INPEX CORPORATION shares erase morning gains despite raising fiscal 2026 earnings forecast

INPEX CORPORATION <1605> erased early gains to turn lower. After the market close on the 13th, the company raised its consolidated net profit forecast for the fiscal year ending December 2026 to a range of 350 billion-450 billion yen from the previous 330 billion yen, representing a year-on-year change of down 11.1% to up 14.3%. The company raised its assumed average crude oil price for the current fiscal year to $70-83 per barrel from $63 per barrel. While the recent rise in crude oil prices is expected to boost earnings, the company reported first-quarter net profit of 109.414 billion yen, down 13.4% year-on-year. Upside remained limited, and shares declined after initial buying subsided.

Source: MINKABU PRESS

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