ファConsolidated Financial Results for the Three Months ended June 30, 2013 [Japanese GAAP]
August 2, 2013
Note: The following report is an English translation of the Japanese-language original.
Company
name
Code number: INPEX CORPORATION

Stock Exchange on which the Company is listed : Tokyo Stock Exchange: 1605URL

http://www.inpex.co.jp

Representative: Toshiaki Kitamura, President

Contact person: Kimihisa Kittaka, General Manager, Corporate Communications Unit
TEL+81-3-5572-0233

Scheduled date of filing Quarterly Financial Report: August 8, 2013

Scheduled date of payment of cash dividends: ―Preparation of supplementary explanatory materials: Yes

Meeting of quarterly financial results presentation: None(Amounts less than one million yen are rounded off)
1. Consolidated Financial Results for the Three Months ended June 30, 2013 (April 1, 2013-June 30, 2013)(1) Consolidated operating results(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales

Operating income

Ordinary income

Net income

For the three months ended
June 30, 2013

Millions of yen

302,505(2.7)

157,377(15.9)

150,624(27.3)

29,988(57.1)

June 30, 2012

310,806

5.4

187,1646.2

207,314

16.3

69,954

74.1%

Millions of yen%

Millions of yen%

Millions of yen%(Note): Consolidated comprehensive income: for the three months ended June 30, 2013, ¥91,404 million; (64.3%)
for the three months ended June 30, 2012, ¥55,622 million; (28.1%)

Net income pershare—basic
For the three months ended
June 30, 2013
June 30, 2012

Net income pershare—diluted
Yen

Yen

―
―

8,214.12
19,160.96(2) Consolidated financial position
Total assets
Millions of yen

As of June 30, 2013
As of March 31, 2013

3,715,749
3,616,158

Net assets excluding minority interests
as a percentage of total assets
Millions of yen%

Net assets

2,751,061
2,670,983

68.8
68.6

(Reference): Net assets excluding minority interests: as of June 30, 2013, ¥2,556,436 million
as of March 31, 2013, ¥2,481,292 million

2. Dividends
Cash dividends per share
At 1st quarter end
For the year ended
March 31, 2013
For the year ending
March 31, 2014

Yen―

At 2nd quarter end
Yen

3,500.00

At 3rd quarter end

At fiscal year end

Total

Yen

Yen

Yen

―

3,500.00

7,000.00―

For the year ending
3,600.00
9.00――
March 31, 2014 (forecast)(Note):1. Changes in projected dividends for the year ending March 31, 2014 from the previous forecast: None
2. Forecast information about year-end dividends for the fiscal year ending March 31, 2014 is provided after taking into consideration the effectof the stock split to be conducted at a ratio of 1:400 as to common stock with October 1, 2013 as the effective date.
If adjusted to reflect the number of shares prior to the stock split, the forecast of fiscal year end dividend amount will be equivalent to ¥3,600.
3. 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 ”.

ファ

3. Forecasted Consolidated Financial Results for the year ending March 31, 2014 (April 1, 2013-March 31, 2014)(Figures in % represent the changes from the previous fiscal period or year)
Net income per
Net sales
Operating income
Ordinary income
Net income
shareMillions of yen
For the six months ending
September 30, 2013

603,000% Millions of yen

4.2% Millions of yen

304,000 (10.1)% Millions of yen

312,000 (14.2)%

Yen

69,000 (38.1)

47.25

For the year ending
0.4
1,222,000
615,000 (11.3)
637,000 (11.3)
142,000 (22.4)
97.24
March 31, 2014
(Note):1. Changes in forecasted consolidated financial results for the year ending March 31, 2014 from the previous forecast: Yes
2. The Company will conduct a stock split at a ratio of 1:400 of common stock with October 1, 2013 as the effective date. Net income per shareis calculated based on the assumption that the stock split was conducted on April 1, 2013.

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 andother regulations
2. Other changes in accounting policies
3. Changes in accounting estimates
4. Restatement of corrections(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:: None: None: None: None3,655,810 shares as of June 30, 2013
3,655,810 shares as of March 31, 2013
4,916 shares as of June 30, 2013
4,916 shares as of March 31, 2013
3,650,894 shares for the three months ended June 30, 2013
3,650,894 shares for the three months ended June 30, 2012

(Note): Since shareholder of the Class A stock is entitled to the same rights as that for shareholders of common stock regarding dividends andthe distribution of residual property, the Class A stock is classified as common stock equivalent share. Further, the Company will conduct astock split at a ratio of 1:400 of common stock with October 1, 2013 as the effective date, however, for Class A stock (which is not listed),
no stock split will be implemented.

