Annual Report 2013
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Please tell us more about your plans for extensive rationalization, the second program, focusingmainly on the Supply Division.Outline of the Rationalization PlanFY2017 (vs. FY2012) Major ProgramsOil Refi ning Department -12.6 billion yen Effect of closing the Sakaide Refi nery, reductions in repair costs, etc.Staff-related Costs -3.3 billion yen Staff downsizing, etc.Controllable Costs -1.7 billion yen Review of general and administrative expenses, etc.Other -5.0 billion yen Integration and realignment of logistics stations, etc.Total: -22.7 billion yen Positive impact on ordinary income for FY2017 is estimated at 23 billion yenQ.07A central program of our rationalization plan and the review of our supply structure is the proposed proactiveclosure of the Sakaide Refi nery in July 2013. In addition to the direct benefi t of a cutback in fi xed expenses,reducing the number of refi neries from four to three is expected to help maintain a high operating ratio and keepour refi nery network more competitive. Rationalization will extend across all areas, including personnel, with plansto curtail fi xed costs by approximately 20% over the next fi ve years. We will also take up the challenge of selectinga variety of crude oils in our procurement endeavors. By using heavy crude oil in the refi ning process, we will workto lower procurement costs.Through these means, the positive impact on ordinary income for fi scal 2017 is estimated at around?23 billion compared with fi scal 2012.A.07

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