Tokyo Electric Power Company Holdings, Incorporated.

Business Details

This segment is handled by Tokyo Electric Power Company Holdings itself, with its primary function being the efficient provision of management support and shared services to the group's four core operating companies (Fuel & Power, Power Grid, Energy Partner, and Renewable Power). In addition, it is responsible for the operation and restart of the Kashiwazaki-Kariwa Nuclear Power Station, the decommissioning of and compensation related to the Fukushima Daiichi and Daini Nuclear Power Stations, and hydroelectric power generation. It has affiliated companies including TEPCO Real Estate, Tokyo Power Technology, and TEPCO Systems under its umbrella.

Recent Overview

Segment income turned positive due to the resumption of power transmission at Kashiwazaki-Kariwa Unit 6 and gain on sale of affiliated company shares

In FY2026 (ending March 2026), the resumption of power transmission at Kashiwazaki-Kariwa Nuclear Power Station Unit 6 contributed to a turnaround in segment ordinary income, from △¥50,713 million in the prior period to ¥128,967 million. Meanwhile, a change in estimates based on discussions by the Fuel Debris Retrieval Method Evaluation Subcommittee led to the recording of ¥903,000 million in disaster-related special losses for retrieval preparation work costs and other items. A gain on sale of affiliated company shares of ¥103,099 million was recorded as extraordinary income. The Mid-and-Long-Term Roadmap for decommissioning was revised on March 26, 2026, and efforts continue toward completion of decommissioning measures in 30 to 40 years.

Key Products

Growth Drivers

• Recovery in power generation revenue due to the resumption of power transmission at Kashiwazaki-Kariwa Nuclear Power Station Unit 6 (segment ordinary income turned positive, from △¥50,713 million in the prior period to ¥128,967 million)
• Expectations of additional future power generation revenue as preparations progress for the restart of Kashiwazaki-Kariwa Nuclear Power Station Unit 7
• Recording of ¥103,099 million in extraordinary income from gain on sale of affiliated company shares (current period results)
• Partial offsetting of decommissioning costs through receipt of ¥81,863 million in funding grants from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation
• Investment to address increasing electricity demand accompanying DX and GX progress (capital expenditures of ¥355,868 million) and accumulation of equity in earnings of affiliates

Risks

• Risk of fluctuation in estimated fuel debris retrieval costs (¥903,000 million in disaster-related special losses recorded in the current period, with potential for further fluctuation depending on progress of the Mid-and-Long-Term Roadmap for decommissioning)
• Risk of damage compensation claims arising from import suspension measures imposed by foreign governments in connection with the ocean discharge of ALPS treated water (reasonable estimation of compensation amounts is difficult due to the full scope of damage not yet being confirmed)
• Risk to continued stable operation of the Kashiwazaki-Kariwa Nuclear Power Station (requiring completion of construction of specific severe accident countermeasure facilities, local understanding, and regulatory compliance)
• Risk of additional nuclear damage compensation expenses (the nuclear damage compensation provision may fluctuate due to increased estimated amounts and extended calculation periods associated with the ALPS treated water discharge)
• Risk of increased costs due to rising prices and interest rates (interest-bearing debt balance equivalent to 43% of total assets, with rising interest rates directly increasing interest expenses)