Slide 1: Presentation on Results for FY2021
Presentation on Results for FY2021 May 10, 2022 Idemitsu Kosan Co.,Ltd.
Slide 2: Table of Contents
Table of Contents Highlights Results for FY2021 Forecast for FY2022 Progress in the mid-term management plan Reference Financial results and mid-term management plan Volume Crude/product price and operation Business overview 2
Slide 3: Highlights
€& idemitsu Highlights # © Idemitsu Kosan Co, Ltd. All Rights Fi
Slide 4: FY 2021 Financial Results
FY 2021 Financial Results Summary Operating and equity income increased by ¥349.2 billion y-o-y, mainly due to inventory impact and time-lag following a surge in crude oil price in Jan-Mar in Petroleum segment and income increase in Resources segment Net income increased due to an increase in
Slide 5: FY 2022 Financial Forecast
FY 2022 Financial Forecast Summary Operating and equity income is forecasted to decrease y-o-y despite an increase in refinery utilization ratio and increased income from Resources segment, due to decreases in inventory impact as well as time-lag and an oil E&P subsidiary turning into an equity-
Slide 6: Shareholder Returns
Shareholder Returns Shareholder returns policy in the revised mid-term management plan Total payout ratio of over 50% on cumulative net income from FY2020–22 excluding inventory impact Stable dividends of ¥120 per share FY2021 shareholder returns/dividends Net income (exc. inventory impact
Slide 7: Progress in the Mid-term Management Plan
Progress in the Mid-term Management Plan Summary Cumulative operating and equity income is expected to increase due to an increase in resource prices, despite increased fuel cost in Petroleum segment which is well beyond the impact of positive time-lag Net income is expected to increase due to
Slide 8: Results for FY2021
€& idemitsu MResults for FY2021 # © Idemitsu Kosan Co, Ltd. All Rights Fi
Slide 9: Key Topics
Key Topics Trends in petroleum demand Despite progress in COVID-19 vaccinations, FY2021 demand for the core products remained unchanged y-o-y due to a rapid spread of COVID-19 during the sixth infectious wave and as a decrease in heating demand, etc. Jet fuel sales grew about by 30% y-o-y with
Slide 10: Operating Environment
Operating Environment Dubai Crude Oil Australian Coal Exchange Rate [USD/bbl] Price [USD/ton] Spot Price [JPY/USD] (USD) 120.0 240.0 120.0 220.0 118.0 100.0 200.0 116.2 95.6 183.9 116.0 180.0 80.0 114.0 113.7 78.3 160.0 167.5 112.0 71.7 60.0 66.9 140.0 60.0 110.0 120.0 110.1 109.5 40.0 44.6 108.0 42
Slide 11: Financial Results Overview
Financial Results Overview Crude Oil/Coal/Exchange Rates [USD/bbl, USD/ton, JPY/USD] FY2020 FY2021 Change Crude Oil (Dubai) 44.5 78.1 33.6 75.5% Crude Oil (Brent)* 41.7 70.7 29.1 69.7% Thermal Coal * 60.4 137.3 76.9 127.3% Exchange Rate (TTM) 106.1 112.4 6.3 5.9% *Brent prices and Australian coal
Slide 12: Segment Information
Segment Information Operating Income ＋Equity Income [¥ billions] FY2020 FY2021 Change Petroleum 102.1 369.7 267.6 262.1% Exc. inventory impact 94.7 136.5 41.8 44.2% Basic Chemicals 3.4 8.2 4.8 140.2% Functional Materials 13.0 17.1 4.1 31.8% Power and Renewable Energy (17.3) (9.9) 7.4 － Resources*
Slide 13: Segment Information
Segment Information Factors affecting operating and equity income(exc. inventory impact, y-o-y) [¥ billions] Price Price Performance Volume FX, Margin Chemicals, etc. (time-lag) Margin etc. Equity Income Shift to volume equity method etc. Power Volume etc. Cost etc. Fuel Cost etc. Oil Exploration
Slide 14: Segment Information: Petroleum
Segment Information [Petroleum] YoY ＋¥41.8 bn (FY20: ¥94.7bn ➡ FY21: ¥136.5 bn) [Y-o-y change in Petroleum [Trends in Domestic Petroleum Product Margin*] sales volume (core products)] *Average margin of gasoline, diesel oil, kerosene, and heavy oil A (domestic spot –crude oil) (YoY) [Thousand KL] FY
