Persistent Decline in Oil Demand and Industry Restructuring

「The number of direct-sale customers was approximately 567 thousand, a decrease of approximately 1 thousand from the end of the previous fiscal year. LP gas sales volumes were slightly below the same period of the previous fiscal year.」

「[CS Business] The number of CS locations declined by 50 from the end of the previous fiscal year to 1,496. Sales volumes of petroleum products were below the previous fiscal year.」

「[LP Gas Business] The number of direct-sale customers was approximately 568 thousand, a decrease of approximately 7 thousand from the end of the previous fiscal year. LP gas sales volumes were slightly below the previous fiscal year.」

「[LP Gas Business] The number of direct-sale customer households declined by approximately 2 thousand from the end of the previous fiscal year to approximately 573 thousand. LP gas sales volumes were slightly below the same period of the previous year.」

「[LP Gas Business] The number of direct-sale customer households declined by approximately 3 thousand from the end of the previous fiscal year to approximately 571 thousand. LP gas sales volumes were slightly below the same period of the previous year due to the decline in direct-sale customer households and the growing preference for economy.」

「Main customer base | Number of customers | Sales volume | Forecast trend: LP gas sales (wholesale and direct sales): 1.5 million households | 453 thousand tonnes | down 0.4% per year; petroleum sales (for CS): 1,610 CS locations | 4.5 million KL | down 1.8% per year; electricity sales (retail): 330 thousand households | 2,262 GWh | down 1.0% per year」

「In the energy market, the decline in gasoline demand resulting from the acceleration of the shift to electric vehicles and the need to address environmental considerations aimed at achieving a decarbonized society as part of measures to combat global warming are unavoidable. At the same time, the Group may face various constraints on its business development, including the introduction of carbon taxes and greenhouse gas emissions regulations. As global standards are standardized and codified, the Group's businesses are expected to face greater competition than ever before.」

「The Group operates businesses centered on the sale of petroleum products in Japan, the sale of LP gas and industrial gases, electricity sales, heat supply and vehicle sales. As it is affected by factors including a decline in customers resulting from Japan's declining population, energy conservation and the increase in electric vehicles, with these factors expected to continue unchanged, the decline in sales volumes of its products is expected to continue, and without any measures, revenue is expected to decline by a fixed amount every year.」

「Revenue was ¥515.679 billion, down 23.2% year on year. This was mainly due to lower selling prices for petroleum products following the decline in crude oil prices, as well as lower sales volumes.」

「Revenue was ¥319.536 billion, down 27.2% year on year. This was mainly due to lower selling prices for petroleum products following the decline in crude oil prices, as well as lower sales volumes.」

「Revenue was ¥148.181 billion, down 32.7% year on year. This was mainly due to lower selling prices for domestic petroleum products following the decline in crude oil prices, as well as lower sales volumes.」

「Revenue was ¥671.16 billion, down 10.6% year on year. This was mainly due to lower sales volumes of domestic petroleum products and lower selling prices resulting from the decline in crude oil prices.」

「Revenue was ¥439.099 billion, down 7.6% year on year. This was mainly due to lower sales volumes and lower selling prices for domestic petroleum products in the Lifestyle and Industrial Energy business.」

「In the CS business serving local residents, the company needs to respond to changes in the business environment resulting from the structural decline in oil demand.」

「Amid industry reorganization, including the structural decline in oil demand and the bifurcation of major oil distributors, the company worked to maintain and expand its sales base in each business and region, resulting in earnings above the same period of the previous year.」

「During the first quarter of the current consolidated cumulative period, amid industry reorganization, including the bifurcation of major oil distributors, accompanying the structural decline in oil demand, the company integrated its Lifestyle Energy and Distribution Division and Industrial Energy and Distribution Division into the Lifestyle and Industrial Energy Division and completely revamped its organizational structure, with the aim of becoming more deeply involved in the lives of local communities and regional industries.」

「In the petroleum distribution industry, demand has continued to decline, while the outlook for crude oil prices also remains uncertain.」

「In the petroleum distribution industry, a persistent decline in demand has continued due to the declining birth rate and an aging population, as well as improvements in vehicle fuel efficiency」

「In the petroleum products distribution industry, a persistent decline in demand has continued, while the outlook for crude oil prices also remains uncertain.」

「The domestic energy industry continues to face a challenging business environment, including changing consumer awareness, progress in energy conservation and efficiency, and a long-term decline in demand associated with the declining birth rate and an aging population.」

「In the petroleum products distribution industry, demand has continued to decline, while the outlook for crude oil prices also remains uncertain.」

「In the petroleum products distribution industry, a persistent decline in demand has continued」

「In the petroleum products distribution industry, a persistent decline in demand has continued, while the outlook for crude oil prices also remains uncertain.」