JXTG expects to see 300 bil. yen loss in FY 2019 as oil price falls

Kyodo News 2020年3月26日 14時50分
Japan's largest oil wholesaler JXTG Holdings Inc. downgraded Thursday its earnings forecast for the year through the end of this month, expecting to fall into the red with a 300 billion yen ($2.7 billion) loss due to a decline in oil prices.JXTG, which had expected a net profit of 155 billion yen in November, also cited falling global demand due to the expansion of the new coronavirus in slashing the estimate. It also cut its sales projection to 10.05 trillion yen from 10.40 trillion yen.It said prices of Dubai crude oil, which were at around $64 per barrel in January, dropped to around $30 in...