Q1 2021 Idemitsu Kosan Co Ltd Earnings Presentation Transcript

Aug 06, 2020 / NTS GMT

Release Date Price: $4.24

Transcript

Noriaki Sakai

Idemitsu Kosan Co.,Ltd. - Senior Executive Officer & CFO

My name is Sakai of Idemitsu Kosan. I would like to explain our first quarter results, which were announced today.

I would like to start with our summary on Page 2. Earnings in the first quarter fell significantly by about JPY 130 billion year-on-year, mainly due to inventory impact losses, decreased demand for petroleum products and equity losses relating to NSRP in Vietnam.

Our consolidated forecasts remain unchanged from our announcement on May 26. We forecast interim dividends of JPY 60 per share and fiscal year-end dividends of JPY 60 per share for an annual total of JPY 120 per share.

The next slide shows the key topics for the quarter. With respect to the impact of the COVID-19 pandemic, the 4 core petroleum products fell sharply year-on-year in

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