Idemitsu Kosan Co. (5019) Q2 2027 earnings summary

Executive summary

• H1 FY2027 revenue rose 33.6% YoY to ¥5,055.9bn and operating income reached ¥425.7bn, supported by inventory gains, positive time-lag effects and strong petroleum trading.

• Income attributable to owners of the parent was ¥322.4bn; excluding inventory impact, income before tax excluding financial expenses was ¥198.2bn and attributable income was ¥143.6bn.

Financial highlights

• Gross profit was ¥702.2bn versus ¥304.1bn YoY; income before tax was ¥449.9bn versus ¥73.6bn, and basic EPS was ¥267.65 versus ¥50.39.

• Reported income before tax excluding financial expenses was ¥459.3bn, including a ¥261.1bn inventory impact; excluding that impact, it increased ¥73.2bn YoY to ¥198.2bn.

• Excluding inventory impact, attributable income increased ¥41.9bn YoY to ¥143.6bn.

Outlook and guidance

• FY2027 forecasts: income before tax excluding financial expenses ¥295bn; income attributable to owners of the parent ¥240bn; inventory-impact-excluded attributable income ¥165bn; EPS ¥244.88.

• FY2027 annual dividend forecast rose to ¥40/share, comprising ¥18 interim and ¥22 year-end; the prior annual dividend was ¥36/share.

• Forecasts are based on information and assumptions available at publication; actual results may differ.