Inpex profit jumps 32.8% amid yen depreciation

Inpex Corporation (TSE:1605) announced a 32.8% increase in profit attributable to owners of the parent for the year ended December 31, 2024, reaching ¥427.3 billion, compared to ¥321.7 billion in the previous year. Consolidated revenue rose by 4.7% to ¥2,265.8 billion, boosted by a weaker yen and a ¥104.0 billion increase in crude oil revenue. Operating profit climbed 14.1% to ¥1,271.7 billion. Revenue from natural gas saw a slight decrease of ¥2.7 billion. Looking ahead, Inpex forecasts a decrease in revenue and profit for the year ending December 31, 2025, citing lower crude oil price assumptions and planned maintenance in the Ichthys project. The company plans to increase dividends, targeting a payout ratio of 50% or more with a progressive dividend payout starting at ¥90 per share annually, and implementing flexible share buybacks. Inpex proposed a year-end dividend of ¥43 per common stock.