Uncertainty and Weakness in Crude Oil Prices and Petroleum Product Market Conditions
First written in FY2017-Q1. 9 of 32 entries say "Restated". Latest entry: 2026-08-06.
Itochu Enex moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2020: 139 of 156 companies on the "Worse" side.
47 other companies' latest entry also says "Worsened".
- 2026-08-06WorsenedEarnings
「The economic outlook remains uncertain due to the continued rise in prices, increasing geopolitical risks, particularly the situation in the Middle East, and significant fluctuations in foreign exchange rates and energy prices, including crude oil prices.」
The disclosure focuses on uncertainty resulting from geopolitical risks, foreign exchange movements, and fluctuations in crude oil and other energy prices. - FY2026WorsenedAnnual report
「During the consolidated fiscal year under review (1 April 2025 to 31 March 2026), rising interest rates associated with the Bank of Japan's gradual rate hikes and sharp volatility in foreign exchange markets became pronounced in the Japanese economy. In addition, multiple factors became intricately intertwined, including substantial fluctuations in crude oil prices caused by geopolitical risks, particularly the situation in the Middle East, and sharp swings in the domestic stock market, leaving the overall economic outlook uncertain.」
In addition to the previously cited geopolitical risks, foreign exchange volatility and crude oil price fluctuations, the disclosure explicitly identifies gradual rate hikes and rising interest rates, as well as sharp swings in the domestic stock market, and continues to describe the overall economic outlook as uncertain. - 2026-04-30WorsenedEarnings
「In addition, the economic outlook remains uncertain due to the complex interaction of multiple factors, including significant fluctuations in crude oil prices resulting from geopolitical risks, particularly the situation in the Middle East, and sharp volatility in the domestic stock market.」
The full-year business overview again describes uncertainty surrounding the economic outlook, including fluctuations in crude oil prices and geopolitical risks. - FY2026-H1WorsenedAnnual report
「During the interim consolidated accounting period (1 April 2025 to 30 September 2025), the Japanese economy faced growing concerns about a global slowdown amid uncertainty over the future direction of trade policies and tariffs in major countries, while crude oil prices trended lower. In addition, continuing global geopolitical risks and significant volatility in foreign exchange markets persisted, leaving the overall economic outlook uncertain.」
In addition to the previously cited geopolitical risks and foreign exchange volatility, the disclosure identifies the trade policies and tariff trends of major countries and concerns about a global economic slowdown, and also notes falling crude oil prices. - FY2024MaterialisedAnnual report
「Profit from operating activities was ¥1,483 million, down 27.4% year on year, while profit for the year attributable to owners of the Company was ¥1,785 million, down 34.1% year on year. This was mainly due to the negative impact on margins from changes in inventory unit costs associated with lower LPG import prices.」
Lower LPG import prices reduced margins through changes in inventory unit costs, resulting in a 27.4% decline in profit from operating activities and a 34.1% decline in profit for the year in the Home Life business. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year under review (1 April 2023 to 31 December 2023), the Japanese economy saw the surge in domestic energy prices for petroleum products, electricity and other items begin to subside, but the outlook is expected to remain uncertain due to heightened geopolitical risks, foreign exchange movements and other factors.」
The disclosure reiterates the view that, while the surge in energy prices is beginning to subside, uncertainty about the outlook due to geopolitical risks and foreign exchange movements will continue. - FY2024-Q2Price pressures beginning to ease while uncertainty about the outlook persistsAnnual report
「During the cumulative second quarter of the fiscal year under review (1 April 2023 to 30 September 2023), the Japanese economy saw the surge in domestic energy prices for petroleum products, electricity and other items begin to subside, but the outlook is expected to remain increasingly uncertain due to heightened geopolitical risks, foreign exchange movements and other factors.」
While the surge in energy prices is beginning to subside, the disclosure indicates that uncertainty about the outlook is expected to persist further due to heightened geopolitical risks and foreign exchange movements. - FY2024-Q1SoftenedAnnual report
「Although the impact of COVID-19 has eased and the surge in domestic energy prices for petroleum products, electricity and other items caused by resource prices remaining at high levels is beginning to subside, the outlook remains uncertain due to geopolitical risks, foreign exchange movements and other factors.」
The description of previously soaring resource and energy prices has changed to state that the price surge is beginning to subside. Meanwhile, uncertainty about the outlook due to geopolitical risks and foreign exchange movements continues. - FY2023RestatedAnnual report