* 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*1: 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” onpage 3.
*2: The Company will conduct a stock split at a ratio of 1:400 of common stock with October 1, 2013 as the effective date.

ファ

Exhibit:
Dividends of Class A stock
Cash dividends per share
At 1st quarter end
For the year ended
March 31, 2013
For the year ending
March 31, 2014
For the year ending
March 31, 2014
(forecast)

At 2nd quarter end

At 3rd quarter end

Yen

Yen

―

3,500.00

At fiscal year end
Yen

―

Total

Yen

Yen

3,500.00

7,000.00

3,600.00

7,200.00―
3,600.00―* The Company will conduct a stock split at a ratio of 1:400 of common stock with October 1, 2013 as the effective date, however, forClass A stock (which is not listed), no stock split will be implemented. The article, which shows that dividends of Class A stock areequivalent to dividends of a common stock prior to the stock split, is specified in the Articles of Incorporation.

ファ

Index of the Attachments
1.

2.

3.

4.

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…….…………

3

Notes Regarding Summary Information (Notes)….………………………………………………………………………...

4(1) Significant changes in scope of consolidation…………………………………………………………………………...

4(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements..…………...

4(3) Changes in accounting policies, accounting estimates and restatement of corrections………………………………….

4

Consolidated Financial Statements…………………………………………………………………………………………..

5(1) Consolidated Balance Sheet………………………………………………………………………………………….......

5(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income……………………….......
Consolidated Statement of Income……………………………………………………………………………………....

7
7

Consolidated Statement of Comprehensive Income…………………………………………………………………......

8(3) Consolidated Statement of Cash Flows…………………………………………………………………....……..............

9(4) Notes to Consolidated Financial Statements ……………………………………………………………....…….............

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

11(Note on significant changes in shareholders’ equity)…………………………………………………………………...

11(Segment information)……………………………………………………………………………………………...........

12(Subsequent events)……………………………………………………………………………………………………...

12

Supplementary Information……………………………………………………………………………………………….....

13(1) Production, Orders Received and Sales Performance…………………………………………………………………....

13

1

ファ

1. Qualitative Information / Financial Statements(1) Explanation on Consolidated Financial Results
During the three months ended June 30, 2013, consolidated net sales were ¥302.5 billion (decreased by ¥8.3 billion, or 2.7%, fromthe corresponding period of the previous fiscal year) due to decreases in sales volume of crude oil and sales prices of crude oil andnatural gas. Net sales of crude oil decreased by ¥4.7 billion, or 2.4%, to ¥190.6 billion, and net sales of natural gas decreased by¥0.7 billion, or 0.7%, to ¥107.9 billion. Sales volume of crude oil decreased by 3,213 thousand barrels, or 14.7%, to 18,689
thousand barrels. Sales volume of natural gas increased by 2,467 million cf, or 3.1%, to 81,348 million cf. Sales volume ofoverseas natural gas increased by 2,377 million cf, or 3.7%, to 66,479 million cf, and sales volume of domestic natural gas
increased by 2 million ㎥, or 0.6%, to 398 million ㎥ (14,869 million cf). The average sales price of overseas crude oil
decreased by US$7.71, or 7.0 %, to US$103.06 per barrel, and the average sales price of overseas natural gas decreased by
US$2.15, or 14.6%, to US$12.59 per thousand cf. On the other hand, the average sales price of domestic natural gas increased by¥2.68, or 5.8%, to ¥49.24 per ㎥. The average exchange rate of Japanese yen against U.S. dollar on consolidated net sales
depreciated by ¥18.54, or 23.1%, to ¥98.65 per U.S. dollar from the corresponding period of the previous fiscal year.
The decrease of ¥8.3 billion in net sales was mainly derived from the following factors: regarding net sales of crude oil andnatural gas, decreases in sales volume and unit sales price pushing sales down of ¥28.0 billion and ¥29.3 billion, respectively, thedepreciation of Japanese yen against U.S. dollar contributing ¥51.9 billion to the increase, and a decrease in net sales excluding
crude oil and natural gas of ¥2.8 billion.
Cost of sales for the three months ended June 30, 2013 increased by ¥13.7 billion, or 13.1%, to ¥118.0 billion due mainly to thedepreciation of Japanese yen against U.S. dollar. Exploration expenses increased by ¥5.4 billion, or 313.4%, to ¥7.2 billion due
mainly to an increase in exploration activities in the Middle East and Africa region. Selling, general and administrative expenses
increased by ¥2.2 billion, or 13.0%, to ¥19.8 billion. As a result, operating income decreased by ¥29.7 billion, or 15.9%, to ¥157.3
billion.
Other income decreased by ¥21.2 billion, or 71.5 %, to ¥8.4 billion due to decreases in gain on transfer of mining rights andequity in earnings of affiliates. Other expenses increased by ¥5.6 billion, or 59.3%, to ¥15.2 billion due to an increase in foreignexchange loss. As a result, ordinary income and income before income taxes and minority interests decreased by ¥56.6 billion, or
27.3%, to ¥150.6 billion.
Total amount of current income taxes decreased by ¥33.2 billion, or 25.8%, to ¥95.3 billion, and deferred income taxes were ¥23.4
billion, income before minority interests decreased by ¥40.3 billion, or 55.9%, to ¥31.8 billion, and minority interests were ¥1.8
billion. As a result of the above effects, net income for the three months ended June 30, 2013 decreased by ¥39.9 billion, or 57.1%,
to ¥29.9 billion from the corresponding period of the previous fiscal year.

