We are pleased to report that Taiyo Oil's interim financial settlement for the 78th fiscal year (April 1, 2014, through March 31, 2015) has been finalized.
A decline in production volume this term due to large scale periodic maintenance work saw a decline in sales (to 3.13 million KL, a 1.4 million KL decrease compared to the previous year), for sales volume of 305.3 billion yen (a 108.6 billion yen decrease compared to the previous year).
In terms of earnings, increased domestic sourcing as a result of the decline in production, and a large decline in gross profit due to stagnation in part of the petrochemical market led to a loss of operating income, at 1.5 billion yen (a 9.9 billion yen decrease compared to the previous year). Also, in spite of an improvement in non-operating income and expenses, a sudden fall in crude oil prices had effects such as a loss of inventory valuation which led to a loss of ordinary income, at 2.1 billion (a 9.2 billion yen decrease compared to the previous year), which in turn caused a loss in the 78th fiscal year net income, at 2.1 billion (a 6.2 billion yen decrease compared to the previous year): a decrease in both income and profit.
(unit: JPY 100 million)
|77th fiscal year||78th fiscal year||year-on-year|
（Ordinary income excluding stock-related factors）
（ -17 ）
( -64 )
|(On a consolidated basis)|
|Consolidated sales volume||4,169||3,083||-1,086|
|Consolidated ordinary income||72||-30||-102|
|Consolidated net income||41||-31||-72|