Saibu Gas, a Fukuoka-based utility company, reported record-breaking annual sales and net profit for the last fiscal year. The company anticipates that household gas prices may gradually decrease due to a stabilization of fuel costs. Saibu Gas announced sales of 2,663 billion yen, a 23.7% increase from the previous year, and a record net profit of 132 billion yen. Despite surging LNG prices due to Russia’s military invasion of Ukraine and the weak yen, the company improved its revenue through significant gas price hikes for households and businesses, as well as the sale of shares in the Nagasaki theme park, Huis Ten Bosch. A senior executive stated in a press conference that household gas prices may gradually decrease in the future due to the stabilization of fuel costs. Source: Saibu Gas / NHK
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