Consolidated Financial Results for the Three Months ended June 30, 2016 [Japanese GAAP]
August 4, 2016
Note: The following report is an English translation of the Japanese-language original.
: INPEX CORPORATION
Stock Exchange on which the Company is listed : Tokyo Stock Exchange: 1605
URL http://www.inpex.co.jp: Toshiaki Kitamura, President: Munehiro Hosono, General Manager, Corporate Communications Unit
TEL+81-3-5572-0233
Scheduled date of filing Quarterly Financial Report: August 10, 2016
Scheduled date of payment of cash dividends:―
Preparation of supplementary explanatory materials: Yes
Meeting of quarterly financial results presentation: No
Company name
Code number
Representative
Contact person(Amounts less than one million yen are rounded off)
1. Consolidated Financial Results for the Three Months ended June 30, 2016 (April 1, 2016-June 30, 2016)(1) Consolidated operating results(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales
For the three months ended
June 30, 2016

Operating income

Millions of Yen%

Millions of Yen%

198,136(18.9)

70,773244,292(28.4)

95,460June 30, 2015

Net income attributableto owners of parent

Ordinary income
Millions of Yen%

Millions of Yen%(25.9)

60,761(46.7)

100,973(39.8)

7,864(67.2)(48.0)

23,966(54.3)(Note): Consolidated comprehensive income: for the three months ended June 30, 2016, ¥(113,016) million; ( %)for the three months ended June 30, 2015, ¥(7,696) million; ( %)Net income pershare—basic

Net income pershare—diluted

For the three months ended
June 30, 2016

Yen
5.39

June 30, 2015

16.41

Yen

(2) Consolidated financial position

Millions of Yen

Millions of Yen

Net assets excluding non-controllinginterests as a percentage of total assets%

As of June 30, 2016

4,152,514

3,061,412

67.5

As of March 31, 2016

4,369,841

3,178,803

67.1

Total assets

Net assets(Reference): Net assets excluding non-controlling interests: as of June 30, 2016, ¥2,803,262 million
as of March 31, 2016, ¥2,932,892 million

2. Dividends
Cash dividends per share
At 1st quarter end At 2nd quarter end At 3rd quarter end
For the year ended
March 31, 2016
For the year ending
March 31, 2017
For the year ending
March 31, 2017 (forecast)

Yen

Yen

Yen

At fiscal year end

Total

Yen

Yen

9.00

9.00

18.00

9.00

9.00

18.00

(Note): 1. Changes in projected dividends for the year ending March 31, 2017 from the previous forecast: None
2. Above information of "Dividends" is regarding common stock. For information regarding Class A stock (which is not listed), please refer to
Exhibit "Dividends of Class A stock ".

3. Forecasted Consolidated Financial Results for the year ending March 31, 2017 (April 1, 2016-March 31, 2017)(Figures in % represent the changes from the previous fiscal year)

Net sales
Millions of Yen

For the six months ending
September 30, 2016
For the year ending
March 31, 2017%

Operating income

Ordinary income

Millions of Yen

Millions of Yen%

Net income
attributable toowners of parent%

Millions of Yen

Net income per
share
%

Yen

395,000 (30.3)

136,000 (44.9)

128,000 (50.5)

10,000 (78.0)

6.85

797,000 (21.1)

257,000 (34.1)

251,000 (33.0)

17,00011.64

1.3(Note): Changes in forecasted consolidated financial results for the year ending March 31, 2017 from the previous forecast: Yes

Notes(1) Significant changes in scope of consolidation: None(Changes in the specified subsidiaries during the period due to change in scope of consolidation)(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements: None(3) Changes in accounting policies, accounting estimates and restatement of corrections
1. Changes in accounting policies resulting from the revision of the accounting standards and other regulations
2. Other changes in accounting policies
3. Changes in accounting estimates
4. Restatement of corrections: None: None: Yes: None(Note): Please refer to 2.(3) Changes in accounting policies, accounting estimates and restatement of corrections on page 5 for further information.

