Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  JXTG Holdings, Inc.    5020   JP3386450005

JXTG HOLDINGS, INC.

(5020)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Japan's JXTG plans to spend $14 billion on transformation plan

share with twitter share with LinkedIn share with facebook
05/20/2020 | 05:38am EDT

By Yuka Obayashi

JXTG Holdings Inc, Japan's biggest oil refiner, said on Wednesday it will spend 1.5 trillion yen ($14 billion) for the next three years to drive its transformation into a supplier of low-carbon energy and materials.

The planned spending, mapped out under a new medium-term business plan through end-March 2023, is a 44% jump from the 1.04 trillion yen spent in the past 3 years.

The fund will be used to strengthen its business in renewable energy, electronic materials and petrochemicals,

JXTG Holdings President Tsutomu Sugimori said.

The new plan is based on an assumption that a decline in demand for petroleum products and others due to the pandemic will continue in the April-September half of the current financial year, he said.

"We don't know how long an impact from the pandemic will continue, but we don't think the current trend toward a low-carbon society will change," Sugimori told a news conference.

"We will stick to our long-term vision," he said.

Last year, the oil and metals group unveiled a long-term vision through 2040, reinforcing growth areas such as renewable energy, chemical products, power generation and electronic materials, based on an estimate that domestic oil demand will halve by 2040.

On Wednesday, the company added a new goal to become "carbon neutral" in 2040, by reducing emissions from refineries and boosting carbon-free assets such as renewable energy, hydrogen generation, and carbon capture and storage (CCS).

"The growing trend of boosting renewable energy won't change despite a slump in oil prices," Sugimori said.

The company also announced that Katsuyuki Ota, president of JXTG Nippon Oil & Energy, an energy unit of the group, will become JXTG Holdings' president in June. Sugimori will become chairman.

(Reporting by Yuka Obayashi; Editing by Tom Hogue and Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. 2.76% 5.96 Delayed Quote.8.36%
CHANGE INC. 3.17% 8140 End-of-day quote.179.92%
JUST GROUP PLC 2.25% 49.06 Delayed Quote.-37.90%
JXTG HOLDINGS, INC. -1.96% 374.8 End-of-day quote.-24.72%
LETS HOLDINGS GROUP CO., LTD. -1.85% 11.64 End-of-day quote.92.72%
LONDON BRENT OIL -0.01% 42.87 Delayed Quote.-35.88%
LOOK HOLDINGS INCORPORATED -2.42% 685 End-of-day quote.-45.29%
THE NEW HOME COMPANY INC. 2.16% 3.31 Delayed Quote.-28.97%
VISION INC. -4.76% 620 End-of-day quote.-65.78%
WILL GROUP, INC. -2.52% 618 End-of-day quote.-50.64%
WTI -0.94% 40.185 Delayed Quote.-35.40%
share with twitter share with LinkedIn share with facebook
Latest news on JXTG HOLDINGS, INC.
06/18Japan's weak oil demand balanced by reduced OPEC+ supply - industry body
RE
06/09Refineries around Asia join Chinese peers in ramping up oil output
RE
06/08TSUTOMU SUGIMORI : Oil prices expected to stay above $40 - PAJ boss Sugimori
RE
06/03China drives global oil demand recovery out of coronavirus collapse
RE
05/31Main events scheduled for Monday, June 1
AQ
05/26Japan's refiners facing stagnant market may cut capacity
RE
05/22JXTG : Appointments of executive management of ENEOS Holdings, Inc. and ENEOS Co..
PU
05/20Japan's JXTG plans to spend $14 billion on transformation plan
RE
05/20JXTG HOLDINGS, INC. : Annual results
CO
05/15JXTG HOLDINGS, INC. : annual earnings release
More news
Financials
Sales 2021 7 431 B 69 501 M 69 501 M
Net income 2021 88 879 M 831 M 831 M
Net Debt 2021 - - -
P/E ratio 2021 13,6x
Yield 2021 6,05%
Capitalization 1 206 B 11 294 M 11 279 M
EV / Sales 2020
Capi. / Sales 2021 0,16x
Nbr of Employees 40 983
Free-Float 96,5%
Chart JXTG HOLDINGS, INC.
Duration : Period :
JXTG Holdings, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends JXTG HOLDINGS, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Average target price 501,11 JPY
Last Close Price 374,80 JPY
Spread / Highest target 46,7%
Spread / Average Target 33,7%
Spread / Lowest Target 14,7%
EPS Revisions
Managers
NameTitle
Tsutomu Sugimori President & Representative Director
Junichi Kawada Director, Executive Vice President & Head-Audit
Hiroko Ota Independent Outside Director
Mutsutake Otsuka Independent Outside Director
Shunsaku Miyake Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
JXTG HOLDINGS, INC.-24.72%11 294
EXXON MOBIL CORPORATION-40.73%180 333
RELIANCE INDUSTRIES LTD24.04%158 635
BP PLC-38.34%74 012
CHINA PETROLEUM & CHEMICAL CORPORATION-27.29%67 600
PTT-13.07%34 889