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Presentation materials for financial results5020ENEOS Holdings,Inc.Energy Resources

FY2026 First-Quarter Financial Results Presentation

Profit increased significantly in the first quarter of FY2026, driven by higher overseas product market prices, improvements in refinery disruptions, and the time-lag effect. The full-year outlook was left unchanged from the figures announced in May, as the impact of the situation in the Middle East remains difficult to estimate reasonably. The company also announced its policy of acquiring the U.S. C4 materials business.

Worth reading
80Important
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
4323
¥100 million (year-on-year increase in operating profit)
Wording
Avoiding a definitive answer
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsFY2026 First Quarter12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales34,078 Hundreds of millions of yen+19.0%
Operating profit4,826 Hundreds of millions of yen+859.0%
Net income4,150 Hundreds of millions of yen
Results for the three months of the current quarterThe results for the first quarter of FY2026 were reported as follows: revenue of ¥3,407.8 billion, operating profit of ¥482.6 billion, profit before tax of ¥477.7 billion, and profit attributable to owners of the parent of ¥415.0 billion.
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Q1 progress exceeded expectations
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Time lag+¥83.4 billion
  • One-off gains and losses-¥63.4 billion
  • Volume impact (Petroleum Products and Other)–¥14.9 billion
  • Margins, expenses and other factors (Petroleum Products and Other)+¥119.9 billion
  • Resource price impact (Oil and Natural Gas Exploration and Production)+¥1.7 billion
  • Volume impact (Oil and Natural Gas Exploration and Production)-¥1.6 billion
  • Foreign exchange, expenses and other factors (Oil and Natural Gas Exploration and Production)+¥11.5 billion
  • Volume impact (Functional Materials)−¥0.2 billion
  • Margins, expenses and other factors (Functional Materials)+¥6.6 billion
  • Volume impact (Electricity)−¥0.5 billion
  • Margins, expenses and other factors (Electricity)-¥4.8 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Exchange rate155 Yen/Dollar
  • Dubai crude oil85 dollars/barrel
  • White product sales volume4,150 10,000 kiloliters
  • Oil-equivalent sales volume89 thousand barrels/day
  • Brent crude oil86 dollars/barrel
  • Elastomer sales index110 %
New initiatives
  • Acquisition of 100% of the shares of TPC Holdings, Inc.
    Scheduled timingScheduled to close in October 2026
    DetailsAcquisition of a business in Texas, U.S., engaged in the separation and refining of C4 fractions and the manufacture and sale of derivatives
  • Restructuring of group-company organization and structure
    DetailsSale of non-core businesses, intra-group reorganization, and reduction in the effective number of companies
  • Diversification of crude oil supply sources
    DetailsProcurement of U.S. crude oil and Middle Eastern crude oil transported without passing through the Strait of Hormuz, and mutual use of inventories
Key KPIsA metric the company considers important as a management benchmark.
  • Refinery utilization rate excluding scheduled maintenance (excluding the impact of the Middle East)84 %
  • Refinery utilization rate excluding scheduled maintenance (including the impact of the Middle East)68 %
  • Effective number of companies260 companies
  • North American butadiene market share ranking1 rank
  • Global butadiene production capacity ranking (after the acquisition)3 rank
Segment results
  • Petroleum products and other
    Operating profit4,066 Hundreds of millions of yen
  • Oil and natural gas development
    Operating profit271 Hundreds of millions of yen
    Year on year against the same period last year+¥11.6 billion, +75%
  • Functional Materials
    Operating profit117 Hundreds of millions of yen
    Year on year against the same period last year+¥6.4 billion, +121%
  • Electricity
    Operating profit27 Hundreds of millions of yen
    Year on year against the same period last year-¥5.3 billion, -66%
  • Renewable Energy
    Operating profit3 Hundreds of millions of yen
    Year on year against the same period last year±0
  • Other
    Operating profit342 Hundreds of millions of yen
    Year on year against the same period last year+¥14.6 billion, +74%
Medium-term management plan targets
  • TargetReduce the effective number of companies to approximately 170
    Comparison with actual results260 companies as of the end of June 2026
  • TargetReduce the number of companies by approximately 100 from the end of March 2025
    Comparison with actual results15 companies reduced as of the end of June 2026
  • Target90% refinery utilization rate excluding scheduled maintenance
    Target fiscal yearFY2027
    Comparison with actual resultsIn the first quarter of FY2026, 84% excluding the impact of the Middle East and 68% including the impact
Market Size / Share
  • North American butadiene market share ranking1 rank
  • North American 1-butene market share ranking1 rank
  • North American raffinate market share ranking1 rank
  • North American PIB market share ranking1 rank
  • North American DIB market share ranking1 rank
  • North American MTBE market share ranking3 rank
  • U.S. domestic chemical market size relative to Japan8 times
Capital expenditures
¥125 100 billion FY2026 forecast, including capital expenditures and completed M&A
Annual Dividend
Annual¥34 per share
Payout ratio
Considering additional shareholder returns equivalent to the amount calculated back from a 50% total payout ratio over two years
Acquisition of treasury shares
Buyback limit¥50 billion
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFY2026 First Quarter
Net Sales34,078 Hundreds of millions of yen (YoY +19.0%)
Operating profit4,826 Hundreds of millions of yen (YoY +859.0%)
Net income4,150 Hundreds of millions of yen
Results for the three months of the current quarterThe results for the first quarter of FY2026 were reported as follows: revenue of ¥3,407.8 billion, operating profit of ¥482.6 billion, profit before tax of ¥477.7 billion, and profit attributable to owners of the parent of ¥415.0 billion.
Self-assessment against the planQ1 progress exceeded expectations