(4) Number of shares issued (Common stock)
1. Number of shares issued at the end of the period(including treasury stock):
2. Number of treasury stock at the end of the period:
3. Average number of shares:

1,462,323,600 shares as of June 30, 2016
1,462,323,600 shares as of March 31, 2016
1,966,400 shares as of June 30, 2016
1,966,400 shares as of March 31, 2016
1,460,357,200 shares for the three months ended June 30, 2016
1,460,357,200 shares for the three months ended June 30, 2015

* Indication of quarterly review procedure implementation status
This quarterly earnings report is exempt from quarterly review procedure under the Financial Instruments and Exchange Act. The
review procedure for quarterly consolidated financial statements under the Financial Instruments and Exchange Act has not been
completed at the time of disclosure of this report.
*Explanation regarding the appropriate use of estimated consolidated financial results
The aforementioned forecasts are based on the currently available information and contain many uncertainties. The final results
might be significantly different from the aforementioned forecasts due to changes in business conditions including oil and natural gas
price levels, production and sales plans, project development schedules, government regulations and financial and tax schemes.
Please refer to 1.(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results on
page 4.

Exhibit:
Dividends of Class A stock
Cash dividends per share
At 1st quarter end At 2nd quarter end At 3rd quarter end
For the year ended
March 31, 2016
For the year ending
March 31, 2017
For the year ending
March 31, 2017 (forecast)At fiscal year end

Total

Yen

Yen

Yen

Yen

Yen

―

3,600.00―

3,600.00

7,200.00

3,600.00―

3,600.00

7,200.00―

Index of the Attachments
1. Qualitative Information / Financial Statements

2(1) Explanation on Consolidated Financial Results

2(2) Explanation on Consolidated Financial Position

3(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results

4

2. Notes Regarding Summary Information (Notes)

5(1) Significant changes in scope of consolidation

5(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements

5(3) Changes in accounting policies, accounting estimates and restatement of corrections

5

3. Consolidated Financial Statements

6(1) Consolidated Balance Sheet

6(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income

8

Consolidated Statement of Income

8

Consolidated Statement of Comprehensive Income

9(3) Consolidated Statement of Cash Flows

10(4) Notes to Consolidated Financial Statements

12(Conditions or events that indicate there could be substantial doubt about
the Company s ability to continue as a going concern)

12(Note on significant changes in shareholders' equity)

12(Segment information)

13(Subsequent events)

