Inpex Corp. said its net income fell in the fiscal year that ended March 31.
The Japanese oil company recorded net income attributable to owners of the parent of ¥40.30 billion, or ¥27.64 per share, down from ¥46.10 billion, or ¥31.61 per share in the prior fiscal year.
Its EPS for the year fell short of the S&P Capital IQ consensus EPS estimate of ¥36.59 per share.
Net sales for the year rose to ¥933.70 billion, from ¥874.40 billion in the prior fiscal year. Crude oil sales climbed by 15.1%. Cost of sales rose to ¥498 billion from ¥453.80 billion reported in the comparable period.
In addition, operating income climbed to ¥357.30 billion from ¥336.40 billion in the prior year. The company's ordinary income rose by 16% to ¥387.20 billion from the previous year's ¥333.80 billion.
The company also confirmed its financial forecast for the next 12 months, including annual sales of ¥860 billion, operating income of ¥377 billion and net income of ¥48 billion.
Inpex paid total annual dividends of ¥18 per share for the year and projected the same amount for the next fiscal year.
As of May 14, US$1 was equivalent to ¥109.61.