「If the rise in resource prices driven by the global trend toward decarbonization continues, along with further increases caused by geopolitical factors, including Russia's invasion of Ukraine, the impact on the Group's financial performance will increase.」
The disclosure continues to state that higher resource prices due to decarbonization and further increases caused by Russia's invasion of Ukraine and other factors will affect financial performance. - FY2023-Q3MaterialisedAnnual report
「Profit from operating activities was ¥561 million, down 43.0% year on year, while profit for the quarter attributable to owners of the Company was ¥999 million, down 15.6% year on year. This was mainly due to narrower selling margins associated with lower LPG import prices.」
Lower LPG import prices narrowed selling margins, resulting in a 43.0% decline in profit from operating activities and a 15.6% decline in profit for the quarter in the Home Life business. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter of the fiscal year under review (1 April 2022 to 30 September 2022), the Japanese economy saw energy prices for petroleum products, electricity and other items rise sharply amid the lingering impact of COVID-19, due to soaring resource prices caused by geopolitical risks related to the situation in Ukraine and the weaker yen, and the outlook remains extremely uncertain.」
The disclosure continues to cite soaring resource prices due to the situation in Ukraine and other factors, higher energy prices caused by the weaker yen, and extreme uncertainty about the outlook. - FY2023-Q1WorsenedAnnual report
「As in the same period of the previous year, with no sign of an end to the COVID-19 pandemic, domestic energy prices for petroleum products, electricity and other items have been trending higher due to soaring resource prices caused by geopolitical risks related to the situation in Ukraine and the weaker yen, and the outlook remains extremely uncertain.」
In addition to the previous references to soaring resource prices and geopolitical risks, the disclosure explicitly states that the weaker yen is driving domestic energy prices higher and that the outlook remains extremely uncertain. - FY2022WorsenedAnnual report
「If the rise in resource prices driven by the global trend toward decarbonization continues, along with further increases caused by geopolitical factors, including Russia's invasion of Ukraine, the impact on the Group's financial performance will increase.」
Regarding resource price volatility risk, the disclosure explicitly states that, in addition to increases associated with decarbonization, further rises driven by geopolitical factors such as Russia's invasion of Ukraine could increase the impact. - FY2022-Q2Positive profit contribution from inventory effects due to higher LPG import pricesAnnual report
「This was mainly due to the recovery of the industrial gas-related and overseas businesses following the resumption of economic activity, as well as inventory effects and other factors associated with higher LPG import prices.」
In addition to higher selling prices due to rising crude oil prices, inventory effects and other factors associated with higher LPG import prices contributed to higher profit in the Home Life business. - FY2022-Q1Higher selling prices due to rising crude oil pricesAnnual report
「This was mainly due to higher selling prices for domestic petroleum products following the rise in crude oil prices.」
Compared with the previous disclosure regarding falling crude oil prices and uncertainty, the current quarter states that rising crude oil prices increased revenue through higher selling prices for domestic petroleum products. - FY2021MaterialisedAnnual report
「Revenue was ¥739.067 billion, down 17.6% from the previous fiscal year. The main factors were lower selling prices linked to crude oil prices and lower sales volumes of domestic petroleum products.」
The decline in selling prices linked to crude oil prices and the decline in domestic petroleum product sales volumes were reflected in full-year results as a 17.6% decline in revenue. - FY2021-Q3MaterialisedAnnual report
「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.」
The decline in selling prices for petroleum products associated with lower crude oil prices was reflected in actual results as a factor reducing revenue, together with lower sales volumes. - FY2021-Q2MaterialisedAnnual report
「This was mainly due to the inventory impact associated with the decline in LP gas import prices and lower sales volumes of LP gas and industrial gases, despite securing a certain level of earnings from increased household demand.」
The company states that the decline in LP gas import prices reduced profit in the Home Life business through its impact on inventory. - FY2021-Q1MaterialisedAnnual report
「This was mainly due to a ¥22.534 billion decline in trade receivables resulting from seasonal factors and lower selling prices associated with the decline in crude oil prices.」
