Major Japanese Oil Wholesalers Enjoy Profit Growth for FY 2025

Tokyo, May 14 (Jiji Press)--Three major Japanese oil wholesalers have reported double-digit percentage increases in net profit for fiscal 2025, which ended in March, reflecting surging crude oil prices amid the deteriorating situation in the Middle East.

Eneos Holdings Inc. posted a consolidated net profit of 258.7 billion yen, up 14.4 pct from the previous year, followed by Idemitsu Kosan Co. with 171.9 billion yen, up 65.2 pct, and Cosmo Energy Holdings Co. with 74 billion yen, up 28.4 pct.

For fiscal 2026, Eneos Holdings forecasts a net profit of 415 billion yen, Idemitsu Kosan projects a profit of 75 billion yen, and Cosmo Energy Holdings predicts a profit of 44 billion yen.

The companies are bracing for the possibility of crude oil prices dropping once the situation in the Middle East calms down, which could reduce their profits. They assume that shipments through the Strait of Hormuz, currently under a de facto blockade, will normalize between June and September or later.

"We are also focusing on procuring crude oil that does not pass the Strait of Hormuz, including U.S. oil," Eneos Holdings President Tomohide Miyata said at a press conference on Thursday.

[Copyright The Jiji Press, Ltd.]