Slide 15: Segment Information
Segment Information [Basic Chemicals] YoY +¥4.8 bn (FY20: ¥3.4 bn ➡ FY21: ¥8.2 bn) Income increased y-o-y despite weak product market in 4Q [USD/ton] Product FY20 FY21 Change Price Margin Price Margin Price Margin PX 592 183 940 214 348 31 MX 491 82 828 102 337 20 SM 827 418 1,231 505 404 87 [Func
Slide 16: Segment Information: Oil E&P and Coal
Segment Information [Oil E&P] YoY +¥32.0 bn [Coal] YoY +¥44.3 bn (FY20: ¥6.8 bn ➡ FY21: ¥38.7 bn) (FY20: -¥2.0 bn ➡ FY21: ¥42.3 bn) [Oil and gas production and Brent Crude Oil [Coal Production Volume and Australian Coal Price] Spot Price Trends] [Thousand BOE] [USD/bbl] [Thousand tons] [USD/ton] FY2
Slide 17: Balance Sheet
Balance Sheet [¥ billions] 3/31/2021 3/31/2022 Change 3/31/2021 3/31/2022 Change Total Current Cash and Deposits 131.3 140.3 8.9 Liabilities 1,621.3 2,061.3 440.0 Receivables, Total Fixed Inventory, etc. 1,534.2 2,227.8 693.6 Liabilities 1,118.0 1,103.4 (14.6) Total Current Assets 1,665.5 2,368.1 70
Slide 18: Cash Flows
Cash Flows [¥ billions] Cash Flow from Operating Activities 146.1 Net income before tax 388.1 Depreciation Expense 104.8 Change in Working Capital (313.9) Others (32.8) Cash Flow from Investing Activities (111.6) Purchase of tangible fixed assets (94.7) Others (16.9) Cash Flow from Financing Activit
Slide 19: Forecast for FY2022
€& idemitsu mForecast for FY2022 # © Idemitsu Kosan Co, Ltd. All Rights Fi 19
Slide 20: Key Topics
Key Topics Assumptions for FY2022 While crude oil price trends remain uncertain due to the Russia/Ukraine situation, we assume Dubai crude oil price at $100/bbl and Australian coal spot price at $180/ton. [USD/bbl, USD/ton, JPY/USD] Apr-Sep Oct-Dec Jan-Mar FY2022 Apr 2021 2021 2022 assumptions 2
Slide 21: Forecast Overview
Forecast Overview Crude oil/Coal/Exchange Rates [USD/bbl, USD/ton, JPY/USD] FY2021 FY2022 Change Crude Oil (Dubai) 78.1 100.0 21.9 28.0% Crude Oil (Brent)* 70.7 102.5 31.8 45.0% Thermal Coal * 137.3 180.0 42.7 31.1% Exchange Rate (TTM) 112.4 120.0 7.6 6.8% *Brent prices and thermal coal prices are
Slide 22: Segment Information
Segment Information Operating and equity income [¥ billions] FY2021 FY2022 Change Petroleum 369.7 100.0 (269.7) (73.0%) Exc. inventory impact 136.5 50.0 (86.5) (63.4%) Basic Chemicals 8.2 10.0 1.8 22.4% Functional Materials 17.1 20.0 2.9 16.7% Power and Renewable Energy (9.9) (6.0) 3.9 － Resources
Slide 23: Segment Information
Segment Information Factors affecting operating and equity income (exc. inventory impact, y-o-y) [¥ billions] Margin Oil Exploration Coal (time-lag) (18.7) 37.7 Price Lubricants etc. Fuel SF Equity cost etc. Margin etc. Method etc. Cost Vietnam etc. etc. Volume Equity Method Volume Petroleum Basic
Slide 24: Segment Information
Segment Information [Petroleum] YoY -¥86.5 bn (FY21: ¥136.5bn ➡ FY22: ¥50.0 bn) Expected to decrease due to reduced time-lag and cost increase in refining fuel and non-core products such as heavy fuel in spite of higher refinery utilization ratio Export margin is expected unchanged; recent marke
Slide 25: Segment Information
Segment Information [Power and Renewable Energy] YoY +¥3.9 bn (FY21: -¥9.9 bn ➡ FY21 : -¥6.0 bn) Power: expected to increase from a better sales portfolio and reduced procuring costs Solar Frontier: expected to improve due to business restructuring [Oil E&P] YoY -¥18.7 bn (FY21: ¥38.7 bn ➡ FY22:
Slide 26: Investments
Investments [¥ billions] FY2021 FY2022 Maintenance Maintenance Strategic Total Strategic Total Renewal Renewal Petroleum, Basic 5.8 61.0 66.8 6.0 66.0 72.0 Chemicals Power/Renewable Energy, Functional 21.0 13.1 34.1 35.0 23.0 58.0 Materials, etc. Resources 30.9 16.2 47.1 21.0 19.0 40.0 M&A, etc. 30.