Lower selling prices associated with the decline in crude oil prices were reflected in actual results as a factor reducing trade receivables. - FY2020-Q3RestatedAnnual report
「The global economy remains uncertain, due to factors including uncertainty in overseas economies and geopolitical risks in the Middle East.」
The company reaffirms uncertainty over the outlook for the global economy resulting from uncertainty in overseas economies and geopolitical risks in the Middle East. - FY2020-Q2MaterialisedAnnual report
「In terms of profit and loss, sales remained firm, but results were below the same period of the previous year due to the inventory impact associated with the decline in LP gas import prices.」
The company states that the decline in LP gas import prices reduced profit year on year through its impact on inventory. - FY2020-Q1RestatedAnnual report
「The global economy faces risks of a slowdown, including the impact of US-China trade issues on the global economy and uncertainty in overseas economies, and the outlook remains uncertain.」
The company continues to identify the risk of a global economic slowdown resulting from US-China trade issues and uncertainty in overseas economies. - FY2019-Q3RestatedAnnual report
「At the same time, the global economy faces risks of a slowdown, including the impact of US trade policy trends on the global economy and uncertainty in overseas economies, and the outlook remains uncertain.」
The company continues to identify the risk of a global economic slowdown resulting from US trade policy and uncertainty in overseas economies. - FY2019-Q2WorsenedAnnual report
「At the same time, the global economy faces risks of a slowdown, including escalating trade friction stemming from US protectionist policies and currency crises in emerging markets, and the outlook remains uncertain.」
In addition to the existing uncertainty surrounding the global economy, the company specifies escalating trade friction stemming from US protectionist policies, currency crises in emerging markets and the risk of a global economic slowdown. - FY2019-Q1WorsenedAnnual report
「At the same time, uncertainty remains over the outlook, including the risk of a global economic slowdown resulting from geopolitical risks, economic trends in Asian emerging markets including China, and rising interest rates in the United States.」
In addition to the existing uncertainty surrounding the global economy and geopolitical conditions, the company specifies the risk of a global economic slowdown resulting from rising US interest rates and other factors. - FY2018-Q3WorsenedAnnual report
「The outlook for the global economy remains uncertain, due to factors including rising geopolitical risks in the Far East and economic trends in emerging-market economies, including China.」
In addition to the previously identified uncertainty surrounding the global economy and crude oil prices, the company specifies rising geopolitical risks in the Far East. - FY2018-Q2RestatedAnnual report
「The outlook for crude oil prices also remains uncertain.」
The company continues to identify uncertainty over the outlook for crude oil prices as a business condition. - FY2018-Q1RestatedAnnual report
「In the petroleum products distribution industry, a persistent decline in demand has continued, while the outlook for crude oil prices also remains uncertain.」
The company reaffirms uncertainty over the outlook for crude oil prices, together with the decline in demand for petroleum products. - FY2017Electricity price increases reflected in actual resultsAnnual report
「In the electricity market, average spot prices tended to remain below the previous fiscal year through the end of the year, but electricity prices rose due to higher costs of crude oil, liquefied natural gas (LNG), coal and other inputs.」
While continuing to indicate uncertainty over the outlook for crude oil prices, the company states that electricity prices actually rose due to higher input costs. - FY2017-Q3Change in the market outlookAnnual report
「The outlook for crude oil prices also remains uncertain. In the electricity market, average spot prices tended to remain below the same period of the previous year, but electricity prices are expected to rise going forward due to higher costs of crude oil, liquefied natural gas (LNG), coal and other inputs.」
While uncertainty over crude oil prices continues, the company also notes the year-on-year decline in average spot electricity prices and the expected future rise in electricity prices due to higher input costs. - FY2017-Q2RestatedAnnual report
「The outlook for crude oil prices also remains uncertain.」
The company states that uncertainty over the outlook for crude oil prices has continued. It also states that the decline in crude oil prices caused average spot electricity prices to fall below the same period of the previous year. - FY2017-Q1First statedAnnual report
「The outlook for the global economy remains uncertain, due to factors including the slowdown in emerging-market economies, led by China, and the issue of the United Kingdom's withdrawal from the European Union (EU).」
The company identifies uncertainty in the global economy, as well as weak domestic petroleum product market conditions and declining margins resulting from deteriorating market conditions.