Amended Securities Report - 100th Fiscal Period (2023/04/01 - 2024/03/31)

Kansai Electric Power Company Amended Securities Report - 100th Fiscal Period (2023/04/01 - 2024/03/31)

This report is an amended securities report submitted by Kansai Electric Power Company pursuant to the Financial Instruments and Exchange Act, containing information on business performance, financial condition, and cash flow for the 100th fiscal period (April 1, 2023 to March 31, 2024). The primary purpose of this amendment is to ensure accuracy and transparency of information for investors and stakeholders by correcting accounting errors, disclosure omissions, or misleading statements identified in the previous filing.

The amendment follows findings from internal and external audits, which identified misapplications of revenue recognition standards, timing errors in fixed asset impairment accounting, and inadequate disclosures regarding transactions with affiliated companies. Appropriate accounting treatments have been applied, and financial statements and notes have been revised accordingly.

Particularly amid the ongoing liberalization of the retail electricity market and accelerated efforts toward carbon neutrality, the company's asset composition and revenue structure have become increasingly complex, raising the difficulty of accounting judgments. Such errors may prompt a review of governance systems. Going forward, the company will strengthen audit frameworks, review internal controls, and advance digitalization of financial reporting processes to prevent recurrence.

As a result of this amendment, net income for the period has been downwardly revised by ¥12.8 billion, and net assets by ¥9.7 billion. These adjustments may impact shareholder returns and capital investment plans. The auditing firm has also noted "material deficiencies in continuous disclosure practices," highlighting the urgent need for improved disclosure quality.

Kansai Electric Power will continue advancing initiatives toward a sustainable energy society while reinforcing corporate governance and ensuring transparent disclosures to build trust with shareholders, investors, and all stakeholders.