2020.11.13
Taiyo Oil hereby announces the interim financial statement for the 84th fiscal year (April 1, 2020 to March 31, 2021).
Summary of the 84th fiscal year interim financial statement
During the current term, although crude oil prices gently recovered, selling prices remain low level compared to the previous year, and it was necessary to respond to a decrease in demand resulting from the spread of COVID-19, so operational adjustments were carried out at both the Shikoku and Yamaguchi Operations. Production and sales volume decreased (3.39 million kl, down 930,000 kl from the same period last year) due to the implementation of periodic maintenance work as planned at Yamaguchi Operations, and as such, net sales amounted to 197.5 billion yen (down 128 billion yen from the same period last year).
In regard to profit and loss, income fell while profits rose. As a result of a large mark-down of inventory book value at the end of the previous term, there was an inventory valuation gain accompanying the recovery crude oil prices during the current term, so operating income amounted to 9.5 billion yen (up 5.9 billion yen from the same period last year), ordinary income amounted to 9.5 billion yen (up 5.5 billion yen from the same period last year), and current net earnings amounted to 6.7 billion yen (up 3.7 billion yen from the same period last year).
Profit and loss
(unit: JPY 100 million)
|
|
Previous interim term |
Current interim term |
Year-on-year |
|---|---|---|---|
|
Sales |
3,256 |
1,975 |
-1,280 |
|
Operating income |
36 |
95 |
59 |
|
Ordinary income (Ordinary income excluding inventory valuation factors） |
39 (71) |
95 (-7) |
55 (-78) |
|
Current net earnings |
30 |
67 |
37 |
|
(Reference) On a consolidated basis | |||
|
Consolidated sales volume |
3,295 |
2,014 |
(-1,281) |
|
Consolidated ordinary income |
38 |
94 |
55 |
|
Consolidated net income |
29 |
66 |
36 |