1415

4. Supplementary Information(1) Production, Orders Received and Sales Performance15

11. Qualitative Information ⁄ Financial Statements(1) Explanation on Consolidated Financial Results
Net sales for the three months ended June 30, 2016 decreased by ¥46.1 billion, or 18.9%, to ¥198.1 billion from the corresponding
period of the previous fiscal year due to a decrease in sales prices of crude oil and natural gas.
Net sales of crude oil decreased by ¥15.2 billion, or 9.9%, to ¥139.7 billion, and net sales of natural gas decreased by ¥30.1
billion, or 35.1%, to ¥55.6 billion.
Sales volume of crude oil increased by 9,814 thousand barrels, or 47.5%, to 30,476 thousand barrels. Sales volume of natural gas
decreased by 275 million cf, or 0.3%, to 81,184 million cf. Sales volume of overseas natural gas decreased by 57 million cf, or
0.1%, to 66,626 million cf, and sales volume of domestic natural gas decreased by 6 million ㎥, or 1.5%, to 390 million ㎥(14,559 million cf).
The average sales price of overseas crude oil decreased by US$20.06, or 32.4%, to US$41.76 per barrel. Meanwhile, the averagesales price of overseas natural gas decreased by US$2.60, or 34.8%, to US$4.88 per thousand cf. In addition, the average sales
price of domestic natural gas decreased by ¥11.30, or 19.6%, to ¥46.33 per ㎥. The average exchange rate of the Japanese yen
against the U.S. dollar on consolidated net sales appreciated by ¥11.54, or 9.5% , to ¥109.52 per U.S. dollar from thecorresponding period of the previous fiscal year.
The decrease of ¥46.1 billion in net sales was mainly derived from the following factors: regarding net sales of crude oil andnatural gas, an increase in sales volume contributing ¥73.6 billion to the increase, a decrease in unit sales price pushing sales downof ¥100.3 billion, the appreciation of the Japanese yen against the U.S. dollar pushing sales down of ¥18.6 billion, and a decreasein net sales excluding crude oil and natural gas of ¥0.7 billion.
Cost of sales for the three months ended June 30, 2016 decreased by ¥19.7 billion, or 15.7%, to ¥106.5 billion due mainly to theappreciation of the Japanese yen against the U.S. dollar. Exploration expenses increased by ¥0.3 billion, or 28.8%, to ¥1.3
billion due mainly to an increase in exploration activities in the Asia & Oceania region. Selling, general and administrative
expenses decreased by ¥1.9 billion, or 9.2%, to ¥19.5 billion. As a result, operating income decreased by ¥24.6 billion, or 25.9%,
to ¥70.7 billion.
Other income decreased by ¥13.8 billion, or 60.9%, to ¥8.8 billion due to a decrease in foreign exchange gain and others. Other
expenses increased by ¥1.6 billion, or 9.8%, to ¥18.8 billion due to an increase in foreign exchange loss and others, despite adecrease in provision for allowance for recoverable accounts under production sharing. As a result, ordinary income and income
before income taxes decreased by ¥40.2 billion, or 39.8%, to ¥60.7 billion.
Total amount of current income taxes and deferred income taxes decreased by ¥36.6 billion, or 45.0%, to ¥44.8 billion, net income
decreased by ¥3.5 billion, or 18.1%, to ¥15.9 billion, and net income attributable to non-controlling interests were ¥8.0 billion. As
a result of the above effects, net income attributable to owners of parent for the three months ended June 30, 2016 decreased by¥16.1 billion, or 67.2%, to ¥7.8 billion.
Financial results by segment are as follows:
1) JapanNet sales decreased by ¥5.4 billion, or 20.1%, to ¥21.8 billion due to a decrease in sales prices of crude oil and natural gas.
Meanwhile, operating income increased by ¥2.9 billion to ¥3.6 billion due to a decrease in exploration expenses and others.
2) Asia & Oceania
Net sales decreased by ¥37.3 billion, or 40.2%, to ¥55.4 billion due to a decrease in sales prices of crude oil and natural gas andthe appreciation of the Japanese yen against the U.S. dollar. Operating income decreased by ¥25.7 billion, or 73.9%, to ¥9.0
billion.
3) Eurasia (Europe & NIS)
Net sales decreased by ¥2.6 billion, or 14.3%, to ¥15.6 billion due to a decrease in sales price of crude oil and the appreciation of
the Japanese yen against the U.S. dollar, despite an increase in sales volume of crude oil. Operating income decreased by ¥2.2
billion, or 42.0%, to ¥3.0 billion.
4) Middle East & Africa
Net sales decreased by ¥0.6 billion, or 0.6%, to ¥103.2 billion due to a decrease in sales price of crude oil and the appreciation of
the Japanese yen against the U.S. dollar, despite an increase in sales volume of crude oil. Meanwhile, operating income increasedby ¥1.0 billion, or 1.8%, to ¥59.8 billion due to a decrease in cost of sales and others.
5) Americas
Net sales decreased by ¥84 million, or 4.0%, to ¥2.0 billion due to a decrease in sales prices of crude oil and natural gas and theappreciation of the Japanese yen against the U.S. dollar, despite an increase in sales volume of crude oil. Operating loss increasedby ¥1.0 billion, or 70.1%, to ¥2.6 billion.

