Code No. 1662
June 2, 2009
Osamu Watanabe, President
Japan Petroleum Exploration Co., Ltd. (JAPEX)
1-7-12 Marunouchi, Chiyoda-ku, Tokyo
To All Shareholders:

Notification of the Convocation to
the 39th Ordinary General Meeting of the Shareholders
The 39th Ordinary General Meeting of the Shareholders of Japan Petroleum Exploration Co., Ltd. (hereinafterreferred to as the “JAPEX”) will be held according to the details below, and we kindly ask for your attendance.
If you cannot attend on the day of the meeting, you may exercise your voting rights through a written document.
Please review the “Reference Document for Shareholders Meeting” described below, and express your vote on theenclosed Voting Right Exercise Form. When sending the Voting Right Exercise Form, please send so it will arriveat our office by Tuesday, June 23, 2009.
Thank you very much for your attention and cooperation.
Details:
1. Date and Time:
2. Location:
3. Agenda:
Announcements:

10:00 a.m., June 24, 2009 (Wednesday)
Tokyo Station Conference “Sapia Hall” (Sapia Tower 5F)
1-7-12 Marunouchi, Chiyoda-ku, Tokyo
1) Business report and consolidated financial report of the 39th Term (from April 1,2008 to March 31, 2009), and audit reports from the accounting auditor and Board of
Corporate Auditors on the consolidated financial report2) Financial report of the 39th Term (from April 1, 2008 to March 31, 2009)

Resolution items:
Item 1:
Appropriation of Surplus
Item 2:
Amendments to the Articles of Incorporation
Item 3:
Election of Sixteen (16) Directors
Item 4:
Election of two (2) Corporate Auditors
Item 5:
Awarding Retirement Benefits to Retiring Corporate Auditors
Item 6:
Payment of Bonuses to Directors and Corporate Auditors*Upon on your arrival at the Ordinary General Meeting of Shareholders, please submit the enclosed Voting Rights
Exercise Form to the venue reception. Thank you.
*In case the Reference Document for Shareholders Meeting, or business report, financial report or consolidated
financial report is modified, such modification shall be posted on the JAPEX website. (http://www.japex.co.jp/)
NOTE: This document is an abridged translation of the Japanese “Notification of the Convocation to the 39th
Ordinary General Meeting of the Shareholders” “Reference Documents for Shareholders Meeting” and“Financial Report” of JAPEX. This translation is intended for reference and convenience purposes only. In theevent of any discrepancy between this translation and the Japanese original, the original shall prevail. JAPEX
does not guarantee the accuracy and/or the completeness of this translation and shall have no liability for any
errors or omissions therein.

1

Reference Documents for Shareholders Meeting
Item 1: Appropriation of Surplus
1. Details concerning the Year-end Dividends
JAPEX employs the basic policy of long-term, stable distribution of dividends in considering the retained
earnings for investment in new oil and gas reserves and the development of transportation systems, including
pipelines, as well as respecting the return of profits to our shareholders.
The 39th term dividends will be as follows:(1) Type of dividend property: Money(2) Distribution and total amount of dividend property:
20 yen per share of common stock
Total amount of dividends:

1,143,059,860 yen(3) Effective date of distribution of surplus: June 25, 2009
2. Other Appropriations of Surplus(1) Item and amount of reduced surplus:
Retained earnings brought forward: 15,000,000,000 yen(2) Item and amount of increased surplus:
General reserve: 15,000,000,000 yen
Item 2: Amendments to the Articles of Incorporation
1. Reasons for the Amendment
All stocks of JAPEX have become subject to Book-Entry Transfer System for Stocks, etc. (Electronic Share
Certificates System) with the enforcement of the Act for Partial Revision of the Act on Transfer of Corporate
Bonds, etc. for Streamlining Settlement Concerning Stock Trading, etc.” (Act No. 88 of 2004; hereinafterreferred to as the “Act for Streamlining Settlement of Stocks, etc.”) on January 5, 2009. Accordingly, JAPEX
proposes to revise the existing Articles of Incorporation as follows:(1) It is deemed resolved that the provision in the existing Articles of Incorporation to the effect that sharecertificates of JAPEX are issued was abolished on the date on which said Act was enforced. Therefore,
JAPEX proposes to delete that provision, as well as provisions concerning share certificates in respect ofPart Holdings and words referring to the register of lost share certificates. (Article 8, Paragraph 2 of Article
9, Paragraph 3 of Article 11, and Article 12 of the existing Articles of Incorporation)(2) With the abolition of “Act on Custody and Transfer of Share Certificate, etc.” (Act No. 30 of 1984”),
JAPEX proposes to delete words referring to “beneficial shareholders” and “the register of beneficial
shareholders”. (Article 10, and Paragraph 3 of Article 11 of the existing Articles of Incorporation)(3) In line with the deletion of Article 8 of the existing Articles of Incorporation as described in (1) above, thenumbers of relevant articles from Article 9 shall be appropriately adjusted.

