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

JXTG HOLDINGS, INC.

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Japan's JXTG sees profit hit from lower oil prices amid coronavirus

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02/13/2020 | 02:10am EST

Japan's biggest refiner JXTG Holdings said on Thursday its profitability is likely to be hit by the fall in oil prices caused by a coronavirus outbreak in China that has cut demand for commodities.

Each $5 decline in crude oil prices will potentially reduce the company's annual operating profit by 32.5 billion yen ($296 million), JXTG Senior Vice President Yoshiaki Ouchi said, adding that it was too early to be precise on the impact.

Brent crude, the global oil benchmark, has fallen by more than $14, or around a fifth, from its 2020 highs in early January, as the coronavirus outbreak has hit sentiment and demand for oil in China, the world's biggest importer of the commodity. [O/R]

The Chinese province where the outbreak started in December reported its biggest rise in the death toll yet on Thursday using a new diagnostic method, while Beijing sacked two local leaders over their handling of the crisis.

JXTG said its operating profit had dived 52% to 221.44 billion yen in the nine months ended December 2019, hit by a decline in resource prices and margins in its petrochemicals business.

However, the company maintained its forecast for financial year ending March 31.

"The outbreak may affect our supply chains in China or traffic use but so far nothing can be forecasted since the Lunar New Year holiday just ended," Ouchi said.

"We are running branches in China with as few workers as possible," he said.

(Reporting by Yuki Nitta; Writing by Aaron Sheldrick; Editing by Tom Hogue and Sherry Jacob-Phillips)

Stocks mentioned in the article
ChangeLast1st jan.
CRB COMMODITY INDEX 0.10% 195.01 End-of-day quote.0.00%
JXTG HOLDINGS, INC. -1.66% 467 End-of-day quote.-7.29%
LONDON BRENT OIL 0.78% 58.11 Delayed Quote.-13.27%
NITTA CORPORATION -2.00% 2984 End-of-day quote.-5.57%
WTI 0.61% 52.47 Delayed Quote.-16.22%
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Financials (JPY)
Sales 2020 10 440 B
EBIT 2020 298 B
Net income 2020 165 B
Debt 2020 -
Yield 2020 4,74%
P/E ratio 2020 9,22x
P/E ratio 2021 6,43x
Capi. / Sales2020 0,14x
Capi. / Sales2021 0,15x
Capitalization 1 503 B
Technical analysis trends JXTG HOLDINGS, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 8
Average target price 635,00  JPY
Last Close Price 467,00  JPY
Spread / Highest target 82,0%
Spread / Average Target 36,0%
Spread / Lowest Target 4,93%
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
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BP PLC-2.99%120 536
CHINA PETROLEUM & CHEMICAL CORPORATION-10.23%79 452
SUNCOR ENERGY INC.-7.31%45 612