Worth reading
71In focus
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
-12.5
% (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales340,336¥ millionYear on year -12.5%Progress 112.3%
Operating profit38,915¥ millionYear on year -37.2%Progress 94.9%
Ordinary income61,556¥ millionYear on year -4.1%Progress 136.8%
Net income attributable to owners of the parent53,427¥ millionYear on year -34.2%Progress 89.0%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥208.74
Operating Margin11.4%
Financial position at period-end
Total assets862,470¥ million
of which net assets 658,897 ¥ millionEquity ratio 72.8%vs. prior year-end -4.6pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+102,976
Investment-200,494
Financials+6,007
Net change-91,511
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥49,954 million
Segment revenueJapan ¥248,194 million (YoY -11.3%), North America ¥52,377 million (YoY -6.0%), Europe ¥8,072 million (YoY -57.9%), Middle East ¥31,692 million (YoY -7.6%)
Segment profitJapan ¥30,869 million (YoY -31.4%), North America ¥17,082 million (YoY -19.0%), Europe ¥1,626 million (YoY -70.9%), Middle East ¥2,968 million (YoY -28.6%)
Regional sales¥248,138 million, ¥52,377 million, ¥31,747 million, ¥8,072 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥303,000 million (YoY -11.0%)
Operating profit¥41,000 million (YoY +5.4%)
Ordinary income¥45,000 million (YoY -26.9%)
Net income¥60,000 million (YoY +12.3%)
Annual Dividend Forecast¥65 per share → ¥45 per share（-30.8%）
Payout ratio31.1%
Shareholder Return PolicyTarget a consolidated dividend payout ratio of 30% and endeavor to maintain annual dividends of ¥40 per share even when business performance deteriorates
Factors Behind Changes in Business Performance
Lower selling prices for crude oil and natural gas, lower sales volumes of liquefied natural gas, and other factors.
Disclosure regarding the going concern assumption
No applicable matters
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 Yes修正再表示 No
Changes in the scope of consolidationNew Number of companies 2 / Company name Peoria Resources, LLC, Verdad Resources Intermediate Holdings LLC / Excluded Number of companies 2 / Company name JAPEX UK E&P LIMITED, 株式会社ジャペックスエネルギー
Impairment loss¥2,185 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of shares in a subsidiary ¥862 million, Gain on sale of shares of an associated company ¥664 million, Subsidy Income ¥382 million, Gain on transfer of interests ¥2,992 million, Other ¥165 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥29 million, Impairment Losses ¥2,185 million, Loss on sale of shares in a subsidiary ¥467 million, Loss on reduction of fixed assets ¥382 million, Other ¥0 million
Depreciation and amortization¥47,050 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable Yes / Subject person Institutional investors and analysts
Issued Shares at Period-End257,000,380
Treasury Shares at Period-End1,000,978
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥340,336 million (YoY -12.5%) |
| Operating profit | ¥38,915 million (YoY -37.2%) |
| Ordinary income | ¥61,556 million (YoY -4.1%) |
| Profit attributable to owners of the parent | ¥53,427 million (YoY -34.2%) |
| Net income per share | ¥208.74 |
| Operating Margin | 11.4% |
| Equity ratio | End of the current fiscal period 72.8% / End of previous period 77.4% |
| Total assets | ¥862,470 million |
| Net assets | ¥658,897 million |
| Cash flows from operating activities | ¥102,976 million |
| Cash flows from investing activities | ¥-200,494 million |
| Cash flows from financing activities | ¥6,007 million |
| Cash and cash equivalents at end of period | ¥49,954 million |
| Full-year earnings forecast | Net Sales ¥303,000 million (YoY -11.0%) / Operating profit ¥41,000 million (YoY +5.4%) / Ordinary income ¥45,000 million (YoY -26.9%) / Net income ¥60,000 million (YoY +12.3%) |
| Annual Dividend Forecast | ¥65 per share → ¥45 per share（-30.8%） |
| Payout ratio | 31.1% |
| Shareholder Return Policy | Target a consolidated dividend payout ratio of 30% and endeavor to maintain annual dividends of ¥40 per share even when business performance deteriorates |
| Segment revenue | Japan ¥248,194 million (YoY -11.3%), North America ¥52,377 million (YoY -6.0%), Europe ¥8,072 million (YoY -57.9%), Middle East ¥31,692 million (YoY -7.6%) |
| Segment profit | Japan ¥30,869 million (YoY -31.4%), North America ¥17,082 million (YoY -19.0%), Europe ¥1,626 million (YoY -70.9%), Middle East ¥2,968 million (YoY -28.6%) |
| Regional sales | ¥248,138 million, ¥52,377 million, ¥31,747 million, ¥8,072 million |
| Depreciation and amortization | ¥47,050 million |
| Impairment loss | ¥2,185 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of shares in a subsidiary ¥862 million, Gain on sale of shares of an associated company ¥664 million, Subsidy Income ¥382 million, Gain on transfer of interests ¥2,992 million, Other ¥165 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥29 million, Impairment Losses ¥2,185 million, Loss on sale of shares in a subsidiary ¥467 million, Loss on reduction of fixed assets ¥382 million, Other ¥0 million |
| Disclosure regarding the going concern assumption | No applicable matters |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate Yes / Restatement No |
| Changes in the scope of consolidation | New Number of companies 2 / Company name Peoria Resources, LLC, Verdad Resources Intermediate Holdings LLC / Excluded Number of companies 2 / Company name JAPEX UK E&P LIMITED, 株式会社ジャペックスエネルギー |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person Institutional investors and analysts |
| Issued Shares at Period-End | 257,000,380 |
| Treasury Shares at Period-End | 1,000,978 |
| Factors Behind Changes in Business Performance | Lower selling prices for crude oil and natural gas, lower sales volumes of liquefied natural gas, and other factors. |
Items this document does not state (3)
Revision to Earnings ForecastOrders received and order backlogMaterial subsequent events
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 factors contributing to the decline in income for the current fiscal year included lower selling prices for crude oil and natural gas, lower sales volumes of liquefied natural gas, higher selling, general and administrative expenses, and the absence of gains on the sale of investment securities recorded in the previous fiscal year. For the next fiscal year, the company expects lower crude oil sales volumes in the Middle East and higher costs due to alternative LNG procurement, while anticipating higher sales volumes in North America following the acquisition of Verdad Resources Intermediate Holdings LLC and higher crude oil prices.
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