Appendix : Financial Section（Year ended March 31, 2020）[PDF:993KB]

Appendix

Chubu Electric Power Group Report 2020

(Integrated Report)

Financial Section

Year ended March 31, 2020

Consolidated Balance Sheets										1
Consolidated Statements of Income								3
Consolidated Statements of Comprehensive Income				4
Consolidated Statements of Changes in Net Assets				5
Consolidated Statements of Cash Flows					6
Notes to Consolidated Financial Statements				7
Independent Auditor's Report		33

Chubu Electric Power Company, Incorporated

Consolidated Balance Sheets

Chubu Electric Power Company, Incorporated and Subsidiaries

As of March 31, 2020 and 2019

	Thousands of
	U.S. dollars
Millions of yen	(Note 1)

ASSETS
March 31, 2020	March 31, 2019		March 31, 2020
Property, Plant and Equipment:
Property, plant and equipment, at cost	¥10,208,521	¥ 13,865,992		$ 93,819,701
Construction in progress	387,105	451,643	3,557,623
	10,595,626	14,317,636	97,377,325
Less:
Contributions in aid of construction	(204,451)	(199,356)	(1,878,973)
Accumulated depreciation	(7,310,834)	(10,282,893)	(67,188,990)
	(7,515,285)	(10,482,250)	(69,067,964)
Total Property, Plant and Equipment, Net (Notes 6 and 10)	3,080,341	3,835,385	28,309,360

Nuclear Fuel:
Loaded nuclear fuel	40,040	40,040	367,982
Nuclear fuel in processing	148,733	144,573	1,366,908
Total Nuclear Fuel	188,773	184,613	1,734,890

Investments and Other Assets:
Long-term investments (Notes 7, 8 and 10)	1,433,614	648,240	13,175,392
Net defined benefit asset (Note 11)	13,627	15,265	125,240
Deferred tax assets (Notes 10 and 17)	162,692	197,035	1,495,197
Other (Note 10)	15,796	14,009	145,171
Allowance for doubtful accounts	(558)	(778)	(5,135)
Total Investments and Other Assets	1,625,171	873,773	14,935,867

Current Assets:
Cash and deposits (Notes 5, 7 and 10)	148,583	546,082	1,365,530
Trade notes and accounts receivable (Notes 7 and 10)	308,452	343,850	2,834,784
Allowance for doubtful accounts	(885)	(1,888)	(8,137)
Other (Note 10)	150,377	205,710	1,382,023
Total Current Assets	606,528	1,093,754	5,574,200

Total Assets (Notes 10 and 22)

¥  5,500,815

¥   5,987,526

$50,554,319

The accompanying notes to the consolidated financial statements are an integral part of these statements.

1

	Thousands of
	U.S. dollars
Millions of yen	(Note 1)

LIABILITIES AND NET ASSETS
March 31, 2020	March 31, 2019		March 31, 2020
Noncurrent Liabilities:
Long-term loans payable (Notes 7 and 10)	¥1,758,950	¥1,781,011	$16,165,341
Provision for loss in conjunction with discontinued operations of nuclear power plants	7,981	8,174	73,353
Net defined benefit liability (Note 11)	161,239	170,818	1,481,841
Asset retirement obligations (Note 13)	255,032	249,067	2,343,836
Other (Notes 10 and 17)	181,301	177,853	1,666,221
	Total Noncurrent Liabilities	2,364,506	2,386,924	21,730,595
Current Liabilities:
Current portion of noncurrent liabilities (Notes 7 and 10)	303,212	285,130	2,786,620
Short-term loans payable (Notes 7 and 10)	274,962	925,612	2,526,992
Commercial paper (Notes 7 and 10)	96,000	-	882,271
Notes and accounts payable - trade (Note 7)	192,715	133,584	1,771,119
Accrued taxes	30,571	67,297	280,964
Other (Notes 7 and 13)	254,335	322,167	2,337,429
	Total Current Liabilities	1,151,797	1,733,792	10,585,398
Reserve for Fluctuation in Water Levels	22,446	22,446	206,291
	Total Liabilities	3,538,749	4,143,163	32,522,285
Commitments and Contingent Liabilities (Note 15)
Net Assets (Note 16)
Capital stock	430,777	430,777	3,958,986
Capital surplus	70,808	70,798	650,751
Retained earnings	1,363,241	1,237,605	12,528,642
Treasury shares, at cost (Note 3)	(2,474)	(2,008)	(22,741)
	Total Shareholders' Equity	1,862,352	1,737,172	17,115,639
Accumulated other comprehensive income:
Valuation difference on available-for-sale securities	37,407	35,232	343,783
Deferred gains and losses on hedges (Note 14)	(13,623)	(2,273)	(125,203)
Foreign currency translation adjustments	13,534	16,428	124,391
	Remeasurements of defined benefit plans	(5,278)	(8,064)	(48,507)
Total Accumulated Other Comprehensive Income	32,040	41,322	294,462
Noncontrolling interests	67,672	65,867	621,932
	Total Net Assets	1,962,065	1,844,362	18,032,034
Total Liabilities and Net Assets	¥5,500,815	¥5,987,526	$50,554,319

