Kansai Electric Power revises full-year forecast and dividend upward

Kansai Electric Power (TSE:9503) has revised its consolidated full-year earnings forecast for the fiscal year ending March 31, 2026. The revision is driven by higher electricity sales and improved electricity transmission and distribution operations.

Revenue is now projected at JPY 4,050,000 million, up from JPY 4,000,000 million. Operating profit is forecast to reach JPY 450,000 million (previously JPY 380,000 million), while ordinary profit is expected to hit JPY 490,000 million (previously JPY 400,000 million). Net profit attributable to owners of parent is revised to JPY 360,000 million (previously JPY 295,000 million), resulting in a projected earnings per share of JPY 323.14 (previously JPY 264.80).

Key underlying data supporting the revision include an updated total electricity sales volume forecast of 152.1 billion kWh (previously 143.6 billion kWh). The company maintains its nuclear power utilization rate forecast at approximately 80% and revises its hydropower output rate to approximately 99% (previously 100%). Additionally, the full-year average CIF crude oil price (all Japan) is adjusted to approximately $72/barrel (previously $75/barrel), and the interbank exchange rate is revised to approximately JPY 145/$ (previously JPY 150/$).

In line with the improved performance, Kansai Electric Power has also revised its full-year dividend forecast upward. The annual dividend per share is now projected to be JPY 75, comprising an interim dividend of JPY 30 and a year-end dividend of JPY 45. This represents an increase from the previously forecast annual dividend of JPY 60.