2(2) Explanation on Consolidated Financial Position
Total assets as of June 30, 2016 decreased by ¥217.3 billion to ¥4,152.5 billion from ¥4,369.8 billion as of March 31, 2016.
Current assets decreased by ¥24.9 billion to ¥959.4 billion due to a decrease in cash and deposits and others. Fixed assets
decreased by ¥192.4 billion to ¥3,193.0 billion due to a decrease in investments and other assets and others.
Meanwhile, total liabilities decreased by ¥99.9 billion to ¥1,091.1 billion from ¥1,191.0 billion as of March 31, 2016. Current
liabilities decreased by ¥33.2 billion to ¥285.8 billion and long-term liabilities decreased by ¥66.6 billion to ¥805.2 billion.
Net assets decreased by ¥117.3 billion to ¥3,061.4 billion. Total shareholders' equity decreased by ¥5.2 billion to ¥2,531.6 billion.
Total accumulated other comprehensive income decreased by ¥124.3 billion to ¥271.5 billion and non-controlling interests in net
assets increased by ¥12.2 billion to ¥258.1 billion.
Cash and cash equivalents as of June 30, 2016 totaled ¥76.0 billion reflecting a net increase of ¥22.2 billion from ¥53.8 billion at
the end of the previous fiscal year.
Cash flows from operating activities, investing activities and financing activities are as follows:
1) Cash flows from operating activities
Net cash provided by operating activities increased by ¥35.5 billion to ¥45.0 billion from the corresponding period of theprevious fiscal year. This is due mainly to decreases in income taxes paid and recoverable accounts under production sharing(operating expenditures), despite a decrease in income before income taxes owing to a decrease in sales prices of crude oil andnatural gas.
2) Cash flows from investing activities
Net cash used in investing activities decreased by ¥137.6 billion to ¥2.1 billion from the corresponding period of the previous
fiscal year. This is due mainly to the lack of payments for purchases of mining rights.
3) Cash flows from financing activities
Net cash used in financing activities was ¥15.4 billion, meanwhile, net cash provided by financing activities for the previous
period was ¥21.3 billion. This is due mainly to an increase in repayments of long-term debt and a decrease in proceeds from
non-controlling interests for additional shares.

3

(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results
Forecasts for consolidated financial results for the six months ending September 30, 2016 and the year ending March 31, 2017
have been revised from the previous forecasts presented on May 12, 2016, taking into consideration the consolidated financial
results for the three months ended June 30, 2016.
Forecasts for consolidated financial results for the six months ending September 30, 2016
Net sales

Operating income

Previous Forecasts: A

389,000

118,000

Revised Forecasts: B(Millions of yen)

Net income attributable toOrdinary income
owners of parent
118,000
8,000

395,000

136,000

128,000

10,000

Increase (Decrease): B A

6,000

18,00010,0002,000

Percentage change (%)

1.5

15.3

8.5

25.0

Forecasts for consolidated financial results for the year ending March 31, 2017
Operating income

Net sales(Millions of yen)
Net income attributable toOrdinary income
owners of parent
237,000
17,000Previous Forecasts: A

808,000

238,000

Revised Forecasts: B

797,000

257,000

251,000

17,000

Increase (Decrease): B A(11,000)

19,00014,000

―

(1.4)

8.0

5.9

―

Percentage change (%)

The above forecasts are calculated based on the following assumptions:
Previous Forecasts

Revised Forecasts

Crude oil price(Brent)Full Year: US$ 45.0/bbl (Average)

1st quarter (actual): US$ 47.0/bbl
From 2nd quarter: US$ 45.0/bbl
US$ 45.5/bbl (Average)
Full Year:

Exchange rate

Full Year: ¥110.0/US$ (Average)

1st quarter (actual): ¥108.2/US$
From 2nd quarter: ¥105.0/US$¥105.8/US$ (Average)
Full Year:

Note:Crude oil prices at which the Company sells products depend on the type of crude oil, and there are also price differences between the crude oil price andBrent price. Price differences are caused by its quality and its pricing range which is affected by the market conditions. Most of the crude oil prices theCompany sells are lower than Brent price.

42. Notes Regarding Summary Information (Notes)(1) Significant changes in scope of consolidation:
None(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements:
None(3) Changes in accounting policies, accounting estimates and restatement of corrections:(Changes in accounting estimates)(Change in useful life)
The Company reviewed the period of economic estimated use of structures (pipelines) considering the progress of initiatives on
strengthening our gas supply chain defined in the "Medium- to Long-Term Vision", actual use records and others since the
Toyama Line is planned to commence operation this fiscal year. It was confirmed that they could be used longer than theirconventional useful lives, which had been based on the method prescribed in the Corporation Tax Act, and the Company haschanged their useful lives from the three months ended June 30, 2016.
As a result, compared with the conventional method, operating income, ordinary income and income before income taxes for thethree months ended June 30, 2016 increased by ¥1,361 million, respectively.

