Four medium-sized city gas listed companies remain relatively strong gas sales volume, facing regulatory and protection framework has not changed, have allowed their virtual regional monopoly. R & I and the evaluation point is essentially the same, has affirmed the ratings of these companies. Rating outlook is stable.
Although the "energy" consciousness has remained since 2011 to some extent exacerbated the Great East Japan Earthquake, the relative importance of natural gas has been increasing. Such favorable factors, supported by growth in demand for natural gas is expected in the medium to long term.
Nevertheless, the institutional framework for the natural gas business, will most likely be examined, culminating in Japan's energy policy and the electricity business systems given the expected change. How to review progress in the gas business system will need attention. With the liquefied natural gas (LNG) prices, procurement of raw materials at lower costs has become increasingly important. In such cases, this four companies are a relatively heavy financial burden, due to new and additional LNG terminal and pipeline construction. To recover the investment, it is necessary to cultivate a large number of requirements.
Western Gas Co., Ltd. is Japan's sixth largest city gas company's gas sales ranked fourth, behind the three leading city gas company's customer number and length of the pipe. It is mainly in the northern Kyushu region's major cities such as Fukuoka, Kitakyushu, Nagasaki, Sasebo, Kumamoto. With its geographically dispersed services, sales efficiency is slightly lower, the cost is relatively high. The percentage of profitable domestic gas.
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