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TEPCOTokyo Electric Power Company Holdings, Incorporated9501東証プライム電気・ガス業FY ending Mar 2026, consolidated, J-GAAP

TEPCO FY ending Mar 2026 results

About 76% of TEPCO's sales come from Energy Partner Company, with Power Grid Company and Holdings making up much of the rest.

Out of every ¥100 of sales, about ¥5 is left as operating profit.

Revenue changed -7.1% from the prior year, operating profit +44.0%.

Revenue and profit pattern

Revenue down, profit up

Revenue -7.1% · profit +44.0%, calculated from disclosed figures.

Operating leverage: -6.22× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
-7.1%¥6.81T → ¥6.33T
Operating income
+44.0%¥234.5B → ¥337.7B
Net income attributable to owners
-381.7%¥161.3B → -¥454.3B
Operating cash flow
+55.1%¥361.2B → ¥560.3B
Free cash flow
Loss-¥472.1B → -¥348.7B

Results at a glance

  • Revenue for the FY ending Mar 2026 came in at ¥6.33T, down -7.1% from ¥6.81T.
  • Operating income moved the other way, climbing +44.0% from ¥234.5B to ¥337.7B.
  • Even so, net income went from a ¥161.3B profit to a loss of -¥454.3B.
  • Operating cash flow grew +55.1% to ¥560.3B, but free cash flow stayed negative at -¥348.7B.

What drove the change

  • Retail power sales dropped as competition for large commercial and industrial customers stayed tough, which pulled revenue down
  • Profit improved as the timing lag in the fuel cost adjustment system turned in the company's favor, alongside ongoing cost work
  • A large extraordinary loss for preparing full-scale removal of fuel debris at Fukushima Daiichi pushed the bottom line into the red

Things to watch

  • Decommissioning work with no precedent, such as fuel debris removal, may fall behind plan and take longer
  • Competition in electricity retail keeps getting fiercer
  • Tension in the Middle East could lift fuel and wholesale power prices and raise procurement costs

Annual Securities Report (102nd term) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report (102nd term) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

※ Cost of revenue is not disclosed; expenses are combined

Where ¥100 of sales goes

For every ¥100 TEPCO sells, how much goes where, and how much is kept.

FY ending Mar 2026
Operating costs
¥95
Operating profit
¥5
Net loss
¥7

Annual margin trends

Operating margin5.3%
FY ending Mar 2021: 2.4%2.4%FY ending Mar 2022: 0.9%0.9%FY ending Mar 2023: -2.8%-2.8%FY ending Mar 2024: 4.0%4.0%FY ending Mar 2025: 3.4%3.4%FY ending Mar 2026: 5.3%5.3%FY21FY22FY23FY24FY25FY26
Net margin-7.2%
FY ending Mar 2021: 3.1%3.1%FY ending Mar 2022: 0.1%0.1%FY ending Mar 2023: -1.5%-1.5%FY ending Mar 2024: 3.9%3.9%FY ending Mar 2025: 2.4%2.4%FY ending Mar 2026: -7.2%-7.2%FY21FY22FY23FY24FY25FY26

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第102期(2025/04/01－2026/03/31)

    ID S100YIHR2026-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第101期(2024/04/01－2025/03/31)

    ID S100W4QX2025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第100期(2023/04/01－2024/03/31)

    ID S100TVQJ2024-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第99期(2022/04/01－2023/03/31)

    ID S100R8P32023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第98期(令和3年4月1日－令和4年3月31日)

    ID S100OKB12022-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第97期(令和2年4月1日－令和3年3月31日)

    ID S100LV6U2021-06-30Open

Extracted from XBRL: 45 / Derived from other figures: 2

Spotted an error? Report it (corrections keep the original record)

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