Keiyo Gas ＜9539＞ announced consolidated financial results for the 1st quarter (January to March 24) of the fiscal year ending 2024/12 on the 13th. Net sales decreased 15.3% from the same period last year to 37.088 billion yen, operating profit fell 90.3% to 398 million yen, ordinary profit fell 89.7% to 425 million yen, and quarterly net profit attributable to parent company shareholders fell 92.7% to 212 million yen.

The volume of gas sales in the first quarter for household use decreased by 0.7% compared to the same period last year due to the effects that the temperature and water temperature from January to February remained higher than the previous year. For business use, there was a 4.7% decrease due to a decrease in the operation of commercial customer equipment, etc. As a result, total gas sales volume decreased by 2.5% compared to the same period last year.

Sales decreased 15.3% from the same period last year due to a decrease in sales volume and downward adjustments in sales unit prices due to the raw material cost adjustment system, etc. The cost of sales decreased 9.1% from the same period last year due to a decrease in gas raw material costs due to falling raw material prices, etc.

Regarding the consolidated earnings forecast for the full year ending 2024/12, the revised plan announced on 4/26 is unchanged, with sales down 4.4% from the previous fiscal year to 1,170 billion yen, operating profit down 35.4% to 1100 billion yen, ordinary profit down 26.0% to 1,800 billion yen, and net income attributable to parent company shareholders falling 11.0% to 130 billion yen.