With a mission of encouraging the use of clean natural gas as an energy source, Shizuoka Gas Co., Ltd.,(president: Shiro Ohishi), will continue to follow a basic business policy of providing customers with optimized energy services.
In an energy market swept by ongoing liberalization, we will work with our customers in addressing global environmental problems, while developing the kind of robust operating structure companies now need to thrive in intense competition and provide high-quality services.
While aiming to expand the Group’s market share, we will continue to be the gas supplier of choice for our customers — a comprehensive energy service business that provides superior-quality services by rooting our business in our area and tailoring it to local needs.
Below is an overview of consolidated performance for the six-month period ended June 30, 2003.
Consolidated performance for the six-month period ended June 30, 2003
[() = year on year]
Outlook for full term
For reference: Nonconsolidated performance for the six-month period ended June 30, 2003
[() = year on year]
Outlook for full term
In an energy market swept by ongoing liberalization, we will work with our customers in addressing global environmental problems, while developing the kind of robust operating structure companies now need to thrive in intense competition and provide high-quality services.
While aiming to expand the Group’s market share, we will continue to be the gas supplier of choice for our customers — a comprehensive energy service business that provides superior-quality services by rooting our business in our area and tailoring it to local needs.
Below is an overview of consolidated performance for the six-month period ended June 30, 2003.
Consolidated performance for the six-month period ended June 30, 2003
[() = year on year]
| Sales | ¥30,565 million | (4 7% increase) |
| Recurring profit | ¥4,668 million | (9.0% decrease) |
| Net income | ¥3,208 million | (3.1% increase) |
- Total of city gas customers of the whole Group rose by 6,900 (2.2%) year on year, to 324,770 as of June 30, 2003.
- City gas sales volumes increased by a healthy 18.3% year on year to 244,729,000 m3, due chiefly to increased home consumption amid lower-than-usual winter temperatures and to new industrial demand for large-scale co-generation plant.
- A cut in gas rates in September 2002 by Shizuoka Gas depressed sales revenues, but this was more than offset by expanded sales volumes and other factors.
- Raw materials prices were high, but sales of idle real estate and other measures enabled us to increase net income year on year.
Outlook for full term
| Sales | ¥58,860 million | (5.9% increase) |
| Recurring profit | ¥5,390 million | (1.3% decrease) |
| Net income | ¥3,440 million | (21.6% increase) |
- Steady expansion of sales volumes is expected to fuel a 5.9% increase in sales to ¥58,860 million, but Recurring profit is likely to slide 1.3% to ¥5,390 million reflecting increased costs of sales due to high raw materials costs. Net income for the term is likely to rise 21.6% to ¥3,440 million.
For reference: Nonconsolidated performance for the six-month period ended June 30, 2003
[() = year on year]
| Sales | ¥24,249 million | (3.6% increase) |
| Recurring profit | ¥2,916 million | (8.0% decrease) |
| Net income | ¥2,470 million | (1.3% increase) |
Outlook for full term
| Sales | ¥46,620 million | (5.6% increase) |
| Recurring profit | ¥2,800 million | (16.2% increase) |
| Net income | ¥2,290 million | (33.8% increase) |