Idemitsu Kosan : Presentation on Result for the 1st Quarter FY2022（PDF：3,714KB）
August 08, 2022
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Presentation on Results
for the 1st Quarter FY2022
August 9, 2022
Idemitsu Kosan Co.,Ltd.
Table of Contents
Highlights
Results for the 1Q FY2022
Forecasts for FY2022
Reference
Progress in the mid-term management plan
Financial results
Volume
Crude/product price and operation
Business overview
2
Highlights
3
Results for the 1Q FY2022
Summary
Quarterly operating + equity income ("segment income") increased by
¥124.5 billion, driven by inventory impact (YoY+¥89.9 billion) due to crude oil price increase
Segment income excluding inventory impact increased by only ¥34.6 billion.
Coal price increase and Petroleum segment's positive time-lag and improved export margin supported income, which was partially offset by cost increase such as refining fuel
[¥ billions]
FY2021 1Q
FY2022 1Q
Change
Operating Income
119.6
244.1
124.5
+ Equity Income
Inventory impact
69.3
159.2
89.9
Excluding inventory impact
50.3
84.9
34.6
Net Income Attributable to
88.4
179.3
90.9
Owners of the Parent
Excluding inventory impact
40.3
68.9
28.6
4
[¥ billions]
Forecasts for FY2022
Summary
Performance forecasts were revised upwards in light of the large discrepancy between current market and the latest forecasts on resource prices, Singapore product margins, and foreign exchange rates, as well as 1Q progress toward full-year forecasts
The outperformed earnings will be allocated to strategic investment related
to carbon neutrality and shareholder returns
5/10
Revised
Change
Forecast
Forecast
Operating Income
210.0
400.0
190.0
+ Equity Income
Inventory impact
50.0
140.0
90.0
Excluding inventory impact
160.0
260.0
100.0
Net Income Attributable to
165.0
280.0
115.0
Owners of the Parent
Excluding inventory impact
130.0
180.0
50.0
FY2022 shareholder returns / dividends forecast
No change from the previous disclosure
Total payout ratio of over 50% on cumulative net income excluding inventory impact from FY2020-22 and stable dividends of ¥120 per share
5
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Disclaimer
Idemitsu Kosan Co. Ltd. published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 00:11:08 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. 
