Worth reading
61In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
859.5
%Wording
Conditional
How definitive the wording is.Results for this period
First quarter1 April 2026 to 30 June 2026ConsolidatedIFRSNet Sales3,407,831¥ millionYear on year +18.7%Progress 26.5%
Operating profit482,596¥ millionYear on year +859.5%Progress 79.1%
Ordinary income477,659¥ millionYear on year +976.0%Progress 81.0%
Net income attributable to owners of the parent414,981¥ millionProgress 100.0%
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¥154.64
Financial position at period-end
Total assets9,625,870¥ million
of which net assets 4,132,462 ¥ millionEquity ratio 38.9%vs. prior year-end +1.8pt
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+58,559
Investment-139,103
Financials-338,769
Net change-419,313
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¥470,133 million
Segment revenuePetroleum products and other ¥3,057,383 million (YoY +21.4%), Oil and natural gas development ¥87,389 million (YoY +14.0%), Functional Materials ¥100,464 million (YoY +18.8%), Electricity ¥58,820 million (YoY -23.5%), Renewable Energy ¥12,242 million (YoY +0.8%), Other ¥114,214 million (YoY -8.4%)
Segment profitPetroleum products and other ¥406,617 million, Oil and natural gas development ¥27,055 million, Functional Materials ¥11,732 million, Electricity ¥2,722 million, Renewable Energy ¥313 million, Other ¥35,181 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥12,850,000 million (YoY +9.2%)
Operating profit¥610,000 million (YoY +30.7%)
Ordinary income¥590,000 million (YoY +31.5%)
Net income¥415,000 million (YoY +60.4%)
Annual Dividend Forecast¥34 → ¥34（0.0%）
Factors Behind Changes in Business Performance
Higher crude oil prices, the weaker yen, an improvement in inventory valuation effects, improved supply-demand conditions for petrochemical products, higher crude oil selling prices and a sharp rise in butadiene market prices contributed to the increase in profit. Factors reducing profit included lower sales volumes of petroleum products, lower retail electricity sales volumes and higher electricity procurement costs.
Disclosure regarding the going concern assumption
Not applicable.
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 Not disclosed
Changes in the scope of consolidationMaterial changes No / New Not disclosed / Excluded Not disclosed / Company name Not disclosed
Material subsequent eventsAt a meeting of its board of directors held on 7 August 2026, the company resolved to acquire TPC Holdings, Inc. through a US corporation and make it a subsidiary, and entered into a merger agreement on the same day. The transaction is scheduled to be completed during October 2026, subject to approvals from the relevant authorities and other conditions.
Impairment loss¥2,376 million
Depreciation and amortization¥82,675 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End2,706,766,549
Treasury Shares at Period-End41,752,519
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | IFRS |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 June 2026 |
| Net Sales | ¥3,407,831 million (YoY +18.7%) |
| Operating profit | ¥482,596 million (YoY +859.5%) |
| Ordinary income | ¥477,659 million (YoY +976.0%) |
| Profit attributable to owners of the parent | ¥414,981 million |
| Net income per share | ¥154.64 |
| Equity ratio | End of the current fiscal period 38.9 / End of previous period 37.1 |
| Total assets | ¥9,625,870 million |
| Net assets | ¥4,132,462 million |
| Cash flows from operating activities | ¥58,559 million |
| Cash flows from investing activities | ¥-139,103 million |
| Cash flows from financing activities | ¥-338,769 million |
| Cash and cash equivalents at end of period | ¥470,133 million |
| Full-year earnings forecast | Net Sales ¥12,850,000 million (YoY +9.2%) / Operating profit ¥610,000 million (YoY +30.7%) / Ordinary income ¥590,000 million (YoY +31.5%) / Net income ¥415,000 million (YoY +60.4%) |
| Annual Dividend Forecast | ¥34 → ¥34（0.0%） |
| Segment revenue | Petroleum products and other ¥3,057,383 million (YoY +21.4%), Oil and natural gas development ¥87,389 million (YoY +14.0%), Functional Materials ¥100,464 million (YoY +18.8%), Electricity ¥58,820 million (YoY -23.5%), Renewable Energy ¥12,242 million (YoY +0.8%), Other ¥114,214 million (YoY -8.4%) |
| Segment profit | Petroleum products and other ¥406,617 million, Oil and natural gas development ¥27,055 million, Functional Materials ¥11,732 million, Electricity ¥2,722 million, Renewable Energy ¥313 million, Other ¥35,181 million |
| Depreciation and amortization | ¥82,675 million |
| Impairment loss | ¥2,376 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement Not disclosed |
| Changes in the scope of consolidation | Material changes No / New Not disclosed / Excluded Not disclosed / Company name Not disclosed |
| Material subsequent events | At a meeting of its board of directors held on 7 August 2026, the company resolved to acquire TPC Holdings, Inc. through a US corporation and make it a subsidiary, and entered into a merger agreement on the same day. The transaction is scheduled to be completed during October 2026, subject to approvals from the relevant authorities and other conditions. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 2,706,766,549 |
| Treasury Shares at Period-End | 41,752,519 |
| Factors Behind Changes in Business Performance | Higher crude oil prices, the weaker yen, an improvement in inventory valuation effects, improved supply-demand conditions for petrochemical products, higher crude oil selling prices and a sharp rise in butadiene market prices contributed to the increase in profit. Factors reducing profit included lower sales volumes of petroleum products, lower retail electricity sales volumes and higher electricity procurement costs. |
Items this document does not state (7)
Operating MarginRevision to Earnings ForecastPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogBreakdown of extraordinary income (loss)
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.Crude oil prices were ¥29 per barrel higher year on year and the yen depreciated by ¥14 against the US dollar on average. In addition, profits from inventory valuation effects increased. Improved supply-demand conditions for petrochemical products, higher crude oil selling prices and a sharp rise in butadiene market prices were also cited as factors contributing to the increase in profit.
How to read this page
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