January 31, 2023
The 3rd Quarter of the Fiscal Year Ending March 31, 2023 Financial Results Overview 〔Japan GAAP〕（Consolidated）

Kyushu Electric Power Co., Inc.
Stock code: 9508 URL: https://www.kyuden.co.jp/english_index.html
Stock listed on: Tokyo SE, Fukuoka SE
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): February 10, 2023
Date to start dividend payments: －Preparation of supplementary materials for quarterly financial results: Yes
Information meeting for quarterly financial results: No(Rounded down to the nearest million yen)

1. Consolidated Financial Results for the Three Months (April 1, 2022 to December 31, 2022)(1) Consolidated Operational Results(% shows the changes from the same quarter period of the previous FY)

SalesApril 1, 2022 - December 31, 2022
April 1, 2021 - December 31, 2021

Operating profit(Unit: million yen)(%)

1,567,510
1,196,797

31.0
11.9

(Unit: million yen)

(Note) Comprehensive income : FY2022 3Q -59,684 million yen ( - %)(Unit: million yen)(%)

(Unit: million yen)-120,588 －
74,482 -13.6(%)-130,554 －
59,319 -19.6

FY2021 3Q 41,979 million yen (-28.1%)

Profit attributable toowners of parent
April 1, 2022 - December 31, 2022
April 1, 2021 - December 31, 2021

Ordinary profit

EPS

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

-89,431 －35,927 -35.0-192.51
72.64(Unit: yen)－64.18(Note) Fully-diluted EPS for FY2022 3Q is 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)(%)

5,649,134
5,342,350

608,424
676,337

10.2
12.1

As of December 31, 2022
As of March 31, 2022

(Reference) Shareholders' equity : As of December 31, 2022 : 573,981 million yen

As of March 31, 2022: 645,497 million yen

2. Dividends
Annual dividends per share

FY2021 ended March 31, 2022
FY2022 ended March 31, 2023

1Q

2Q

3Q

Year-endTotal(Unit: yen)

(Unit: yen)(Unit: yen)

(Unit: yen)

(Unit: yen)

――

20.00
0.00

――

FY2022 ending March 31, 2023(forecast)

20.00

40.00

0.00

0.00

(Note) Revision of the devidend forecast : Yes
For the revision of the Forecast of Dividends, please refer to "(2) Forecasts of Dividends" on page 3.
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 FY2022 (April 1, 2022 to March 31, 2023)
Sales(Unit: million yen)

Full-year

2,250,000

Operating profit(%) (Unit: million yen)

29.1

-90,000

Profit attributable toowners of parent

Ordinary profit(%) (Unit: million yen)―-100,000(%) (Unit: million yen)―

-75,000(%)―(Note) Revision of the consolidated financial results forecast : Yes
For the revision of the Forecast of Financial Results, please refer to "(1) Forecasts of Financial
Results" on page 2.

EPS(Unit: yen)

-158.66

※ 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 : Yes② Changes in accounting principles other than ① : No
③ Changes in accounting estimates : No
④ Restatement : No(Note) For details, see "(3) Notes on Quarterly Consolidated Financial Statements :Changes in accounting policies" on Page 8.

(4) Number of common stocks issued and outstanding① Total stocks including treasury stocks at the end of period
FY2022 3Q 474,183,951 shares
FY2021 474,183,951 shares② Treasury stocks at the end of period
FY2022 3Q 1,414,741 shares
FY2021 1,463,267 shares③ Average number of stocks during the period (Quarter Total)
FY2022 3Q 472,747,670 shares
FY2021 3Q 472,894,359 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 ( 842,000 shares as of FY2022 3Q and 897,000 shares as of FY2021) . 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. ( 867,000 shares for FY2022 3Q and 730,000 share for FY2021 3Q)*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, theactual 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 Apreferred shares
FY2021 ended March 31, 2022
FY2022 ended March 31, 2023
FY2022 ending March 31, 2023
(forecast)

1Q

2Q(Unit: yen)

(Unit: yen)――

Annual dividends per share
3Q
Year-end

1,050,000.00
0.00(Unit: yen)――Total(Unit: yen)

(Unit: yen)

1,050,000.00

2,100,000.00

0.00

0.00

(Note 1) Revision of the dividend forecast : Yes
For the revision of the Forecast of Dividends, please refer to "(2) Forecasts of Dividends" on page 3.