Segment resultsSegment Petroleum products and other / Sales Not disclosed / Operating profit 4,066 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Segment Oil and natural gas development / Sales Not disclosed / Operating profit 271 Hundreds of millions of yen / Year on year against the same period last year +¥11.6 billion, +75%, Segment Functional Materials / Sales Not disclosed / Operating profit 117 Hundreds of millions of yen / Year on year against the same period last year +¥6.4 billion, +121%, Segment Electricity / Sales Not disclosed / Operating profit 27 Hundreds of millions of yen / Year on year against the same period last year -¥5.3 billion, -66%, Segment Renewable Energy / Sales Not disclosed / Operating profit 3 Hundreds of millions of yen / Year on year against the same period last year ±0, Segment Other / Sales Not disclosed / Operating profit 342 Hundreds of millions of yen / Year on year against the same period last year +¥14.6 billion, +74%
Breakdown of Factors Affecting the ChangeFactors Time lag / Amount +¥83.4 billion, Factors One-off gains and losses / Amount -¥63.4 billion, Factors Volume impact (Petroleum Products and Other) / Amount –¥14.9 billion, Factors Margins, expenses and other factors (Petroleum Products and Other) / Amount +¥119.9 billion, Factors Resource price impact (Oil and Natural Gas Exploration and Production) / Amount +¥1.7 billion, Factors Volume impact (Oil and Natural Gas Exploration and Production) / Amount -¥1.6 billion, Factors Foreign exchange, expenses and other factors (Oil and Natural Gas Exploration and Production) / Amount +¥11.5 billion, Factors Volume impact (Functional Materials) / Amount −¥0.2 billion, Factors Margins, expenses and other factors (Functional Materials) / Amount +¥6.6 billion, Factors Volume impact (Electricity) / Amount −¥0.5 billion, Factors Margins, expenses and other factors (Electricity) / Amount -¥4.8 billion
Key KPIsIndicator Refinery utilization rate excluding scheduled maintenance (excluding the impact of the Middle East) / Value 84 % / Year on year against the same period last year Not disclosed, Indicator Refinery utilization rate excluding scheduled maintenance (including the impact of the Middle East) / Value 68 % / Year on year against the same period last year Not disclosed, Indicator Effective number of companies / Value 260 companies / Year on year against the same period last year Not disclosed, Indicator North American butadiene market share ranking / Value 1 rank / Year on year against the same period last year Not disclosed, Indicator Global butadiene production capacity ranking (after the acquisition) / Value 3 rank / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookItem Exchange rate / Value 155 Yen/Dollar, Item Dubai crude oil / Value 85 dollars/barrel, Item White product sales volume / Value 4,150 10,000 kiloliters, Item Oil-equivalent sales volume / Value 89 thousand barrels/day, Item Brent crude oil / Value 86 dollars/barrel, Item Elastomer sales index / Value 110 %
Medium-term management plan targetsTarget Reduce the effective number of companies to approximately 170 / Target fiscal year Not disclosed / Comparison with actual results 260 companies as of the end of June 2026, Target Reduce the number of companies by approximately 100 from the end of March 2025 / Target fiscal year Not disclosed / Comparison with actual results 15 companies reduced as of the end of June 2026, Target 90% refinery utilization rate excluding scheduled maintenance / Target fiscal year FY2027 / Comparison with actual results In the first quarter of FY2026, 84% excluding the impact of the Middle East and 68% including the impact
Annual DividendAnnual ¥34 per share / Interim Not disclosed / End of period Not disclosed
Payout ratioConsidering additional shareholder returns equivalent to the amount calculated back from a 50% total payout ratio over two years
Acquisition of treasury sharesBuyback limit ¥50 billion / Number of Shares Not disclosed / Period Not disclosed
Capital expenditures¥125 100 billion (FY2026 forecast, including capital expenditures and completed M&A)
Market Size / ShareItem North American butadiene market share ranking / Value 1 rank, Item North American 1-butene market share ranking / Value 1 rank, Item North American raffinate market share ranking / Value 1 rank, Item North American PIB market share ranking / Value 1 rank, Item North American DIB market share ranking / Value 1 rank, Item North American MTBE market share ranking / Value 3 rank, Item U.S. domestic chemical market size relative to Japan / Value 8 times
New initiativesMeasures Acquisition of 100% of the shares of TPC Holdings, Inc. / Scheduled timing Scheduled to close in October 2026 / Details Acquisition of a business in Texas, U.S., engaged in the separation and refining of C4 fractions and the manufacture and sale of derivatives, Measures Restructuring of group-company organization and structure / Details Sale of non-core businesses, intra-group reorganization, and reduction in the effective number of companies, Measures Diversification of crude oil supply sources / Details Procurement of U.S. crude oil and Middle Eastern crude oil transported without passing through the Strait of Hormuz, and mutual use of inventories
Items this document does not state (13)
Ordinary incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesFull-year earnings forecastProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsOrders received and order backlogKey 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 increase in operating profit was primarily attributable to improved performance in the Petroleum Products segment, driven by the positive time-lag effect, improvements in refinery disruptions, and higher overseas product market prices. In Oil and Natural Gas Exploration and Production, higher resource prices and the weaker yen contributed to the increase in profit. In Functional Materials, higher butadiene market prices were a factor, while in Other, higher profit at JX Metals and the reversal of impairment losses recorded in the previous year contributed to the increase. Electricity reported lower profit due to the end of the interconnection line system and higher power procurement costs.

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FY2026 First-Quarter Financial Results Presentation | ENEOS Holdings,Inc. (5020) timely disclosure | Komori