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Financial results for the 79th fiscal year and change in assignments of Executive Officers

At the Board of Directors meeting of June 13, 2016, the Board approved the financial results for the 79th fiscal year (April 1, 2015, to March 31, 2016) and tentatively confirmed assignments of executive officers.
 Formal confirmation of the assignments of executive officers is scheduled to be made at the Annual Shareholders Meeting and Board of Directors meeting to be held on June 24.

Summary of Financial Statements for the 79th fiscal year

In the current period, there was no regular maintenance work carried out at either the Shikoku or Yamaguchi branches, and sales volumes were up (8.99 million KL; up 1.43 million KL from the same period last year); however, due to the impact of the falling crude oil and products market, the proceeds of sales fell to 609.6 billion yen (down 41.6 billion yen from the same period last year).
On the profits side, falling costs throughout the period and a buoyant market caused by tight supply of and demand for petrochemical products in the East Asia region led to an operating profit of 12 billion yen (up 32.6 billion yen from the same period last year), and an ordinary profit of 12.5 billion yen (up 32.5 billion yen from the same period last year). Furthermore, net profit for the year was 8.7 billion yen (up 21.3 billion yen from the same period last year), making for results which showed a decrease in income, but an increase in profits.

Profit and Loss

(unit: JPY 100 million)

  78th fiscal year 79th fiscal year year-on-year
Sales 6,512 6,096 -416
Operating income -206 120 +326
Ordinary income
(Ordinary income excluding stock-related factors)
-200
(80)
125
(270)
+325
(+190)
Net income -126 87 +213
(On a consolidated basis)      
Consolidated sales volume 6,592 6,172 -420
Consolidated ordinary income -203 124 +327
Consolidated net income -130 85 +215

Assignments of Executive Officers