JAPEX To Transfer Gas Manufacturing, Sales, And Gas Pipeline Business In Hokkaido Prefecture

(RTTNews) - Japan Petroleum Exploration Co. (1662.T) said its Board has resolved to transfer its gas manufacturing, sales, and gas pipeline business in Hokkaido Prefecture to Hokkaido Electric Power Co. Exploration, development, and production business for crude oil and natural gas in Hokkaido Prefecture will continue to be operated by JAPEX. The company continues production operation at the Yufutsu Oil and Gas Field, and will supply natural gas to the transferee, HEPCO.

In connection with the business transfer, JAPEX forecasts recognizing extraordinary income in the consolidated results for the fiscal year ending March 2027. The specific amount is under review.