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 3Q○Table of Contents of Attached Material

1. Explanation of the Forecasts of Financial Results and Dividends ・・・・・・・・・・・・・・

2(1) Forecast of Financial Results ・・・・・・・・・・・・・・・・・・・・・・・・・

2(2) Forecast of Dividends ・・・・・・・・・・・・・・・・・・・・・・・・・・・・

3

2. Quarterly Consolidated Financial Statements and Notes ・・・・・・・・・・・・・・・・・・ 4(1) Quarterly Consolidated Balance Sheets ・・・・・・・・・・・・・・・・・・・・・・ 4(2) Quarterly Consolidated Income Statements
and Quarterly Consolidated Comprehensive Income Statements ・・・・・・・・・・・・ 6(3) Notes on Quarterly Consolidated Financial Statements ・・・・・・・・・・・・・・・・ 8(Notes on the premise of going concern)・・・・・・・・・・・・・・・・・・・・・ 8(Notes in case of drastic changes in the amount of equity)・・・・・・・・・・・・・・・ 8(Changes in accounting policies) ・・・・・・・・・・・・・・・・・・・・・・・・・ 8-1-

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 3Q

1. Explanation of the Forecasts of Financial Results and Dividends(1) Forecast of Financial Results
Although we had been undecided about the forecasts of consolidated financial results for FY 2022, we informthe forecasts with the certain assumptions based on the financial results for the 3rd quarter of FY2022 and therecent situation.
The Forecasts of Financial Results for FY2022
Forecasts of Financial Results
OperatingprofitSales

Forecast previously
announced (A)(Unit: million yen)

Revised forecast (B)2,250,000―

Ordinary
profit(Unit: million yen)―

Profitattributable toowners ofparent(Unit: million yen)―
-90,000(Unit: million yen)―
-100,000

EPS(Unit: yen)―
-75,000-158.66

Difference (B-A)

―

―

―

―

―

Rate of Change (%)
Results for FY2021(reference)

―

―

―

―

―

1,743,310

48,62432,384

6,873

10.09

Main specifications table
Results for FY2021(reference)

Forecast announced
Retail electricity sales
Wholesale electricityquantity
Total
Crude Oil CIF Price
Exchange Rate
Nuclear Power Utilization
Rate (Transmission-end)

76.7 billion kWh79.4 billion kWh

19.2 billion kWh

17.8 billion kWh

95.9 billion kWh
103 $/b135 ¥/$19.8 billion kWh(56.9%)

97.3 billion kWh
77 $/b112 ¥/$31.9 billion kWh(91.4%)

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 been
eliminated).

-2-Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 3Q(2) Forecast of Dividends
The year-end dividend forecast for FY2022 both common shares and class A preferred shares had not been
decided due to the uncertain outlook for fuel prices as a result of the situation in Russia and Ukraine and recent
sudden fluctuations in exchange rates.
Although we have made every effort possible to maintain stable dividends, we deeply regret to inform you that
we will not be able to pay year-end dividends for both common shares and class A preferred shares based on thefinancial results forecast for FY2022 and other factors.

