Chubu Electric Power Co. (9502) booked ¥370.3 billion in extraordinary losses tied to its Hamaoka nuclear power station in the first half and now forecasts a ¥215.0 billion net loss for the year ending March 2027, reversing a previous forecast of ¥160.0 billion net profit.
The company said it received a report on Sept. 11, 2026, from an investigation committee looking into improper conduct in formulating the design-basis ground motion during the new regulatory standards conformity review of the Hamaoka plant. Citing serious doubts over the reliability of its application documents and subsequent review responses, it withdrew applications for reactor installation change permits for Hamaoka Units 3 and 4 on Sept. 25. The company said uncertainty over restart timing and safety upgrade work has risen, making its future business scenario difficult to determine.
Assuming a longer shutdown, lower power sales revenue after a restart and higher safety upgrade costs, the company booked a ¥304.9 billion impairment loss in the first half, covering the full amount of its nuclear power business's electric utility fixed assets and construction in progress. It also booked a ¥65.3 billion nuclear fuel valuation loss. It expects about ¥10 billion more in impairments on capital spending from the third quarter, bringing full-year extraordinary losses to about ¥380 billion.
Ordinary profit is now seen about ¥75 billion below the previous forecast. Changes in the business environment, including a prolonged Middle East situation, are expected to lift earnings at JERA. However, subsidiary Chubu Electric Power Miraiz faces wider time-lag losses and higher power procurement costs.
| Item | Previous (July 29, 2026) | Revised |
|---|---|---|
| Net sales | ¥3.9 trillion | ¥4.2 trillion |
| Ordinary profit | ¥185.0 billion | ¥110.0 billion |
| Net income attributable to owners of parent | ¥160.0 billion | -¥215.0 billion |
| EPS | ¥211.81 | -¥284.51 |
For April-September, net sales rose 11.3% to ¥1,945.2 billion. The company posted an operating loss of ¥78.1 billion. Ordinary profit fell 79.1% to ¥41.0 billion, and the net loss attributable to owners of parent was ¥280.5 billion. The interim dividend was ¥35, and the full-year dividend forecast of ¥70 was unchanged.
The company plans to file its semi-annual securities report on Nov. 16, 2026, and to begin paying the interim dividend on Nov. 30, 2026.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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