Nippon Oil lubricated by zaiteku profits

1987 – Year of the shrinking market?

Mamoru Sugiyama, general manager of the accounting department at Nippon Oil, Japan’s largest oil refiner and distributor, has an open fund-raising brief.

“In principle, Nippon Oil plans to raise low-cost funds effectively whenever such an opportunity arises, in the Euromarket or in the domestic market,’ said Sugiyama. Nippon Oil is in a strong position: the company’s net financial balance (financial income less financial cost–zaiteku profits) will hit an all-time record of 15 billion for the current fiscal year to March 1987.