Japan Petroleum Exploration : Notice of Financial Forecasts Revision(128.1 KB)

Note: The following is an English translation of the Japanese-language original

February 9, 2022

Company Name:	Japan Petroleum Exploration Co., Ltd. (JAPEX)
Securities Code:	1662 (First Section of the Tokyo Stock Exchange)
Representative:	FUJITAMasahiro, Representative Director and President
Inquiries:	Corporate Communication Office
TEL:	[phone]

Notice of Financial Forecasts Revision

Japan Petroleum Exploration Co., Ltd. (JAPEX) hereby revised its consolidated financial forecasts for FY2022/3 disclosed on November 9, 2021, based on our recent business trends and performance.

(1) Revision to consolidated forecasts for FY2022/3 (April 1, 2021 - March 31, 2022)

	Net sales	Operating	Ordinary	Profit	Net income
		profit	profit	attributable	per share
				to owners of
	(Millions of yen)	(Millions of yen)	(Millions of yen)	parent	(Yen)
	(Millions of yen)
Previous forecasts (A)	235,098	16,669	28,390	(69,847)	(1,230.53)
Revised forecasts (B)	235,749	16,168	31,972	(39,029)	(687.28)
Difference in amount (B - A)	650	(500)	3,581	30,817
Rate of change (%)	0.3	(3.0)	12.6	―
(Reference) FY 2021/3	240,078	4,192	10,001	(2,725)	(47.73)

Note: FY=Fiscal Year (FY2022/3, for instance, means 12 months ending March 31, 2022)

1. Reasons of revision:
   Compared to the previous forecasts on November 9, 2021, net sales are expected to increase, mainly due to

an expected increase in sales prices of natural gas (Japan) and electricity resulting from the soaring LNG market. On the other hand, operating income is expected to decrease due to an increase in the procurement cost by

procuring an alternative LNG cargo in the spot market, due to the production problem at an LNG supplier. Ordinary profit is expected to increase due to an expected increase in the share of profit of entities accounted

for using equity method.

Loss attributable to owners of parent is expected to decrease, due to an expected gain on forgiveness of debts as an extraordinary income, as disclosed in "Notice Regarding Dissolution of a Subsidiary, Waiver of Claims, and Posting of Extraordinary Income" dated December 17, 2021.

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(3) Reference:
[Crude Oil Price (CIF)]		(USD/bbl)
Previous		Revised
Average from April to September 2021 (actual)	67.38	Average from April to December 2021 (actual)	70.28
October 2021 to March 2022 (forecast)	70.00	January to March 2022 (forecast)	70.00
[Exchange Rate]		(JPY/USD)
Previous		Revised
Average from April to September 2021 (actual)	109.15	Average from April to December 2021 (actual)	109.96
October 2021 to March 2022 (forecast)	108.00	January to March 2022 (forecast)	110.00

Note: The aforementioned forecasts are based on the current available information and the actual performances and other results may differ materially due to various factors in the future.

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