Financial results by segment are as follows:
1)

Japan
Net sales decreased by ¥0.6 billion, or 2.4%, to ¥25.3 billion due to a decrease in sales volume of oil products. Operating income
decreased by ¥1.1 billion, or 24.4%, to ¥3.6 billion due to an increase in exploration expenses.
2) Asia & Oceania
Net sales decreased by ¥29.6 billion, or 20.7%, to ¥113.4 billion due to decreases in sales volume and sales prices of crude oiland natural gas, despite the depreciation of Japanese yen against U.S. dollar. Operating income decreased by ¥35.6 billion, or
39.2%, to ¥55.3 billion due to an increase in operating expenses.
3) Eurasia (Europe & NIS)
Net sales increased by ¥6.3 billion, or 31.6%, to ¥26.3 billion due to the depreciation of Japanese yen against U.S. dollar and anincrease in sales volume, despite a decrease in sales price of crude oil. Operating income increased by ¥2.8 billion, or 28.9%, to¥12.7 billion.
4) Middle East & Africa
Net sales increased by ¥14.4 billion, or 12.0%, to ¥135.0 billion due to the depreciation of Japanese yen against U.S. dollar,
despite decreases in sales price of crude oil and sales volume. Operating income increased by ¥5.6 billion, or 6.6%, to ¥90.2
billion.
5) Americas
Net sales increased by ¥1.1 billion, or 98.9%, to ¥2.3 billion due to an increase in sales volume of natural gas. Operating loss
increased by ¥1.3 billion, or 172.5%, to ¥2.1 billion due to an increase in exploration expenses.

2ファ(2) Explanation on Consolidated Financial Position
Total assets as of June 30, 2013 increased by ¥99.5 billion to ¥3,715.7 billion from ¥3,616.1 billion as of March 31, 2013. This isdue mainly to an increase in fixed assets by ¥118.1 billion owing to increases in tangible fixed assets and intangible assets.
Meanwhile, total liabilities increased by ¥19.5 billion to ¥964.6 billion from ¥945.1 billion as of March 31, 2013. Current
liabilities decreased by ¥45.4 billion to ¥369.5 billion and long-term liabilities increased by ¥64.9 billion to ¥595.1 billion.
Net assets increased by ¥80.0 billion to ¥2,751.0 billion. Minority interests in net assets increased by ¥4.9 billion to ¥194.6 billion.
Cash and cash equivalents as of June 30, 2013 totaled ¥222.8 billion reflecting a net increase of ¥22.9 billion from ¥199.8 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 was ¥54.1 billion (decreased by ¥25.9 billion from the corresponding period of theprevious fiscal year). This is due mainly to decreases in income before income taxes and minority interests and income taxes,
derived from a decrease in sales prices of crude oil and natural gas.
2) Cash flows from investing activities
Net cash used in investing activities decreased by ¥30.0 billion to ¥71.1 billion. This is due mainly to an increase in collectionof long-term loans receivable and a decrease in payments for purchase of mining rights, despite an occurrence of payments forlong-term time deposits.
3) Cash flows from financing activities
Net cash provided by financing activities increased by ¥23.0 billion to ¥11.9 billion. This is due mainly to proceeds from longterm debt.

