JAPAN'S JERA EXPECTS ANNUAL PROFIT TO HALVE
JERA, Japan's largest power generator, anticipates that its profit for the fiscal year ending next March will decrease by half to 200 billion yen ($1.3 billion). This forecast is attributed to lower revenue from its overseas power generation business and reduced gains from the time lag effect. In the previous fiscal year, JERA, jointly owned by Tokyo Electric Power (9501.T) and Chubu Electric Power (9502.T), announced a profit of 399.6 billion yen, a significant increase from 17.8 billion yen in the year-ago period.
The company highlighted that its previous year's results were driven by profits from overseas power generation and renewable energy businesses, as well as gains from the time lag in the fuel price adjustment mechanism. However, JERA expects the impact of these factors to be diminished in the current fiscal year.
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