¥54,764 million¥5,898 million

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2024 1Q(Additional Information)(The revision of the Electric Utility Accounting Regulations due to the enforcement of “Act for Partial Revision of theElectricity Business Act and Other Acts for Establishing Electricity Supply Systems for Realizing a DecarbonizedSociety”
On April 1, 2024, the “Act for Partial Revision of the Electricity Business Act and Other Acts for Establishing
Electricity Supply Systems for Realizing a Decarbonized Society” (Act No. 44 of 2023, hereinafter referred to as the“Revised Act”) and the “Ordinance for the Arrangement of Related Ministerial Ordinances, etc. due to the
Enforcement of the Act for Partial Revision of the Electricity Business Act and Other Acts for Establishing Electricity
Supply Systems for Realizing a Decarbonized Society” (Ordinance No. 21 of the Ministry of Economy, Trade andIndustry of 2024, hereinafter referred to as the “Revised Ordinance”) were enforced. As a result, the “Ordinance on the
Reserve Fund for the Reserve for Decommissioning of Nuclear Power Generation Facilities” (Ordinance No. 30 of the
Ministry of International Trade and Industry of 1989, hereinafter referred to as the “Decommissioning Ordinance”)
was abolished, and the Electric Utility Accounting Regulations were revised.
The costs necessary for the decommissioning of commercial nuclear power reactors were traditionally recorded as
Asset Retirement Obligations. For assets corresponding to these obligations, the “Guidance on Accounting Standard
for Asset Retirement Obligations” (Implementation Guidance No. 21, March 25, 2011) Section 8 was applied. Basedon Decommissioning Ordinance, the total estimated cost of decommissioning nuclear power generation facilities wascalculated annually using the formula specified in the Guidelines for Handling Reserve Funds for theDecommissioning of Nuclear Power Generation Facilities (a method for estimating costs based on the types andquantities of waste generated by decommissioning). This amount was then recorded using the straight-line method
over the expected operational period of the power generation facilities. However, from the enforcement date of the
Revised Ordinance, the decommissioning contributions stipulated in Article 11, Paragraph 2 of the “Act on the
Implementation of Reprocessing of Spent Fuel and Promotion of Decommissioning in Nuclear Power Generation” asamended by Article 3 of the Revised Act will be recorded as electricity business operating expenses.
Nuclear operators have traditionally been responsible for securing funds for the decommissioning of their own
commercial power reactors. Under the Revised Act, they will fulfill their cost burden responsibility by paying
decommissioning contributions to the Nuclear Reprocessing Organization of Japan (hereinafter referred to as the“Organization”) annually. The Organization will then bear the economic responsibility for securing, managing, anddisbursing the funds necessary for decommissioning.
As a result, during the first quarter of the current consolidated accounting period, Asset retirement obligation-related
assets of ¥18,995 million and Asset retirement obligations of ¥291,011 million have been reversed. In accordance with
Article 10, Paragraph 1 of the Supplementary Provisions of the Revised Act, the amount of ¥274,782 million that mustbe paid to the Organization for the costs of decommissioning promotion operations has been recorded as Contribution
payable for nuclear reactor decommissioning in accordance with Article 7 of the Supplementary Provisions of the
Revised Ordinance. This has no impact on profit and loss. Of this amount, ¥10,039 million has been reclassified as
Current portion of non-current liabilities. Additionally, ¥2,765 million has been recorded in Special account related tonuclear power decommissioning account in accordance with Article 8 of the Supplementary Provisions of the Revised
Ordinance.

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