Notice Regarding Change of a Consolidated Subsidiary (Share Transfer)
Japan Petroleum Exploration Co., Ltd. (JAPEX) announced that it has resolved at a Executive Committee held today, to transfer all shares in its consolidated subsidiary, Japex Energy Co., Ltd. (JPE), to Astomos Energy Corporation (AE).
1. Reason for the share transfer
Since the acquisition of JPE in 2009, JAPEX has pursued initiatives such as selling petroleum products including LPG and fuel oil, through JPE.
In a bid to strengthen profitability and build a medium to long-term business foundation while contributing to realize a carbon-neutral society under the JAPEX Management Plan 2022-2030, the medium to long-term management plan for the period 2022 to 2030 formulated in March 2022, JAPEX has decided to transfer all shares in JPE as part of a review of its business portfolio.
2. Outline of the consolidated subsidiary to be transferred
(1) Corporate Name |
Japex Energy Co., Ltd. |
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(2) Head Office |
Ueno Frontier Tower, 3-24-6, Ueno, Taito-ku, Tokyo |
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(3) Title and Name ofRepresentative |
Representative Director and President, Yuji Kobayashi |
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(4) Business Activities |
Purchase and sale of LNG, oil products, etc. |
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(5) Share Capital |
90 million yen |
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(6) Date of Establishment |
October 30, 2009 |
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(7) Major Shareholdersand Shareholding Ratio |
JAPEX： 90%Mitsubishi UBE Cement Corporation： 10% |
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(8) Relationships betweenthe listed company and the company concerned |
Capital Relationship |
JAPEX owns 90% of the shares of JPE |
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Personnel Relationship |
JAPEX dispatches officers to JPE |
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Business Relationship |
JPE sells petroleum products and other products to JAPEX |
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(9) Operating results and financial position of JPE for the past three years |
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Fiscal year |
For the year ended March 2023 |
For the year ended March 2024 |
For the year ended March 2025 |
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Net assets |
1,533 million yen |
1,789 million yen |
2,006 million yen |
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Total assets |
7,850 million yen |
8,061 million yen |
8,684 million yen |
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Net assets per share |
1,533 thousand yen |
1,789 thousand yen |
2,006 thousand yen |
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Net sales |
50,459 million yen |
49,850 million yen |
53,676 million yen |
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Operating profit |
314 million yen |
458 million yen |
417 million yen |
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Ordinary profit |
312 million yen |
457 million yen |
415 million yen |
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Net profit |
206 million yen |
297 million yen |
276 million yen |
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Basic earnings per share |
206 thousand yen |
297 thousand yen |
276 thousand yen |
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Dividend per share |
41,400 yen |
60,000 yen |
Undecided |
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3. Outline of the Counterparty to the Share Transfer
(1) Corporte Name |
Astomos Energy Corporation |
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(2) Head Office |
Sapia Tower, 1-7-12 Marunouchi, Chiyoda-ku, Tokyo |
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(3) Title and Name ofRepresentative |
Representative Director and President, Mitsuru Yamanaka |
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(4) Business Activities |
Import, purchase, and sale of LPG |
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(5) Share Capital |
10 billion yen |
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(6) Date of Establishment |
June 18, 1962 |
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(7) Net assets |
78,078 million yen (as of December 31, 2024） |
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(8) Total assets |
216,781 million yen (as of December 31, 2024） |
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(9) Major Shareholderand Shareholding Ratio |
Idemitsu Kosan Co., Ltd.： 51%
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(10) Relationships betweenthe listed company and the company concerned |
Capital Relationship |
No applicable |
Personnel Relationship |
No applicable |
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Business Relationship |
No applicable |
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Related Party Status |
No applicable |
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4. Number of shares to be transferred, transfer price and status of shares held before and after the change
(1) Number of shares heldbefore the change |
900 shares (Number of voting rights：900)(Percentage of voting rights held：90%) |
(2) Number of shares transferred |
900 shares (Number of voting rights：900) |
(3) Transfer price |
101 million yen |
(4) Number of shares heldafter the change |
0 shares (Number of voting rights：0)(Percentage of voting rights held：0%) |
5. Schedule
(1) Date of resolution |
May 29, 2025 |
(2) Date of the share transfer contract |
May 29, 2025 (planned) |
(3) Date of the share transfer |
First (334 shares out of 900 shares held by JAPEX) : June 25, 2025 (planned)Second (566 shares) : December 25, 2025 (planned) |
6. Outlook
The impact of the share transfer on consolidated results will be minimal. JPE is scheduled to be excluded from the scope of consolidation for the third quarter of the fiscal year ending March 2026.
Please note that the information in the news is as of the announcement date and may be subject to change without notice.
Contact: +81-3-6268-7110 (Media Relations) / +81-3-6268-7111 (Investor Relations) / +81-3-6268-7000 (Other in general)
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