Cosmo Energy’s First-Half 2026 Profit Jumps to ¥147.373 Billion
Key Facts
Cosmo Energy Holdings reported net profit attributable to owners of the parent of ¥147.373 billion in the first half of fiscal 2026, compared with ¥23.631 billion in the same period a year earlier, according to the company’s results. Operating profit rose to ¥224.794 billion from ¥60.254 billion, while sales were ¥1.563514 trillion and ordinary profit was ¥232.249 billion. The results showed net profit up 523.6% year over year and operating profit up 273.1%. The company attributed the improvement to higher crude oil prices and better product-market conditions, gains that were offset by a decline in exploration and production. The results highlight the uneven impact of energy-market conditions across the group’s businesses during the period, as restrictions linked to the closure of the Strait of Hormuz continued to limit crude oil sales.
The oil segment was the largest contributor to earnings, recording a profit of ¥211.5 billion, up ¥187.4 billion from the first half of the previous fiscal year. The company said higher crude oil prices than in the year-earlier period were the main driver of the increase. Segment sales were ¥1.4038 trillion, up ¥222.3 billion year over year. In petrochemicals, sales were ¥210.0 billion, up ¥35.5 billion year over year. The segment swung to a profit of ¥9.1 billion, from a loss of ¥2.2 billion in the same period of the previous fiscal year. The company attributed the improvement in petrochemicals mainly to better product-market conditions than in the first half of the previous fiscal year.
By contrast, exploration and production weakened, with sales falling to ¥28.0 billion, or ¥37.4 billion below the level a year earlier. Segment profit fell to ¥5.0 billion, down ¥19.1 billion year over year. The company attributed the decline mainly to lower crude oil sales volumes resulting from production restrictions caused by the closure of the Strait of Hormuz. The drop in sales and profit contrasted with gains in the oil segment, supported by higher crude prices, and improvement in petrochemicals. In an outlook issued in May 2026, the company estimated the total negative impact on exploration and production at about ¥20.0 billion. It estimated the negative volume impact at about ¥40.0 billion, partly offset by a positive price impact of about ¥20.0 billion.
Cosmo Energy left its fiscal 2026 forecast unchanged from its previous announcement on May 12, 2026. The company is targeting annual operating profit of ¥102 billion, ordinary profit of ¥115 billion and net profit attributable to owners of the parent of ¥44 billion. This means its full-year forecast remained unchanged despite the first-half results, according to the company’s disclosure. The company’s fiscal year ends on March 31, according to its corporate information page. The company set December 7, 2026, as the scheduled start date for payment of its interim dividend. In the last trading session before this report, shares closed at ¥3710 on November 9, according to EL7 data.