22. Content of Amendments
The suggested amendments are described in the following comparison chart.
(differing parts are underlined)
Suggested Amendments

Current Articles of Incorporation(Issue of Share Certificates)
Article 8. The Company shall issue share certificatesin respect of shares.

(deleted)(Number of Shares Constituting One Unit (tangen) of (Number of Shares Constituting One Unit (tangen) of
Stock and non-issue of share certificates in respect ofStock)Part Holdings)
Article 9. (skipped)
Article 8. (same as current)
2) Notwithstanding the provisions of the previous(deleted)
Article, the Company is entitled not to issue sharecertificates in respect of holdings that constitute lessthan one tangen (part-holdings).
(Rights of Part Holdings)(Rights of Part Holdings)
Article 9. In respect of part holdings, company
Article 10. In respect of part holdings, company
shareholders (which shall be deemed to include
shareholders shall be unable to exercise any rights
beneficial shareholders) shall be unable to exercise
other than those set out below:
any rights other than those set out below:(1) to (2) (skipped)(1) to (2) (same as current)(Share Register Administrator)(Share Register Administrator)
Article 11. (1) to (2) (skipped)
Article 10. (1) to (2) (same as current)
3) The Company shall delegate to the share register
3) The Company shall delegate to the share register
administrator the production and keeping of theadministrator the production and keeping of theCompany's register of shareholders (which shallCompany's register of shareholders and the registerof options in future share issues, and theinclude the register of beneficial shareholders), theadministration of other shareholder registers and theregister of lost share certificates and the register ofregister of options in future share issues. The
options in future share issues, and thecompany itself shall not handle these matters.
administration of other shareholder registers, theregister of lost share certificates and the register of
options in future share issues. The company itself
shall not handle these matters.
(Share Handling Regulations)

Article 12. The denomination of share certificatesissued by the Company, and annotation andrecording in the shareholder register, register of lost
share certificates and register of options in future
share issues; arrangements and fees relating to thepurchase of minor holdings, and other mattersrelating to shares and options in future share issues
shall, other than as prescribed by law and theCompany's Articles of Incorporation, be determinedby the share handling regulations adopted by the
Board of Directors.

(Share Handling Regulations)
Article 11. The annotation and recording in theshareholder register and register of options in future
share issues; arrangements and fees relating to thepurchase of minor holdings, and other mattersrelating to shares and options in future share issues
shall, other than as prescribed by law and theCompany's Articles of Incorporation, be determinedby the share handling regulations adopted by the
Board of Directors.

Article 12. (Takeover Defense Measure) to
Article 43. (Statute of Limitation for Dividend
Payments)(same as current)

Article 13. (Takeover Defense Measure) to
Article 44.(Statute of Limitation for Dividend
Payments)(skipped)3

