ファConsolidated Financial Results for the Six Months ended September 30, 2012 [Japanese GAAP]
November 6, 2012
Note: The following report is an English translation of the Japanese-language original.
Company name

: INPEX CORPORATION

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

Code number: 1605

URL 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: November 12, 2012

Scheduled date of payment of cash dividends: December 3, 2012

Preparation of supplementary explanatory materials: Yes

Meeting of quarterly financial results presentation: Yes(for institutional investors and analysts)(Amounts less than one million yen are rounded off)

1. Consolidated Financial Results for the Six Months ended September 30, 2012 (April 1, 2012-September 30, 2012)(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 six months ended
September 30, 2012

Millions of yen

578,505

0.9

337,999

3.0

363,8289.4

111,382

49.7

September 30, 2011

573,165

32.4

328,060

41.0

332,484

51.0

74,396

47.0%

Millions of yen%

Millions of yen%

Millions of yen%(Note): Consolidated comprehensive income: for the six months ended September 30, 2012, ¥84,351 million; (22.2%)
for the six months ended September 30, 2011, ¥69,028 million; (131.7%)

Net income pershare—basic
For the six months ended
September 30, 2012
September 30, 2011

Net income pershare—diluted
Yen

Yen

―
―

30,508.24
20,377.60(2) Consolidated financial position
Total assets
Millions of yen

As of September 30, 2012
As of March 31, 2012

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

Net assets

3,093,454
3,066,397

2,387,136
2,314,193

72.6
71.1

(Reference): Net assets excluding minority interests: as of September 30, 2012, ¥2,244,864 million
as of March 31, 2012, ¥2,179,251 million

2. Dividends
Cash dividends per share
At 1st quarter end
For the year ended
March 31, 2012
For the year ending
March 31, 2013

Yen

At 2nd quarter end

At 3rd quarter end

Yen―

3,000.00―

3,500.00

At fiscal year end

Total

Yen

Yen

Yen

―

4,000.00

7,000.00

For the year ending
3,500.00―
March 31, 2013 (forecast)(Note): Changes in projected dividends for the year ending March 31, 2013 from the previous forecast: None

7,000.00

3. Forecasted Consolidated Financial Results for the year ending March 31, 2013 (April 1, 2012-March 31, 2013)(Figures in % represent the changes from the previous year)

Net sales

Operating income

Ordinary income

Net income

Millions of yen% Millions of yen% Millions of yen% Millions of yen%
For the year ending
1,099,000(7.4)
599,000(15.6)
640,000(16.6)
182,000(6.2)
March 31, 2013
(Note): Changes in forecasted consolidated financial results for the year ending March 31, 2013 from the previous forecast: Yes

Net income per
share
Yen

49,850.80

ファ

4. Others(1) Significant changes in scope of consolidation: Yes(Changes in the specified subsidiaries during the period due to change in scope of consolidation)
Newly included: INPEX Oil & Gas Australia Pty Ltd, INPEX Gas British Columbia Ltd.
(Two companies)(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 September 30, 2012
3,655,810 shares as of March 31, 2012
4,916 shares as of September 30, 2012
4,916 shares as of March 31, 2012
3,650,894 shares for the six months ended September 30, 2012
3,650,894 shares for the six months ended September 30, 2011

(Note): Since shareholder of the special class share is entitled to the same rights as that for shareholders of common stock regarding dividends andthe distribution of residual property, the special class share is classified as common stock equivalent share.

* 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 pricelevels, production and sales plans, project development schedules, government regulations and financial and tax schemes. Please refer
to “1.(3) Qualitative Information on Forecasted Consolidated Financial Results” on page 3.

ファIndex of the Attachments

1.

Qualitative Information / Financial Statements……………………………………………………………………………..

2(1) Qualitative Information on Consolidated Financial Results……………………………………………………………..

2(2) Qualitative Information on Consolidated Financial Position…………………………………………………………….

3(3) Qualitative Information on Forecasts for Consolidated Financial Results………………………………………………

3

Others ……………………………………………………………………………………………………………………...

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

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

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

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

7
7

Consolidated Statements of Comprehensive Income…………………………………………………………………....

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

9(4) Conditions or events that indicate there could be substantial doubt about
the Company’s ability to continue as a going concern…………………………………………………………………..

11(5) Segment information…………………………………………………………………………………………………......

12(6) Note on significant changes in shareholders’ equity……………………………………………………………………..

13(7) Subsequent events………………………………………………………………………………………………………..

13

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

14(1) Production, Orders Received and Sales Performance…………………………………………………………………....

14

2.

4.

