Worth reading
60In focus
Scored from 4 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
30.8
% (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales8,105,891¥ millionYear on year -11.8%
Operating profit212,203¥ millionYear on year +30.8%
Ordinary income229,646¥ millionYear on year +6.9%
Net income attributable to owners of the parent171,914¥ millionYear on year +65.2%Progress 229.2%
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¥140.38
Operating Margin2.6%
Financial position at period-end
Total assets5,328,792¥ million
of which net assets 1,951,099 ¥ millionEquity ratio 36.0%vs. prior year-end 0.0pt
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+392,429
Investment-291,632
Financials-104,926
Net change-4,129
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¥157,088 million
Segment revenueFuel oil 67,934 Hundreds of millions of yen (YoY -11.7%), Basic Chemicals 4,914 Hundreds of millions of yen (YoY -16.3%), High-Performance Materials 5,032 Hundreds of millions of yen (YoY -0.0%), Electricity and Renewable Energy 982 Hundreds of millions of yen (YoY -23.0%), Resource 2,035 Hundreds of millions of yen (YoY -23.3%), Other and adjustments 163 Hundreds of millions of yen (YoY +55.7%)
Segment profitFuel oil 1,777 Hundreds of millions of yen (YoY +45.5%), Basic Chemicals -68 Hundreds of millions of yen, High-Performance Materials 334 Hundreds of millions of yen (YoY +18.5%), Electricity and Renewable Energy -18 Hundreds of millions of yen, Resource 331 Hundreds of millions of yen (YoY -57.2%), Other 9 Hundreds of millions of yen (YoY -20.0%), Adjustments -218 Hundreds of millions of yen
Regional sales¥5,557,247 million, ¥827,000 million, ¥896,614 million, ¥711,667 million, ¥113,361 million
Outlook and shareholder returns
Full-year earnings forecast
Net SalesNot disclosed
Operating profitNot disclosed
Ordinary incomeNot disclosed
Net income¥75,000 million
Profit before tax excluding financial costs (excluding inventory impact)¥140,000 million
Profit attributable to owners of the parent (excluding inventory impact)¥90,000 million
Accounting standardsIFRS
Annual Dividend Forecast¥36 /share (annual) → ¥36 /share (annual)（0.0%）
Payout ratio25.6%
Shareholder Return PolicyTotal payout ratio of at least 50% of profit for the year excluding inventory valuation effects for fiscal 2026–2030, with progressive dividends subject to a minimum annual dividend of ¥36 for fiscal 2026
Factors Behind Changes in Business Performance
Revenue declined due mainly to the fall in crude oil prices in the petroleum products segment. Operating income increased mainly because the positive time-lag effect of the sharp rise in crude oil prices in the petroleum products segment exceeded the impact of lower coal market prices in the resources segment.
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 No修正再表示 No
Changes in the scope of consolidationNew 1 company: 富士石油(株) / Excluded Not disclosed
Impairment loss¥18,095 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥3,051 million, Gain on sale of investment securities ¥2,603 million, Gain on step acquisition ¥8,148 million, Gain on negative goodwill ¥8,428 million, Other ¥5,297 million / Extraordinary loss Impairment Losses ¥18,095 million, Loss on sale of fixed assets ¥137 million, Loss on Disposal of Fixed Assets ¥11,465 million, Other ¥5,341 million
Depreciation and amortization¥95,966 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End1,288,747,390 Shares
Treasury Shares at Period-End70,475,150 Shares
| 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 | ¥8,105,891 million (YoY -11.8%) |
| Operating profit | ¥212,203 million (YoY +30.8%) |
| Ordinary income | ¥229,646 million (YoY +6.9%) |
| Profit attributable to owners of the parent | ¥171,914 million (YoY +65.2%) |
| Net income per share | ¥140.38 |
| Operating Margin | 2.6% |
| Equity ratio | End of the current fiscal period 36.0% / End of previous period 36.0% |
| Total assets | ¥5,328,792 million |
| Net assets | ¥1,951,099 million |
| Cash flows from operating activities | ¥392,429 million |
| Cash flows from investing activities | ¥-291,632 million |
| Cash flows from financing activities | ¥-104,926 million |
| Cash and cash equivalents at end of period | ¥157,088 million |
| Full-year earnings forecast | Net Sales Not disclosed / Operating profit Not disclosed / Ordinary income Not disclosed / Net income ¥75,000 million / Profit before tax excluding financial costs (excluding inventory impact) ¥140,000 million / Profit attributable to owners of the parent (excluding inventory impact) ¥90,000 million / Accounting standards IFRS |
| Annual Dividend Forecast | ¥36 /share (annual) → ¥36 /share (annual)（0.0%） |
| Payout ratio | 25.6% |
| Shareholder Return Policy | Total payout ratio of at least 50% of profit for the year excluding inventory valuation effects for fiscal 2026–2030, with progressive dividends subject to a minimum annual dividend of ¥36 for fiscal 2026 |
| Segment revenue | Fuel oil 67,934 Hundreds of millions of yen (YoY -11.7%), Basic Chemicals 4,914 Hundreds of millions of yen (YoY -16.3%), High-Performance Materials 5,032 Hundreds of millions of yen (YoY -0.0%), Electricity and Renewable Energy 982 Hundreds of millions of yen (YoY -23.0%), Resource 2,035 Hundreds of millions of yen (YoY -23.3%), Other and adjustments 163 Hundreds of millions of yen (YoY +55.7%) |
| Segment profit | Fuel oil 1,777 Hundreds of millions of yen (YoY +45.5%), Basic Chemicals -68 Hundreds of millions of yen, High-Performance Materials 334 Hundreds of millions of yen (YoY +18.5%), Electricity and Renewable Energy -18 Hundreds of millions of yen, Resource 331 Hundreds of millions of yen (YoY -57.2%), Other 9 Hundreds of millions of yen (YoY -20.0%), Adjustments -218 Hundreds of millions of yen |
| Regional sales | ¥5,557,247 million, ¥827,000 million, ¥896,614 million, ¥711,667 million, ¥113,361 million |
| Depreciation and amortization | ¥95,966 million |
| Impairment loss | ¥18,095 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥3,051 million, Gain on sale of investment securities ¥2,603 million, Gain on step acquisition ¥8,148 million, Gain on negative goodwill ¥8,428 million, Other ¥5,297 million / Extraordinary loss Impairment Losses ¥18,095 million, Loss on sale of fixed assets ¥137 million, Loss on Disposal of Fixed Assets ¥11,465 million, Other ¥5,341 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 No / Restatement No |
| Changes in the scope of consolidation | New 1 company: 富士石油(株) / Excluded Not disclosed |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 1,288,747,390 Shares |
| Treasury Shares at Period-End | 70,475,150 Shares |
| Factors Behind Changes in Business Performance | Revenue declined due mainly to the fall in crude oil prices in the petroleum products segment. Operating income increased mainly because the positive time-lag effect of the sharp rise in crude oil prices in the petroleum products segment exceeded the impact of lower coal market prices in the resources segment. |
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.Revenue declined mainly because of the fall in crude oil prices in the petroleum products segment. Operating income increased mainly because the positive time-lag effect of the sharp rise in crude oil prices in the petroleum products segment exceeded the impact of lower coal market prices in the resources segment. Growth in ordinary income was restrained by a decline in equity-method investment gain, among other factors, but net income attributable to owners of the parent increased after accounting for extraordinary income and losses, income taxes and other items.
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