9513
Electric Power Development Co., Ltd.
電源開発株式会社
Utilities · Utilities - Renewable
Electric Power Development Co., Ltd. operates as electric utility company in Japan. It develops and operates hydroelectric power plants with total owned capacity of 8,560 MW; wind power with total owned capacity of 485 MW; geothermal power with total owned capacity of 38 MW; thermal power with total owned capacity of 8,810 MW; solar; biomass; and nuclear business. The company also offers welfare facility management; building maintenance services; administrative and labor services; computer software development, etc. In addition, it engages in the construction, engineering, design, consulting, and maintenance inspections of hydropower stations; transmission lines and substations; real estate indemnity; land survey; civil engineering work; general architecture; project management, etc. Further, the company offers unloading and transportation of coal for thermal power stations; marine transportation of coal for power generation; research and planning for environmental conservation; construction and maintenance of electronic and telecommunication facilities, etc. Additionally, it offers construction consulting services; design and supervision of power generation facilities and general architecture; geological and other surveys; development of facilities for removal of air and water pollutants; production and sales of fertilizers originated coal ash, etc. The company was incorporated in 1952 and is headquartered in Tokyo, Japan.
Price
¥4,017
Market Cap
¥735.3B
Ent. Value
¥2.0T
Net Debt
−¥1.3T
Shares Out.
183.0M
P / E
12.3×
EV / EBIT
20.0×
⚠ TSE Capital Mandate
P / Book
0.50×
P / NCAV
N/M
Div. Yield
1.24%
Financials
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥3,739.7B | ¥3,668.7B | ¥3,475.7B | ¥3,362.7B | ¥3,066.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥666.2B | ¥673.7B | ¥690.3B | ¥661.3B | ¥471.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥397.0B | ¥309.0B | ¥278.8B | ¥342.0B | ¥223.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | — | ¥112.2B | ¥98.1B | ¥129.9B | ¥80.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥3,073.5B | ¥2,995.0B | ¥2,785.5B | ¥2,701.4B | ¥2,594.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | — | ¥11.1B | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | — | ¥32.9B | ¥41.7B | ¥56.9B | ¥64.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥2,205.2B | ¥2,205.2B | ¥2,142.7B | ¥2,169.9B | ¥2,102.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥398.2B | ¥413.4B | ¥349.3B | ¥372.0B | ¥415.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | — | ¥62.0B | ¥52.4B | ¥53.8B | ¥44.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥8.3B | ¥8.1B | ¥8.0B | ¥10.7B | ¥8.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥1,807.0B | ¥1,791.9B | ¥1,793.4B | ¥1,797.9B | ¥1,686.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥1,668.7B | ¥1,651.1B | ¥1,661.4B | ¥1,667.4B | ¥1,546.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | — | ¥29.1B | ¥31.7B | ¥33.3B | ¥38.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | — | ¥28.6B | ¥27.7B | ¥25.1B | ¥16.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥1,534.5B | ¥1,463.5B | ¥1,333.1B | ¥1,192.7B | ¥964.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | — | ¥180.5B | ¥180.5B | ¥180.5B | ¥180.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | — | ¥128.2B | ¥128.2B | ¥128.2B | ¥119.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥843.6B | ¥803.2B | ¥729.9B | ¥669.5B | ¥570.