Note: The following report is an English translation of the Japanese-language original.

Consolidated Financial Results
for the Three Months Ended June 30, 2013
＜Supplementary Material＞
August 7, 2013

Japan Petroleum Exploration Co., Ltd.

Cautionary Statement
Any information contained herein with respect to JAPEX’s plans, estimates, strategies
and other statements that are not historical facts are forward-looking statements about
the future performance of JAPEX. Readers should be aware that actual results andevents may differ substantially from these projections due to various factors.
The provision of this document should not be construed as a solicitation for investment.
Copyright : All information contained herein is protected by copyright, and may not be
copied or reproduced without the prior consent of JAPEX.
Note: The following abbreviations are used within this document:
1H = First half (1Q-2Q)
2H = Second half (3Q-4Q)(a) = Actual result(e) = Estimate
FY = Fiscal Year (FY2014, for instance, means 12 months ending March 31, 2014)
Any inquiries about the information contained herein or other Investor Relations questions
are requested to be directed to:Investor Relations Group,Media & Investor Relations Department,
Japan Petroleum Exploration Co., Ltd.
Tokyo, JAPANTEL: +81-3-6268-7111

2

[foreign exchange rate: JP¥/US$]

Trends in Crude oil prices and Foreign exchange rates

Japan Crude Cocktail (JCC) Price in the first 10 days of July 2013
on a prompt report basis : US$ 104.57/bbl JP¥ 96.78/US$
3

Consolidated financial estimates for FY2014 （ Highlight ）FY2014FY2013[ Billion JP¥]1Q(a)

1Q- 2Q(a)1Q(a)

Full(a)1Q- 2Q(e)*changeFull(e)*1Q

1Q- 2Q

FullNet sales

56.4

105.9

231.060.1

99.7

232.7

3.6(6.2)

1.6

Operating income

3.6

1.7

13.9

5.5

9.3

20.7

1.8

7.5

6.8

Ordinary income

4.4

3.0

28.0

7.8

12.5

28.8

3.4

9.4

0.7

Net income

3.4(24.4)

(0.8)

5.8

9.7

21.5

2.3

34.1

22.3

US$/bbl124.11116.16114.67111.17 100.00 100.00 (12.94)

Exchange rate JP¥/US$

81.26

80.35

81.71

96.36

90.00

90.00

15.10

9.65

8.29

Bitumen price

CA$/bbl

54.22

52.02

50.71

46.52

47.25

45.87

(7.70)(4.77)(4.84)

Exchange rate JP¥/CA$

82.52

76.7787.05

92.58

90.00

90.00

10.06

13.23

2.95

JCC price(16.16) (14.67)* Regarding consolidated financial estimates, an examination of the first quarter results revealed that no changes are necessary to both
estimates of the six months and full-year released on May 10, 2013.
FY2014 vs FY2013
Point

Operating income Exploration expenses+¥ 3.9 billion

Ordinary income

 Non-operating income(expenses)-¥ 6.1 billion

Net income

 Extraordinary income(losses)+¥ 34.4billion

 Income taxes-¥ 13.4 billion+¥ 6.8 billion+¥ 0.7 billion+¥ 22.3 billion

4Actual sales of Natural gas in 1Q FY2014 ( vs FY2013 )Sales volume : Million M3
Net sales : Million ￥Natural gas:
Of which,
Domestically produced gas:

FY2013

FY2014

1Q(a)

1Q(a)

changeSales volume358

292

（65）

Net sales

15,837

15,791（46）

Sales volume260

208（52）

Sales volume of “Domestically produced gas” stated herein does not include purchased gas.
Million M3

Natural gas(supplied by gas pipeline )Sales volume （total）
Of which, domestically produced gas

Sales volume decreased by 65 million M3 (-18%) vs FY2013- Decrease in sales volume because of the decline in production volume.

5

Actual sales of Crude oil in 1Q FY2014 ( vs FY2013 )FY2013

FY2014

1Q(a)

1Q(a)

Sales volume473

460(12)

Net sales

25,077

27,4052,327

Domestically produced
crude oil:

Sales volume130

101(29)Net sales

8,292

6,887

(1,404)

Overseas subsidiary
crude oil:

Sales volume

022Net sales

30173

142

Sales volume

9787

(9)

Net sales

2,781

2,373(408)

Sales volume : Thousand KLNet sales : Million ￥Crude oil:changeBreakdown of quity oil

Bitumen:-Increase mainly in sales
price of purchased crude
oil from overseas

Oil price and Exchange rate assumptions
US$/bbl124.11111.17(12.94)

Exchange rateJP¥ / US$

81.26

96.36

15.10

Bitumen price

CA$/bbl

54.22

46.52

(7.70)

Exchange rateJP¥ / US$

82.52

92.58

10.06

JCC price

Sales volume and net sales of “Domestically produced crude oil” stated herein do not include purchased crude oil. Royalty is excluded in thenet sales and price of Bitumen.
Sales volume and net sales of “Overseas subsidiary crude oil” stated herein are amounts of Japex (U.S.) Corp., an overseas consolidated
subsidiary.

6Actual results for 1Q FY2014 ( vs FY2013 )FY2013

FY2014

1Q(a)

1Q(a)

Net sales

56,47260,107

3,634

Gross profit

15,497

15,876379

Exploration expenses

4,180

2,819

(1,360)

SG&A expenses

7,673

7,544(129)

Operating income

3,642

5,512

1,869

795

2,340

1,544

Ordinary income

4,438

7,853

3,414

Extraordinary income(losses)

(232)

(4)

227

Income taxes

659

1,827

1,168

Minority interests in income

75

153

78

3,471

5,867

2,395

[ Million ￥]Non-operating income(expenses)

Net incomeChange

7

Causes of increase(+) or decrease(-)
Gross profit
Domestic crude oil and natural gas
Overseas consolidated subsidiaries+¥1.3 billion-¥0.9 billion

Exploration expenses
Domestic exploration
Overseas exploration-¥0.2 billion+¥1.6 billion

Non-operating income (expenses)
Equity in losses of affiliates+¥0.8 billion
Foreign exchange profit or loss+¥0.8 billion