INPEX announced consolidated net income of ¥550 billion for the year ending December 2026. Net income is expected to increase 40% year on year, while revenue is forecast to fall 7% to ¥1.875 trillion.
INPEX announced that consolidated net income for the year ending December 2026 is expected to reach ¥550 billion, an increase of 40% from the previous year. This represents a further upward revision to its previous forecast and is expected to be the highest full-year profit level on record. Revenue is forecast at ¥1.875 trillion, down 7% year on year, while operating profit is expected to rise 6% to ¥1.203 trillion. Both revenue and operating profit reflect adjustments from the previous fiscal year.
Regarding the situation in the Middle East, the company expects Iran’s blockade of the Strait of Hormuz to continue through 2026, with the suspension of sales from the Abu Dhabi oil field also expected to continue for the time being. Accordingly, the company assumed an average crude oil price of $90 per barrel for Brent crude during the fiscal year and revised its exchange-rate assumption to ¥158.20 to the dollar. A lower local corporate tax burden was also cited as a factor affecting results.
In its consolidated results for January–September 2026 announced the same day, net income rose 39% year on year to ¥407.6 billion, supporting the full-year forecast. At an earnings briefing, director Yamada Daisuke (山田 大介) explained that the company would consider additional share buybacks as of February 2027, taking into account the situation in the Middle East and U.S. energy policy.