Japanese Oil Firms Eneos, Cosmo Report Lower Net Profits

Jiji Press

9:00 JST, February 16, 2023

TOKYO (Jiji Press) — Oil firms Eneos Holdings Inc. and Cosmo Energy Holdings Co. logged lower profits for the nine months ended in December as prices for petrochemical products declined amid a slowing economy in China.

Eneos saw its group net profit plunge 71.1% from a year earlier to ¥96 billion, while Cosmo’s profit dropped 22.3% to ¥62.1 billion.