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Financial Information: Consolidated Statement of Income

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¥ million
  Apr.'13 - Mar.'14 Apr.'14 - Mar.'15 Apr.'15 - Mar.'16 Apr.'16 - Mar.'17 Apr.'17 - Mar.'18
I Net sales 1,334,625 1,171,226 1,009,564 874,423 933,701
II Cost of sales 490,416 525,443 526,757 453,846 498,039
Gross profit 844,209 645,782 482,806 420,576 435,662
III Exploration expenses 28,205 23,238 6,166 6,734 1,327
IV Selling, general and administrative expenses 82,392 87,657 86,500 77,389 76,971
Operating income 733,610 534,886 390,139 336,452 357,363
V Other income          
1. Interest income 17,462 11,226 10,751 10,460 6,477
2. Dividend income 9,227 6,669 10,825 2,802 4,778
3. Gain on sales of marketable securities 10,335 18,146 25,986
4. Gain on sales of investment securities 4,999
5. Equity in earnings of affiliates 2,175 4,192
6. Gain on transfer of mining rights 27,520
7. Foreign exchange gain 19,562 2,964
8. Gain on reversal of allowance for recoverable accounts under production sharing 17,528
9. Compensation income 12,625
10. Other 13,709 18,639 19,406 18,652 9,664
Total other income 50,734 101,763 69,934 39,090 55,266
VI Other expenses          
1. Interest expense 2,335 2,946 4,198 5,228 7,075
2. Equity in losses of affiliates 5,053 13,443 20,696
3. Provision of allowance for doubtful accounts 8,308
4. Provision for allowance for recoverable accounts under production sharing 8,028 19,449 25,026 14,374
5. Provision for exploration projects 1,165 835 335
6. Provision for loss on business 3,264
7. Foreign exchange loss 4,279 3,759 10,472
8. Loss on disposal of fixed assets 6,258 13,288 4,786
9. Other 13,404 18,561 21,756 5,193 4,547
Total other expenses 34,266 61,494 85,301 41,651 25,360
Ordinary income 750,077 575,155 374,771 333,891 387,269
VII Extraordinary loss          
1. Impairment loss 35,132 45,884 6,366 79,970
Total extraordinary loss 35,132 45,884 6,366 79,970
Income before income taxes 750,077 540,022 328,887 327,525 307,299
Income taxes–current 514,015 448,658 356,585 304,620 308,351
Income taxes–deferred 49,121 15,767 (2,192) (33,227) 1,048
Net income (loss) 186,941 75,597 (25,505) 56,131 (2,100)
Net income (loss) attributable to non-controlling interests 3,250 (2,222) (42,282) 9,963 (42,462)
Net income attributable to owners of parent 183,690 77,820 16,777 46,168 40,362

Consolidated net sales for the year ended March 31, 2018 increased by ¥59.2 billion, or 6.8%, to ¥933.7 billion from the previous fiscal year. The increase of ¥59.2 billion in net sales was mainly derived from the following factors: regarding net sales of crude oil and natural gas, a decrease in sales volume contributing ¥88.7 billion to the decrease, an increase in unit sales price pushing sales up of ¥127.9 billion, the depreciation of the Japanese yen against the U.S. dollar pushing sales up of ¥19.3 billion, and an increase in net sales excluding crude oil and natural gas of ¥0.6 billion. Cost of sales for the year ended March 31, 2018 increased by ¥44.1 billion, or 9.7%, to ¥498.0 billion mainly due to an increase in royalty and others. Exploration expenses decreased by ¥5.4 billion, or 80.3%, to ¥1.3 billion. Selling, general and administrative expenses decreased by ¥0.4 billion, or 0.5%, to ¥76.9 billion. As a result, operating income increased by ¥20.9 billion, or 6.2%, to ¥357.3 billion.
Other income (expenses) improved by ¥32.4 billion, due mainly to posting gain on reversal of allowance for recoverable accounts under production sharing, meanwhile, posting provision for allowance for recoverable accounts under production sharing for the previous fiscal year. As a result, ordinary income increased by ¥53.3 billion, or 16.0%, to ¥387.2 billion.
Extraordinary loss was ¥79.9 billion as a result of posting impairment loss for certain projects due to a drop in future outlook of natural gas prices in Americas.
Total amount of current income taxes and deferred income taxes increased by ¥38.0 billion, or 14.0%, to ¥309.3 billion, and net loss attributable to non-controlling interests was ¥42.4 billion. As a result of the above effects, net income attributable to owners of parent for the year ended March 31, 2018 decreased by ¥5.8 billion, or 12.6%, to ¥40.3 billion.

↓This table is scrollable horizontally.

¥ million
  Apr.'17 - Dec.'17 Apr.'17 - Mar.'18 Apr.'18 - Jun.'18 Apr.'18 - Sep.'18 Apr.'18 - Dec.'18
I Net sales 703,667 933,701 202,351 438,205 700,544
II Cost of sales 354,655 498,039 80,107 176,036 291,045
Gross profit 349,012 435,662 122,244 262,168 409,498
III Exploration expenses 1,746 1,327 175 1,007 3,490
IV Selling, general and administrative expenses 59,366 76,971 18,111 34,726 53,354
Operating income 287,899 357,363 103,956 226,434 352,653
V Other income          
1. Interest income 5,851 6,477 1,559 4,128 6,748
2. Dividend income 2,765 4,778 1,082 1,402 2,259
3. Equity in earnings of affiliates 2,646 4,192 4,822 10,565 17,669
4. Gain on reversal of allowance for recoverable accounts under production sharing 11,243 17,528
5. Foreign exchange gain 757 1,492 5,298 3,245
6. Compensation income 12,625 7,375 7,453
7. Other 7,570 9,664 3,554 4,757 15,699
Total other income 30,834 55,266 19,886 33,607 45,623
VI Other expenses          
1. Interest expense 5,080 7,075 2,088 4,794 10,468
2. Provision of allowance for doubtful accounts 2,653
3. Provision for allowance for recoverable accounts under production sharing 545 1,690 3,209
4. Provision for loss on business 3,264
5. Foreign exchange loss 10,472
6. Other 5,354 4,547 2,332 6,579 6,544
Total other expenses 10,435 25,360 7,620 13,065 20,222
Ordinary income 308,299 387,269 116,222 246,977 378,053
VII Extraordinary loss          
1. Impairment loss 79,970
Total extraordinary loss 79,970
Income before income taxes 308,299 307,299 116,222 246,977 378,053
Income taxes–current 247,077 308,351 90,244 200,722 305,189
Income taxes–deferred 1,700 1,048 4,997 5,210 1,198
Net income (loss) 59,520 (2,100) 20,981 41,044 71,665
Net income (loss) attributable to non-controlling interests 6,111 (42,462) 4,169 7,010 9,065
Net income attributable to owners of parent 53,409 40,362 16,812 34,034 62,600

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