Idemitsu Kosan : Announcement on Differences between the Consolidated Financial Results and Forecasts
May 12, 2021 at 06:13 am EDT
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May 11, 2021
Press Release
Company Name: Idemitsu Kosan Co., Ltd. Representative Director & Chief Executive Officer: Shunichi Kito
(Company Code: 5019, TSE, First Sect.)
Contact person:Munehiro Sekine, General Manager, Investor Relations Office, Treasury Department (TEL: +81-3-3213-9307)
Announcement on Differences between the Consolidated Financial Results a nd
Forecasts for the Fiscal 2020
Idemitsu Kosan Co.,Ltd. (hereinafter, "Idemitsu" or the "Company") announces differences between the consolidated financial results and forecasts for the fiscal 2020 ending March 2021 (April 1, 2020- March 31, 2021), as follows.
1. Differences between earnings the consolidated financial results and forecasts for the fiscal 2020 (April 4, 2020 - March 31, 2021)
Net Income
Net Sales
Operating
Ordinary
Attributable to
Net income
Income
Income
Owners of the
per share
(¥ millions)
(¥ millions)
¥ millions)
Parent
(¥)
(¥ millions)
Previous Forecast (A)
4,500,000
95,000
57,000
15,000
50.46
Actual Result (B)
4,556,620
140,062
108,372
34,920
117.47
Change (B - A)
56,620
45,062
51,372
19,920
Change (%)
1.3
47.4
90.1
132.8
(For Reference)
Previous FY Results
6,045,850
(3,860)
(13,975)
(22,935)
(76.31)
(FY 3/2020)
2. Reasons for the Differences between Forecasted and Actual FY2020 Performance
Net sales exceeded the previous forecast due to an increase in crude oil prices, among other factors. Operating income and ordinary income exceeded forecasts due to increased inventory valuation gains and improved refining margins in the petroleum segment, among other factors. Net income attributable to owners of the parent was 19.9 billion yen higher than expected, with the above factors being partially offset by the recording of loss on valuation of long-term loans receivable of 18.1 billion.
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Disclaimer
Idemitsu Kosan Co. Ltd. published this content on 11 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 10:11:12 UTC.
Idemitsu Kosan Co., Ltd. is specialized in the production and refining of petroleum products. Net sales break down by category as follows:
- refining of petroleum products (78.8%): fuels, lubricants, kerosene, etc. At the end of March 2019, the group operated 6 refineries in Japan;
- manufacturing of petrochemical products (12.5%): activity carried out in 2 production sites located in Japan;
- exploration and production of oil, coal, uranium and geothermal resources (7%);
- other (1.7%).
Net sales are distributed geographically as follows: Japan (69.8%), Asia-Pacific (19.2%), North America (7.2%), Europe (2.4%) and others (1.4%).
IDEMITSU KOSAN CO., LTD. 