Item 3: Election of Sixteen (16) Directors
Upon closing of this general meeting of shareholders, the term of office of all sixteen (16) Directors of theBoard (Yuji Tanahashi, Osamu Watanabe, Katsuo Suzuki, Norihiko Sawara, Tadatsuna Koda, Hiroshi Sato,
Yoichi Ohta, Nobuzo Ichikawa, Masaki Hattori, Shoichi Ishii, ChikaoYoshida, Toshio Ibi, Mitsuru Saito,
Junichi Matsumoto, Nobuyuki Ogura, Kazuo Kawakami) will expire. We kindly ask our shareholder to electsixteen (16) new Directors.
The candidates for the Directors are as listed below:
Candidate
Name
Brief history, Position and responsibilities in JAPEX or
JAPEX shares
No.
(Date of birth)
representations in other corporations
owned
Joined The Ministry of International Trade
April 1958
and Industry (hereinafter referred to as the“MITI”)
Vice Minister of International Trade andJune 1991
Industry
Chairman at New Energy Foundation
Aug. 1997
Yuji Tanahashi
President at JAPEX Offshore, Ltd.
7,000 shares
1
June 2001(October 13, 1934)(up to the present date)President at JAPEX
June 2001
Chairman at Canada Oil Sands Co., Ltd.
Jan. 2007(up to the present date)
Chairman at JAPEX
June 2008(up to the present date)
April 1964
Joined MITI
July 1997
Vice Minister of International Trade andIndustry
Osamu Watanabe July 2002
Chairman at Japan External Trade2
3,100 shares(December 6, 1940)
Organization
June 2007
Executive Vice President at JAPEX
June 2008
President(up to the present date)
Joined JAPEX
April 1969
General Manager of International Oil & Gas
June 1996
Division, Second Project Dept.
General Manager of International Oil & Gas
April 2001
Division and General Manager of Middle
East Project Dept.
Director, General Manager of International
June 2002
Oil & Gas Division and General Manager ofMiddle East Project Dept.
Director, Assistant President of
Katsuo Suzuki
Feb. 2005
2,400 shares
3International Oil & Gas Division(April 26, 1945)
Managing Director, Assistant President ofJune 2005
International Oil & Gas Division
Managing Director, President ofJune 2006
International Oil & Gas Division
Senior Managing Director, President ofOct. 2006
International Oil & Gas Division
Executive Vice President, President ofJune 2007
International Oil & Gas Division(up to the present date)4

Candidate
No.

4

5

6

7

Name
(Date of birth)

Brief history, Position and responsibilities in JAPEX or
representations in other corporations
Joined JAPEXOct. 1967
General Manager of Nagaoka Division
Oct. 2003
OfficeDirector, General Manager of Nagaoka
June 2004
Division Office
Managing Director, President ofJune 2005
Exploration Division
Norihiko Sawara
Senior Managing Director, President ofOct. 2006(November 28, 1944)
Exploration Division
President at JAPEX Libya Ltd.
Jan. 2007(up to the present date)President at JAPEX Buton Ltd.
June 2007(up to the present date)
Executive Vice President at JAPEX
June 2008(up to the present date)
Joined MITI
April 1967
Deputy Director-General at MITI
July 1994
Ambassador Extraordinary andOct. 1995
Plenipotentiary of Oman
Director at Electric Power Development
July 1998
Co., Ltd.
Managing Director at JAPEX
Tadatsuna Koda
June 2001
Managing Director, General Manager of(December 24, 1944) June 2005
Marketing & Sales Division
Managing Director, President of Marketing
May 2006& Sales Division
Senior Managing Director, President ofOct. 2006
Marketing & Sales Division(up to the present date)
April 1970
Joined JAPEX
June 1999
General Manager of Finance &Accounting Dept.
June 2002
Director, General Manager of Finance &Hiroshi Sato
Accounting Dept.
(January 22, 1947)
June 2005
Managing Executive Officer
June 2006
Managing Director
June 2007
Senior Managing Director(up to the present date)
Joined JAPEX
April 1974
General Manager of Exploration
June 2003
Technology Dept., Exploration Division
Executive Officer, General Manager ofJune 2005
Exploration Technology Dept.,
Exploration Division
Executive Officer, General Manager ofApril 2006
Exploration Technology Dept.,
Yoichi Ohta
Exploration Division and General(October 14, 1948)
Manager of Information Technology Dept.
Managing Executive Officer, General
June 2006
Manager of Information Technology Dept.
Managing Director, General Manager ofJune 2007
Exploration Division
Senior Managing Director, President ofJune 2008
Exploration Division(up to the present date)

5

JAPEX shares
owned

1,400 shares

2,200 shares

1,800 shares

1,200 shares

Candidate
No.