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | — | ¥-349M | ¥-362M | ¥-378M | ¥-9M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | — | ¥224.5B | ¥177.7B | ¥106.9B | ¥45.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥1,131.5B | ¥1,111.5B | ¥1,038.2B | ¥977.8B | ¥870.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | — | ¥127.5B | ¥117.2B | ¥108.1B | ¥48.1B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥1,677.0B | ¥1,659.3B | ¥1,669.4B | ¥1,678.2B | ¥1,554.3B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-1,280.0B | ¥-1,350.3B | ¥-1,390.6B | ¥-1,336.1B | ¥-1,331.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥-1,539.0B | ¥-1,531.5B | ¥-1,452.4B | ¥-1,508.6B | ¥-1,630.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | — | ¥-8,367 | ¥-7,935 | ¥-8,242 | ¥-8,909 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | — | ¥6,072 | ¥5,672 | ¥5,342 | ¥4,757 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥224.3B | ¥250.3B | ¥254.0B | ¥155.8B | ¥128.4B |
| Interest Paid | — | ¥-32.9B | ¥-34.3B | ¥-26.2B | ¥-21.5B |
| Interest Received | — | ¥31.5B | ¥39.9B | ¥19.0B | ¥15.6B |
| D&A | ¥116.1B | ¥116.4B | ¥110.3B | ¥107.6B | ¥97.0B |
| Goodwill Amort. | — | ¥285M | — | — | — |
| Investing CF | ¥-193.2B | ¥-122.8B | ¥-162.0B | ¥-150.8B | ¥-178.8B |
| Financing CF | ¥-64.2B | ¥-133.7B | ¥-65.9B | ¥96.0B | ¥84.1B |
| Dividends Paid | — | ¥-19.2B | ¥-17.4B | ¥-14.6B | ¥-13.7B |
| LT Debt Repaid | — | ¥-109.1B | ¥-144.4B | ¥-126.5B | ¥-65.3B |
| Free Cash Flow | ¥224.3B | ¥250.3B | ¥254.0B | ¥155.8B | ¥128.4B |
| Net Change in Cash | — | ¥2.4B | ¥36.4B | ¥111.7B | ¥37.3B |
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 3.9% | 7.2% | 6.8% | 11.4% | 8.1% |
| ROA | 1.6% | 2.6% | 2.3% | 3.5% | 2.3% |
| EPS | ¥325.51 | ¥505.64 | ¥425.31 | ¥621.50 | ¥380.70 |
| DPS | ¥50.00 | ¥100.00 | ¥100.00 | ¥90.00 | ¥75.00 |
| BPS | ¥7,985.24 | ¥7,305.66 | ¥6,649.11 | ¥5,931.68 | ¥5,004.31 |
| FCF/Share | — | ¥1,368 | ¥1,388 | ¥851 | ¥701 |
| NCAV/Share | — | ¥-8,367 | ¥-7,935 | ¥-8,242 | ¥-8,909 |
| Payout Ratio | 15.4% | 19.8% | 23.5% | 14.5% | 19.7% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 11
Capital Allocation Signals 2
| Date | Type | Amount | Summary | |
|---|---|---|---|---|
|
2026-05-15
15:00
|
Cancellation | 3.7% | Power Electric Power Development Co., Ltd.) completed the cancellation of 6,713,200 treasury shares (3.7% of pre-cancell… | |
|
Summary
Power Electric Power Development Co., Ltd.) completed the cancellation of 6,713,200 treasury shares (3.7% of pre-cancellation outstanding shares) on May 15, 2026, pursuant to Company Law Article 178. The cancellation reduces total issued shares from approximately 183,051,100 to 176,337,900 shares.
% of Shares: 3.7%
Shares: 6,713,200
Source (JP)
会社法第178条の規定に基づく自己株式の消却を完了しましたので下記の通りお知らせいたします。消却した株式の数:6,713,200株(消却前の発行済株式総数に対する割合 3.7%)、消却日:2026年5月15日
自己株式の消却完了に関するお知らせ
TDnet PDF
|
||||
|
2026-04-30
16:00
|
Cancellation | — | 6,713,200 treasury shares to be cancelled. | |
|
Summary
6,713,200 treasury shares to be cancelled.
Shares: 6,713,200
Source (JP)
1. 消却する株式の種類
2. 消却する株式の数
記
普通株式
6,713,200 株
3. 消却予定日
2026 年 5 月 15 日
(消却前の発行済株式総数に対する割合 3.7%)
(ご参考)
消却後の発行済株式総数
176,337,900
自己株式の消却に関するお知らせ
TDnet PDF
|
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| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
|
22,581 | 12.34% |
| 2 |
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
|
10,223 | 5.59% |
| 3 |
Nippon Life Insurance
日本生命保険相互会社
|
9,152 | 5.00% |
| 4 |
J-POWER Employee Stock Ownership Plan
J-POWER従業員持株会
|
5,154 | 2.82% |
| 5 |
Mizuho Bank
株式会社みずほ銀行
|
4,124 | 2.25% |
| 6 |
JPMorgan Chase Bank, N.A.
