Worth reading
63In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
400
¥100 millionWording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings summaryThird quarter of the fiscal year ending December 20268 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥14,292 100 million-6.0%
Operating profit¥9,228 100 million+5.7%
Ordinary income¥9,533 100 million+4.6%
Net income¥4,076 100 million+38.9%
Selling, general and administrative expenses¥898 100 million
Full-year earnings forecast
Revenue
¥18,750 100 million
Operating profit
¥12,030 100 million
Profit before tax
¥12,570 100 million
Profit for the period attributable to owners of the parent
¥5,500 100 million
ROIC
9.8 %
ROE
11.3 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Decline in sales volume¥-3,302 100 million
- Higher selling prices¥1,337 100 million
- Foreign Exchange¥835 100 million
- Other¥215 100 million
- Lower revenue¥-914 100 million
- Decrease in cost of sales¥264 100 million
- Lower exploration expenses¥52 100 million
- Higher SG&A Expenses¥-88 100 million
- Equity-Method Income¥766 100 million
- Other income and expenses¥323 100 million
- Income Taxes¥737 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Average oil price during the period (Brent)$90 /bbl
- Average exchange rate during the period158.2 yen/US$
- WACCApproximately 6%
- Cost of equityApproximately 8%
New initiatives
- Commencement of operations of the low-pressure production facilities (BCM) for the first train of Ichthys LNG
- Commencement of pilot production in the FSDA North/South blocks of the Beetaloo Basin
- Commencement of FEED for Bonaparte CCS
- Completion of FEED and launch of the EPC tender for Abadi LNG
- Agreement on LNG and pipeline gas sales contracts with 3 buyers
- Acquisition of Block 2E offshore Sarawak, Malaysia
- Additional acquisition of interests in the Southwest Caspian Sea oil fields
- Accumulation of ¥365 billion in Abadi development preparation funds
Key KPIsA metric the company considers important as a management benchmark.
- Average oil price during the period (Brent)$88.86 /bblYear on year against the same period last year+27.1%
- Average exchange rate during the period158.67 yen/US$Year on year against the same period last year7.1% yen depreciation
- Basic quarterly earnings per share (EPS)¥351.19Year on year against the same period last year+43.1%
- Net production (crude oil, condensate and LPG)369 thousand BOE/day
- Net production (crude oil and natural gas)633 thousand BOE/day
- Total natural gas production1,399 million cf/day
- Ichthys LNG cargo shipments106 Cargoes actuals for January–October 2026
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Sales volume72,561 thousand bblProductsCrude oilYear on year against the same period last year-33.2%
- Average overseas selling price$82.84 /bblProductsCrude oilYear on year against the same period last year+15.4%
- Sales volume383,116 million cfProductsNatural gas (excluding LPG)Year on year against the same period last year+12.7%
- Average overseas selling price$5.46 /thousand cfProductsNatural gas (excluding LPG)Year on year against the same period last year+6.0%
- Average domestic selling price83.13 yen/m3ProductsNatural gas (excluding LPG)Year on year against the same period last year+3.7%
Financial targets
ROIC
9.8 %
ROE
11.3 %
Net debt-to-equity ratio
0.37 Times
Payout ratio
Policy of maintaining a total payout ratio of 50% or moreAcquisition of treasury shares
Cash outlays for share buybacks are included in shareholder returns, but the amount, number of shares and period of the buyback authorization are Not disclosed| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings summary |
| Fiscal Period Covered | Third quarter of the fiscal year ending December 2026 |
| Net Sales | ¥14,292 100 million (YoY -6.0%) |
| Operating profit | ¥9,228 100 million (YoY +5.7%) |
| Ordinary income | ¥9,533 100 million (YoY +4.6%) |
| Net income | ¥4,076 100 million (YoY +38.9%) |
| Selling, general and administrative expenses | ¥898 100 million |
| Full-year earnings forecast | Revenue ¥18,750 100 million / Operating profit ¥12,030 100 million / Profit before tax ¥12,570 100 million / Profit for the period attributable to owners of the parent ¥5,500 100 million / ROIC 9.8 % / ROE 11.3 % |