53. Consolidated Financial Statements(1) Consolidated Balance Sheet(Millions of yen)Accounts

As of March 31, 2016

As of June 30, 2016

(Assets)
Current assets
Cash and deposits

772,528

747,974

Accounts receivable-trade56,46262,827

Inventories

35,91535,778

Other

132,515

125,058

Less allowance for doubtful accounts(13,076)(12,205)

Total current assets

984,345959,433

Buildings and structures, net

124,900

184,724

Wells, net

51,257

49,829Machinery, equipment and vehicles, net

130,796

135,582

Land

19,673

19,594

1,407,490

1,308,675

18,49518,744

1,752,614

1,717,150

Goodwill

67,55865,868

Other473,912456,185

Total intangible assets

541,471522,053

Investment securities

213,730

198,904

Recoverable accounts under production sharing

727,771

721,558

Other

291,535

175,370

Less allowance for doubtful accounts(7,814)(7,196)

Less allowance for recoverable accounts under
production sharing(131,765)(132,458)

Less allowance for investments in exploration(2,046)(2,303)

1,091,410

953,876

3,385,496

3,193,080

4,369,841

4,152,514

Fixed assets
Tangible fixed assets

Construction in progress
Other, net
Total tangible fixed assets
Intangible assets

Investments and other assets

Total investments and other assets
Total fixed assets
Total assets

6

(Millions of yen)Accounts

As of March 31, 2016

As of June 30, 2016

(Liabilities)
Current liabilities
Accounts payable-trade47,351

42,614

Short-term loans

68,46865,890

Income taxes payable

42,84528,465

Provision for exploration projects

4,781

5,103

Accrued bonuses to officers

55

13

Asset retirement obligations

2,233

1,035

Other

153,390

142,761

Total current liabilities

319,127

285,883

673,098

617,806

4,737

4,369

293

306

Liability for retirement benefits

7,461

7,455

Asset retirement obligations

100,82999,821Other

85,49075,459Total long-term liabilities

871,911805,218

1,191,038

1,091,101

Common stock

290,809290,809

Capital surplus

676,273

676,273

Retained earnings

1,575,136

1,569,857

Treasury stock(5,248)(5,248)2,536,971

2,531,691

Unrealized holding gain on securities

4,958

1,007

Unrealized loss from hedging instruments(6,660)(6,066)

Translation adjustments

397,622276,629

Total accumulated other comprehensive income

395,921271,570

245,910258,149

Total net assets

3,178,803

3,061,412

Total liabilities and net assets

4,369,841

4,152,514

Long-term liabilities
Long-term debt
Provision for loss on business
Accrued special repair and maintenanceTotal liabilities(Net assets)
Shareholders' equity

Total shareholders' equity
Accumulated other comprehensive income

Non-controlling interests7(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income
Accounts(Millions of yen)
For the three months ended
June 30, 2016

For the three months ended
June 30, 2015

Net sales

244,292

198,136

Cost of sales

126,289

106,500

Gross profit

118,003

91,635

Exploration expenses

1,042

1,342

Selling, general and administrative expenses

21,50019,520Operating income

95,46070,773

Interest income

2,194

2,591

Dividend income

1,693

1,108

Foreign exchange gain

8,256

Other income

Gain on sales of fixed assets

8

1,909

Other

10,5703,275

Total other income

22,724

8,884Interest expense

1,162

1,162

Equity in losses of affiliates

1,007

221

Provision for allowance for recoverable accounts under
production sharing

13,203

687

568

34

Other expenses

Provision for exploration projects
Foreign exchange loss

15,757

Other

1,268

1,033

Total other expenses

17,21018,896

Ordinary income

100,973

60,761

Income before income taxes

100,973

60,761

Income taxes-current

75,97554,026

Income taxes-deferred

5,505(9,224)

Total income taxes

81,48044,801

Net income

19,493

15,959Net income (loss) attributable to non-controlling interests(4,473)

