[Explanatory Material]
Financial Results
for the Six Months Ended September 30, 2021
November 9, 2021
Japan Petroleum Exploration Co., Ltd.
Note: This material is an English translation of the Japanese-language original
Copyright © 2021 Japan Petroleum Exploration Co., Ltd. All rights reserved.
Contents
Ⅰ . Financial Highlights
Ⅱ. Financial Results for the Six Months Ended September 30, 2021
Ⅲ. Revised Financial Forecasts for the fiscal year ending March 31, 2022
Note) This material also serves as the presentation material for the financial results briefing for the institutional investors and analysts to be held on November 10, 2021.
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Ⅰ . Financial Highlights
Ⅱ. Financial Results for the Six Months Ended September 30, 2021
Ⅲ. Revised Financial Forecasts for the fiscal year ending March 31, 2022
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Financial Highlights
- 2Q FY3/22 Results (Year-on-Year)
(Billion Yen) | FY3/21 2Q (a) | FY3/22 2Q (a) | Change | |
Operating profit | (6.2) | 9.5 | +15.8 | - |
Ordinary profit | (6.8) | 19.3 | +26.1 | - |
Profit attributable to owners of parent | (6.9) | (119.6) | (112.7) | - |
• Operating profit: | (E&P) Increase in profit of domestic sales and diluted bitumen sales due to a rise of crude oil prices |
(I/U) Increase in profit due to an increase of the sales volume of electricity by operating for the full | |
reporting period in Fukushima Natural Gas Power Plant* | |
*Operated by Fukushima Gas Power Co., Ltd., which is invested by 5 companies as partners, including JAPEX |
- Extraordinary losses: 44.2 bn. JPY of loss on transfer of interests (Shale gas project in Canada), 94.1 bn. JPY of loss on sale of shares of subsidiaries (Oil sands project in Canada)
- FY3/22 Forecasts Revision (vs. Aug. 10 Forecasts)
(Billion Yen) | Aug 10, 2021 (f) | Nov 9, 2021 (f) | Change | ||
Operating profit | 11.8 | 16.6 | +4.7 | +40% | |
Ordinary profit | 26.1 | 28.3 | +2.2 | +9% | |
Profit attributable to owners of parent | (114.0) | (69.8) | +44.1 | - | |
• Operating profit: | (E&P) Increase in sales volume of natural gas produced in Japan and a rise of sales prices | ||||
(I/U) Increase in marginal gain on LNG procurement |
- Extraordinary income: 39.8 bn. JPY of gain on sale of investment securities
- Shareholder Return
- Annual dividend forecast for the FY3/22 remains unchanged at 50 JPY per share (25.0 JPY at the interim and 25.0 JPY at the year-end)
- Decided to repurchase own shares for up to 3 million shares or 8 billion JPY
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Reduction of strategic shareholdings and shareholder returns
Partial sale of INPEX shares
- Sold a portion of holding shares in INPEX CORPORATION and reduced our holding ratio from the perspective of asset efficiency and other factors.
- JAPEX to recognize 39.8 billion JPY of extraordinary income from sale of investment securities in 3Q FY3/22.
- Proceeds from sale of 49.8 billion JPY will be allocated to shareholder returns and investment in growth.
Number of shares owned before the sale
106,893,200
(7.32 %*1 of the total number of outstanding shares excl. treasury shares)
Number of shares sold | 53,446,600 | (Sale price per share: 946 yen) |
Number of shares owned after the sale | 53,446,600 | (3.80%*2 of the total number of outstanding shares excl. treasury shares) |
Repurchase of own shares
- A portion of the proceeds from the aforementioned sales will be used to repurchase shares for shareholder returns and improve capital efficiency.
- All of the repurchased treasury shares will be cancelled.
Own shares to be repurchased | Up to 3,000,000*3 shares or up to 8 billion JPY |
Aim to improve efficiency of both assets and capital while balancing between securing funds for investment in growth and shareholder returns
Repurchase method | Market purchases |
Repurchase period | From November 10, 2021 to November 9, 2022 |
Note)
*1: Share holding ratio to 1,460,357,100 shares after excluding 1,966,500 shares of treasury shares as of September 30, 2021
*2: Share holding ratio to 1,406,910,100 shares after excluding 1,966,500 shares of treasury shares as of September 30, 2021, and 53,446,600 shares of treasury shares repurchased by INPEX through ToSTNeT-3 today.
*3: 5.25% of 57,152,394 shares, which is the number of shares obtained by excluding 2,382 shares of treasury shares from the total number of issued shares as of October 31, 2021.
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JAPEX - Japan Petroleum Exploration Co. Ltd. published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 06:02:04 UTC.