Chubu Electric Power Company Group Integrated Report 2020

2

Consolidated Statements of Income

Chubu Electric Power Company, Incorporated and Subsidiaries

For the Years Ended March 31, 2020 and 2019

					Thousands of
					U.S. dollars
		Millions of yen		(Note 1)
		March 31, 2020	March 31, 2019		March 31, 2020
Operating Revenues:
Electricity	¥2,630,228	¥2,651,685	$24,172,669
Other	435,726	383,397	4,004,471
Total Operating Revenues (Note 22)	3,065,954	3,035,082	28,177,141
Operating Expenses:
Electricity (Note 18)	2,515,286	2,539,625	23,116,315
Other	419,836	369,532	3,858,435
	Total Operating Expenses	2,935,122	2,909,158	26,974,751
Operating Income (Note 21)	130,832	125,924	1,202,390
Other Income (Expenses):
Interest expense	(22,309)	(24,024)	(205,036)
Gain on change in equity	19,092	-	175,464
Other, net	83,281	11,029	765,381
Total Other Income (Expenses), Net	80,063	(12,995)	735,809
Income Before Income Taxes	210,895	112,929	1,938,199
Income Taxes:
Current	28,792	29,350	264,615
Deferred	14,382	651	132,177
	Total Income Taxes	43,175	30,002	396,792
Net Income	167,720	82,926	1,541,406
Net income attributable to noncontrolling interests	4,248	3,504	39,042
Net income attributable to owners of parent	¥   163,472	¥     79,422		$  1,502,364
					U.S. dollars
		Yen			(Note 1)
		March 31, 2020	March 31, 2019		March 31, 2020
Per Share of Capital Stock:
Net income - basic (Notes 2 and 3)	¥216.11	¥104.96	$1.99
	Cash dividends	50.00	45.00	0.46

The accompanying notes to the consolidated financial statements are an integral part of these statements.

3

Consolidated Statements of Comprehensive Income

Chubu Electric Power Company, Incorporated and Subsidiaries

For the Years Ended March 31, 2020 and 2019

					Thousands of
					U.S. dollars
		Millions of yen		(Note 1)
		March 31, 2020	March 31, 2019		March 31, 2020
Net Income	¥167,720	¥82,926	$1,541,406
Other Comprehensive Income:
Valuation difference on available-for-sale securities	1,389	(3,315)	12,768
Deferred gains and losses on hedges	2,245	1,679	20,635
Foreign currency translation adjustments	19	(168)	179
Remeasurements of defined benefit plans, net of tax	3,293	4,909	30,268
Share of other comprehensive income of entities accounted for using equity method	(15,815)	(1,522)	(145,347)
Other Comprehensive Income (Note 19)	(8,867)	1,582	(81,495)
Comprehensive Income	¥158,852	¥84,509	$1,459,911
Comprehensive income attributable to:
	Owners of parent	¥154,189	¥79,147	$1,417,055
	Noncontrolling interests	4,663	5,361	42,855

Chubu Electric Power Company Group Integrated Report 2020

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