Name
(Date of birth)

8

Nobuzo Ichikawa(July 20, 1949)

9

Masaki Hattori(July 21, 1948)

10

Shoichi Ishii(September 23,
1949)

11

Chikao Yoshida(January 21, 1948)

Brief history, Position and responsibilities in JAPEX or
representations in other corporations
Joined JAPEX
April 1972
General Manager of Marketing & Sales
June 1999
Dept. I, Marketing & Sales Division
General Manager of Sakhalin Project
Dec. 2001
Dept.
Director, General Manager of Sakhalin
June 2002
Project Dept.
Director, General Manager of Energy
June 2005
Supply System Dept.
Managing Executive Officer, General
June 2005
Manager of Energy Supply System Dept.
Managing Executive Officer, General
April 2006
Manager of Energy Supply System Dept.,
and East Japan Pipeline Project Dept.
Managing Director, General Manager ofJune 2006
Energy Supply System Dept., and East
Japan Pipeline Project Dept.
Managing Director
April 2007
(up to the present date)
Joined JAPEX
April 1973
General Manager of Exploration Dept. I,
June 1999
Exploration Division,
Director, General Manager of Exploration
June 2003
DivisionManaging Executive Officer, General
June 2005
Manager of Exploration Division
Managing Director, General Manager ofJune 2006
Exploration Division
President at JAPEX Pipeline Ltd.
June 2007(up to the present date)
Managing Director, General Manager ofJune 2007
Nagaoka Division Office at JAPEX(up to the present date)
April 1973
Joined JAPEX
June 1999
General Manager of Corporate Planning
Dept.
June 2003
Director, General Manager of Corporate
Planning Dept.
June 2005
Managing Executive Officer, General
Manager of Nagaoka Division Office
June 2006
Managing Director, General Manager ofNagaoka Division Office
June 2007
Managing Director(up to the present date)
April 1975
Joined JAPEX
April 2003
General Manager of Development
Division, Engineering Dept.
June 2004
Director, General Manager ofDevelopment Division
June 2005
Managing Executive Officer, General
Manager of Development Division
June 2006
Managing Director, President ofDevelopment Division(up to the present date)

6

JAPEX shares
owned

2,000 shares

2,000 shares

1,500 shares

3,500 shares

Candidate
No.

Name
(Date of birth)12

Toshio Ibi(March 4, 1949)

13

Mitsuru Saito(June 19, 1950)

14

Junichi Matsumoto(September 27,
1949)

15

Nobuyuki Ogura(May 14, 1952)

Brief history, Position and responsibilities in JAPEX or
representations in other corporations
Joined MITIMay 1972
Director-General for Technology Policy
Jan. 2001
Coordination at MITI
Advisor at JAPEX
Sep. 2004
Executive Officer
June 2005
Executive Officer, General Manager ofJan. 2006
Sapporo Division Office
Managing Executive Officer, General
June 2006
Manager of Sapporo Division Office
Managing Director, General Manager ofJune 2007
Sapporo Division Office
Managing Director, General Manager ofNov. 2008
International Oil & Gas Division (up to thepresent date)President at Universe Gas & Oil Company
Mar. 2009Inc.
(up to the present date)
April 1973
Joined JAPEX
June 1999
General Manager of Administration Dept.
June 2003
General Manager of Personnel Dept.
June 2005
Executive Officer, General Manager of
Personnel Dept.
June 2006
Managing Executive Officer
June 2007
Managing Director(up to the present date)
April 1973
Joined JAPEX
June 2006
Executive Officer
June 2007
Managing Executive Officer, General
Manager of Development Division
June 2008
Managing Director, General Manager ofDevelopment Division
April 2009Managing Director(up to the present date)
April 2009
President at Kangean Energy Indonesia
Ltd.
(up to the present date)
April 1975
Joined JAPEX
April 2001
General Manager of Overseas Exploration
Dept. II, Exploration Division
April 2003
General Manager of Overseas Exploration
Dept., Exploration Division
June 2006
Executive Officer
June 2008
Managing Director, General Manager ofExploration Division(up to the present date)

7

JAPEX shares
owned

1,700 shares

1,500 shares

500 shares

900 shares

Candidate
No.

Name
(Date of birth)

16

Kazuo Kawakami(April 26, 1933)

Brief history, Position and responsibilities in JAPEX or
representations in other corporations
April 1958
Appointed prosecutor
Jan. 1983
Head of Special Investigation Force, The
Tokyo District Public Prosecutors Office
Sep. 1989
Chief of Trial Proceedings, Supreme
Public Prosecutors’ Office
May 1991
Recorded attorney (Daiichi Tokyo Bar
Association)(up to the present date)June 2007
Director at JAPEX(up to the present date)

