FY2022 Third Quarter Consolidated Financial Results2023/01/30

JERA Co., Inc. (“JERA”) has today disclosed its consolidated financial results for the third quarter of FY2022 (1 April 2022 through 31 December 2022). 

Operating revenue increased by 113.0% year-on-year to 6,078.9 billion yen as the result of increased sales by fuel trading subsidiary JERA Global Markets Pte Ltd ("JERAGM") as well as a year-on-year increase in electricity sales.
Despite increased JERAGM profit associated with fuel volume adjustments, net income / loss attributable to JERA was loss of 100.2 billion yen as the result of losses due to the fuel cost adjustment system time lag. (Net income excluding the impact of the fuel cost adjustment system time lag was 298.4 billion yen.)
 

FY2022 Third Quarter Consolidated Financial Results    　　    　(Unit: Billion Yen)

Net Income for FY2022 is expected to be 100.0 billion yen. (Net Income excluding the impact of the fuel cost adjustment system time lag is expected to be 300.0 billion yen.)　

FY2022 Financial Forecast 　　　　　    　　　 　　　　 　 　(Unit: Billion Yen)

*The previous (FY2022 second quarter) forecast of Net Income for FY2022 was loss of 200.0 billion yen. (Net Income excluding the impact of the fuel cost adjustment system time lag was 100.0 billion yen.)
*The forecast for FY2022 reflects the adoption of International Financial Reporting Standards (IFRS).

JERA plans to voluntarily adopt International Financial Reporting Standards ("IFRS") in place of the existing Japan GAAP from the consolidated financial statements for the annual reporting of FY2022, for the purpose of improving the international comparability of financial information in the capital markets and enhancing communication with investors and other stakeholders.