1

ファ

1. Qualitative Information / Financial Statements(1) Qualitative Information on Consolidated Financial Results
During the six months ended September 30, 2012, consolidated net sales were ¥578.5 billion (increased by ¥5.3 billion, or 0.9%,
from the corresponding period of the previous fiscal year) due to an increase in sales volume of crude oil and sales price of naturalgas. Net sales of crude oil increased by ¥15.7 billion, or 4.5%, to ¥367.8 billion, and net sales of natural gas decreased by ¥10.8
billion, or 5.3%, to ¥195.0 billion. Sales volume of crude oil increased by 2,982 Mbbls, or 7.6%, to 42,120 Mbbls. Sales volumeof natural gas decreased by 30,892 MMcf, or 16.7%, to 153,562 MMcf. Sales volume of overseas natural gas decreased by 31,560
MMcf, or 20.2%, to 124,466 MMcf, and sales volume of domestic natural gas increased by 18 MM㎥, or 2.4%, to 780 MM㎥(29,096 MMcf). The average sales price of overseas crude oil decreased by US$2.53 per bbl, or 2.3 %, to US$109.24 per bbl, andthe average sales price of overseas natural gas increased by US$0.41 per Mcf, or 3.0%, to US$13.96 per Mcf. In addition, theaverage sales price of domestic natural gas increased by ¥3.71, or 8.7%, to ¥46.53 per ㎥. The average exchange rate of Japanese
yen against U.S. dollar on consolidated net sales appreciated by ¥0.44, or 0.6%, to ¥79.49 per U.S. dollar from the corresponding
period of the previous fiscal year.
The increase of ¥5.3 billion in net sales was mainly derived from the following factors: an increase in sales volume and unit sales
price contributing ¥4.5 billion and ¥3.4 billion to the increase, respectively, and the appreciation of Japanese yen against U.S.
dollar pushing sales down of ¥3.0 billion, and an increase in net sales excluding crude oil and natural gas of ¥0.4 billion.
Cost of sales for the six months ended September 30, 2012 increased by ¥2.5 billion, or 1.3%, to ¥201.9 billion due mainly to anincrease in depreciation and amortization owing to the commencement of production in the Kitan oil field in October, 2011, and in
the Van Gogh oil field. Exploration expenses decreased by ¥6.4 billion, or 61.2%, to ¥4.0 billion due mainly to a decrease in
exploration activities in Americas. Selling, general and administrative expenses decreased by ¥0.7 billion, or 2.0%, to ¥34.4
billion. As a result, operating income increased by ¥9.9 billion, or 3.0%, to ¥337.9 billion.
Other income increased by ¥19.4 billion, or 98.1 %, to ¥39.2 billion due to an increase in gain on transfer of mining rights andgain on sales of investment securities. Other expenses decreased by ¥1.9 billion, or 12.7%, to ¥13.4 billion due to a decrease inprovision for allowance for recoverable accounts under production sharing. As a result, ordinary income and income before
income taxes and minority interests increased by ¥31.3 billion, or 9.4%, to ¥363.8 billion.
Total amount of current income taxes decreased by ¥9.1 billion, or 3.7%, to ¥236.2 billion, and deferred income taxes were ¥12.0
billion, income before minority interests increased by ¥32.5 billion, or 39.1%, to ¥115.5 billion, and minority interests were ¥4.1
billion. As a result of the above effects, net income for the six months ended September 30, 2012 increased by ¥36.9 billion, or
49.7%, to ¥111.3 billion from the corresponding period of the previous fiscal year.

Financial results by segment are as follows:
1)

2)

3)

4)

5)

Japan
Net sales increased by ¥3.4 billion, or 6.9%, to ¥53.4 billion due to an increase in sales volume and sales price of natural gas.
Operating income increased by ¥3.3 billion, or 55.5%, to ¥9.2 billion.
Asia & Oceania
Net sales increased by ¥20.5 billion, or 8.9%, to ¥252.2 billion due to an increase in sales volume of crude oil and sales price of
natural gas despite a decrease in sales price of crude oil, and the appreciation of Japanese yen against U.S. dollar. Operating
income increased by ¥16.3 billion, or 11.9%, to ¥153.4 billion.
Eurasia (Europe & NIS)
Net sales decreased by ¥8.6 billion, or 19.2%, to ¥36.4 billion due to a decrease in sales price and sales volume of crude oil, andthe appreciation of Japanese yen against U.S. dollar. Operating income decreased by ¥8.0 billion, or 31.8%, to ¥17.3 billion.
Middle East & Africa
Net sales decreased by ¥9.6 billion, or 4.0 %, to ¥234.2 billion due to a decrease in sales price and sales volume of crude oil, andthe appreciation of Japanese yen against U.S. dollar. Operating income decreased by ¥7.1 billion, or 4.2%, to ¥164.3 billion.
Americas
Net sales decreased by ¥0.3 billion, or 14.0%, to ¥2.2 billion due to a decrease in sales volume, and operating loss decreased by¥5.1 billion, or 76.9%, to ¥1.5 billion due to a decrease in exploration expenses.