JAPEX shares
owned

1,000 shares(Note) 1. Junichi Matsumoto, a candidate, is concurrently serving as the President of Kangean Energy Indonesia Ltd., towhich JAPEX is lending funds.
No significant interest-based relationship exists between other candidates for Directors and JAPEX.
2. Kazuo Kawakami is a candidate for Outside Director.
3. While having no experience of being directly involved in corporate management, Kazuo Kawakami is judged to bequalified to be an Outside Director and appointed as a candidate for that post in the hope that he will enable further
appropriate execution of our business by supervising our management and making extensive proposals on the basisof knowledge and experience as a legal expert. JAPEX had entered a legal advisory contract with him and paid
advisory fee to him based on said contract during the period from November 2003 to June 2007. At the end of thisgeneral meeting of shareholders, Kazuo Kawakami will have served as Outside Director of JAPEX for two (2)years.

Item 4: Election of two (2) Corporate Auditors
Upon closing of this general meeting of shareholders, the term of office of Mr. Kiyoshi Wazumi and Mr.
Tsutomu Sugiura, our Corporate Auditors, will expire. We kindly ask our shareholders to elect two (2) new
Corporate Auditors.
The candidates for Corporate Auditors are as listed below:
The Board of Corporate Auditors consented to this proposal.
Candidate
Name
Brief history, Position and responsibilities in JAPEX or
JAPEX shares
No.
(Date of birth)
representations in other corporations
owned
May 1972
Joined JAPEX
June 2002
General Manager of Development Dept. III,
Development Division
Ken Fujii
April 2003
General Manager of Operations Dept.,11,500 shares(October 24, 1948)
Development Division
June 2005
Executive Officer
June 2007
Managing Executive Officer(up to the present date)
April 1976
Joined JAPEX
June 2002
Senior Manager of Controlling Group，Morio Ishizeki
2
Finance & Accounting Dept.
(February 28, 1953)
June 2005
Director at JAPEX SKS Corporation(up to the present date)(Note) No significant interest-based relationship exists between candidates for Corporate Auditors and JAPEX.

Item 5: Awarding Retirement Benefits to Retiring Corporate Auditors
Upon closing of this general meeting of shareholders, Corporate Auditor Kiyoshi Wazumi and Tsutomu
Sugiura will retire from the position.
Therefore, retirement benefits shall be awarded according to the standards specified by JAPEX inrecognition of services during their tenure. We kindly ask our shareholders to allow deliberation by Corporate
8

Auditors with regard to the specific amount, period and method of awarding, etc.
Their brief histories are as follows:
Name
Kiyoshi Wazumi

Brief History
June 2005

Full-time Corporate Auditor at JAPEX (up to thepresent date)

Tsutomu Sugiura

June 2005

Full-time Corporate Auditor at JAPEX (up to thepresent date)

Item 6: Payment of Bonuses to Directors and Corporate Auditors
A total amount of bonus of 78,300,000 yen (74,234,000 yen to Directors, 4,066,000 yen to Corporate
Auditors) will be paid to seventeen (17) Directors (including one (1) Outside Director) and four (4) Corporate
Auditors tenured during the fiscal year ended March 31, 2009, in view of the traditionally paid bonus amounts
and the performance of the fiscal year ended March 31, 2009.

9

Consolidated Balance Sheets(As of March 31, 2009)(Unit: millions of yen)Accounting titles(Assets)
Current assets
Cash and deposits
Notes and accounts receivable-trade
Short-term investment securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
Other
Allowance for doubtful accounts

Amount97,12027,702
17,05011,510
4,255
553
6,200
1,315
28,543(12)Noncurrent assets

403,324

Property, plant and equipment

142,767

Buildings and structures

52,024

Wells
Machinery, equipment and vehicles
Land
Construction in progress
Other
Intangible assets
Goodwill
Other
Investments and other assets

18,112
48,27815,338
4,790
4,223
4,392
1,063
3,328
256,164

Investment securities

241,945

Long-term loans receivable

13,432

Accounting titles(Liabilities)
Current liabilities
Notes and accounts payable-trade
Income taxes payable
Provision for directors’ bonuses
Provision for loss on disaster
Other
Noncurrent liabilities
Long-term loans payable
Deferred tax liabilities
Provision for retirement benefits
Provision for directors' retirement
benefits
Provision for cost of abandonment
Provision for loss on business of
subsidiaries and affiliates
Other
Liabilities(Net assets)
Shareholders’ equity
Capital stock
Retained earnings
Treasury stock
Valuation and translation
adjustments
Valuation difference on
available-for-sale securities