8,095

Net income attributable to owners of parent

23,966

7,864

8

Consolidated Statement of Comprehensive Income
Accounts

For the three months ended
June 30, 2015

Net income(Millions of yen)
For the three months ended
June 30, 2016

19,493

15,959(123)(3,937)(34,495)(122,814)7,430(2,223)(27,189)(128,976)(7,696)(113,016)

Owners of parent

13,598(116,486)

Non-controlling interests(21,294)

3,469

Other comprehensive income
Unrealized holding loss on securities
Translation adjustments
Share of other comprehensive income of associates
accounted for by the equity method
Total other comprehensive income
Comprehensive income
Total comprehensive income attributable to9(3) Consolidated Statement of Cash Flows
For the three months ended
June 30, 2015

Accounts(Millions of yen)
For the three months ended
June 30, 2016

Cash flows from operating activities
Income before income taxes

100,973

60,761

Depreciation and amortization

14,10022,172

Amortization of goodwill

1,690

1,690

Provision for allowance for recoverable accounts
under production sharing

13,559692

Provision for exploration projects

(965)

396

Other provisions

(19)

(921)

Liability for retirement benefits

40

16Interest and dividend income(3,888)(3,702)

Interest expense

1,162

1,162

Foreign exchange loss (gain)(3,820)16,560Equity in losses (earnings) of affiliates

1,007

221

(8)

(1,909)14,985

21,158(22,120)(2,919)Accounts receivable-trade(14,919)(6,428)Inventories(2,396)(1,239)Accounts payable-trade

3,968(4,209)Other(5,077)(360)

Subtotal

98,272

103,141

Interest and dividends received

10,7574,448Interest paid

(533)

(106)

(98,995)(62,397)

9,501

45,085

Loss (gain) on sales of fixed assets
Recovery of recoverable accounts under production sharing(capital expenditures)
Recoverable accounts under production sharing(operating expenditures)

Income taxes paid
Net cash provided by (used in) operating activities

10For the three months ended
June 30, 2015

Accounts(Millions of yen)
For the three months ended
June 30, 2016

Cash flows from investing activities
Payments for time deposits(43,477)(163,352)

Proceeds from time deposits

247,928

260,877

Payments for long-term time deposits(32,710)

Payments for purchases of tangible fixed assets(115,675)(80,599)

Proceeds from sales of tangible fixed assets

16

2,996

Payments for purchases of intangible assets(5,553)(5,951)

Proceeds from sales and redemptions of marketable securities

49,961

Payments for purchases of investment securities(6,400)

Proceeds from sales and redemptions of investment securities

9,934

Investment in recoverable accounts under production sharing(capital expenditures)(16,413)(12,813)

66

1,102

(96,143)(2,304)

Collection of long-term loans receivable

178

115

Payments for purchases of mining rights(132,278)

Decrease (increase) in short-term loans receivable
Long-term loans madeOther
Net cash provided by (used in) investing activities

(142)

737

(2,077)(139,829)(2,150)74(3)Cash flows from financing activities
Increase (decrease) in short-term loans
Proceeds from long-term debt

50

Repayments of long-term debt

(9,695)(13,570)

Proceeds from non-controlling interests for additional shares

41,647

8,769

Cash dividends paid

(10,653)(10,651)(9)(9)

21,364(15,414)(1,260)(5,312)

Net increase (decrease) in cash and cash equivalents(110,224)

22,208Cash and cash equivalents at beginning of the period

260,978

53,813

Cash and cash equivalents at end of the period

150,753

76,021Other
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents11(4) Notes to Consolidated Financial Statements(Conditions or events that indicate there could be substantial doubt about the Company's ability to continue as a going concern)
For the three months ended June 30, 2016 (April 1, 2016 through June 30, 2016):
None(Note on significant changes in shareholders' equity)
For the three months ended June 30, 2016 (April 1, 2016 through June 30, 2016):
None

12

(Segment information)
I. For the three months ended June 30, 2015 (April 1, 2015 through June 30, 2015)
1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Adjustments Consolidated
*1
*2