Slide 27: Balance Sheet/Cash Flows (FY2022 Forecast)
Balance Sheet/Cash Flows(FY2022 Forecast) [¥ billions] 03/31/2022 03/31/2023 Cash Flow from Operating Activities 130.0 Net income 165.0 Depreciation Expense 118.0 Current Assets 2,420.0 Liabilities 3,110.0 Others (153.0) Cash Flow from Investing Activities (102.0) Strategic/M&A (92.0) Fixed Net 2,24
Slide 28: Progress in the mid-term management plan
Progress in the mid-term management plan 28
Slide 29: Basic Strategy towards 2030 (FY2021 2H initiatives)
Basic Strategy towards 2030 (FY2021 2H initiatives) Promote ROIC management Regular staring, review KPIs ROIC in FY2021 exceeded the mid-term management plan target to 6%, in part due to time-lag and ¥30 billion in sales of non- operating assets Evolve the business platform Dialogue with ex
Slide 30: Portfolio Evolution towards Carbon Neutrality
Portfolio Evolution towards Carbon Neutrality Implementing initiatives aimed at energy/material transition, advanced materials, and next- generation mobility & community in order to achieve a carbon neutral society Advanced materials Lithium solid electrolytes, electronic materials performance chemi
Slide 31: Initiatives on business strategy
Initiatives on business strategy Turning refineries and complexes into CNX (Carbon Neutral Transformation) centers❶(Petroleum, Basic Chemicals) Continuous efforts for establishing an ammonia supply chain❷ Achieved GI funding to develop 100,000 KL ATJ*（SAF）for commercial aircrafts ❸ ・ Financing
Slide 32: Energy Material Transition for CN
Energy Material Transition for CN ❶ Example of the CNX Center concept (Shunan Complex) Significant potential demand for black pellet/ammonia with Japanese largest coal-fired power Establish new biomass generator (expected completion: 12/2022) Supply power for 100,000 households Tosoh Tokuyama Pr
Slide 33: Energy Material Transition for CN: Ammonia
Energy Material Transition for CN ❷Ammonia-related initiatives Background and purpose Ammonia does not emit CO2 during combustion and is a promising next-generation energy source for a decarbonized society Idemitsu is engaging in various initiatives to establish manufacturing technology and to
Slide 34: Energy Material Transition for CN: SAF
Energy Material Transition for CN ❸SAF production facility adopted by GI Fund Projects Details Establish SAF* production line in Chiba Complex using the state-of-the-art ATJ* process technology in 2025 and supply from 2026（adopted by the GI Fund Projects） Background and purpose Growing deman
Slide 35: Financing initiatives supporting CN
Financing initiatives supporting CN ❹ Selected as METI’s transition financing model for the first time in the oil industry Details Planning to issue transition bonds to projects for reducing GHG emissions The transition bond is the first bond in the oil industry to be selected as METI’s “FY202
Slide 36: Reference Materials
€& idemitsu mReference Materials # © Idemitsu Kosan Co, Ltd. All Rights Fi 36
Slide 37: Time-lag impact
Appendix Time-lag impact (Results) [USD/bbl] Dubai crude oil price transition since March 2021 120 110 111 ▲11$ 100 100 90 ＋47$ 92 80 83 82 80 70 73 73 73 72 69 66 60 64 63 Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY22 Positive time-lag impact from the upward crude oil price movement co
Slide 38: Net Sales by segment