Amount24,093
6,508
392
93
188
16,90998,12325,325
60,108
5,732
559
5,725
35
635
122,216
269,778
14,288
255,499(9)
100,964
105,430

Long-term accounts
receivable-other70

Deferred gains or losses on hedges

Deferred tax assets

648

Foreign currency translation
adjustment(4,465)

5,939
(68)

Minority interests

7,484(5,803)

Net assets

378,227

500,444

Liabilities and net assets

500,444

Other
Allowance for doubtful accounts
Allowance for overseas investment
loss
Assets(Amounts truncated to millions of yen)

10

(0)

Consolidated Statements of Income
From April 1, 2008
To March 31, 2009
(Unit: millions of yen)Accounting titles
Net sales
Cost of sales
Gross profit
Exploration expenses
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Gain on sales of securities
Reversal of provision for loss on business of
subsidiaries and affiliates
Other
Non-operating expenses
Interest expense
Loss on sales of securities
Loss on valuation of securities
Provision for cost of abandonment
Foreign exchange losses
Other
Ordinary income
Extraordinary income
Reversal of allowance for doubtful accounts
Gain on sales of noncurrent assets
Subsidy
Extraordinary loss
Loss on retirement of noncurrent assets
Impairment loss
Other
Income before income taxes
Income taxes-current
Income taxes-deferred
Minority interests in income
Net income

Amount202,127
134,447
67,68015,352
32,237
20,090
1,253
5,823
490
275
1,839
494
432
1,805
2,055
1,886
740
8
0
191
2,986
2,312
152
1,879
1,686

(Amount truncated to millions of yen)

11

9,682

7,414
22,358199

5,450
17,108
3,565
981
12,560Consolidated Statement of Changes in Net Assets
From April 1, 2008
To March 31, 2009
(Unit: millions of yen)
Shareholders’ equity
Capitalstock

Balance as ofMarch 31, 2008
Changes of items
during the period
Dividends fromsurplus
Net income
Purchase oftreasury stock
Net changes of items
other thanshareholders' equity
Total changes of items
during the period
Balance as ofMarch 31, 2009

14,288Retainedearnings

Valuation and translation adjustments

Treasurystock

Minority Net assetsinterests

245,225

Total
Valuation
shareholders’ difference
equityonavailablefor-salesecurities(7)259,506
179,629(2,286)(2,286)(2,286)

12,560(2)

12,560(2)

12,560(2)

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

Totalvaluationandtranslation
adjustments

(0)

716

180,3468,373

448,226(74,199)－(5,182)(79,381)(888)(80,270)－

10,274(2)

10,272(74,199)－(5,182)(79,381)(888)(69,998)

14,288

255,499(9)269,778

105,430(0)(4,465)100,964

7,484

378,227(Amount truncated to millions of yen)

12Balance Sheets(As of March 31, 2009)(Unit: millions of yen)Accounting titles(Assets)
Current assets
Cash and deposits

AmountAccounts receivable-trade

13,533

Short-term investment securities
Merchandise and finished goods
Raw materials and supplies
Advance payments-trade
Prepaid expenses
Deferred tax assets
Accrued income
Short-term loans receivable
Short-term loans receivable tosubsidiaries and affiliates
Accounts receivable-other
Advances paid
Other
Noncurrent assets
Property, plant and equipment

5,568
4,159
4,953
0
401
1,104
36
20,46665,2297,194

Accounting titles(Liabilities)
Current liabilities
Accounts payable-trade
Current portion of long-term loans
payableLease obligations
Accounts payable-otherAccrued expenses
Income taxes payable
Deposits received
Provision for directors’ bonuses
Provision for loss on disaster
Other

AmountNoncurrent liabilities
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for retirement benefits
Provision for directors' retirement
benefits
Provision for cost of abandonment
Other

95,71825,32529
60,001
5,038
513

Liabilities

115,559

19,840
5,768
2,278
8
5,464
5,869
10
173
78
188
1

715
1,139
1,037
4,918
401,321122,527

Buildings

9,384

Structures
Wells
Machinery and equipment
Vessels
VehiclesTools, furniture and fixtures
Land
Lease assets
Construction in progress
Wells in progress
Intangible assets
Leasehold right
SoftwareOther

