Itochu Enex Co. Ltd. Reports Consolidated Earnings Results for the Nine Months Ended December 31, 2011
January 26, 2012
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Itochu Enex Co. Ltd. reported consolidated earnings results for the nine months ended December 31, 2011. For the period, the company reported net sales of JPY 1,003,189 million against JPY 840,674 million for the same period last year, increased 19.3% year on year as sharply higher crude oil prices led to higher product prices. Operating income was JPY 5,253 million against JPY 3,853 million for the same period last year. Ordinary income was JPY 5,588 million against JPY 4,439 million for the same period last year. Operating income rose due to moves into new business fields such as electricity and steam supply. Income before income taxes and minority interests was JPY 4,880 million against JPY 3,242 million for the same period last year. Net income was JPY 1,824 million or JPY 16.02 per share against JPY 1,380 million for the same period last year. Net cash used in operating activities was JPY 1,709 million against net cash provided by operating activities of JPY 9,528 million for the same period last year. Purchases of property, plant and equipment were JPY 3,907 million against JPY 2,686 million for the same period last year. Purchases of intangible assets were JPY 1,381 million against JPY 979 million for the same period last year.
Itochu Enex Co Ltd is a Japan-based company mainly engaged in home-life business, car-life business, industrial business, and power and utility business. The Company operates through four segments. The Home Life Business segment is engaged in the sale and provision of services of liquefied petroleum (LP) gas, kerosene, electric power, life-related equipment and smart energy equipment. The Car Life Business segment is engaged in the sale and provision of services of gasoline, kerosene, light oil, electric power, and automobiles. The Industrial Business segment is engaged in the sale and provision of services of gasoline, kerosene, light oil, heavy oil, LP gas, and gas-to-liquid (GTL) fuel, the import and export of petroleum products, and the lease of terminal tanks. The Power & Utility Business segment is engaged in electric power generation, steam, district heating service, comprehensive energy service, electric heat supply service, asset management, and rental car business.