JXTG : Consolidated Financial Results for the Fiscal Year 2018 （208KB）

This document contains a financial summary and financial statements translated from the original

Japanese version, for convenience only.

Consolidated Financial Results for the Fiscal Year 2018 [IFRS]

		May 13, 2019
Company name:	JXTG Holdings, Inc.	Stock Exchange Listings: Tokyo and Nagoya
Code number:	5020	URL: https://www.hd.jxtg-group.co.jp/
Representative:	Tsutomu Sugimori	Representative Director, President
Contact person:	Ryo Inoue	Group Manager, Investor Relations Group, Finance & Investor Relations Department

Telephone: [phone]
Scheduled date of ordinary general meeting of shareholders:	June 26, 2019
Scheduled date of filing of Securities Report:	June 26, 2019
Scheduled date of commencement of dividend payments:	June 27, 2019
Supplemental materials for the financial results:	Yes

Financial results presentation:	Yes (for institutional investors and analysts)
	(Amounts of less than 1 million yen are rounded off.)

1. Consolidated Results for Fiscal Year 2018 (From April 1, 2018 to March 31, 2019)

(1) Operating Results				(Percentage figures represent changes from the previous fiscal year.)
								Profit for the year	Total comprehensive
	Revenue		Operating profit	Profit before tax	attributable to owners
		income for the year
								of the parent
	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
FY2018	11,129,630		8.0	537,083	10.2	508,617	8.8	322,319	(10.9)	332,295	(3.4)
FY2017	10,301,072		46.6	487,546	79.8	467,435	87.6	361,922	141.3	344,022	120.5
						Profit ratio to equity	Profit before tax ratio	Operating profit ratio
	Basic profit per share	Diluted profit per share	attributable to owners
	to total assets	to revenue
						of the parent
			Yen		Yen		%		%		%
FY2018			95.36		95.32		12.3		6.0		4.8
FY2017			105.92		105.90		15.2		6.1		4.7

(Reference) Equity in earnings of affiliates: FY2018: 46,060 million yen; FY2017: 62,510 million yen

(2) Financial Position

			Total equity attributable	Equity ratio	Equity attributable to
	Total assets	Total equity	attributable to owners	owners of the parent
	to owners of the parent
			of the parent	per share
	Millions of yen	Millions of yen	Millions of yen	%	Yen
FY2018	8,477,811	3,119,816	2,717,840	32.1	816.39
FY2017	8,457,555	2,919,975	2,539,541	30.0	743.36

(3) Cash Flows

	Net cash flows from	Net cash flows from	Net cash flows from	Cash and cash equivalents
	operating activities	investing activities	financing activities	at the end of the year
	Millions of yen	Millions of yen	Millions of yen	Millions of yen
FY2018	344,184	(206,900)	(196,662)	378,945
FY2017	707,106	(95,104)	(508,223)	437,117

2. Dividends

		Annual cash dividends per share				Dividend ratio
						Total	Dividend	of equity
						attributable to
	End of 1st	End of 2nd	End of 3rd			dividend	payout ratio
	Year-End	Total	owners of the
	quarter	quarter	quarter	amount	(Consolidated)
			parent
								(Consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
FY2017	-	9.00	-	10.00	19.00	65,002	17.9	2.7
FY2018	-	10.00	-	11.00	21.00	70,475	22.0	2.7
FY2019 (Forecast)	-	11.00	-	11.00	22.00		22.9

Note: Average number of shares issued during the period that forms the basis for the calculation of dividend payout ratio (consolidated) for FY2019 (forecast) specified above is calculated with the number of issued shares (excluding treasury stock) as of March 31, 2019.

3. Forecasts of Consolidated Results for Fiscal Year 2019 (From April 1, 2019 to March 31, 2020)

(Percentage figures are changes from the amount for the corresponding period in the previous fiscal year.)

								Profit for the year
	Revenue		Operating profit	Profit before tax	attributable to owners	Basic profit per share
								of the parent
	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
First Half of	5,500,000		1.3	290,000	(34.3)	275,000	(35.2)	175,000	(38.6)	52.57
FY2019
FY2019	11,500,000		3.3	550,000	2.4	515,000	1.3	320,000	(0.7)	96.12

Note: Average number of shares issued during the period that forms the basis for the calculation of basic profit per share specified above is calculated with the number of issued shares (excluding treasury stock) as of March 31, 2019.

As for the forecasts of operating profit excluding inventory valuation factors*, please see the following. Operating profit excluding inventory valuation factors:

Forecasts for FY2019:500,000 million yen (percentage change from the previous fiscal year: (3.0)% )

(Reference) Actual results for FY2018: 515,700million yen

(*) The impact of inventory valuation on the cost of sales by using the weighted-average method and by writing down the book value.

Explanatory Notes

(1) Changes in the number of material subsidiaries during the term under review: None

Note: This item indicates whether there were changes in specified subsidiaries involving a change in the scope of consolidation.

