The Economic Times

Japan's Idemitsu quadruples FY27 profit forecast to $1.86 billion on stronger oil prices

Idemitsu Kosan has raised its profit forecast for fiscal 2026 to 295 billion yen due to strong performance. The company's net profit for the first half of the fiscal year exceeded expectations, reaching 322.4 billion yen. Idemitsu aims to increase its crude oil sourcing from the Middle East following improvements in shipping. Moreover, the Nghi Son Refinery in Vietnam is projected to be profitable in fiscal 2026.