tokyo electric power company (9501) Snapshot

Rakuten, Inc., Tokyo Electric Power Company Holdings, Inc., and TEPCO Power Grid, Inc. announced an agreement for Rakuten to utilize TEPCO Group's existing infrastructure rental program, covering transmission towers, utility poles, telecommunication towers, rooftop facilities and other equipment, in establishing a network of base stations for its Mobile Network Operator (MNO) business. Rakuten has applied to Japan's Ministry of Internal Affairs and Communications for frequency band allocation for the 4th generation mobile communications system (4G) (1.7 GHz band and 3.4 GHz band) with the aim of entering the MNO business. TEPCO Group operates a rental program for its infrastructure, and this agreement was reached in recognition of the fact that it meets the needs of all three companies. If Rakuten's frequency band allocation is granted, the company will look to invest in infrastructure in the most efficient way possible, making use of TEPCO Group's transmission towers, utility poles, telecommunication towers, rooftop facilities and other infrastructure for its base station locations on the basis of this agreement. Rakuten will also consider collaborations with other electric utilities as it moves forward with preparations in expectation of approval of its frequency band allocation application by the end of March.TEPCO Group is taking this opportunity to rationalize its rental procedures by creating a single point of contact to meet the broad range of needs for infrastructure rental.

Tokyo Electric Power Company Holdings Inc. announced consolidated earnings results for the nine months ended December 31, 2017. For the nine months, the company reported operating revenue of JPY 4,206.4 billion compared to JPY 3,877.6 billion a year ago. Operating income was JPY 295.6 billion compared to JPY 336.9 billion a year ago. Ordinary income was JPY 274.2 billion compared to JPY 306.1 billion a year ago. Extraordinary loss was JPY 10.7 billion compared to income of JPY 29.4 billion a year ago. Net income attributable to owners of parent was JPY 225.6 billion compared to JPY 308.2 billion a year ago. The company revised earnings guidance for the fiscal year of 2017. For the year, the company expects operating revenue of JPY 5,750 billion compared to previous guidance of JPY 5,750 billion, ordinary income of JPY 200 billion compared to previous guidance of JPY 200 billion, extraordinary income of JPY 98 billion compared to previous guidance of JPY 98 billion and net income attributable to owners of parent of JPY 288 billion compared to previous guidance of JPY 288 billion.

On June 16, August 15, September 1 and December 18, 2017 Tokyo Electric Power Co Inc. (TEPCO) submitted to the Nuclear Regulation Authority (NRA) revised versions of the application to receive approval of revision for reactor installation permit for Kashiwazaki-Kariwa NPS Units 6/7 that it originally submitted to the NRA on September 27, 2013. On December 27, 2017, the company has received approval of revision for reactor installation permit for Kashiwazaki-Kariwa NPS Units 6/7 from the Nuclear Regulation Authority.