FY2021 Consolidated Financial Results2022/04/28

JERA Co., Inc. (“JERA”) has today disclosed its consolidated financial results for FY2021 (1 April 2021 through 31 March 2022).

Operating revenue increased by 62.5% year-on-year to 4,435.2 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 adjustment, net income attributable to JERA (“Net Income”) decreased 84.4% year-on-year to 24.6 billion yen due to losses resulting from the fuel cost adjustment system time lag. (Net Income excluding the impact of the fuel cost adjustment system time lag was 277.0 billion yen.)

FY2021 Consolidated Financial Results                 　　 　　　　　　　　　　　   　　　　　　　　　(Unit: Billion Yen)

JERA has not yet established its consolidated financial forecast for FY2022 as the uncertain outlook for resource prices and electric power sales in light of factors such as the situation in Ukraine means business performance cannot be reasonably calculated.

*JERAGM adjusts fuel volume through trade in accordance with the daily fluctuations of JERA’s consumption. While supplying fuel to Japan at market prices, it also profits by leveraging its expertise and access to global markets. In FY2021, profit increased due to the sharp rise and expanded volatility of resource prices.