Tokyo Electric Power’s Ordinary Income Falls 67.9% to 90,629 Million Yen in First Half
Key Facts
Tokyo Electric Power Company Holdings announced on October 29, 2026, its interim results for the first half of fiscal 2026, covering the period from April 1 to September 30. Ordinary income fell to 90,629 million yen, down 67.9% from the same period a year earlier, when it was 282,183 million yen. The decline coincided with revenue growth, highlighting the impact of higher costs on ordinary operating earnings during the period. The company said its net profit was affected by higher electricity procurement costs. These interim results differ from standalone-quarter figures in some summaries, as they cover the full six months.
Revenue totaled 3,271,310 million yen, up 3.8% year on year, compared with 3,150,274 million yen in the first half of the previous fiscal year. But revenue growth did not prevent ordinary income from falling by more than two-thirds to 90,629 million yen. The company attributed pressure on earnings to higher fuel prices and wholesale electricity prices. In its statement, it said this led primarily to an increase in electricity procurement expenses. The effects of these costs were reflected in the results of the Energy Partner and Power Grid segments.
The Power Grid segment recorded an ordinary loss of 245 hundred million yen over the six months, a decline of 1,185 hundred million yen compared with the previous year. The Energy Partner segment posted an ordinary loss of 708 hundred million yen, down 1,787 hundred million yen year on year. The comparison between the two segments shows that both recorded ordinary losses, while the decline in Energy Partner’s result was larger by the amount reported in the company’s results. The company linked higher electricity procurement costs to rising fuel and wholesale electricity prices. This places the two segments’ results at the heart of the explanation for the decline in total ordinary income.
On its financial position, the equity ratio stood at 22.2% on September 30, up 0.4 percentage points from the end of the previous fiscal year. The company said its liabilities balance fell 672 hundred million yen between March 31 and September 30. By contrast, net assets rose 591 hundred million yen over the same period. These figures reflect an improvement in the equity ratio alongside lower liabilities and higher net assets. The company had announced that its results cover the first half ended September 30.
The company’s shares closed at 460.6 yen on October 30, according to EL7 data. The close came a day after the interim results were announced on October 29. The trading data available here included only the daily closing price. The semiannual interim report is scheduled to be filed on November 12, 2026. That date will be the next milestone in the company’s official disclosures for the financial period.