Industry map/Resources, Energy & Materials
Oil Refining & Fuels industry map
Who earns the money in Oil Refining & Fuels, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 20 companies · ¥21.4T
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥21.4T
- Companies
- 20
- Avg. salary（parent only）
- ¥6.9M
- Industry weather
- Cloudy
YoY -7.4%
Avg. age 43.0
Operating income +272.6%
ENEOS Holdings[5020]
Petroleum Products
- Revenue
- ¥10.3T▼5.1%
- Operating income
- ¥292.4BBack to profit
Margin 2.8%
Whole company: Revenue ¥11.8T · Net income ¥258.7B
Avg. salary ¥11.4M · 43.0（parent only）
San-Ai Obbli[8097]
Oil
- Revenue
- ¥516.4B▼7.8%
- Operating income
- ¥5.67B▼23.1%
Margin 1.1%
Whole company: Revenue ¥611.6B · Net income ¥9.2B
Avg. salary ¥8.2M · 39.9（parent only）
- ENEOS Holdings owns 1.6%
Mitsuuroko Group Holdings[8131]
Energy enterprise
- Revenue
- ¥143.6B▼6.4%
- Operating income
- ¥1.93B▼20.0%
Margin 1.3%
Whole company: Revenue ¥339.5B · Net income ¥9.2B
Avg. salary ¥10.4M · 41.0（parent only）
- ENEOS Holdings owns 4.2%
Fuji United Holdings Company[416A]
Sale Business of Oil Products + 1 more
- Revenue
- ¥70.5B
- Operating income
- ¥955M
Margin 1.4%
Whole company: Revenue ¥75.1B · Net income ¥726M
Avg. salary ¥7.7M · 44.3（parent only）
- ENEOS Holdings owns 15.2%
Misumi[7441]
Energy
- Revenue
- ¥44.9B▼5.5%
- Operating income
- ¥1.06B▲14.6%
Margin 2.4%
Whole company: Revenue ¥60B · Net income ¥839M
Avg. salary ¥4M · 42.4（parent only）
- ENEOS Holdings owns 13.7%
Nissin Shoji[7490]
Oil-related business
- Revenue
- ¥35.6B▲0.5%
- Operating income
- ¥940M▲50.3%
Margin 2.6%
Whole company: Revenue ¥39.4B · Net income ¥3.66B
Avg. salary ¥5.9M · 42.9（parent only）
- ENEOS Holdings owns 17.1%
Idemitsu Kosan[5019]
Petroleum
- Revenue
- ¥6.79T▼11.7%
- Operating income
- ¥175B▲61.5%
Margin 2.6%
Whole company: Revenue ¥8.11T · Net income ¥171.9B
Avg. salary ¥10M · 42.0（parent only）
Cosmo Energy Holdings[5021]
Petroleum business
- Revenue
- ¥2.3T▼4.9%
- Operating income
- ¥76.3B▲23.4%
Margin 3.3%
Whole company: Revenue ¥2.68T · Net income ¥74B
Avg. salary ¥11.9M · 42.0（parent only）
Itochu Enex[8133]
Car life division
- Revenue
- ¥584.7B▼7.2%
- Operating income
- ¥9.85B▼14.1%
Margin 1.7%
Whole company: Revenue ¥851.2B · Net income ¥16.1B
Avg. salary ¥10M · 41.3（parent only）
Kamei[8037]
Energy
- Revenue
- ¥279.6B▼1.1%
- Operating income
- ¥7.46B▲27.6%
Margin 2.7%
Whole company: Revenue ¥583.1B · Net income ¥11.9B
Avg. salary ¥6.8M · 40.4（parent only）
Shinanen Holdings[8132]
Solution energy business
- Revenue
- ¥204.5B▼7.2%
- Operating income
- ¥1.57B▼24.4%
Margin 0.8%
Whole company: Revenue ¥298.8B · Net income ¥4.43B
Avg. salary ¥7.6M · 44.3（parent only）
Mie Kotsu Group Holdings[3232]
Logistics
- Revenue
- ¥33.1B▲2.8%
- Operating income
- ¥777.7M▲29.0%
Margin 2.3%
Whole company: Revenue ¥110.3B · Net income ¥6.25B
Avg. salary ¥6.3M · 37.8（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: sanrin · Nippon Seiro · Takamisawa · BP Castrol · Taki Chemical · Capita · Euglena · Kyogoku unyu shoji
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | ENEOS HoldingsPetroleum Products | ¥10.3T | 48.3% | 2.8% | — | ¥363.7B |
| 2 | Idemitsu KosanPetroleum | ¥6.79T | 31.7% | 2.6% | +6.8% | ¥225.6B |
| 3 | Cosmo Energy HoldingsPetroleum business | ¥2.3T | 10.7% | 3.3% | +2.9% | ¥130.5B |
| 4 | Itochu EnexCar life division | ¥584.7B | 2.7% | 1.7% | +2.1% | — |