･Common shares

Previously forecast
Revised forecast
Results for FY2022
Results for FY2021

Annual dividends per share
InterimYear-end
Total
¥0.00
――
―
¥0.00
¥0.00
¥0.00
――
¥20.00¥20.00¥40.00･Class A preferred shares

Previously forecast
Revised forecast
Results for FY2022
Results for FY2021

Annual dividends per share
InterimYear-end
Total
¥0.00
―――
¥0.00
¥0.00
¥0.00
――
¥1,050,000.00¥1,050,000.00¥2,100,000.00-3-Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 3Q

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheets
As of March 31, 2022
AssetsNon-current assets
Electric utility plant and equipment
Hydroelectric power production facilities
Thermal power production facilities
Nuclear power production facilities

4,610,160
2,692,039
260,131250,797547,791
21,203
22,537568,024
226,268
655,095
130,080
10,110416,994673,257
538,837
39,544
94,874
222,399
36,262
186,136
605,469
246,352
26,623
140,727
193,114-1,348732,189
261,660
177,827
101,699
195,979-4,977
5,342,350

Internal combustion engine power production facilities

Renewable 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 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-4-（Unit：million yen）
As of December 31, 2022
4,724,384
2,984,920
269,622
231,362
728,815
21,257
21,858680,510234,121659,363
127,954
10,054
418,818
397,582259,397
36,167102,017
222,685
53,488169,196
700,376
279,731
28,127
181,087
212,664-1,233924,750
265,950
233,877
184,882
243,622-3,5825,649,134

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 3Q

As of March 31, 2022
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-5-（Unit：million yen）
As of December 31, 2022

3,582,972
1,399,999
1,737,265
85,946289,103
12,89957,7581,075,425
399,638
120,810－
142,614
19,798－392,5647,613
7,613
4,666,012

3,893,026
1,521,100
1,919,534
82,071
294,118
19,54956,652
1,140,457
421,868
130,630
99,000128,286
18,437
2,762
339,4727,226
7,226
5,040,709

632,987
237,304
120,006
277,382-1,706
12,5094,104
4,723-1,383
5,066
30,840676,337
5,342,350

533,082
237,304
120,006
177,421-1,65040,8995,092
17,754
13,607
4,444
34,442
608,424
5,649,134

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 3Q(2) Quarterly Consolidated Income Statements and Quarterly Consolidated Comprehensive Income Statements(Quarterly Consolidated Income Statements)（Unit：million yen）
April 1,2021December 31, 2021
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
Gain on sale of goods
Share of profit of entities accounted for using equity method
Other
Non-operating expenses
Interest expenses
OtherTotal ordinary revenue
Total ordinary expenses
Ordinary profit (loss)
Provision or reversal of reserve for water shortage
Reversal of reserve for water shortage
Extraordinary income
Gain on sale of securities
Extraordinary losses
Loss on return of electric imbalance charge
Provision of allowance loss related to the Antitrust law
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-6-

1,196,797
1,015,564
181,232
1,122,314948,959
173,354
74,482
11,323
585
620
968
3,764
5,384
26,486
18,496
7,989
1,208,120
1,148,801
59,319
-226
-226
－
－
3,979
3,979
－
55,567
9,596
8,905
18,50237,064
1,137
35,927

April 1,2022December 31, 2022
1,567,510
1,380,398
187,112
1,688,099
1,516,199
171,900-120,588
16,654
1,250
869
3,951
6,995
3,587
26,62019,406
7,213
1,584,165
1,714,719-130,554-387-387
11,28011,280
2,762
－
2,762
-121,648
3,215-36,467-33,251-88,397
1,034-89,431

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 3Q(Quarterly Consolidated Comprehensive Income Statements)（Unit：million yen）
April 1,2021December 31, 2021
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-7-April 1,2022December 31, 2022

37,064-88,397486
1,956
1,465-410
1,416
4,914
41,979845
7,080
12,204-720
9,302
28,712-59,684

40,875
1,104-61,0421,357

Kyushu Electric Power Co., Inc. (9508)
Financial Results Overview for FY2022 3Q(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)
N/A(Changes in accounting policies)
We have applied "ASBJ Guidance No. 31 Implementation Guidance on Accounting Standard for Fair Value
Measurement" as of the start of the first quarter of the current fiscal year, beginning April 1st, 2022.
The new accounting policy is applied prospectively in accordance with the transitional treatment as
described in Paragraph 27-2 of the Standard.
The impact of this change is minimal.

-8-