NISSIN SHOJI CO., LTD.
7490・Standard Market・Wholesale Trade
Petroleum-Related Business
Core business underpinning Nissin Corporation's earnings base, primarily driven by sales of fuel oil and lubricant oil.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment Sales | ¥35,619 million | ¥35,428 million | — |
| Segment Profit | ¥940 million | ¥625 million | ↑ |
| Segment Assets | ¥18,528 million | ¥21,186 million | ↓ |
| Depreciation and Amortization | ¥134 million | ¥126 million | ↑ |
| Increase in Tangible and Intangible Fixed Assets | ¥132 million | ¥515 million | ↓ |
| Impairment Loss | ¥29 million | ¥25 million | ↑ |
Business Details
Supplied with petroleum products by ENEOS, this segment operates directly operated SS (53 stores) and spans multiple divisions including wholesale, direct demand, industrial materials, and LP gas. It provides fuel oils such as gasoline, kerosene, diesel, and heavy oil, as well as lubricant oil, petrochemical products, LP gas, and SS-related car care services. Its main targets are domestic corporate and individual customers, and it also operates an overseas subsidiary (Malaysia). This core segment accounts for approximately 90% of consolidated Group sales.
Recent Overview
The directly operated and direct-demand divisions performed steadily, and segment profit improved significantly, up 50.3% year on year.
In the Petroleum-Related Business for FY2026 (ending March 2026), the number of directly operated SS increased to 53, and increased car care revenue such as vehicle inspections along with an increase in corporate lubricant oil sales volume boosted profit, resulting in segment profit of ¥940 million (up 50.3% year on year), a significant improvement. The Industrial Materials division also performed well, up 22.3% year on year on increased sales of agriculture-related products. On the other hand, the Wholesale division declined 7.8% due to the impact of dealer-operated SS closures, and the LP Gas division also declined 8.0% due to a decline in import prices. Although fuel oil selling prices fell due to the abolition of the former provisional tax rate, sales revenue was maintained at roughly the same level as the prior period thanks to an increase in sales volume.
Key Products
Growth Drivers
- Strengthening directly operated SS operations: improved profitability through expanded car care (vehicle inspections, etc.) revenue
- Expansion of the corporate direct-demand division: profit contribution from increased lubricant oil sales volume
- Growth of the Industrial Materials division: increased sales of agriculture-related products (up 22.3% year on year)
- Expansion of directly operated SS store count: increased by 1 store from the prior fiscal year-end to 53 SS
- Increased fuel oil sales volume effect resulting from the abolition of the former provisional tax rate
Risks
- Structural decline in domestic petroleum product demand due to the spread of electrified vehicles (HVs and EVs)
- Risk of rising procurement costs due to crude oil price fluctuations and foreign exchange (yen depreciation)
- Compression of fuel oil sales margins (decline in selling prices due to abolition of the former provisional tax rate)
- Decrease in wholesale division sales volume due to closures of dealer-operated SS
- Uncertainty in the global economy due to US trade policy and geopolitical risks (e.g., escalating tensions in the Middle East)
- Long-term decline in demand due to Japan's declining population and changing market structure
- Risk of price volatility due to the gradual phase-out of fuel oil price mitigation measures (subsidies)
- Risk of drastic changes in the business environment due to deteriorating sales margins, etc. (impairment losses have been recorded)
Last updated: June 29, 2026