Formation of a Third Force through a Capital and Business Alliance with Kygnus Oil
First written in FY2017. 7 of 9 entries say "Advanced", first in FY2018-Q1. Latest entry: FY2024.
0 other companies' latest entry also says "Advanced".
- FY2024AdvancedAnnual report
「Through the supply of fuel oil to キグナス石油㈱, which began in fiscal 2019, the Group established a short position in which production volume is lower than sales volume and has maintained high refinery utilization.」
The Group continued and expanded fuel oil supplies to キグナス石油. Sales to the company were ¥363.4 billion in the current fiscal year, accounting for 13.3% of consolidated net sales. The supply business was described as the foundation for high refinery utilization. - FY2021AdvancedAnnual report
「During the current fiscal year, we further expanded the supply of fuel oil to キグナス石油㈱, which began in fiscal 2019, and expect the supply to continue to improve earnings.」
The Group further expanded fuel oil supplies to キグナス石油, which began in fiscal 2019, and reached the stage of expecting an earnings improvement. Sales to キグナス石油 were ¥234.4 billion, exceeding 10% of consolidated net sales. - FY2020AdvancedAnnual report
「We began supplying fuel oil to キグナス石油㈱ in July 2019 under the capital and business alliance agreement signed in 2017. In fiscal 2020, we expect earnings to improve as a result of further growth in sales volume.」
The Group began supplying fuel oil to キグナス石油 in July 2019 and reached the stage of expecting an increase in sales volume in fiscal 2020. - FY2019AdvancedAnnual report
「With respect to expanding supply destinations, we will develop the structure needed to begin supplying oil products from around 2020 to キグナス石油㈱, with which we have entered into a capital and business alliance agreement.」
The capital and business alliance with キグナス石油 has progressed from applying the equity method and completing the purchase price allocation to developing the structure needed to supply oil products from around 2020. - FY2018AdvancedAnnual report
「キグナス石油㈱ has been included within the scope of application of the equity method because it became an affiliate through the share acquisition during the current consolidated fiscal year.」
The acquisition of shares in キグナス石油 was completed and reflected in the accounting for the consolidated fiscal year as an equity-method affiliate. - FY2018-Q3AdvancedAnnual report
「From the first quarter of the current consolidated fiscal year, we have included キグナス石油㈱ within the scope of application of the equity method in connection with the share acquisition. Accordingly, provisional accounting treatment was applied through the cumulative second quarter, but the purchase price allocation was completed in the third quarter. The review of the purchase price allocation resulted in no material adjustments.」
The Group continued to apply the equity method to キグナス石油, and the purchase price allocation related to the share acquisition was completed in the third quarter. - FY2018-Q2RestatedAnnual report
「From the first quarter of the current consolidated fiscal year, we have included キグナス石油㈱ within the scope of application of the equity method in connection with the share acquisition.」
The Group continues to apply the equity method in connection with its capital and business alliance with キグナス石油. - FY2018-Q1AdvancedAnnual report
「In connection with the share acquisition, we have included キグナス石油㈱ within the scope of application of the equity method.」
The share acquisition under the capital and business alliance with キグナス石油 agreed in the previous fiscal year progressed, and the investment was reflected in the accounts as an equity-method affiliate from the first quarter. - FY2017First statedAnnual report
「In February, we entered into a capital and business alliance agreement with キグナス石油株式会社. Under the agreement, we will acquire 20% of its shares and discuss and consider specific details with a view to commencing the supply of oil products in approximately three years.」
The Group entered into a capital and business alliance agreement with キグナス石油 and plans to acquire a 20% stake and supply oil products in approximately three years.