Notes to Consolidated Financial Statements4

HOKURIKU ELECTRIC POWER COMPANY AND CONSOLIDATED SUBSIDIARIES
March 31, 2016

6. Notes to Consolidated Statements of Operations

(a) Provision

 Retirement benefit expense and provision included in the consolidated statement of operations for the fiscal year March 31, 2016 and 2015 were as follows:

Millions of yen / Millions of yen / Thousands of U.S. dollars

201620152016
Retirement benefit expenses¥1,253¥5,523$11,121
Provision for reprocessing of irradiated nuclear fuel8691,0177,713
Provision for preparation of the reprocessing of irradiated nuclear fuel without specific plans¥234225$2,084

(b) Operating expenses

 Details of operating expenses in the electric power business for the years ended March 31, 2016 and 2015 were as follows:

Millions of yen

Operating expenses in the electric power business
2016Selling, general and administrative expenses
Personnel¥44,318¥16,100
(Retirement benefit expense)(272)(272)
Fuel102,396-
Maintenance58,1701,020
Depreciation64,3342,689
Purchased electric power63,802-
Other132,98119,937
Subtotal466,00339,747
Intercompany elimination(5,439)-
Total¥460,563¥ -

Millions of yen

Operating expenses in the electric power business
2015Selling, general and administrative expenses
Personnel¥50,521¥21,428
(Provision for retirement benefits)4,6744,674
Fuel128,758-
Maintenance61,0191,372
Depreciation67,5292,978
Purchased electric power56,202-
Other114,29519,631
Subtotal478,32745,410
Intercompany elimination(3,691)-
Total¥474,635¥ -

Thousands of U.S. dollars

Operating expenses in the electric power business
2016Selling, general and administrative expenses
Personnel$393,277$142,871
(Retirement benefit expense)(2,415)(2,415)
Fuel908,653-
Maintenance516,1979,056
Depreciation570,89423,865
Purchased electric power566,175-
Other1,180,068176,926
Subtotal4,135,266352,719
Intercompany elimination(48,267)-
Total$4,086,999$ -

(c) Research and development expenses

 Total research and development expenses included in the consolidated statements of operations for the fiscal years ended March 31, 2016 and 2015 were as follows:

Millions of yen / Millions of yen / Thousands of U.S. dollars

201620152016
Research and development expenses¥1,405¥1,508$12,471

(d) Depreciation of construction in progress

 Prospective assets for electricity business that were acquired in advance were posted in the construction preparatory section of the construction in progress account. Due to changes in circumstances since that time, however, the decision to halt construction was taken and the sum paid for the settlement of construction preparatory section was recorded as losses.

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