Japan

Asia &
Oceania

Eurasia(Europe& NIS)

27,32992,74018,222

103,8812,118

244,292―

244,292

―

―

―

―

―

―

―

―

27,32992,74018,222

103,8812,118

244,292―

244,292

679

34,776

5,274

58,793(1,534)

97,988(2,528)95,460

Middle East
Americas& Africa

Total

Net sales
Sales to third parties
Intercompany sales andtransfers between segments
Total
Segment income (loss)

Note: 1. Adjustments of segment income of ¥(2,528) million include elimination of inter-segment transactions of ¥51 million and corporate expenses of¥(2,580) million. Corporate expenses are mainly amortization of goodwill and general administrative expenses that are not allocated to a reportablesegment.
2. Segment income is reconciled with operating income on the consolidated statement of income.

2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
None
II. For the three months ended June 30, 2016 (April 1, 2016 through June 30, 2016)
1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Adjustments Consolidated
*1
*2

Japan

Asia &
Oceania

Eurasia(Europe& NIS)

21,84855,424

15,615103,2132,034

198,136―

198,136

―

―

―

―

―

―

―

―

21,84855,424

15,615103,2132,034

198,136―

198,136

3,668

9,075

3,058

59,843(2,611)73,033(2,260)70,773

Middle East
Americas& Africa

Total

Net sales
Sales to third parties
Intercompany sales andtransfers between segments
Total
Segment income (loss)

Note: 1. Adjustments of segment income of ¥(2,260) million include elimination of inter-segment transactions of ¥2 million and corporate expenses of ¥(2,263)
million. Corporate expenses are mainly amortization of goodwill and general administrative expenses that are not allocated to a reportable segment.
2. Segment income is reconciled with operating income on the consolidated statement of income.

2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
None
3. Disclosure of changes, etc. in reportable segments(Change in useful life)
As described in (3) Changes in accounting policy, accounting estimates and restatement of corrections in 2. Notes
Regarding Summary Information (Notes) , The Company reviewed the period of economic estimated use of structures(pipelines) considering the progress of initiatives on strengthening our gas supply chain defined in the "Medium- to Long-Term
Vision", actual use records and others since the Toyama Line is planned to commence operation this fiscal year. It was
confirmed that they could be used longer than their conventional useful lives, which had been based on the method prescribedin the Corporation Tax Act, and the Company has changed their useful lives from the three months ended June 30, 2016.
As a result, compared with the conventional method, "Japan" segment income for the three months ended June 30, 2016
increased by ¥1,361 million.

13

(Subsequent events)
For the three months ended June 30, 2016 (April 1, 2016 through June 30, 2016):
None

14

4. Supplementary Information(1) Production, Orders Received and Sales Performance1) Actual production
The following table shows actual production by segment:
For the three months ended
Segment
Category
June 30, 2015
0.2 MMbbls
Crude oil
(2.6 Mbbls per day)
8.4 Bcf
Natural gas(92.7 MMcf per day)
1.8 MMboe
Japan
Subtotal(20.0 Mboe per day)
Iodine133.9 tons

141.3 tons

54.1 million kWh55.5 million kWh

4.4 MMbbls(48.5 Mbbls per day)66.3 Bcf(728.5 MMcf per day)16.9 MMboe(185.4 Mboe per day)
2.5 MMbbls(27.9 Mbbls per day)20.9 MMbbls(229.8 Mbbls per day)
0.7 MMbbls(7.2 Mbbls per day)
8.4 Bcf(92.1 MMcf per day)
2.1 MMboe(23.5 Mboe per day)
28.8 MMbbls(316.0 Mbbls per day)83.1 Bcf(913.4 MMcf per day)
44.3 MMboe(486.7 Mboe per day)

3.6 MMbbls(40.1 Mbbls per day)63.6 Bcf(699.3 MMcf per day)15.6 MMboe(172.0 Mboe per day)
2.6 MMbbls(29.0 Mbbls per day)24.0 MMbbls(264.0 Mbbls per day)
0.7 MMbbls(7.1 Mbbls per day)10.1 Bcf(110.8 MMcf per day)
2.5 MMboe(27.2 Mboe per day)
31.3 MMbbls(343.5 Mbbls per day)85.1 Bcf(935.0 MMcf per day)47.2 MMboe(518.9 Mboe per day)