(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, 2013 and the year ending March 31, 2014
have been revised from the previous forecasts presented on May 10, 2013, taking into consideration the consolidated financial
results for the three months ended June 30, 2013.
Forecasts for consolidated financial results for the six months ending September 30, 2013
Operating
Ordinary
Net sales
incomeincomePrevious Forecasts: A
594,000
292,000
300,000
Revised Forecasts: B(Millions of yen)
Net income
66,000603,000

304,000

312,000

69,0009,000

12,00012,000

3,000

1.5

4.1

4.0

4.5

Forecasts for consolidated financial results for the year ending March 31, 2014
Operating
Net sales
incomePrevious Forecasts: A
1,209,000
594,000

Ordinary
income615,000

Increase (Decrease): B－A
Percentage change (%)

Revised Forecasts: B
Increase (Decrease): B－A
Percentage change (%)(Millions of yen)
Net income
137,000

1,222,000

615,000

637,000

142,000

13,00021,00022,000

5,000

1.1

3.5

3.6

3.6

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

Revised Forecasts
st

1 quarter (actual) : US$ 103.4/bbl
From 2nd quarter: US$ 100.0/bbl
Fiscal Year :US$ 100.8/bbl (Average)
1st quarter (actual) : ¥98.8/US$
Fiscal Year (April 1, 2013- March 31, 2014) :From 2nd quarter: ¥95.0/US$
Exchange rate
¥95.0/US$ (Average)
Fiscal Year :¥95.9/US$ (Average)
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 and Brent price. Price differences are caused by its quality and its pricing range which is affected by themarket conditions. Most of the crude oil prices the Company sells are lower than Brent price.
Crude oil price(Brent)Fiscal Year (April 1, 2013- March 31, 2014) :US$ 100.0/bbl (Average)3ファ

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:None4更新日時:2013/08/02 10:24:00 印刷日時:13/08/02 10:24

ァイル名:③H26.3第1四半期BS【OK】.doc

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

As of March 31, 2013

As of June 30, 2013

(Assets)
Current assets
Cash and deposits

483,814599,381

Accounts receivable-trade117,411

109,621Marketable securities

281,642

238,704

Inventories

15,40914,988Other

223,145

141,241

Less allowance for doubtful accounts(14,919)(16,030)

Total current assets

1,106,504

1,087,906

Buildings and structures, net

102,965

106,527

Wells, net

19,777

20,385

Machinery, equipment and vehicles, net

71,47770,670Land

19,56019,566

Construction in progress

359,429438,904

Other, net

11,33014,133

Total tangible fixed assets

584,541

670,188

Goodwill

87,84086,149Other292,314318,097

Total intangible assets

380,155404,246

Investment securities

673,129

622,486

Recoverable accounts under production
sharing

590,565

614,802

Other

400,046439,341

(793)

(833)

(112,870)(118,337)(5,119)(4,052)

Total investments and other assets

1,544,957

1,553,407

Total fixed assets

2,509,654

2,627,842

3,616,158

3,715,749

Fixed assets
Tangible fixed assets

Intangible assets

Investments and other assets

Less allowance for doubtful accounts
Less allowance for recoverable accounts
under production sharing
Less allowance for investments in
exploration

Total assets5更新日時:2013/08/02 10:24:00 印刷日時:13/08/02 10:24

ァイル名:③H26.3第1四半期BS【OK】.doc(Millions of yen)Accounts

As of March 31, 2013

As of June 30, 2013

(Liabilities)
Current liabilities
Accounts payable-trade

41,40140,754

Short-term loans

8,560

12,820

Income taxes payable

152,681

78,870

Provision for exploration projects

26,856

24,840Accrued bonuses to officers

127

31

Asset retirement obligations

3,812

3,914

Other

181,536

208,293

Total current liabilities

414,976

369,525

466,908502,342

Accrued retirement benefits to employees

8,580

8,629

Provision for loss on business

3,705

3,888

277

286

Asset retirement obligations

13,581

14,359Other

37,14465,656

Total long-term liabilities

530,198

595,162

Total liabilities

945,174

964,688

Common stock

290,809290,809

Capital surplus

679,287

679,287

Retained earnings

1,375,106

1,392,317

Treasury stock(5,248)(5,248)2,339,956

2,357,166

Unrealized holding gain on securities

34,741

51,537

Unrealized gain (loss) from hedging
instruments

16,243(15,262)

