Shizuoka Gas reports strong profit growth in Q3, driven by acquisitions

Shizuoka Gas Co. reported its consolidated financial results for the third quarter ended September 30, 2025, showing significant profit growth. Operating profit increased by 23.8% to JPY 12,929 million, and ordinary profit rose by 8.0% to JPY 12,982 million compared to the same period last year. Net profit attributable to owners of parent saw a 14.8% increase, reaching JPY 9,229 million. Diluted earnings per share were JPY 122.49.

Despite these strong profit figures, net sales for the period slightly decreased by 1.1% to JPY 151,198 million. The company attributed this to lower gas sales unit prices due to the fuel cost adjustment system and reduced revenue from the electricity supply-demand adjustment market, which partially offset increases from new business operations and M&A activities. Total assets grew by JPY 12,029 million to JPY 182,231 million, primarily due to the acquisition of mineral rights in a US shale gas development project.

For the full fiscal year ending December 2025, Shizuoka Gas projects consolidated net sales of JPY 200,660 million, operating profit of JPY 12,830 million, ordinary profit of JPY 12,490 million, and net profit attributable to owners of parent of JPY 8,920 million, with a projected EPS of JPY 118.44. The company has revised its full-year forecast based on Q3 performance and updated assumptions for raw material prices and exchange rates, including a revised exchange rate of JPY 152 per USD for November onwards.