Results for the Period under Review

During fiscal 2009, the Japanese economy as the whole experienced a challenging moment – weaker consumer spending, bitter employment, and deterioration in corporate revenues through reduction in manufacturing and exporting caused by the world-wide economic downturn led by the financial crisis in US, and ongoing yen application. These trends are remarkable in Chubu region.

In these economic circumstances, for income, such factors as a rise in unit sales price contributed revenues from electric utility to rose, thus increased operating revenue a year-on -year increase of JPY98.2 billion, despite reduction of electric energy sold.

Meanwhile, as for expenses, higher fuel prices in the electric power business and other issues caused ordinary expenses to increase JPY91.1 billion to JPY2,418.0 billion.

As a result of the above, ordinary income increased JPY7.1 billion from the previous fiscal year to JPY130.5 billion.

Moreover, in conjunction with such event as the termination of operations at Reactors No.1 and No.2 in Hamaoka Nuclear Power Station, the company recorded extraordinary loss of JPY153.6 billion that includes loss on power generation facilities.

Electric Power Business

Electric Energy Sold

Amount of electric energy sold was reduced – led by decline in industrial demand following economical slowdown in the second half of the fiscal year, to 129.7 TWh, 5.6 % reduction from last fiscal year.

Demand from Customers under Regulation

Although number of contracts was increased, demand for electric lighting declined by 2.2% to 35.3 TWh, due to such factor as weaker air conditioning demand by warmer air temperatures over the winter in previous FY period.

Meanwhile, demand for electric power was decreased by 7.6% to 6.8TWh, by reduced number of contracts, weaker air conditioning demand, and other factors.

Demand from Customers under Liberalization

Demand for commercial power was declined by 1.0% to 23.4TWh due to weaker air conditioning demand, despite of growth in number of contracts. Demand for industrial power was declined by 8.8% to 64.2 TWh because of drop in productions led by machineries and steel manufacturers caused by economic recession in the second half of the fiscal year.

Electric Energy Supplied

As to electric power supply, hydroelectric power output was about same level as of previous fiscal year. Meanwhile, nuclear power output was decreased by 2.3TWh over the previous fiscal year by suspension of operation at Reactor No. 5 in Hamaoka nuclear power station, along with other factors.

Operating Revenues and Expenses

Electric Power Business

In terms of revenue, operating revenue rose by JPY111.5 billion to JPY2,298.8 billion, due to such factor as increase of revenues from residential, commercial and industrial use, contributed by increases of unit sales prices, despite of decrease of electric energy sold.

In terms of expenses, operating expenses rose by JPY101.4 billion to JPY2,126.2 billion owning to such factor as effect in fuel price surge.

As a result of these developments, operating income decreased by 10.0 billion from the previous fiscal year, to JPY172.5 billion.

Other Businesses

In terms of revenue, although sales from energy business were increased, such factor as a decline in sales from other business caused a JPY34.3 billion decrease of total sales to JPY211.1 billion.

As for expenses, although production costs for energy business were increased, such factor as a decline in production costs for other business contributed a JPY38.7 billion decrease to JPY201.4 billion.

As a result, operating income totaled JPY9.6 billion, an increase of JPY4.3 billion from the previous fiscal year.