Stable profitability, thanks to ongoing government support for business operations, a substantial decline in fuel prices, and cost reductions Continued benefits from its vertically integrated business model and pricing formula under a supportive regulatory framework even after the shift to a holding company structure Unlikely rapid loss of its virtual monopoly in greater Tokyo's electricity market (company sales in this market are one-third of the national market) and its strong business and customer bases Uncertain sustainable improvement in profitability because a restart of its Kashiwazaki-Kariwa nuclear power plant is not yet in sight and costs related to the crisis at its Fukushima No. 1 nuclear power plant continue to accrue Stabilizing cash flow that is nevertheless unlikely to improve materially,