2ファ(2) Qualitative Information on Consolidated Financial Position
Total assets as of September 30, 2012 increased by ¥27.0 billion to ¥3,093.4 billion from ¥3,066.3 billion as of March 31, 2012.
This is due mainly to an increase in fixed assets by ¥131.6 billion owing to an increase in tangible fixed assets and intangible
assets, despite a decrease in current assets by ¥104.5 billion owing to a decrease in marketable securities and others.
Meanwhile, total liabilities decreased by ¥45.8 billion to ¥706.3 billion from ¥752.2 billion as of March 31, 2012. Current
liabilities decreased by ¥56.3 billion to ¥311.4 billion and long-term liabilities increased by ¥10.4 billion to ¥394.8 billion.
Net assets increased by ¥72.9 billion to ¥2,387.1 billion. Minority interests in net assets increased by ¥7.3 billion to ¥142.2 billion.
Cash and cash equivalents as of September 30, 2012 totaled ¥175.9 billion reflecting a net decrease of ¥73.3 billion from ¥249.2
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 ¥110.6 billion (decreased by ¥27.9 billion from the corresponding period of theprevious fiscal year). This is due mainly to an increase in income taxes paid despite an increase in income before income taxes
and minority interests.
2) Cash flows from investing activities
Net cash used in investing activities was ¥180.9 billion (increased by ¥24.9 billion from the corresponding period of theprevious fiscal year). This is due mainly to an increase in payments for purchase of mining rights and long-term loans madedespite a decrease in payments for purchases of investment securities.
3) Cash flows from financing activities
Net cash provided by financing activities was ¥7.5 billion (decreased by ¥4.8 billion from the corresponding period of theprevious fiscal year). This is due mainly to an increase in cash dividends paid.
(3) Qualitative Information on Forecasts for Consolidated Financial Results
Forecasts for consolidated financial results for the year ending March 31, 2013 have been revised from the previous forecast
presented on August 3, 2012, considering the consolidated financial results for the six months ended September 30, 2012, andothers.
The above revisions are due largely to the following factors;
・ Crude oil prices remained slightly higher than what were assumed in the previous forecasts.
・ Regarding the transfer of part of interest in the Ichthys Project in Australia, the gain on the transfer of the interest has been
assumed to be higher than the previous assumption.
Forecasts for consolidated financial results for the year ending March 31, 2013
Operating
Net sales
incomePrevious Forecasts: A
1,089,000
587,000
Revised Forecasts: B
Increase (Decrease): B－A
Percentage change (%)(Millions of yen)
Ordinary
incomeNet income

607,000

168,000

1,099,000

599,000

640,000

182,000

10,00012,00033,00014,000

0.9

2.0

5.4

8.3

3

ファ

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

Crude oil price(Brent)Exchange rate

1st Half (April 1, 2012-September 30, 2012):
US$104.5/bbl
2nd Half (October 1, 2012-March 31,2013):
US$100.0/bbl
Full Year (April 1, 2012-March 31, 2013):
US$102.2/bbl (Average)
1st Half (April 1, 2012-September 30, 2012):¥80.1/US$1
2nd Half (October 1, 2012-March 31,2013):¥80.0/US$1
Full Year (April 1, 2012-March 31, 2013):¥80.0/US$1 (Average)

Revised Forecasts
1st Half (April 1, 2012-September 30, 2012):
US$109.2/bbl (Actual)
2nd Half (October 1, 2012-March 31, 2013):
US$100.0/bbl
Full Year (April 1, 2012-March 31, 2013):
US$104.6/bbl (Average)
1st Half (April 1, 2012-September 30, 2012):¥79.4/US$1 (Actual)
2nd Half (October 1, 2012-March 31,2013):¥80.0/US$1
Full Year (April 1, 2012-March 31, 2013):¥79.7/US$1 (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.

2. Others(1) Significant changes in scope of consolidation:
INPEX Oil and Gas Australia Pty Ltd and INPEX Gas British Columbia Ltd., newly included in consolidated subsidiaries due toincrease in their materiality, have been qualified as specified subsidiaries from the first quarter and the second quarter, 2012,
respectively, since their capital amounts exceed 10 percent of the Company’s capital amount by the increase in capital.
(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:2012/11/01 9:29:00

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印刷日時:12/11/05 17:59

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

As of March 31, 2012

As of September 30, 2012

(Assets)
Current assets
Cash and deposits

275,903

262,195

Accounts receivable-trade119,459

92,096

Marketable securities

399,382

332,346

Inventories

11,977

16,402

Other

114,992

113,981Less allowance for doubtful accounts(13,013)(12,887)

Total current assets

908,702804,134

383,697

477,425

Goodwill

94,601

91,221

Other

138,716

270,253

Total intangible assets

233,317

361,474

Investment securities

886,222732,353

Recoverable accounts under production
sharing

568,318

561,271

Other

193,806

262,909

(715)