Translation adjustments

90,350162,995

Total accumulated other comprehensive
income141,336

199,270

Minority interests

189,691

194,624

Total net assets

2,670,983

2,751,061

Total liabilities and net assets

3,616,158

3,715,749

Long-term liabilities
Long-term debt

Accrued special repair and maintenance(Net assets)
Shareholders’ equity

Total shareholders’ equity
Accumulated other comprehensive income6ァイル名:④H26.3第1四半期_PL_包括利益【OK】.doc

更新日時(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, 2013

For the three months ended
June 30, 2012

Net sales

310,806

302,505

Cost of sales

104,320

118,034

Gross profit

206,485

184,470

Exploration expenses

1,750

7,236

Selling, general and administrative expenses

17,57019,855

Operating income

187,164

157,377

Interest income

1,498

4,726

Dividend income

1,073

1,281

Equity in earnings of affiliates

3,365

―

Gain on transfer of mining rights

15,304―Foreign exchange gain

2,806

―

Other

5,655

2,458

Total other income

29,7048,466Interest expense

293

616

Equity in losses of affiliates

―

2,137

Provision for allowance for recoverable accounts under
production sharing

1,493

1,090

Provision for exploration projects

3,096

404

Loss on valuation of investment securities

3,305

―

―

8,650

Other

1,365

2,318

Total other expenses

9,554

15,219Ordinary income

207,314150,624

Income before income taxes and minority interests

207,314150,624

Income taxes-current

128,546

95,345

Income taxes-deferred

6,596

23,426

Total income taxes

135,142

118,772

Income before minority interests

72,17231,852

Minority interests

2,217

1,863

Net income

69,95429,988Other income

Other expenses

Foreign exchange loss7ァイル名:④H26.3第1四半期_PL_包括利益【OK】.doc

更新日時

Consolidated Statement of Comprehensive Income(Millions of yen)Accounts

For the three months ended
June 30, 2012

For the three months ended
June 30, 2013

72,17231,852

Unrealized holding gain (loss) on securities(9,880)16,796

Unrealized loss from hedging instruments(2,284)(7,450)Translation adjustments(6,033)

71,629

Share of other comprehensive income of associates
accounted for by the equity method

1,649(21,423)

Total other comprehensive income(16,549)

59,551

Comprehensive income

55,62291,404

Shareholders of INPEX CORPORATION

53,17787,922

Minority interests

2,445

3,481

Income before minority interests
Other comprehensive income

Total comprehensive income attributable to8

- 9 -- 9 -ファイル名:⑤(3) Consolidated Statement of Cash Flows(Millions of yen)
For the three months
ended June 30, 2012

Accounts

For the three months
ended June 30, 2013

Cash flows from operating activities
Income before income taxes and minority interests

207,314150,624

Depreciation and amortization

13,485

11,835

Amortization of goodwill

1,690

1,690

Provision for allowance for recoverable accounts
under production sharing

2,356

5,169

Provision for exploration projects

3,048(2,176)

Provision for accrued retirement benefits to employees

44

77

Other provisions

399

55

(2,572)(6,008)Interest expense

293

616

Foreign exchange loss (gain)

(450)

9,215

Equity in (earnings) losses of affiliates(3,365)

2,137

Gain on transfer of mining rights(15,304)―

12,51014,224(5,404)(9,704)

Accounts receivable-trade

24,244

6,717

Inventories(1,288)210

Accounts payable-trade

(312)

(615)

Other

6,348

19,032

Subtotal

243,038

203,103

Interest and dividends received

4,157

7,595

Interest paid

(780)

(322)

(166,315)(156,250)

80,09854,126

Interest and dividend income

Recovery of recoverable accounts under
production sharing (capital expenditures)
Recoverable accounts under production
sharing (operating expenditures)

Income taxes paid
Net cash provided by operating activities9

- 10 -- 10 -ファイル名:⑤(Millions of yen)
For the three months
ended June 30, 2012

Accounts

For the three months
ended June 30, 2013

Cash flows from investing activities
Payments for time deposits(32,642)(50,125)

Proceeds from time deposits

23,84438,501

Payments for long-term time deposits―(133,240)

Proceeds from long-term time deposits

5,000

15,000(49,265)(74,180)