| 5 | San-Ai ObbliOil | ¥516.4B | 2.4% | 1.1% | — | ¥15.2B |
| 6 | KameiEnergy | ¥279.6B | 1.3% | 2.7% | +2.8% | ¥17.6B |
| 7 | Shinanen HoldingsSolution energy business | ¥204.5B | 1.0% | 0.8% | — | ¥4.61B |
| 8 | Mitsuuroko Group HoldingsEnergy enterprise | ¥143.6B | 0.7% | 1.4% | +1.0% | ¥2.76B |
| 9new | Fuji United Holdings CompanySale Business of Oil Products + 1 more | ¥70.5B | 0.3% | 1.4% | — | ¥756M |
| 10▼1 | MisumiEnergy | ¥44.9B | 0.2% | 2.4% | -1.2% | ¥366M |
| 11▼1 | Nissin ShojiOil-related business | ¥35.6B | 0.2% | 2.6% | +1.7% | -¥283.7M |
| 12▼1 | Mie Kotsu Group HoldingsLogistics | ¥33.1B | 0.2% | 2.4% | +5.4% | -¥1.01B |
| 13▼1 | sanrinEnergy business | ¥26B | 0.1% | 1.0% | -0.8% | -¥141M |
| 14▼1 | Nippon Seiro | ¥19.8B | 0.1% | 5.9% | -8.3% | ¥3.19B |
| 15▼1 | Takamisawathe oil and automotive industry | ¥18B | 0.1% | 0.8% | +6.2% | ¥591M |
| 16▼1 | BP Castrol | ¥14.7B | 0.1% | 10.6% | +7.3% | ¥780.1M |
| 17 | Taki ChemicalPetroleum | ¥1.96B | 0.0% | 0.8% | -0.0% | ¥748M |
| 18▼2 | CapitaOil | ¥1.74B | 0.0% | 5.8% | — | -¥2.09B |
| 19 | EuglenaBiofuel Business | ¥1.09B | 0.0% | -29.8% | — | ¥4.59B |
| 20▼2 | Kyogoku unyu shojiEnergy business | ¥959.8M | 0.0% | 0.3% | — | ¥807.8M |
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- Operating costs
- SG&A
- Other
- Operating profit
- BP Castrol622810
- Mie Kotsu Group Holdings919
- Taki Chemical76177
- Nippon Seiro8212
- Euglena3163
- Cosmo Energy Holdings887
- ENEOS Holdings907
- Mitsuuroko Group Holdings8610
- Itochu Enex898
- Kamei8314
- Idemitsu Kosan917
- San-Ai Obbli908
- Fuji United Holdings Company92
- sanrin7622
- Takamisawa8315
- Kyogoku unyu shoji917
- Shinanen Holdings8712
- Misumi7821
- Nissin Shoji8318loss ¥1
- Capita7032loss ¥2
Ownership links
From the major-shareholder section of annual securities reports.
- 伊藤忠商事株式会社Outside
- SubsidiaryItochu Enex55.7%
- StakeNippon Seiro9.0%
- ENEOS HoldingsIn industry
- AffiliateKyogoku unyu shoji35.0%
- StakeNissin Shoji17.1%
- StakeFuji United Holdings Company15.2%
- StakeMisumi13.7%
- StakeMitsuuroko Group Holdings4.2%
- 岩谷産業㈱Outside
- AffiliateCosmo Energy Holdings22.2%
- 近鉄グループホールディングス株式会社Outside
- StakeMie Kotsu Group Holdings14.1%
- Mitsuuroko Group HoldingsIn industry
- Stakesanrin13.9%
- リンナイ株式会社Outside
- Stakesanrin5.9%
- StakeMitsuuroko Group Holdings4.9%
- StakeShinanen Holdings3.4%
- 株式会社八十二長野銀行Outside
- Stakesanrin4.9%
- 山九株式会社Outside
- StakeNippon Seiro4.1%
- 株式会社百五銀行Outside
- StakeMie Kotsu Group Holdings4.0%
- ＴＯＹＯ ＴＩＲＥ㈱Outside
- StakeMisumi3.2%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted.
Compare the leaders side by side
All companies in Oil Refining & Fuels (by revenue)
All 20 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- ENEOS Holdings¥10.3T · 2.8%
- Idemitsu Kosan¥6.79T · 2.6%
- Cosmo Energy Holdings¥2.3T · 3.3%
- Itochu Enex¥584.7B · 1.7%
- San-Ai Obbli¥516.4B · 1.1%
- Kamei¥279.6B · 2.7%
- Shinanen Holdings¥204.5B · 0.8%
- Mitsuuroko Group Holdings¥143.6B · 1.4%
- Fuji United Holdings Company¥70.5B · 1.4%
- Misumi¥44.9B · 2.4%
- Nissin Shoji¥35.6B · 2.6%
- Mie Kotsu Group Holdings¥33.1B · 2.4%
- sanrin¥26B · 1.0%
- Nippon Seiro¥19.8B · 5.9%
- Takamisawa¥18B · 0.8%
- BP Castrol¥14.7B · 10.6%
- Taki Chemical¥1.96B · 0.8%
- Capita¥1.74B · 5.8%
- Euglena¥1.09B · -29.8%
- Kyogoku unyu shoji¥959.8M · 0.3%
Revenue · Op. margin
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