Structural Decline in Domestic Petroleum Product Demand Driven by Fuel-Efficient Vehicles and Fuel Switching
First written in FY2016. 24 of 36 entries say "Restated". Latest entry: 2026-08-07.
The whole theme swung hardest in 2020: 4 of 7 companies on the "Worse" side.
3 other companies' latest entry also says "Restated".
- 2026-08-07RestatedEarnings
「Sales volumes of petroleum products declined 9.6% year on year because, in addition to the structural decline in domestic demand for petroleum products mainly due to greater vehicle fuel efficiency, export volumes decreased as the Company prioritized stable domestic supply.」
The structural decline in domestic demand for petroleum products, mainly due to greater fuel efficiency, continued to be disclosed. - FY2026RestatedAnnual report
「For petroleum products, sales volume increased 2.7% year on year as export volume increased in response to refinery operating conditions, despite the structural decline in domestic demand for petroleum products, mainly due to improved vehicle fuel efficiency, and the pursuit of profitable sales.」
While the structural decline in domestic demand due to improved fuel efficiency continues, sales volume increased 2.7% year on year due to higher export volume. - 2026-05-14RestatedEarnings
「Although domestic demand for petroleum products declined structurally, mainly because of greater vehicle fuel efficiency, and the Company continued to enforce profitable sales, sales volumes rose 2.7% year on year as export volumes increased in response to refinery operating conditions.」
The disclosure explicitly noted the structural decline in domestic demand, while sales volumes increased year on year as a result of higher exports. - FY2026-H1RestatedAnnual report
「For petroleum products, sales volume was broadly unchanged from the same period of the previous year, as export volume increased in response to refinery operating conditions, despite the structural decline in domestic demand for petroleum products, mainly due to improved vehicle fuel efficiency, and the pursuit of profitable sales.」
Although the structural decline in domestic demand due to improved fuel efficiency continues, petroleum product sales volume was broadly unchanged from the same period of the previous year due to higher export volume. - FY2025-H1RestatedAnnual report
「For petroleum products, sales volume decreased 4.6% year on year as export volume fell amid the structural decline in domestic demand for petroleum products, mainly due to improved vehicle fuel efficiency, and refinery operating conditions.」
The structural decline in domestic demand for petroleum products, mainly due to improved fuel efficiency, continued, compounded by a decrease in export volume caused by refinery operating conditions. - FY2024RestatedAnnual report
「Domestic demand for petroleum products remains below pre-pandemic levels due to the structural decline in demand.」
The structural decline in domestic demand for petroleum products due to improved fuel efficiency, fuel switching and other factors continues. - FY2024-Q3WorsenedAnnual report
「For petroleum products, sales volume decreased 5.5% year on year as export volume fell amid the structural decline in domestic demand for petroleum products, mainly due to improved vehicle fuel efficiency, and declining export market conditions.」
The decline in petroleum product sales volume widened from 3.4% to 4.1% and then to 5.5% year on year as declining export market conditions compounded the structural decline in domestic demand due to improved fuel efficiency. - FY2024-Q2RestatedAnnual report
「For petroleum products, sales volume decreased 4.1% year on year as export volume fell amid the structural decline in domestic demand for petroleum products, mainly due to improved vehicle fuel efficiency, and declining export market conditions.」
The structural decline in domestic demand, mainly due to improved fuel efficiency, continued, while declining export market conditions also contributed, resulting in a 4.1% year-on-year decrease in petroleum product sales volume. - FY2024-Q1RestatedAnnual report
「For petroleum products in the Energy segment, sales volume decreased 3.4% as export volume fell amid the structural decline in domestic demand for petroleum products, mainly due to improved vehicle fuel efficiency, and declining export market conditions.」
The structural decline in domestic demand for petroleum products, mainly due to improved fuel efficiency, continued, while declining export market conditions also contributed, resulting in a 3.4% year-on-year decrease in sales volume. - FY2023RestatedAnnual report
「Domestic demand for petroleum products has shown signs of recovery as the impact of COVID-19 has eased, but it remains below pre-pandemic levels due to the structural decline in demand.」
Recovery from the easing of the pandemic's impact and structural demand declines due to improved fuel efficiency, fuel switching and other factors are occurring concurrently. - FY2023-Q3Continued increase in sales volume due to higher exportsAnnual report
「Despite the structural decline in domestic demand for petroleum products, mainly due to improved vehicle fuel efficiency, sales volume increased 7.3% year on year as export volume rose amid the easing of the impact of COVID-19 and favorable export market conditions.」
Although the structural decline in domestic demand due to improved fuel efficiency continues, sales volume increased 7.3% year on year on the easing of the pandemic's impact and favorable export market conditions. - FY2023-Q2Increase in sales volume due to higher exportsAnnual report
「Despite the structural decline in domestic demand for petroleum products, mainly due to improved vehicle fuel efficiency, sales volume increased 9.4% as export volume rose amid the easing of the impact of COVID-19 and favorable export market conditions.」