37,302
15,89039,3150
13
2,740
12,801
37
4,594
445
1,246
178
1,038
29

Investment and other assets

277,547

Investment securities
Stocks of subsidiaries and affiliates
Long-term loans receivable
Long-term loans receivable fromsubsidiaries and affiliates
Long-term prepaid expenses

202,703
72,455975(Net assets)
Shareholders’ equity
Capital stock
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for overseas investment loss
Reserve for mine prospecting
Reserve for special depreciation
Reserve for advanced depreciation of
noncurrent assets
Reserve for exploration
General reserve
Retained earnings brought forward

17,582

Treasury stock

1,585

Valuation and translation adjustments
Valuation difference on
available-for-sale securities

105,684
105,684(20,515)

Net assets

350,991

466,550

Liabilities and net assets

466,550

Other
Allowance for doubtful accounts
Allowance for overseas investment
loss
Assets

2,794

4,462
348

245,307
14,288231,027
3,572
227,455
399
16,94872
283
47,246
141,600
20,904(9)(33)(Amount truncated to millions of yen)13

Statements of Income
From April 1, 2008
To March 31, 2009
(Unit: millions of yen)Accounting titles
Net sales
Cost of sales
Gross profit
Exploration expenses
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Interest on securities
Dividends income
Other
Non-operating expenses
Interest expense
Loss on valuation of securities
Provision for overseas investment loss
Provision for cost of abandonment
Foreign exchange losses
Other
Ordinary income
Extraordinary income
Gain on sales of noncurrent assets
Subsidy
Extraordinary loss
Loss on retirement of noncurrent assets
Loss on sales of noncurrent assets
Impairment loss
Income before income taxes
Income taxes-current
Income taxes-deferred
Net income

Amount157,818
112,743
45,075
8,007
24,02913,037928
182
13,909
1,870
493
292
31
1,797
1,223
644
0
191
3,037
0
2,432
(32)
1,628

(Amount truncated to millions of yen)

14

16,891

4,483
25,445191

5,469
20,167
1,595
18,571

Statement of Changes in Net Assets
From April 1, 2008
To March 31, 2009
(Unit: millions of yen)

Balance as of March 31, 2008
14,288Changes of items during
the period
Provision of reserve formine prospecting
Reversal of reserve formine prospecting
Reversal of reserve for
special depreciation
Reversal of reserve foradvanced depreciation of
noncurrent assets
Provision of general reserve
Dividends from surplus
Net income
Purchase of treasury stock
Net changes of items other thanshareholders' equity
Total changes of items during－
the period
Balance as of March 31, 2009
14,2883,572

399 17,800

96295 47,246 131,600

Total shareholders’ equity

Treasury stock－－(6,151)

6,151

－

－

24

－

－

11

－

－

10,000 (10,000)－(2,286) (2,286)
18,571 18,571－(2,286)
18,571
(2)
(2)

(851)

(24)

(11)

－ 10,000

7,172 16,285(2) 16,283

399 16,948

72

283 47,246 141,600

20,904 231,027(9) 245,307－

Valuation and translation adjustments

Balance as of March 31, 2008
Changes of items during
the period
Provision of reserve formine prospecting
Reversal of reserve formine prospecting
Reversal of reserve for
special depreciation
Reversal of reserve foradvanced depreciation of
noncurrent assets
Provision of general reserve
Dividends from surplus
Net income
Purchase of treasury stock
Net changes of items other thanshareholders' equity
Total changes of items during
the period
Balance as of March 31, 2009(7) 229,023(5,300)

(11)

3,572

13,732 214,742

5,300

(24)

－

Total retained earnings

Retained earnings brought
forwardGeneral reserve

Reserve for advanced
depreciation of noncurrent
assetsReserve for exploration

Reserve for special
depreciation

Reserve for mineprospecting

Reserve for overseas
investment loss

Legal retained earnings

Capital Stock

Shareholders’ equity
Retained earnings
Other retained earnings

Valuation
Total valuationdifference on Deferred gains or
and translation
available-for-sale losses on hedges
adjustments
securities
179,791
179,791－

Net assets
408,814－－－－(74,107)－(74,107)－(2,286)
18,571(2)(74,107)(74,107)－(74,107)(57,823)

105,684－

105,684

350,991(Amounts truncated to millions of yen)15