Appendix Net Sales by segment (Results) [¥ billions] FY2020 FY2021 Change Petroleum 3,593.4 5,219.4 1,626.0 45.3% Basic Chemicals 329.0 563.5 234.5 71.3% Functional Materials 332.6 421.4 88.8 26.7% Power and Renewable Energy 123.7 138.3 14.5 11.8% Resources* 172.0 338.8 166.8 97.0% Oil E&P 32.9 75.4
Slide 39: Quarterly segment income (cumulative)
Quarterly segment income Appendix （cumulative, exc. inventory impact） (Results) [¥ billions] FY2020 FY2021 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Petroleum (9.4) 27.3 64.9 94.7 29.6 45.1 73.7 136.5 Equity income (27.2) (28.8) (37.2) (41.1) 6.0 8.6 12.4 9.2 Basic Chemicals 0.1 (2.0) (1.0) 3.4 6.7 10.9 7.6 8.2 Equit
Slide 40: Quarterly segment income (Q on Q)
Quarterly segment income Appendix （Q on Q, exc. inventory impact） (Results) [¥ billions] FY2020 FY2021 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Petroleum (9.4) 36.7 37.6 29.7 29.6 15.4 28.6 62.8 Equity income (27.2) (1.6) (8.4) (3.9) 6.0 2.6 3.8 (3.2) Basic Chemicals 0.1 (2.2) 1.0 4.4 6.7 4.2 (3.3) 0.5 Equity income
Slide 41: Sensitivity
Appendix Sensitivity (Results) FY earnings impact item range impact Petroleum ¥3.5bn[(¥3.5bn)] Fuel cost (¥1.0bn）[¥1.0bn] １$/bbl increase Inventory impact ¥4.5bn[（¥4.5bn）] Crude Oil [decrease] Oil E&P ¥0.2bn[(¥0.2bn)] Petroleum(Domestic) ¥2.5bn[(¥2.5bn)] Fuel cost (¥0.5bn）[¥0.5bn] Foreign Exchange
Slide 42: Assumptions (Mid-term plan)
Appendix Assumptions (Mid-term plan) FY2021 Revised mid-term plan FY2022 current forecast item/ Index unit FY2020 FY2021 FY2022 FY2020 FY2021 FY2022 segment Actual Plan Plan Actual Actual Forecast Dubai $/BBL 44.5 60.0 60.0 44.5 78.1 100.0 Crude Oil Brent $/BBL 41.7 61.0 61.0 41.7 70.7 102.5 Naphtha
Slide 43: Segment operating + equity income
Appendix Segment operating + equity income (Mid-term plan) [¥ billions] 43
Slide 44: Segment income (FY2022)
Appendix Segment income（FY2022） (Mid-term plan) [¥ billions] Announced in Current May 21 Forecast Mid-term plan FY2022 FY2022 Change Factors Negative time-lag, volume decrease in core products, Petroleum 107.0 50.0 (57.0)cost increase of refining fuel and related product Basic Chemicals 15.0 10.0 (5
Slide 45: Segment income (3-year cumulative)
Appendix Segment income（3-year cumulative) (Mid-term plan) [¥ billions] Announced in Current May 21 Forecast Mid-term plan Change Factors FY2022 FY2022 Positive time-lag, volume decrease in core products and Petroleum 285.7 281.1 (4.7)jet, cost increase of refining fuel and related product Basic Che
Slide 46: Investment Plan (3-year cumulative)
Appendix Investment Plan（3-year cumulative) (Mid-term plan) [¥ billions] Mid-term management plan Current forecast announced in May 2021 Maintenance Maintenance Strategic Total Strategic Total Renewal Renewal Petroleum, 26.0 194.0 220.0 21.6 163.5 185.1 Basic Chemicals Power/Renewable Energy, 40.0 5
Slide 47: Sales Volume
Appendix Sales Volume (volume data) Petroleum [thousand KL,％] FY2020 FY2021 Change Gasoline 12,764 12,711 (53) (0.4%) Naphtha 305 266 (39) (12.8%) Jet fuel 1,372 1,729 356 26.0% Kerosene 4,287 3,920 (367) (8.6%) Diesel Oil 9,872 9,926 54 0.5% Heavy Fuel Oil A 3,316 3,267 (49) (1.5%) Heavy Fuel Oil
Slide 48: Sales volume
Appendix Sales volume (volume data) Basic Chemicals [kt,%] FY2020 FY2021 Change Basic Chemicals 3,607 3,744 +136 +3.8% Functional Materials [KKL,kt,%] FY2020 FY2021 Change Lubricants* 1,089 1,183 +94 +8.6% Performance Chemicals 628 759 +130 +20.7% *includes sales overseas Power/Renewable Energ
Slide 49: Production Volume
