Japex to boost profit to 100 billion yen by FY2035 by expanding overseas business

Japan Petroleum Exploration Co

22/04/2026 07:02

TOKYO, Aug 9 (Reuters) - Japan Petroleum Exploration 1662.T said on Wednesday it aims to raise net profit to 100 billion yen ($628.38 million) by fiscal 2035 from 45 billion yen in fiscal 2025, by expanding overseas exploration and production along with its its carbon capture, utilization and storage business.

The company said it plans to invest a total of 1.5 trillion yen in growth areas over the next 10 years, including 900 billion yen in fiscal 2026-2031, with the remainder allocated to fiscal 2032–2035.

It also plans to start storing 1.5-2 million metric tons of carbon dioxide annually by fiscal year 2031, targeting a cumulative total of 8 million tons or more by fiscal 2035.

The company aims to lift return on equity (ROE) to 12% by fiscal 2035 from 6.7% in fiscal 2025.

Japex said last week that it has secured two liquefied natural gas cargoes on a spot basis from non-Middle East areas as substitutes for those originally set to be procured from the Gulf in the April-June quarter, in response to the blockade of the Strait of Hormuz.

($1 = 159.1400 yen)

 (Reporting by Yuka Obayashi; Editing by Ronojoy Mazumdar)

 ((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))