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Japan Petroleum Exploration Co., Ltd. surges for first time in 8 days, targets ROE above 12% for fiscal 2035 in management plan
Japan Petroleum Exploration <1662> surged for the first time in eight days. Shares were buoyed by a rally in crude oil prices after U.S. President Trump announced an extension of the ceasefire with Iran on the 21st, while maintaining a reverse blockade of the Strait of Hormuz. WTI crude futures for June delivery rose 3.29 USD to 92.96 USD per barrel on the 22nd and remained elevated around 94 USD by noon on the 23rd in Tokyo.
The company also unveiled its "JAPEX Management Plan 2026-35" on the 22nd, setting ambitious long-term targets. The plan projects net income of 75,000 million yen for fiscal 2031 and 100,000 million yen for fiscal 2035, compared to a fiscal 2025 forecast of 45,000 million yen. Japan Petroleum Exploration aims to expand oil and gas production while strengthening shareholder returns, targeting an ROE of above 12% by fiscal 2035, up from the 6.7% projected for fiscal 2025.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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