Idemitsu Kosan : Presentation on Result for the 2nd Quarter FY2022
November 07, 2022
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Presentation on Results
for the 2nd Quarter FY2022
November 8, 2022
Idemitsu Kosan Co.,Ltd.
Table of Contents
Highlights
Results for the 2Q 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 2Q FY2022
Summary
Operating + equity income (segment income) increased to ¥182.4 billion, driven by positive inventory impact (+¥97.6 billion year-on- year) due to increased crude oil prices and JPY depreciation and increased profits in coal business due to strong coal market conditions
With respect to segment income excluding inventory impact, the increase from the coal business and improved fuel oil export margins was partially offset by an increase in fuel costs
[¥ billions]
FY2021 2Q
FY2022 2Q
Change
Operating Income
191.9
374.3
182.4
+ Equity Income
Inventory impact
110.6
208.2
97.6
Excluding inventory impact
81.3
166.2
84.8
Net Income Attributable to
142.7
280.8
138.1
Owners of the Parent
Excluding inventory impact
66.0
136.4
70.4
4
[¥ billions]
Forecasts for FY2022
Summary
While trends in the business environment remain unclear due to the lingering Russia/Ukraine situation, global inflation, etc., earnings forecasts were revised to reflect crude oil prices fluctuation, sharp JPY depreciation and soaring coal prices.
The outperformed earnings will be allocated to investment related to
carbon neutrality and shareholder returns
8/9
Revised
Change
Forecast
Forecast
Operating Income
400.0
450.0
50.0
+ Equity Income
Inventory impact
140.0
120.0
(20.0)
Excluding inventory impact
260.0
330.0
70.0
Net Income Attributable to
280.0
325.0
45.0
Owners of the Parent
Excluding inventory impact
180.0
240.0
60.0
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 08 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2022 00:13:58 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. 
