Latest News

Japan's JERA anticipates yearly profit to cut in half

JERA, Japan's biggest power generator, on Tuesday forecast its earnings for the fiscal year ending next March to halve to 200 billion yen ($ 1.3 billion) on lower earnings from overseas power generation organization and smaller sized gains from the time lag result.

JERA, an unlisted company collectively owned by Tokyo Electric Power and Chubu Electric Power, published 399.6 billion yen in revenue for the year ended March 31, up from 17.8 billion yen in the year-ago period.

The power generator stated results were driven by benefit from overseas power generation and renewable resource service, too as the time lag gain in the fuel rate adjustment system - elements whose impact it expects to be smaller sized this year.

The time lag impact - when a change in fuel prices is reflected in sale prices with a delay - included 250.9 billion yen to JERA's revenue last year while abroad power generation and renewable energy service published 33.7 billion yen, reversing in 2015's losses on improving power plant business abroad.

For the year ending in March 2025, JERA anticipates the time lag result to contribute 50 billion yen to its earnings with overseas power generation and renewable resource including another 20 billion yen. In its discussion on Tuesday, the business did not discuss factors for the forecast modification.

Excluding time lag results, revenue is anticipated at 150 billion yen, in line with the fiscal year of 2023, JERA stated.

(source: Reuters)