We are pleased to report that Taiyo Oil's interim financial settlement for the 79th fiscal year (April 1, 2015, through March 31, 2016) has been finalized.
The current period saw a high level of sustained operation without regular repairs. This resulted in increased sales volume (4.35 million KL, an increase of 1.22 million KL over the same period last year), and sales of 329.9 billion yen (an increase of 24.7 billion yen over the same period last year).
Operating income was 9.7 billion yen (an increase of 11.1 billion yen over the same period last year), and ordinary income was 9.8 billion yen (an increase of 11.9 billion yen over the same period last year). This was due to the petrochemicals market moving in a favorable direction, in spite of losses from inventory revaluation caused by the decline in the price of crude oil, as well as by increased sales volume and a recovery in the margins for petrochemical products. As a result, income and profit increased, with current net earnings of 6.5 billion yen (an increase of 8.6 billion yen over the same period last year).
(unit: JPY 100 million)
|Previous interim term||Current interim term||year-on-year|
（Ordinary income excluding stock-related factors）
( -17 )
( 150 )
( +167 )
|(On a consolidated basis)|
|Consolidated sales volume||3,082||3,332||+250|
|Consolidated ordinary income||-29||96||+125|
|Consolidated net income||-30||63||+93|