Inpex – Upside Remains After Revised Guidance

Inpex (1605 JP) - Earnings, Forecasts and a BIGLY Buyback

Ichthys Takes Inpex One-Step Closer to the Oil Majors

Inpex Already Double the Budget for the Ichthys Project - Can It Be Higher?

Inpex Guided to Lower Earnings Compared to Consensus Amidst Conservative Demand

Global Oil Prices & Asia - Too Early to Start Fretting

Equity Analyst, LightStream Research

Nuzran Sahib

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
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Equity Bottom-Up

<ul class="">
<li>Inpex's revenue decline sharply amidst low sales volume in LNG and crude oil in the Asia region.</li>
<li>The company also revised its revenue forecast upwards from its initial conservative guidance at the beginning of FY03/19. </li>
<li>The Ichthys project has commenced operations and the company expects deliveries to start from the beginning of the third quarter. The project's contribution to  FY19 Net Income has been revised due to the delays in completion.</li>
<li>We expect RoE to improve and the share to trade at a P/BV of around 0.8x-1x, similar to the three-year period before oil prices peaked in 2014.</li>
</ul>


Inpex's revenue decline sharply amidst low sales volume in LNG and crude oil in the Asia region.
The company also revised its revenue forecast upwards from its initial conservative guidance at the beginning of FY03/19. 
The Ichthys project has commenced operations and the company expects deliveries to start from the beginning of the third quarter. The project's contribution to  FY19 Net Income has been revised due to the delays in completion.
We expect RoE to improve and the share to trade at a P/BV of around 0.8x-1x, similar to the three-year period before oil prices peaked in 2014.


Inpex: Guidance Revised on Revenue and OP - No Change to Earnings

Inpex Corp

Inpex: Guidance Revised on Revenue and OP - No Change to Earnings