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Interim financial settlement of accounts for fiscal year ending March 31, 2014

We are pleased to report that Taiyo Oil's interim financial settlement for the 77th fiscal year (April 1, 2013, through March 31, 2014) has been finalized.

Outline of the 77th fiscal year interim financial statement

Sales increased to 413,879 million yen (an increase of 82,458 million yen over the same period last year) due to an increase in production. In addition to sales prices rising both in Japan and overseas, it was a year without regular repairs, resulting in sustained production.
In operating profit and loss, gross profit improved greatly, due mainly to fossil fuel products, for an operating profit of 8,354 million yen (a profit improvement of 11,167 million yen over the same period last year).
The same went for ordinary profit and loss, with an improved gross profit of 7,139 million yen (a profit improvement of 10,370 million yen over the same period last year).

Summary of the 77th fiscal year interim financial statement

(unit: JPY 1 million)

  Previous interim term Current interim term Compared with year - earlier period
Gross sales volume 3,993 thousand KL 4,539 thousand KL 546 thousand KL
Sales 331,421 413,879 82,458
Operating income -2,813 8,354 11,167
Ordinary income -3,231 7,139 10,370
Interim net income -2,730 4,124 6,854
(Reference:Consolidated basis)
Consolidated sales 334,254 416,934 82,680
Consolidated ordinary income -3,374 7,195 10,569
Consolidated interim net income -2,939 4,101 7,040