Japan Petroleum Exploration, The Current Fiscal Year Ordinary Profit Revised Upward by 23%

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Wed Feb 12, 2025 2:00 pm JST Earnings

1662 Japan Petroleum Exploration Co., Ltd. 【J-GAAP】

Earnings Report

Japan Petroleum Exploration Co., Ltd. <1662> [TSE Prime] announced its financial results in the afternoon session on February 12th (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) was 46.8 billion yen, a 2.8% decrease compared to the same period last year.

However, the full-year consolidated ordinary profit has been revised upward 23.2%, from the previous forecast of 54.2 billion yen to 66.8 billion yen (compared to 68.8 billion yen in the previous period), and the declining rate is expected to decrease from 21.2% to 2.9%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 44.4%, from the previous forecast of 28.3 billion yen to 40.9 billion yen (compared to 29.6 billion yen in the same period of the previous year), turning to a 38.1% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 2.3 times that of the same period last year, reaching 20.9 billion yen. The operating profit margin rose from 14.3% in the same period last year to 17.3%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	225,105	38,742	57,878	43,286	158.6	69.6	Feb 10, 2023	J-GAAP
Apr - Dec, 2023	229,938	39,868	48,162	36,515	134.8	70.0	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	274,820	44,510	46,810	74,440	288.1	70.1	Feb 12, 2025	J-GAAP
YoY	+19.5%	+11.6%	-2.8%	+103.9%	+113.8%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	180,394	26,629	28,385	57,361	224.2	25	Nov 13, 2024	J-GAAP
Oct - Mar, 2024 New	199,794	34,929	40,985	65,861	257.4	25	Feb 12, 2025	J-GAAP
Revision Rate	+10.8%	+31.2%	+44.4%	+14.8%	+14.8%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	364,000	55,400	54,200	78,500	306.8	50	Nov 13, 2024	J-GAAP
Mar, 2025 New	383,400	63,700	66,800	87,000	340.0	50	Feb 12, 2025	J-GAAP
Revision Rate	+5.3%	+15.0%	+23.2%	+10.8%	+10.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	175,155	26,746	29,673	25,891	96.0	35	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	199,794	34,929	40,985	65,861	257.4	25	Feb 12, 2025	J-GAAP
YoY	+14.1%	+30.6%	+38.1%	+154.4%	+168.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	336,492	62,085	83,130	67,394	247.3	74	May 12, 2023	J-GAAP
Mar, 2024	325,863	55,247	68,808	53,661	198.9	60	May 14, 2024	J-GAAP
Mar, 2025 Guidance	383,400	63,700	66,800	87,000	340.0	50	Feb 12, 2025	J-GAAP
YoY	+17.7%	+15.3%	-2.9%	+62.1%	+70.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	79,230	11,367	9,027	8,745	32.3	14.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	95,925	15,379	20,646	17,146	63.6	16.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	89,465	12,948	16,560	11,493	43.9	14.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	94,141	15,823	9,255	9,646	37.2	16.8	Nov 13, 2024	J-GAAP
Oct - Dec, 2024	91,214	15,739	20,995	53,301	206.3	17.3	Feb 12, 2025	J-GAAP
YoY	+15.1%	+38.5%	+132.6%	+509.5%	+539.2%