Today I will talk about J-POWER, an electric power company that mainly operates coal-burning power and hydraulic power generation businesses.
※The above images are from J-POWER s website
J-POWER was established mainly by the government in 1952 during the reconstruction period after World WarⅡ
to contract a new power plant in response to increased demand for electricity.
Still, the government released shares due to privatization, and then it was listed in 2004.
Currently, J-POWER has more than 60 power plants in Japan, including both coal-burning power plants
and hydraulic power plants.
At the same time, it is also engaged in the consulting business related to power development overseas.
￥1,509 （11/12 last closing price)
The latest stock price← click here Trading unit: 100
The final month of the settlement: March
Dividend yield 4.97 %
PER 5.42 PBR 0.34
Equity ratio 28.5 %
J-POWER is a formerly government-affiliated company, so I would expect it to have solid numbers.
However, a nuclear power plant’s construction has been delayed and may cause a temporary massive record loss.
Additionally, although there is international decarbonized trend as a measure against global warming,
it seems necessary to take actions such as reconstructing aging coal burning power plants.
On the other hand, their policy seems to diversify businesses, such as being in the field of water supply.
Transition of business results
|
|
Net sales |
Operating profit |
Net profit |
Net profit per share |
dividend |
Dividend payout ratio |
|
2018.3 |
856,252 |
104,336 |
68,448 |
373.9 |
75 |
20% |
|
2019.3 |
897,366 |
78,844 |
46,252 |
252.7 |
75 |
30% |
|
2020.3 |
913,775 |
83,638 |
42,277 |
231.0 |
75 |
32% |
|
2021.3 |
823,000 |
74,000 |
51,000 |
278.6 |
75 |
27% |
※Unit of sales, operating profit, net income is one-million yen
※The figure for March 2021 is the predicted value
|
Cash flow statement |
2020.2 |
2019.2 |
|
CF operating activities |
1,529 |
1,487 |
|
CF investing activities |
▲1,617 |
▲1,704 |
|
CF financing activities |
▲277 |
746 |
※One unit is one hundred million yen
Note: You should be responsible for your own investment. Please make your own final judgment.