TSE:9503Electric Utilities
Kansai Electric (TSE:9503) Stock Faces Questions Over Earnings Quality
Investors walked into Kansai Electric Power Company’s Q1 print with a stock that had quietly climbed 6.5% over the past month, supported by a low 6.5x P/E and a 3.28% dividend yield. The headline today is simple. Earnings look solid on the surface, yet the emotional tailwind around “cheap power utility” clashes with a more complicated profit story.
Net income excluding extra items of ¥137.1b and basic earnings per share of ¥123.02 keep the trailing margin picture intact, but a large one off...