While the structural decline in domestic demand due to improved fuel efficiency continues, Energy segment sales volume increased 9.4% year on year, supported by the easing of the pandemic's impact and favorable export market conditions. - FY2023-Q1Recovery in demand alongside structural declineAnnual report
「Despite the structural decline in demand primarily resulting from greater fuel efficiency in vehicles, sales volumes increased 14.0% due to the easing of the impact of COVID-19, favorable export market conditions and a rebound from refinery problems in the previous period.」
Although the structural decline in domestic demand due to improved fuel efficiency continues, sales volume increased 14.0% year on year, driven by the easing of the impact of the pandemic, favorable export market conditions and a recovery from refinery disruptions. - FY2022RestatedAnnual report
「Demand for petroleum and petrochemical products showed signs of recovery as the impact of COVID-19 eased, but remained below pre-pandemic levels.」
Although demand is showing signs of recovery, the structural decline in domestic demand due to fuel-efficient vehicles, fuel switching and decarbonization continues. - FY2022-Q3Continued decline in domestic sales volumes and increase in exportsAnnual report
「Export sales volumes increased due in part to a reversal from the same period of the previous year, while domestic sales volumes declined 0.4% year on year due to structural factors, primarily lower demand resulting from greater fuel efficiency in vehicles, as well as delayed demand recovery and other factors.」
Domestic sales volumes declined 0.4% year on year due to the structural decline in demand and delayed demand recovery, while export sales volumes increased. The risk of declining domestic demand continues. - FY2022-Q2Continued decline in domestic sales volumesAnnual report
「Domestic sales volumes declined 0.7% year on year due to structural factors, primarily lower demand resulting from greater fuel efficiency in vehicles, as well as delayed demand recovery and other factors.」
Domestic sales volumes declined 0.7% year on year due to the structural decline in demand resulting from greater fuel efficiency and delayed demand recovery. Export sales volumes, meanwhile, increased. - FY2022-Q1Slight increase in domestic sales alongside lower exportsAnnual report
「Although demand for petroleum and petrochemical products showed signs of recovery, sales volumes increased 0.3% year on year for domestic sales and declined 7.5% for exports due to structural factors including lower demand resulting from greater fuel efficiency in vehicles.」
Demand showed signs of recovery as the impact of COVID-19 eased, and domestic sales volumes edged up year on year. However, the structural decline in demand due to greater fuel efficiency and other factors, as well as the decline in exports, continued. - FY2021RestatedAnnual report
「Domestic petroleum product demand is expected to continue declining as the spread of fuel-efficient vehicles and the shift to gas, electricity and other energy sources progress in response to accelerating efforts to achieve a decarbonized society.」
The structural decline in domestic petroleum product demand due to fuel-efficient vehicles, fuel switching and decarbonization continues to be identified. - FY2021-Q3Continued decline in domestic and overseas sales volumesAnnual report
「Sales volumes, centered on jet fuel, diesel and gasoline, declined 14.4% year on year for domestic sales and 63.4% for exports.」
In addition to the structural decline in domestic petroleum product demand, domestic sales volumes continued to decline due to the impact of COVID-19, while the decline in exports widened from the previous quarter. - FY2021-Q2RestatedAnnual report
「Sales volumes, centered on jet fuel, diesel and gasoline, declined 16.6% year on year for domestic sales and 61.0% for exports.」
In addition to the structural decline in domestic demand due to greater fuel efficiency and other factors, demand continued to decline because of COVID-19. The factors behind the sharp decline in demand are also described in another thread. - FY2021-Q1Sharp decline in demand due to COVID-19Annual report
「The spread of COVID-19 led to a significant decline in domestic and overseas demand for petroleum and petrochemical products. Sales volumes, centered on jet fuel and gasoline, declined 16.5% year on year for domestic sales and 55.6% for exports.」
In addition to the structural decline in domestic demand due to greater fuel efficiency and other factors, the sharp decline in petroleum product demand caused by the spread of COVID-19 was recorded in results. - FY2020RestatedAnnual report
「Domestic petroleum product demand was generally below the previous consolidated fiscal year, including lower gasoline demand due to the spread of fuel-efficient vehicles and lower kerosene demand due to a record warm winter.」
The structural decline in domestic petroleum product demand, including lower gasoline demand due to the spread of fuel-efficient vehicles, is continuing. - FY2020-Q3RestatedAnnual report
「In the petroleum products business, domestic petroleum product demand declined due to the impact of structural changes, including greater fuel efficiency in vehicles.」
The structural decline in domestic petroleum product demand due to greater fuel efficiency in vehicles and other factors continues to be identified. - FY2020-Q2RestatedAnnual report
「In the petroleum products business, domestic petroleum product demand declined due to the impact of structural changes, including greater fuel efficiency in vehicles.」