| Breakdown of Factors Affecting the Change | Factors Decline in sales volume / Amount ¥-3,302 100 million, Factors Higher selling prices / Amount ¥1,337 100 million, Factors Foreign Exchange / Amount ¥835 100 million, Factors Other / Amount ¥215 100 million, Factors Lower revenue / Amount ¥-914 100 million, Factors Decrease in cost of sales / Amount ¥264 100 million, Factors Lower exploration expenses / Amount ¥52 100 million, Factors Higher SG&A Expenses / Amount ¥-88 100 million, Factors Equity-Method Income / Amount ¥766 100 million, Factors Other income and expenses / Amount ¥323 100 million, Factors Income Taxes / Amount ¥737 100 million |
| Key KPIs | Indicator name Average oil price during the period (Brent) / Value $88.86 /bbl / Year on year against the same period last year $27.1 /bbl, Indicator name Average exchange rate during the period / Value 158.67 yen/US$ / Year on year against the same period last year 7.1% yen depreciation, Indicator name Basic quarterly earnings per share (EPS) / Value ¥351.19 / Year on year against the same period last year ¥43.1, Indicator name Net production (crude oil, condensate and LPG) / Value 369 thousand BOE/day / Year on year against the same period last year Not disclosed, Indicator name Net production (crude oil and natural gas) / Value 633 thousand BOE/day / Year on year against the same period last year Not disclosed, Indicator name Total natural gas production / Value 1,399 million cf/day / Year on year against the same period last year Not disclosed, Indicator name Ichthys LNG cargo shipments / Value 106 Cargoes (actuals for January–October 2026) / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Products Crude oil / Indicator Sales volume / Value 72,561 thousand bbl / Year on year against the same period last year -33.2 thousand bbl, Products Crude oil / Indicator Average overseas selling price / Value $82.84 /bbl / Year on year against the same period last year $15.4 /bbl, Products Natural gas (excluding LPG) / Indicator Sales volume / Value 383,116 million cf / Year on year against the same period last year 12.7 million cf, Products Natural gas (excluding LPG) / Indicator Average overseas selling price / Value $5.46 /thousand cf / Year on year against the same period last year $6 /thousand cf, Products Natural gas (excluding LPG) / Indicator Average domestic selling price / Value 83.13 yen/m3 / Year on year against the same period last year 3.7 yen/m3 |
| Assumptions Underlying the Business Outlook | Item Average oil price during the period (Brent) / Value $90 /bbl, Item Average exchange rate during the period / Value 158.2 yen/US$, Item WACC / Value Approximately 6%, Item Cost of equity / Value Approximately 8% |
| Financial targets | ROIC Value 9.8 % / ROE Value 11.3 % / Net debt-to-equity ratio Value 0.37 Times |
| Payout ratio | Policy of maintaining a total payout ratio of 50% or more |
| Acquisition of treasury shares | Cash outlays for share buybacks are included in shareholder returns, but the amount, number of shares and period of the buyback authorization are Not disclosed |
| New initiatives | Commencement of operations of the low-pressure production facilities (BCM) for the first train of Ichthys LNG, Commencement of pilot production in the FSDA North/South blocks of the Beetaloo Basin, Commencement of FEED for Bonaparte CCS, Completion of FEED and launch of the EPC tender for Abadi LNG, Agreement on LNG and pipeline gas sales contracts with 3 buyers, Acquisition of Block 2E offshore Sarawak, Malaysia, Additional acquisition of interests in the Southwest Caspian Sea oil fields, Accumulation of ¥365 billion in Abadi development preparation funds |
Items this document does not state (15)
Gross Profit MarginOperating profit marginResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planSegment resultsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company explained that profit increased despite lower revenue due to lower crude oil sales volumes, reflecting higher selling prices, increased equity-method income from Ichthys downstream operations, and lower corporate taxes and other taxes. The upward revision to the full-year profit forecast was mainly attributable to higher selling prices and solid production of Ichthys LNG.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.