Summary of Consolidated Financial Results for the Three Months Ended June 30, 2023 [Based on Japanese GAAP] ( 141KB )

In the business environment surrounding our group, the recovery of petroleum products, mainly aviation-related products, has been observed since COVID-19 was reclassified to category 5 of infectious diseases. However, the outlook remains uncertain due to a decline in consumer sentiment caused by high prices.

Under these circumstances, during the three months ended June 30, 2023, net sales decreased by 2.5% year-on-year to 151,020 million yen. Operating profit increased by 58.0% year-on-year to 3,804 million yen due to strong performance in the Aviation-related business, ordinary profit increased by 51.3% year-on-year to 4,092 million yen, and profit attributable to owners of parent increased by 50.7% year-on-year to 2,576 million yen.

Results by business segment are as follows.

In the Petroleum-related business, net sales decreased by 2.7% year-on-year to 129,064 million yen. Segment profit increased by 10.7% year-on-year to 2,020 million yen due to a slowdown in the retail business results, but improved margins in the wholesale business.

In the Chemicals Products-related business, net sales increased by 3.5% year-on-year to 3,034 million yen due to higher sales prices for petroleum-based solvents. Segment profit decreased by 8.7% year-on-year to 208 million yen due to a recovery in the profit margin for petroleum-based solvents, but an increase in selling, general and administrative expenses.

In the Gas-related business, net sales decreased by 14.0% year-on-year to 13,147 million yen due to a decline in sales prices. Segment profit decreased 49.7% year-on-year to 336 million yen due to a decrease in profit from inventory valuations.

In the Aviation-related business, net sales increased by 68.4% year-on-year to 4,496 million yen due to an increase in the volume of fuel handled on international routes at Haneda Airport. Segment profit was 1,990 million yen (compared to segment profit of 337 million yen during the three months ended June 30, 2022 in the previous fiscal year).

In the Other businesses decreased by 10.0% year-on-year to 1,277 million yen due to sluggish net sales in the cleaning and surface treatment businesses for metal products and other products. Segment profit decreased by 50.2% year-on-year to 128 million yen.