The structural decline in domestic petroleum product demand due to greater fuel efficiency in vehicles and other factors is continuing. - FY2020-Q1RestatedAnnual report
「In the petroleum products business, domestic petroleum product demand declined due to the impact of structural changes, including greater fuel efficiency in vehicles.」
The structural decline in domestic petroleum product demand due to greater fuel efficiency in vehicles and other factors is continuing. - FY2019RestatedAnnual report
「Domestic petroleum product demand is expected to continue declining as the spread of fuel-efficient vehicles and the shift to gas, electricity and other energy sources progress in response to accelerating efforts to achieve a low-carbon society.」
The structural decline in domestic petroleum product demand due to fuel-efficient vehicles, fuel switching and the transition to a low-carbon society continues to be explicitly identified. - FY2019-Q1RestatedAnnual report
「In the petroleum products business, domestic petroleum product demand declined due to structural changes, including greater fuel efficiency in vehicles and fuel switching for power generation, as well as the impact of nuclear reactor restarts.」
The decline in domestic petroleum product demand due to greater fuel efficiency, fuel switching and nuclear reactor restarts was again identified in the first quarter. - FY2018RestatedAnnual report
「Domestic petroleum product demand fell below the same period of the previous year. Kerosene demand increased because winter temperatures were lower than in the previous year, but gasoline demand declined with the further spread of fuel-efficient vehicles, and heavy fuel oil demand fell because of factors including nuclear reactor restarts and progress in fuel switching.」
The structural decline in domestic petroleum product demand due to fuel-efficient vehicles, nuclear reactor restarts and fuel switching is continuing. - FY2018-Q3RestatedAnnual report
「Domestic petroleum product demand declined due to structural changes, including greater fuel efficiency in vehicles and fuel switching for power generation, as well as the impact of nuclear reactor restarts.」
The decline in domestic petroleum product demand due to greater fuel efficiency, fuel switching and nuclear reactor restarts is continuing. - FY2018-Q2RestatedAnnual report
「Domestic petroleum product demand declined due to structural changes, including greater fuel efficiency in vehicles and fuel switching for power generation, as well as the impact of nuclear reactor restarts.」
The decline in domestic petroleum product demand due to greater fuel efficiency, fuel switching and nuclear reactor restarts continues to be identified. - FY2018-Q1RestatedAnnual report
「Domestic petroleum product demand declined due to greater fuel efficiency in vehicles, the shift to alternative fuels for power generation and the impact of nuclear reactor restarts.」
The structural decline in domestic petroleum product demand due to greater fuel efficiency, fuel switching and nuclear reactor restarts is continuing. - FY2017RestatedAnnual report
「Domestic petroleum product demand was below the previous period overall, as gasoline demand declined with the further spread of fuel-efficient vehicles and C-heavy fuel oil for power generation also declined.」
The structural decline in domestic demand was reflected in current-period results and continues to be identified as an issue to be addressed. - FY2017-Q3Seasonal factors drove divergent trends by productAnnual report
「Sales volumes of kerosene increased year on year because average temperatures in November and December were lower than in the previous year. However, sales of heavy fuel oil and crude oil for power generation declined year on year due to factors including nuclear reactor restarts and the long-term planned shutdown of certain oil-fired power plants.」
While the structural contraction in domestic demand due to greater fuel efficiency and other factors continued, sales volumes moved differently by product during the quarter because of temperatures, nuclear reactor restarts and other factors. - FY2017-Q2At previous-year levels following a temporary increaseAnnual report
「Against a structural trend toward lower domestic petroleum product demand due to more fuel-efficient vehicles, demand continued to decline through June but increased from July onward because of factors including higher temperatures, resulting in levels comparable with the same period of the previous year.」
The structural contraction in demand due to greater fuel efficiency continued, but sales volumes increased from July onward because of higher temperatures and were at the same level as in the same period of the previous year for the six months through the second quarter. - FY2017-Q1RestatedAnnual report
「Sales volumes continued to decline due to lower domestic demand for petroleum products such as gasoline, while sales of heavy fuel oil and crude oil for power generation fell significantly year on year because of the impact of nuclear reactor restarts.」
Domestic petroleum product demand continued to decline, and demand for heavy fuel oil and crude oil for power generation also fell due to nuclear reactor restarts. - FY2016First statedAnnual report
「Domestic petroleum product demand continues to decline due to structural factors, including the spread of fuel-efficient vehicles and the ongoing shift to alternative fuels. Meanwhile, demand for fuel oil, petrochemical products and lubricants is expected to continue increasing in emerging Asian countries as their economies grow.」
It was explained that domestic petroleum product demand was below the previous period, with declining domestic demand and intensifying competition identified as ongoing risks.