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Regional electric utility supplying power to Japan's Chugoku region (western Honshu).
Regional electric utility supplying power to Japan's Chugoku region (western Honshu).
Sells electricity to households and businesses, now open to competition after retail liberalisation, while the grid is run by a separately regulated subsidiary since the 2020 split of transmission. Fuel costs are a major swing because it relies on imported coal and LNG, so restarting its Shimane nuclear plant is the main cost lever.
Moat: wide (regulatory licence, installed base, scale). Regulated regional monopoly transmission/distribution network serving western Honshu.
Headquarters: Hiroshima, Japan · Founded: 1951 · Employees: 12,606
Size Chugoku Electric Power (9504.T) is a Japan Utilities company (Electric Utilities) with a market value of $2.41B, the 423rd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,056 on 6 Nov 2026.
Performance Over six months the shares gained 18.1%, against -21.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue fell 0.4% over the last twelve months (peer median -5.2%); the operating margin is -0.4% (peer median 10.7%).
Valuation It trades at 9.3× forward earnings against a peer median of 19.0× (3rd cheapest of 16).
Capital Return on invested capital runs 5.5 points below its cost of capital (5.0% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.51T | ¥1.44T | ¥1.53T | ¥1.63T | ¥1.69T |
| Revenue growth | — | -6% | -6% | -4% | — |
| Gross profit | n/a | ¥95.7B | ¥136B | ¥214B | -¥60.2B |
| EBITDA | n/a | ¥229B | ¥244B | ¥317B | ¥27.9B |
| Net income | n/a | ¥68.5B | ¥98.5B | ¥134B | -¥155B |
| Free cash flow | n/a | -¥29.9B | -¥192B | ¥65.4B | -¥266B |
| Capital expenditure | n/a | ¥267B | ¥378B | ¥206B | ¥203B |
| Total debt | n/a | ¥3.31T | ¥3.16T | ¥2.98T | ¥3.02T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Chugoku Electric Power 9504.T | $2.41B | +18% | 0% | 0% | 9.3× | n/a |
| Shikoku Electric Power 9507.T | $2.33B | +24% | -3% | 6% | 9.8× | n/a |
| Kansai Electric Power 9503.T | $17.3B | +2% | +2% | 6% | 8.2× | 11.0% |
| Kyushu Electric Power Company,Incorporated 9508.T | n/a | +13% | n/a | n/a | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 9504.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.8% | -5.0% | 2nd highest of 21 |
| 6-month return | +18.1% | -21.0% | 2nd highest of 21 |
| Distance from 52-week high | -7.8% | -39.7% | 3rd highest of 21 |
| Revenue growth (TTM) | -0.4% | -5.2% | 8th highest of 21 |
| Operating margin | -0.4% | 10.7% | lowest of 20 |
| Forward P/E | 9.3× | 19.0× | 3rd cheapest of 16 |
| ROIC minus cost of capital | -5.5 pp | -0.7 pp | 3rd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Chugoku Electric Power 9504.T | Japan | $2.41B | +18% | 0% | 0% | 9.3× | n/a | n/a |
| SJVN SJVN.NS | India | $2.38B | -28% | +99% | 48% | 15.9× | n/a | n/a |
| SPIC Green Energy 000875.SZ | China | $2.34B | -34% | -4% | 16% | 35.0× | -0.2% | +5.6% |
| Shikoku Electric Power 9507.T | Japan | $2.33B | +24% | -3% | 6% | 9.8× | n/a | n/a |
| An Hui Wenergy 000543.SZ | China | $2.52B | -8% | -18% | 11% | 9.2× | 1.3% | +10.4% |
| State Grid Information & Communication 600131.SS | China | $2.55B | -17% | +13% | 6% | 21.2× | 7.0% | +8.7% |
| MVV Energie MVV1.DE | Germany | $2.23B | +1% | -8% | 4% | n/a | n/a | n/a |
| Huadian Liaoning Energy Development 600396.SS | China | $2.23B | +2% | 0% | 8% | n/a | n/a | n/a |
| Henan Yuneng 001896.SZ | China | $2.14B | -39% | -6% | 5% | n/a | n/a | n/a |
| Enea ENA.WA | Poland | $2.80B | -3% | -11% | n/a | 4.4× | -7.7% | +9.1% |
| China Southern Power Grid Energy Efficiency & Clean Energy 003035.SZ | China | $2.89B | -31% | +10% | 18% | 39.1× | 11.6% | +12.9% |
| HCIG Energy Investment 000600.SZ | China | $2.01B | -31% | -12% | 9% | 11.1× | n/a | n/a |
| Chongqing Fuling Electric Power Industrial 600452.SS | China | $2.00B | -25% | -7% | 17% | 22.9× | 3.6% | +2.4% |
| CHN Energy Changyuan Electric Power 000966.SZ | China | $1.99B | -16% | -9% | 1% | 22.4× | 6.6% | +6.2% |
| Kenon KEN | United States | $2.99B | -35% | +53% | 8% | n/a | n/a | n/a |
| CECEP Wind-Power 601016.SS | China | $3.00B | -28% | -8% | 24% | 30.7× | 2.0% | +11.0% |
| MGE Energy MGEE | United States | $3.03B | +9% | +8% | 23% | 19.0× | n/a | n/a |
| Guangdong Baolihua New Energy Stock 000690.SZ | China | $1.87B | +9% | +1% | 14% | 11.1× | -11.6% | +3.9% |
| Datang Huayin Electric Power 600744.SS | China | $1.83B | -30% | -10% | 6% | n/a | n/a | n/a |
| GEPIC Energy Development 000791.SZ | China | $3.23B | -18% | -30% | 40% | 10.2× | -7.8% | +32.3% |
| GCL Energy Technology 002015.SZ | China | $3.27B | -24% | -3% | 15% | 21.5× | n/a | n/a |