Fiscal Year 2025 Q3 Financial Presentation Materials

Overview of Fiscal 2025 Q3 Financial Results

Operating income plus equity in earnings for fiscal 2025 Q3 was 116.9 billion yen, significantly down from 168.5 billion yen in the same period last year, and net income attributable to owners of parent was 105.7 billion yen, a decrease from 143.5 billion yen YoY. The main loss factors were large-scale periodic maintenance in the Fuel Oil segment and the decline in coal prices. Net sales were 5,944.6 billion yen, down 13.6% YoY, and operating income was 36.7 billion yen, down 70.2% YoY.

Segment Performance and Business Trends

The Fuel Oil segment reported profit/loss of 90.0 billion yen, down 19.7 billion yen YoY. Basic chemicals recorded a 10.6 billion yen decrease in profit, functional materials posted a 6.3 billion yen increase, and the Power & Renewable Energy segment reported a 0.4 billion yen increase. The Resources segment posted 26.2 billion yen, down 33.4 billion yen YoY, impacted by the decline in coal prices. In business developments, construction of a large pilot plant for solid electrolytes for all-solid-state lithium-ion batteries was decided to accelerate development toward commercialization in 2027-2028. The Nghi Son refinery in Vietnam is expected to post a final loss but continues high utilization, and Fuji Oil has been consolidated as a subsidiary. A chemical recycling plant for plastic resource circulation through oil-based chemical recycling is scheduled to start commercial operations in April 2026.