The Kansai Electric Power Company, Incorporated (9503) Earnings Call Transcripts

The Kansai Electric Power Company, Incorporated's Latest Earnings Call - May 1, 2026

In the fiscal year 2025, Kansai Electric Power Company reported consolidated revenue of JPY 4,056.6 billion and recurring profit of JPY 518.5 billion, both reflecting a decline from the previous year. For fiscal year 2026, the company anticipates a significant drop in recurring profit to JPY 290 billion, down JPY 228.5 billion year-over-year, primarily due to unfavorable foreign exchange movements, fuel price fluctuations, and increased maintenance costs. Despite these challenges, management has raised the annual dividend to JPY 80 per share, signaling a commitment to shareholder returns amidst a tough operating environment.

Reported metrics

Guidance from management

Management expects recurring profit to decline to JPY 290 billion in FY 2026, with a focus on disciplined investments and cost management. The annual dividend is set to increase to JPY 80 per share, reflecting a commitment to shareholder returns despite challenging conditions.

What management said

Yes, what you said is correct. So the profit we can -- profit outlook we can show is as it is. But in order to achieve our vision for the future and as we as we try to get understanding from our shareholders of what we are going to do to achieve that. So now we are going to increase our dividend per share to JPY 80. We think it's appropriate to increase our dividend per share to JPY 80. There are different perspectiv...

So for liberated the prices, each KEPCO companies are developing the schemes so that they can address the changes of the business environment. I understand that. But how we are going to set liberated price. we do need to have a good way to think about those prices. We cannot really specify what directions we will head to. But I think it's important as we will monitor what the other KEPCO companies do, we will compare...

What analysts pressed on

Analysts expressed concerns about the ambitious profit targets given the expected decline in nuclear capacity and rising costs. There were questions regarding the company's ability to achieve its ROE target of over 8% amidst these challenges, as well as the timing and effectiveness of their growth investments.

Main topics on the call

• Decline in Recurring Profit — Kansai Electric expects a recurring profit of JPY 290 billion for FY 2026, a decrease of JPY 228.5 billion from FY 2025. CEO Mori stated, "the main factors for profit declines are foreign exchange movement, fuel price fl...
• Increased Dividend — The company plans to increase the annual dividend to JPY 80 per share, up from JPY 75 in FY 2025. Mori emphasized, "we think it's appropriate to increase our dividend per share to JPY 80," indicating a focus on returning...
• Challenging Operating Environment — Management acknowledged that earnings conditions remain challenging due to geopolitical risks, inflation, and rising interest rates. Mori noted, "Although earnings conditions remain challenging, we will continue steady i...
• Long-term Investment Strategy — Kansai Electric plans to invest JPY 15 trillion cumulatively by 2040, focusing on maintenance and growth investments. Tanaka highlighted the importance of "disciplined investments" to secure future profitability.

Read the full The Kansai Electric Power Company, Incorporated transcript (May 1, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 1 The Kansai Electric Power Company, Incorporated earnings call transcript on record, spanning May 1, 2026 to May 1, 2026. The most recent call on file is dated May 1, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

9503

Exchange

TSE

Country

JP

Sector

Utilities

Industry

Electric Utilities

Calls on record

1

First call

May 1, 2026

Most recent

May 1, 2026