(2) Changes in accounting policies and in accounting estimates
(i)	Changes in accounting policies required by the IFRS:	Yes
(ii)	Changes in accounting policies other than (i) above:	None
(iii)	Changes in accounting estimates: None

Note: For details, please refer to "Consolidated Financial Statements and Major Explanatory Notes Thereto (5) Explanatory Notes to the Consolidated Financial Statements (Changes in Accounting Policies)" on page 9 of the Attached Material.

(3)Number of shares issued (Common stock)

(i)Number of issued shares at the end of the period (including treasury stock) FY2018 ended March 31, 2019: 3,385,993,649 shares

FY2017 ended March 31, 2018: 3,426,916,549 shares

(ii)Number of shares of treasury stock at the end of the period FY2018 ended March 31, 2019: 56,898,910 shares FY2017 ended March 31, 2018: 10,614,273 shares

(iii)Average number of shares issued during the period FY2018 ended March 31, 2019: 3,380,083,243 shares FY2017 ended March 31, 2018: 3,416,811,188 shares

(Reference) Non-Consolidated Financial Results

Non-Consolidated Financial Results for Fiscal Year 2018 (From April 1, 2018 to March 31, 2019)

(1) Operating Results					(Percentage figures represent changes from the previous fiscal year.)
	Revenue			Operating profit			Ordinary profit				Profit
	Millions of yen			%	Millions of yen		%	Millions of yen		%		Millions of yen	%
FY2018	177,401		937.4	166,542		-		169,571		-		187,072	328.2
FY2017	17,101			7.6	4,281		(1.7)		9,403		33.7		43,686	126.2
	Profit per share		Diluted profit per share
		Yen		Yen
FY2018	55.29			55.27
FY2017	12.77			12.77
(2) Financial Position
	Total assets			Net assets		Equity ratio		Net assets per share
	Millions of yen		Millions of yen				%				Yen
FY2018	3,817,842			1,830,799				48.0			549.34
FY2017	3,862,464			1,783,500				46.2			521.51

(Reference) Equity: FY2018: 1,830,799 million yen; FY2017: 1,783,500 million yen

This report is not subject to audit procedures conducted by certified public accountants or an audit corporation.

Explanation regarding appropriate use of forward-looking statements on results, and other specific comments (Note on Statements Regarding Prospective Matters)

This material contains forward-looking statements; however, actual results may differ materially from those reflected in such forward-looking statements, due to various factors, including the following:

(1)changes in macroeconomic conditions and changes in the competitive environment in the energy, resources and materials industries; (2) revisions to laws and strengthening of regulations; and (3) litigation and other similar risks.

Changes from the previous fiscal year (or corresponding period in the previous fiscal year) are not presented ("-") if either or both of the fiscal year (or period) under review and the previous fiscal year (or corresponding period) are negative, or if the percentage change is 1,000% or greater.

Consolidated Financial Statements and Major Explanatory Notes Thereto

(1) Consolidated Statements of Financial Position

			(Millions of yen)
		FY2017	FY2018
		(As of March 31, 2018)	(As of March 31, 2019)
ASSETS
Current assets
Cash and cash equivalents	447,355	385,434
Trade and other receivables	1,437,123	1,363,974
Inventories	1,540,033	1,590,207
Other financial assets	61,282	47,184
Other current assets		98,733	198,851
Sub total		3,584,526	3,585,650
Assets held for sale		8,655	1,737
Total current assets		3,593,181	3,587,387
Non-current assets
Property, plant and equipment	3,327,400	3,381,642
Goodwill	177,216	196,482
Intangible assets	334,404	345,800
Investments accounted for using the equity	404,158	403,241
method
Other financial assets	482,346	422,597
Other non-current assets	6,915	7,662
Deferred tax assets		131,935	133,000
Total non-current assets		4,864,374	4,890,424
TOTAL ASSETS		8,457,555	8,477,811

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			(Millions of yen)
		FY2017	FY2018
		(As of March 31, 2018)	(As of March 31, 2019)
LIABILITIES
Current liabilities
Trade and other payables	1,910,002	1,852,441
Bonds and borrowings	529,058	644,288
Income taxes payable	71,448	28,016
Other financial liabilities	14,387	18,867
Provisions	20,240	40,413
Other current liabilities		449,911	348,301
Sub total		2,995,046	2,932,326
Liabilities directly related to assets held for		771	-
sale
Total current liabilities	2,995,817	2,932,326
Non-current liabilities
Bonds and borrowings	1,730,873	1,573,705
Liabilities for retirement benefits	287,159	274,206
Other financial liabilities	24,379	37,027
Provisions	144,717	152,269
Other non-current liabilities	110,980	105,518
Deferred tax liabilities		243,655	282,944
Total non-current liabilities		2,541,763	2,425,669
Total liabilities		5,537,580	5,357,995
EQUITY
Common stock	100,000	100,000
Capital surplus	1,250,667	1,222,193
Retained earnings	1,017,402	1,272,960
Treasury stock	(4,730)	(29,698)
Other components of equity		176,202	152,385
Total equity attributable to owners of the parent		2,539,541	2,717,840
Non-controlling interests		380,434	401,976
Total equity		2,919,975	3,119,816
TOTAL LIABILITIES AND EQUITY		8,457,555	8,477,811

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