Proceeds from sales of tangible fixed assets

31

231

Payments for purchases of intangible assets

(284)

(365)

Payments for purchases of marketable securities(2,600)―

Proceeds from sales and redemptions of marketablesecurities

78,15385,144

Payments for purchases of investment securities(10,098)(10,217)

10,30533,319(22,372)(26,364)

50

(690)

(36,434)(14)

Collection of long-term loans receivable

42

71,167

Payments for purchase of mining rights(81,504)(20,222)

Proceeds from transfer of mining rights

13,905

―

Other

2,605

874

(101,263)(71,182)

Increase in short-term loans―

74

Proceeds from long-term debt―

21,064

Repayments of long-term debt

(807)

(285)

Proceeds from minority interests for additional shares

1,567

1,451

(11,836)(10,356)

(10)

(7)

Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash
equivalents(11,086)

11,938(6,622)28,095

Net increase (decrease) in cash and cash equivalents(38,874)

22,977

Cash and cash equivalents at beginning of the period

249,233

199,858

Cash and cash equivalents at end of the period

210,359

222,836

Payments for purchases of tangible fixed assets

Proceeds from sales and redemptions of investment
securities
Investment in recoverable accounts under
production sharing (capital expenditures)
Decrease (increase) in short-term loans receivable
Long-term loans madeNet cash used in investing activities
Cash flows from financing activities

Cash dividends paid
Other

10

ファイル名(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, 2013 (April 1, 2013 through June 30, 2013):
None(Note on significant changes in shareholders’ equity)
For the three months ended June 30, 2013 (April 1, 2013 through June 30, 2013):
None

11

ファイル名(Segment information)
I

For the three months ended June 30, 2012 (April 1, 2012 through June 30, 2012)

1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Eurasia
Middle East
(Europe &Americas& Africa
NIS)

Adjustments Consolidated

Japan

Asia &
Oceania

26,027143,039

20,031

120,550

1,157

310,806－

310,806

－

－

－

－

－

－

－

－

Total

26,027143,039

20,031

120,550

1,157

310,806－

310,806

Segment income (loss)

4,888

91,073

9,878

84,598(805)

189,633(2,468)187,164

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

Note: 1. Adjustments of segment income of ¥(2,468) million include elimination of inter-segment transactions of ¥56 million andcorporate expenses of ¥(2,524) 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

II

For the three months ended June 30, 2013 (April 1, 2013 through June 30, 2013)

1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Eurasia
Middle East
(Europe &Americas& Africa
NIS)

Adjustments Consolidated

Japan

Asia &
Oceania

25,396

113,435

26,368135,001

2,302

302,505－

302,505

－

－

－

－

－

－

－

－

Total

25,396

113,435

26,368135,001

2,302

302,505－

302,505

Segment income (loss)

3,695

55,375

12,73590,203(2,193)

159,816(2,438)157,377

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

Note: 1. Adjustments of segment income of ¥(2,438) million include elimination of inter-segment transactions of ¥58 million andcorporate expenses of ¥(2,497) 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(Subsequent events)
For the three months ended June 30, 2013 (April 1, 2013 through June 31, 2013):
None

12

2ファイル名:

4. Supplementary Information(1) Production, Orders Received and Sales Performance1) Actual production
The following table shows actual production by segment:
Segment

Category
Crude oil
Natural gas

Japan

Subtotal
Petroleum products
IodineElectric 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
Petroleum products
IodineElectric power
generation

Notes:For the three months ended
June 30, 2012
0.3 MMbbls(3.5 Mbbls per day)10.8 Bcf(118.6 MMcf per day)
2.3 MMboe(25.8 Mboe per day)48.0 Mkl(301.9 Mbbls)
113.0 tons

For the three months ended
June 30, 2013
0.3 MMbbls(3.3 Mbbls per day)10.3 Bcf(113.3 MMcf per day)
2.2 MMboe(24.6 Mboe per day)－Mkl(－Mbbls)
119.3 tons

44.4 millions kWh

55.5 millions kWh

6.3 MMbbls(69.4 Mbbls per day)57.0 Bcf(626.0 MMcf per day)17.1 MMboe(188.3 Mboe per day)
2.4 MMbbls(26.3 Mbbls per day)14.0 MMbbls(153.4 Mbbls per day)
0.1 MMbbls(0.6 Mbbls per day)
6.0 Bcf(65.4 MMcf per day)
1.1 MMboe(12.4 Mboe per day)23.0 MMbbls(253.2 Mbbls per day)
73.7 Bcf(810.0 MMcf per day)37.0 MMboe(406.1 Mboe per day)48.0 Mkl(301.9 Mbbls)
113.0 tons

