President’s message
To our shareholders and investors,
We would like to express our gratitude for your loyal patronage and continuous support for the Kyuden Group.
First of all, regarding our financial results for fiscal year 2022, we reported an ordinary loss of 86.6 billion and a net loss attributable to owners of the parent of 56.4 billion because of losses due to fuel cost adjustment system time lagdue to rising fuel prices, increased fuel costs due to reduced operation of nuclear power stations, and increased purchased power costs.
For FY2023, although fuel price trends are extremely uncertain due the situation in Ukraine and Russia, we expect ordinary income to be around 120 billion yen and net income attributable to owners of the parent to be around 90 billion yen, a significant improvement from the previous year's loss. This is mainly due to the increased operation of nuclear power plants and the fuel cost adjustment system time lag,which is expected to turn from losses to gains.
Although the business environment surrounding our company, including uncertainties infuel prices, is expected to continue to be challenging, we expect to be more resilient to the risk of fuel price hikes as nuclear power is able to operate stably.
We will continue our efforts to continuously improve the safety of nuclear power plants, as well as to enhance corporate value through measures such as strengthening our financial base and improving capital efficiency, in order to meet the expectations of our shareholders and other stakeholders.
We would like to ask for the understanding of all our shareholders and investors as we move toward our goals.
June 2023
President & Chief Executive Officer
