Worth reading
72In focus
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
8.8
% (year-on-year change in operating income)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales2,030,302¥ millionYear on year -1.9%Progress 98.1%
Operating profit174,809¥ millionYear on year +8.8%Progress 116.5%
Ordinary income204,522¥ millionYear on year +7.8%Progress 107.6%
Net income attributable to owners of the parent152,751¥ millionYear on year +13.6%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥391.15
Operating Margin8.6%
Financial position at period-end
Total assets3,321,405¥ million
of which net assets 1,854,028 ¥ millionEquity ratio 54.4%vs. prior year-end +1.6pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+340,740
Investment-241,852
Financials-129,177
Net change-30,289
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥58,492 million
Segment revenueDomestic Energy ¥1,639,494 million (YoY -5.4%), Overseas Energy ¥126,960 million (YoY +12.2%), Life & Business Solutions ¥263,847 million (YoY +13.2%)
Segment profitDomestic Energy ¥68,749 million (YoY -7.2%), Overseas Energy ¥67,650 million (YoY +22.9%), Life & Business Solutions ¥37,447 million (YoY +30.2%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥2,070,000 million (YoY +2.0%)
Operating profit¥150,000 million (YoY -14.2%)
Ordinary income¥190,000 million (YoY -7.1%)
Profit attributable to owners of the parent¥145,000 million (YoY -5.1%)
Annual Dividend Forecast¥95 → ¥130
Payout ratio30.7% (actual for the fiscal year ending March 2026), 34.4% (forecast for the fiscal year ending March 2027)
Factors Behind Changes in Business Performance
In the domestic energy business, lower gas and LNG selling prices under the fuel cost adjustment system resulted in lower sales and earnings. In the overseas energy business, sales and earnings increased at operations including the U.S. Freeport LNG liquefaction facility and U.S. upstream operations. The Life & Business Solutions business also recorded higher sales and earnings.
Disclosure regarding the going concern assumption
None ("There are no applicable matters.")
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 3 / Company name 株式会社阪和総合防災, 株式会社大阪市小学校体育館空調PFI, エナックス株式会社 / Excluded Number of companies 12 / Company name Osaka Gas Shore, LLC, Osaka Gas (Thailand) Co., Ltd., OGP Energy Solutions Co., Ltd., Osaka Gas Kleen Energy, LLC, Michigan Power MB, LLC, Osaka Gas Michigan Power, LLC, Michigan Power LP, LLC, Michigan Power GP, LLC, Michigan Power Limited Partnership, OGPA Lakewood, LLC, 株式会社リビングメンテサービス大阪, Sabine Oil & Gas Corporation
Material subsequent eventsAcquisition of treasury shares. At a meeting of the Board of Directors held on 8 May 2026, the Company resolved to acquire up to 28 million common shares for a total acquisition price of up to ¥80 billion from 11 May 2026 through 31 March 2027. The purpose is to return profits to shareholders and improve capital efficiency.
Impairment loss¥23,396 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥2,171 million, Gain on sale of shares in an affiliated company ¥12,328 million, Insurance proceeds received ¥7,266 million / Extraordinary loss Impairment Losses ¥23,396 million
Depreciation and amortization¥135,138 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End397,881,800 shares
Treasury Shares at Period-End14,025,616 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥2,030,302 million (YoY -1.9%) |
| Operating profit | ¥174,809 million (YoY +8.8%) |
| Ordinary income | ¥204,522 million (YoY +7.8%) |
| Profit attributable to owners of the parent | ¥152,751 million (YoY +13.6%) |
| Net income per share | ¥391.15 |
| Operating Margin | 8.6% |
| Equity ratio | End of the current fiscal period 54.4% / End of previous period 52.8% |
| Total assets | ¥3,321,405 million |
| Net assets | ¥1,854,028 million |
| Cash flows from operating activities | ¥340,740 million |
| Cash flows from investing activities | ¥-241,852 million |
| Cash flows from financing activities | ¥-129,177 million |
| Cash and cash equivalents at end of period | ¥58,492 million |
| Full-year earnings forecast | Net Sales ¥2,070,000 million (YoY +2.0%) / Operating profit ¥150,000 million (YoY -14.2%) / Ordinary income ¥190,000 million (YoY -7.1%) / Profit attributable to owners of the parent ¥145,000 million (YoY -5.1%) |
| Annual Dividend Forecast | ¥95 → ¥130 |
| Payout ratio | 30.7% (actual for the fiscal year ending March 2026), 34.4% (forecast for the fiscal year ending March 2027) |
| Segment revenue | Domestic Energy ¥1,639,494 million (YoY -5.4%), Overseas Energy ¥126,960 million (YoY +12.2%), Life & Business Solutions ¥263,847 million (YoY +13.2%) |
| Segment profit | Domestic Energy ¥68,749 million (YoY -7.2%), Overseas Energy ¥67,650 million (YoY +22.9%), Life & Business Solutions ¥37,447 million (YoY +30.2%) |
| Depreciation and amortization | ¥135,138 million |
| Impairment loss | ¥23,396 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥2,171 million, Gain on sale of shares in an affiliated company ¥12,328 million, Insurance proceeds received ¥7,266 million / Extraordinary loss Impairment Losses ¥23,396 million |
| Disclosure regarding the going concern assumption | None ("There are no applicable matters.") |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 3 / Company name 株式会社阪和総合防災, 株式会社大阪市小学校体育館空調PFI, エナックス株式会社 / Excluded Number of companies 12 / Company name Osaka Gas Shore, LLC, Osaka Gas (Thailand) Co., Ltd., OGP Energy Solutions Co., Ltd., Osaka Gas Kleen Energy, LLC, Michigan Power MB, LLC, Osaka Gas Michigan Power, LLC, Michigan Power LP, LLC, Michigan Power GP, LLC, Michigan Power Limited Partnership, OGPA Lakewood, LLC, 株式会社リビングメンテサービス大阪, Sabine Oil & Gas Corporation |
| Material subsequent events | Acquisition of treasury shares. At a meeting of the Board of Directors held on 8 May 2026, the Company resolved to acquire up to 28 million common shares for a total acquisition price of up to ¥80 billion from 11 May 2026 through 31 March 2027. The purpose is to return profits to shareholders and improve capital efficiency. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 397,881,800 shares |
| Treasury Shares at Period-End | 14,025,616 shares |
| Factors Behind Changes in Business Performance | In the domestic energy business, lower gas and LNG selling prices under the fuel cost adjustment system resulted in lower sales and earnings. In the overseas energy business, sales and earnings increased at operations including the U.S. Freeport LNG liquefaction facility and U.S. upstream operations. The Life & Business Solutions business also recorded higher sales and earnings. |
Items this document does not state (4)
Revision to Earnings ForecastShareholder Return PolicyRegional salesOrders received and order backlog
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.Net sales declined mainly because gas and LNG selling prices under the fuel cost adjustment system remained relatively low. Profit increased as higher earnings in the overseas energy business, including the U.S. Freeport LNG liquefaction facility and U.S. upstream operations, more than offset lower earnings in the domestic energy business. Ordinary income is expected to decline in the next fiscal year because of lower earnings from electricity market trading and higher depreciation expenses following the start of operations at Units 1 and 2 of the Himeji Natural Gas Power Plant.
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