Japan Petroleum Exploration (1662) Q3 2025 earnings summary

Executive summary

• Net sales rose 19.5% year-over-year to ¥274,820 million for the nine months ended December 31, 2024, driven by higher crude oil sales in North America and Europe and increased LNG sales volume.

• Operating profit increased 11.6% year-over-year to ¥44,510 million, while ordinary profit declined 2.8% to ¥46,810 million due to a shift from equity method profit to loss and lower foreign exchange gains.

• Profit attributable to owners of parent surged 103.9% year-over-year to ¥74,440 million, mainly due to a significant gain on sale of investment securities.

Financial highlights

• Gross profit increased 13.4% year-over-year to ¥71,167 million.

• Basic earnings per share for the period was ¥288.14, reflecting a 5-for-1 stock split.

• Total assets decreased by ¥8,316 million from the previous fiscal year-end to ¥652,612 million.

• Net assets decreased by ¥6,544 million to ¥531,029 million, mainly due to a drop in valuation difference on available-for-sale securities.

Outlook and guidance

• Full-year net sales forecast revised to ¥383,400 million, up 17.7% year-over-year.

• Operating profit forecast at ¥63,700 million (+15.3%), ordinary profit at ¥66,800 million (-2.9%), and profit attributable to owners of parent at ¥87,000 million (+62.1%).

• Basic earnings per share for the full year projected at ¥337.57, considering the stock split.