Appendix Production Volume (volume data) Resources (Oil E&P) [KBOED,%] FY2020 FY2021 Change Norway 23.1 23.3 0.2 0.9% Vietnam 0.9 10.5 9.6 ー Production total (KBOED) 24.0 33.8 9.8 40.8% Production total (KBOE) 8,785 12,351 3,566 40.6% *The numbers reflect our rights and ownership ratios based on o
Slide 50: Sales Volume (Forecast)
Appendix Sales Volume(Forecast) (volume data) Petroleum [KKL,％] FY2021 FY2022 Change Gasoline 12,711 12,780 69 0.5% Naphtha 266 230 (36) (13.5%) Jet fuel 1,729 2,280 551 31.9% Kerosene 3,920 3,770 (150) (3.8%) Diesel Oil 9,926 10,150 224 2.3% Heavy Fuel Oil A 3,267 3,100 (167) (5.1%) Heavy Fuel Oi
Slide 51: Sales Volume (Forecast)
Appendix Sales Volume(Forecast) (volume data) Basic Chemicals [kt,%] FY2021 FY2022 Change Basic Chemicals 3,744 3,870 126 3.4% Functional Materials [KKL,kt,%] FY2021 FY2022 Change Lubricants* 1,183 1,230 47 4.0% Performance Chemicals 759 780 22 2.8% *includes sales overseas Power/Renewable Ene
Slide 52: Production Volume (Forecast)
Appendix Production Volume(Forecast) (volume data) Resources (Oil E&P) [KBOED,%] FY2021 FY2022 Change Norway 23.3 14.8 (8.5) (36.7%) Vietnam 10.5 14.6 4.1 38.8% Production total (KBOED) 33.8 29.3 (4.5) (13.2%) Production total (KBOE) 12,351 10,700 (1,651) (13.5%) *The numbers reflect our rights an
Slide 53: Crude Oil Prices (Dubai and Brent)
Appendix Crude Oil Prices(Dubai and Brent) (Crude price) [USD/bbl] 130 Brent Dubai 110 90 70 50 30 10 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 53
Slide 54: Gasoline-Crude Oil (Domestic spot price and spread)
Appendix Gasoline-Crude Oil(Domestic spot price and spread) (Product market) [Price :JPY/L] [Spread：JPY/L] 120 25 100 20 80 15 60 10 40 Spread 5 20 Crude oil Gasoline 0 0 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 54
Slide 55: Diesel-Crude Oil (Domestic spot price and spread)
Appendix Diesel-Crude Oil(Domestic spot price and spread) (Product market) [Price :JPY/L] [Spread：JPY/L] 120 25 100 20 80 15 60 10 40 Spread 5 20 Crude oil Diesel oil 0 0 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 55
Slide 56: Gasoline-Crude Oil (Singapore spot price and spread)
Appendix Gasoline-Crude Oil(Singapore spot price and spread) (Product market) [Price :USD/bbl] [Spread：USD/bbl] 140 18 16 120 14 100 12 10 80 8 60 6 40 4 Spread 2 20 Dubai 0 Gasoline 0 -2 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 56
Slide 57: Diesel-Crude Oil (Singapore spot price and spread)
Appendix Diesel-Crude Oil(Singapore spot price and spread) (Product market) [Price :USD/bbl] [Spread：USD/bbl] 160 35 140 30 120 25 100 20 80 15 60 10 40 Spread 5 20 Dubai Diesel Oil 0 0 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 57
Slide 58: Para-Xylene, Mixed Xylene-Naphtha
Appendix Para-Xylene, Mixed Xylene-Naphtha (Product market) (price and spread) [Price :USD/ton] [Spread：USD/ton] 1,400 700 PX spread Mx spread Naptha PX 1,200 MX 600 1,000 500 800 400 600 300 400 200 200 100 0 0 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 58
Slide 59: Styrene Monomer-Naphtha
Appendix Styrene Monomer-Naphtha (Product market) (price and spread) [Price :USD/ton] [Spread：USD/ton] 1,600 1,000 900 1,400 800 1,200 700 1,000 600 800 500 400 600 300 400 200 200 100 SM spread Naptha SM 0 0 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 59
Slide 60: Operational Data
Appendix Operational Data (Operational data) Refineries Utilization FY2017 FY2018 FY2019 FY2020 FY2021 Idemitsu Kosan 88% 88% 87% 78% 77% Former Showa Shell 88% 93% Number of Service Stations FY2017 FY2018 FY2019 FY2020 FY2021 Idemitsu Kosan 3,545 3,501 3,446 3,426 3,382 Former Showa Shell 3,028
