Japan’s JERA posts 5.2% rise in annual profit

TOKYO, April 27 : JERA, Japan’s biggest power generation utility, on Monday said its profit for the fiscal year that ended in March rose 5.2 per cent from a year earlier to 193.5 billion yen ($1.21 billion).

The increase was supported by a boost in JERA’s overseas power generation and renewable energy business, among other factors, the company said.

JERA, also Japan’s biggest buyer of liquefied natural gas, did not disclose its performance forecast for the current fiscal year, citing market uncertainty due to the U.S.-Israeli war on Iran and resulting closure of the Strait of Hormuz, through which about 20 per cent of the world’s oil and LNG passes.

($1 = 159.3200 yen)