Tohoku Electric Power's FY24 profits drop, eyes recovery in FY25

Tohoku Electric Power (TSE:9506) reported a decrease in consolidated operating revenue and profits for the fiscal year ending March 31, 2025, with operating revenue down 6.1% to JPY2.64 trillion and net income attributable to owners of the parent decreasing 19.1% to JPY182.8 billion. This decline was attributed to lower fuel prices impacting fuel cost adjustments and a time lag effect in the fuel cost adjustment system. Despite this, the company plans a profit increase and sets its sights on a 18.3% equity ratio.