Slide 61: Overview of the Company
Appendix Overview of the Company (Business Overview) as of the end of March, 2022 ∎ Petroleum Segment ∎ Functional Materials Segment Refining Capacity 945 KBD *1) (Lubricants, Performance chemicals, Electronic Domestic fuel oil sales volume materials, Functional asphalt, Agri-bio, Lithium 34 mil
Slide 62: Petroleum Segment
Appendix Petroleum Segment (Business Overview) [KB/D] Operating Refining Refinery RH FCC RFCC FLG Equity Ratio Company Capacity Japan Idemitsu Hokkaido 150 42 33 Kosan Chiba 190 40 45 Aichi 160 60 50 Showa Yokkaichi Yokkaichi 255 45 61 75.0% Sekiyu Toa Oil Keihin 70 42 27 50.1% Seibu Oil Yamaguchi 1
Slide 63: Basic Chemicals Segment
Appendix Basic Chemicals Segment (Business Overview) [mil tons/year] Production Capacity for core products Operating Company Complex/Factory/Refinery Styrene Equity Ratio Ethylene Para-Xylene Mixed Xylene Monomer Japan Idemitsu Kosan Chiba 0.37 0.27 0.21 Aichi 0.17 Tokuyama 0.62 0.21 0.34 Showa Yokk
Slide 64: Functional Materials Segment
Appendix Functional Materials Segment (Business Overview) Lubricants Performance Chemicals ◆Product categories ◆Product categories ・Automotive lubricants (engine oil, etc.) ・Engineering plastics ・Grease ・Adhesives Engineering ・Industrial lubricants (hydraulic actuation oil, cutting oil, ・Solvents, e
Slide 65: Functional Materials Segment
Appendix Functional Materials Segment (Business Overview) Electronic Materials High Performance Asphalt ◆Product categories ◆Asphalt manufacturer which aims to develop state-of- ・Organic EL materials the-art technologies ・Display semiconductor materials etc. ・Recycling, longer life, carbon neutralit
Slide 66: Power/Renewable Energy Segment
Appendix Power /Renewable Energy Segment (Business Overview) Power generation Stake Owned Power Category Power Plant Operating Company capacity* (%) (10,000 KW) Solar 34 domestic locations Idemitsu, other ー 18.1 Biomass Keihin Biomass Power Plant (Kanagawa) Keihin Biomass Power 100 4.9 Tosa Power Pl
Slide 67: Resources Segment (Oil E&P, Gas)
Appendix Resources Segment (Oil E&P, Gas) (Business Overview) Business Overview Production Oil/Gas Reserves 1. Producing crude oil/gas in Norwegian North Sea and selling them mainly in Europe ◆Reserves *2,3 [million BOE] 110 2. Commencing gas field development in Vietnam and other parts of Southeast
Slide 68: Reserve Estimates
Appendix Reserve Estimates (Business Overview) Reserve Estimation Standards ・Idemitsu’s reserves estimation is conducted based on PRMS (Petroleum Resources Management System) standards ・PRMS standards were established jointly by the Society of Petroleum Engineers (SPE), the World Petroleum Congres
Slide 69: Resources Segment (Coal)
Appendix Resources Segment (Coal) (Business Overview) Business Overview Low-carbon Solutions 1. Owns Australian coal mines and has an integrated supply chain from production to sales to provide a ◆Idemitsu Green Energy Pellets stable supply of low-cost coal to Asia (black pellets) 2. Provides high-e
Slide 70: Precaution statement about forecast
Precaution statement about forecast Any information about forecasts for the Company’s operating results, management strategy and management policy contained in this documents other than historical facts is prepared, according to judgments made by the top management of the Company based on informatio