Japan’s JX Holdings swings to Y32.9bn Q1 net loss on crude falls

03 August 2012 06:23  [Source: ICIS news]

TOKYO (ICIS)--Japanese refiner JX Holdings reported on Friday a fiscal first-quarter net loss of yen (Y) 32.9bn ($420m), a reversal of a Y76.8bn profit made in the same period last year, partly on a sharp decline in market prices of crude oil.

The refiner recorded an operating loss of Y65.5bn in the three months ending 30 June 2012, compared with an operating profit of Y124.6bn in the previous corresponding period, while net sales increased 5.4% year on year to Y2,551bn.

In the oil refining and sales segment, first-quarter net sales rose 8.4% year on year to Y2,194bn, while the segment incurred an ordinary loss of Y90.9bn, JX Holdings said.

($1 = Y78.26)

By: Tomomi Yokomura
+65 6780 4359

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