133.9 tons

141.3 tons

54.1 million kWh55.5 million kWh

Electric power
generation
Crude oil
Asia & Oceania

Natural gas
Subtotal

Eurasia(Europe & NIS)

Crude oil

Middle East & Africa

Crude oil
Crude oil

AmericasNatural gas
Subtotal
Crude oil
Natural gas

Total

Subtotal

For the three months ended
June 30, 2016
0.3 MMbbls(3.2 Mbbls per day)11.4 Bcf(125.0 MMcf per day)
2.4 MMboe(26.7 Mboe per day)

IodineElectric power
generation

Note: 1. The volume of LPG produced overseas is included in 'Crude oil.'
2. A portion of crude oil and natural gas production volume is consumed as fuel to generate electricity.
3. The production by the Company's affiliates accounted for by the equity method is included in the figures above.
Also the production volume is a result for the three months ended June 30 regardless of a closing date of fiscal periods of its subsidiaries or affiliates.
4. The production volume of crude oil and natural gas under the production sharing contracts entered into by INPEX Group corresponds to the net
economic take of the group.
Figures calculated by multiplying the gross production volume by the Company's interest share are 34.3 MMbbls (376.4 Mbbls per day) of crude oil,
106.5 Bcf (1,170.4 MMcf per day) of natural gas, and in total 54.2 MMboe (595.6 Mboe per day) for the three months ended June 30, 2015, and 37.5
MMbbls (411.8 Mbbls per day) of crude oil, 105.2 Bcf (1,156.6 MMcf per day) of natural gas, and in total 57.2 MMboe (629.0 Mboe per day) for thethree months ended June 30, 2016.
5. Boe means barrels of oil equivalent.
6. Iodine is refined by other company on consignment.
7. Figures are rounded to one decimal place.

152) Orders received
Disclosure on this information is omitted because the amount of orders received is accounted for a minor portion of total sales.
3) Actual sales
The following table shows sales by segment:

Segment

Japan

Asia & Oceania

Category(Millions of yen)
For the three months ended
June 30, 2016
Sales volume
Net sales

For the three months ended
June 30, 2015
Sales volume
Net sales

Crude oil

135 Mbbls

1,063

208 Mbbls

1,063

Natural gas(excluding LPG)

14,776 MMcf

22,81814,559 MMcf

18,0732 Mbbls

12

1 Mbbls

4

LPG
Other

3,434

2,707

Subtotal

27,32921,848Crude oil

4,068 Mbbls

31,002

3,902 Mbbls

18,475Natural gas(excluding LPG)

57,678 MMcf

58,89458,977 MMcf

34,772LPG

541 Mbbls

2,842

620 Mbbls

2,177

Subtotal

92,74055,424

Eurasia(Europe & NIS)

Crude oil

2,399 Mbbls

18,222

3,059 Mbbls

15,615

Middle East & Africa

Crude oil

13,896 Mbbls

103,881

22,829 Mbbls

103,213

Crude oil

163 Mbbls

896

479 Mbbls

1,424

Natural gas(excluding LPG)

9,005 MMcf

1,222

7,649 MMcf

609

Americas

Subtotal

Total

2,118

2,034

Crude oil

20,661 Mbbls

155,066

30,476 Mbbls

139,792

Natural gas(excluding LPG)

81,459 MMcf

82,935

81,184 MMcf

53,455LPG

542 Mbbls

2,855

621 Mbbls

2,182

Other

3,434

2,707

Total

244,292

198,136

Note: 1. The above amounts do not include the related consumption tax.
2. The Company's subsidiaries of which closing date for fiscal year is December 31 are principally consolidated their operating results for the threemonths ended March 31 except those subsidiaries prepared their financial statements for consolidation purpose as of the consolidation closing date.
However, the significant effects of the difference in fiscal periods were properly adjusted in consolidation.
3. Sales volumes are rounded to the nearest whole number.

16