4.5 MMbbls(49.7 Mbbls per day)
58.3 Bcf(640.7 MMcf per day)15.5 MMboe(170.6 Mboe per day)
2.4 MMbbls(26.9 Mbbls per day)15.2 MMbbls(166.9 Mbbls per day)
0.1 MMbbls(1.1 Mbbls per day)
9.4 Bcf(103.3 MMcf per day)
1.8 MMboe(19.4 Mboe per day)22.6 MMbbls(248.0 Mbbls per day)
78.0 Bcf(857.4 MMcf per day)37.2 MMboe(408.3 Mboe per day)－Mkl(－Mbbls)
119.3 tons

44.4 millions kWh

55.5 millions kWh

1. The volume of LPG produced overseas is included in ‘Crude oil.’ On the other hand, the volume of LPG produced in thedomestic refinery is included in ‘Petroleum Products.’
2. A portion of crude oil production volume is consumed as material for petroleum products.
3. A portion of crude oil and natural gas production volume is consumed as fuel to generate electricity.
4. 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.
5. The production volume of crude oil and natural gas under the production sharing contracts entered into by INPEX Groupcorresponds to the net economic take of the group.
Figures calculated by multiplying the gross production volume by the Company’s interest share are 30.5 MMbbls (334.8 Mbbls perday) of crude oil, 103.1 Bcf (1,132.7 MMcf per day) of natural gas, and in total 50.0 MMboe (549.3 Mboe per day) for the threemonths ended June 30, 2012, and 30.4 MMbbls (334.0 Mbbls per day) of crude oil, 106.7 Bcf (1,172.9 MMcf per day) of naturalgas, and in total 50.4 MMboe (554.0 Mboe per day) for the three months ended June 30, 2013.
6. Boe means barrels of oil equivalent.
7. The volume of petroleum products is converted to bbl in parenthesis. Applied coefficient is 6.29 bbls per kl.
8. Iodine is refined by other company on consignment.
9. Figures are rounded to one decimal place.

13

2ファイル名:

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

CategoryJapan

Crude oil
Natural gas(excluding LPG)
LPG

Asia & Oceania

1 Mbbls15

178 Mbbls

1,843

14,779 MMcf

18,43914,869 MMcf

19,62073 Mbbls846

2 Mbbls

17

Other

6,725

3,915

Subtotal

26,02725,396

Crude oil
Natural gas(excluding LPG)
LPG

5,729 Mbbls

54,656

2,697 Mbbls

27,33358,006 MMcf

80,921

56,121 MMcf

80,1937,460

795 Mbbls

1,069 Mbbls

Subtotal
Eurasia(Europe & NIS)
Middle East & Africa

5,908
113,435

Crude oil

2,309 Mbbls

20,0312,519 Mbbls

26,368Crude oil

13,844Mbbls

120,550

13,284 Mbbls

135,001

18 Mbbls

158

11 Mbbls

117

6,096 MMcf

999

10,358 MMcf

2,185

1,157

Crude oil
Natural gas(excluding LPG)
LPG

Total

Notes:

143,039

Crude oil
Natural gas(excluding LPG)
Subtotal

Americas(Millions of yen)
For the three months ended
June 30, 2013
Sales volume
Net sales

For the three months ended
June 30, 2012
Sales volume
Net sales

2,302

21,902 Mbbls

195,412

18,689 Mbbls

190,663

78,881 MMcf

100,360

81,348 MMcf

101,999

1,142 Mbbls

8,307

797 Mbbls

5,926

Other

6,725

3,915

Total

310,806

302,505

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 three months 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 inconsolidation.
3. Sales volumes are rounded to the nearest whole number.
4. Sales for a major customer and sales as a percentage of total net sales are as follows. Sales amount of PERTAMINA
consists mostly of natural gas, and they are sold to Japanese, Korean, and Taiwanese customers in the form of LNG.

For the three months ended
June 30, 2012
Customer

PERTAMINA

For the three months ended
June 30, 2013

Amounts

Ratio

Amounts

Ratio（Millions of yen）(%)

（Millions of yen）(%)

64,78320.8

1451,97217.2