JP MORGAN CHASE BANK 385864(常任代理人 株式会社みずほ銀行決済営業部)
|
3,658 | 2.00% |
| 7 |
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行決済営業部)
|
3,397 | 1.86% |
| 8 | JPモルガン証券株式会社 | 3,269 | 1.79% |
| 9 |
Sumitomo Mitsui Banking Corporation
株式会社三井住友銀行
|
3,150 | 1.72% |
| 10 |
Fukoku Mutual Life Insurance
富国生命保険相互会社
|
3,027 | 1.65% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
17.9%
-0.5% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
3.9%
-2.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
15.2%
+0.1% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 37.0% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Japan Master Trust Bank 日本マスタートラスト信託銀行 | 12.08% | 13.21% | 12.34% -0.87% | |
| Japan Custody Bank 日本カストディ銀行 | 4.54% | 5.19% | 5.59% +0.40% | |
| Nippon Life Insurance 日本生命保険 | 5.00% | 5.00% | 5.00% | |
| J-POWER Employee Stock Ownership Plan J-POWER従業員持株会 | 2.71% | 2.74% | 2.82% +0.08% | |
| Mizuho Bank みずほ銀行 | 2.82% | 2.53% | 2.25% -0.28% | |
| JP Morgan | 3.96% | 5.87% | 2.00% -3.87% | |
| State Street NEW ENTRY | — | — | — | 1.86% NEW |
| JPモルガン証券 NEW ENTRY | — | — | — | 1.79% NEW |
| Sumitomo Mitsui Banking Corporation 三井住友銀行 | 1.88% | 1.80% | 1.72% -0.08% | |
| Fukoku Mutual Life Insurance 富国生命保険相互会社 | 1.65% | 1.65% | 1.65% | |
| MUFG Bank 三菱UFJ銀行 last seen 2024 | Exited Top 10 | — | 1.39% | — |
| CGML PB CLIENT ACCOUNT/COLLATERAL last seen 2023 | Exited Top 10 | 1.83% | — | — |
| Concentration (HHI) ⓘ | 232 | 283 | 238 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥46,209M
+63% since 2023
Holdings
16
+1 new
2 exited
Trend
3 unwinding
vs 2023
| Held Company | FY2025 ¥46,209M total | FY2023 ¥28,291M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Mitsubishi Heavy Industries,Ltd.
三菱重工業㈱
|
10,311 |
+900.0%
↑
4,082,000
|
1,990 | 408,200 | M |
|
KAJIMA CORPORATION
鹿島建設㈱
|
6,930 |
-10.0%
↓
2,273,900
|
4,037 | 2,526,500 | M |
|
T&D Holdings, Inc.
㈱T&Dホールディングス
|
5,343 |
-42.8%
↓
1,683,650
|
4,828 | 2,942,550 | |
|
Daiwa Securities Group Inc.
㈱大和証券グループ本社
|
4,269 |
4,296,000
|
2,667 | 4,296,000 | M |
|
SHIMIZU CORPORATION
清水建設㈱
|
3,717 |
2,809,000
|
2,106 | 2,809,000 | M |
|
East Japan Railway Company
東日本旅客鉄道㈱
|
2,976 |
+200.0%
↑
1,008,300
|
2,465 | 336,100 | M |
|
OBAYASHI CORPORATION
㈱大林組
|
2,422 |
1,221,000
|
1,236 | 1,221,000 | M |
|
Central Japan Railway Company
東海旅客鉄道㈱
|
1,702 |
+400.0%
↑
596,500
|
1,886 | 119,300 | M |
|
Hitachi, Ltd.
㈱日立製作所
|
1,635 |
+400.0%
↑
473,000
|
686 | 94,600 | M |
|
IINO KAIUN KAISHA, LTD.
飯野海運㈱
|
1,634 |
1,639,800
|
1,646 | 1,639,800 | M |
|
NYK Line Co.
日本郵船㈱
|
1,541 |
313,200
|
967 | 313,200 | M |
|
TSUKISHIMA HOLDINGS CO., LTD.
月島ホールディングス㈱
|
1,191 |
NEW
New
697,000
|
— | M | |
|
NIPPON STEEL CORPORATION
日本製鉄㈱
|
1,002 |
313,790
|
979 | 313,790 | M |
|
The Japan Steel Works, Ltd.
㈱日本製鋼所
|
842 |
161,000
|
399 | 161,000 | M |
|
Mitsui O.S.K. Lines, Ltd.
㈱商船三井
|
591 |
-50.0%
↓
114,000
|
754 | 228,000 | M |
| Green Earth Institute㈱ | 103 |
240,000
|
187 | 240,000 | |
| 月島機械㈱ | — |
−100%
Exit
—
|
758 | 697,000 | M |
|
TOSHIBA CORPORATION
㈱東芝
|
— |
−100%
Exit
—
|
700 | 157,500 | M |
| Portfolio total | 46,209 | 28,291 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding