Japanese utilities were hit by high fuel costs last year as a post-pandemic energy crisis was exacerbated by Russia's invasion of Ukraine. The government has also delayedraising electricity prices as it tries to rein in inflation, at time when companies are feeling pressure to work towards meeting a national carbon neutrality goal set for 2050. Kyushu Electric's preferred shares will "secure early funding for carbon neutral initiatives and expansion of growth businesses while strengthening our financial base," Tatsuo Kumadaki, deputy general manager of its Tokyo branch, told a news conference.