(714)

(100,671)(100,801)(6,280)(4,598)

Total investments and other assets

1,540,679

1,450,419

Total fixed assets

2,157,695

2,289,320

3,066,397

3,093,454

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:2012/11/01 9:29:00

ァイル名:③H25.3_第2四半期BS【済】.doc

印刷日時:12/11/05 17:59(Millions of yen)Accounts

As of March 31, 2012

As of September 30, 2012

(Liabilities)
Current liabilities
Accounts payable-trade30,22831,841

Short-term loans

4,801

4,684

139,144

103,502

5,551

5,705

Accrued bonuses to officers

128

65

Asset retirement obligations

3,337

3,823

Other

184,651

161,854

Total current liabilities

367,843

311,477

313,972

320,191

Accrued retirement benefits to employees

6,340

6,329

Accrued special repair and maintenance

367

310

Asset retirement obligations

9,804

9,501

Other

53,87558,507

Total long-term liabilities

384,361

394,841

Total liabilities

752,204

706,318

Common stock

290,809290,809

Capital surplus

679,287

679,287

Retained earnings

1,219,526

1,316,305

Treasury stock(5,248)(5,248)2,184,375

2,281,154

Unrealized holding gain (loss) on securities

6,952(2,602)

Unrealized gain (loss) from hedging
instruments

4,118(2,968)Translation adjustments(16,195)(30,720)

Total accumulated other comprehensive
income(5,124)(36,290)

Minority interests

134,941

142,272

Total net assets

2,314,193

2,387,136

Total liabilities and net assets

3,066,397

3,093,454

Income taxes payable
Provision for exploration projects

Long-term liabilities
Long-term debt

(Net assets)
Shareholders’ equity

Total shareholders’ equity
Accumulated other comprehensive income6ァイル名:④H25.3第2四半期_PL_包括利益【済】.doc

更新日時(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income

Accounts(Millions of yen)
For the six months ended
September 30, 2012

For the six months ended
September 30, 2011

Net sales

573,165

578,505

Cost of sales

199,425

201,981

Gross profit

373,740

376,523

Exploration expenses

10,535

4,090

Selling, general and administrative expenses

35,14334,433Operating income

328,060

337,999

Interest income

2,095

3,101

Dividend income

2,184

2,017

47

5,122

Equity in earnings of affiliates

4,035

2,821

Gain on change in equity

6,685

―

―

22,743Foreign exchange gain

1,986

472

Other

2,800

3,008

Total other income

19,83539,287

574

585

9,145

3,239

845

2,251

Loss on valuation of investment securities

2,357

4,924

Other

2,488

2,459

Total other expenses

15,411

13,459Ordinary income

332,484

363,828

Income before income taxes and minority interests

332,484

363,828

Income taxes-current

245,369

236,261

Income taxes-deferred

4,083

12,031

Total income taxes

249,453

248,293

Income before minority interests

83,030115,534

Minority interests

8,634

4,152

Net income

74,396111,382

Other income

Gain on sales of investment securities

Gain on transfer of mining rights

Other expenses
Interest expense
Provision for allowance for recoverable accounts under
production sharing
Provision for exploration projects

7ァイル名:④H25.3第2四半期_PL_包括利益【済】.doc

更新日時

Consolidated Statements of Comprehensive Income(Millions of yen)Accounts

For the six months ended
September 30, 2011

For the six months ended
September 30, 2012

83,030115,534(13,542)(9,561)―(7,086)

Translation adjustments(239)(15,088)

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

(220)

553

Total other comprehensive income(14,002)(31,183)

Comprehensive income

69,02884,351

Shareholders of INPEX CORPORATION

60,42180,216

Minority interests

8,607

4,135

Income before minority interests
Other comprehensive income
Unrealized holding loss on securities
Unrealized loss from hedging instruments

Total comprehensive income attributable to8

- 9 - - 9 -ファイル名:⑤(3) Consolidated Statements of Cash Flows(Millions of yen)
For the six months
ended September 30, 2011

For the six months
ended September 30, 2012

Income before income taxes and minority interests

332,484

363,828

Depreciation and amortization

23,72225,968

Amortization of goodwill

3,380

3,380

Provision for allowance for recoverable accounts
under production sharing

11,906

4,575

Provision for exploration projects

(320)

125

Provision for accrued retirement benefits to employees

(405)

40

Other provisions

652

523

(4,279)(5,119)574

585

Foreign exchange gain

(4,623)(1,240)Equity in earnings of affiliates(4,035)(2,821)Gain on transfer of mining rights－(22,743)

Gain on sales of investment securities(47)(5,122)29,09526,304(11,172)(4,606)(5,518)27,313248(4,447)

Accounts payable-trade

2,900

1,741

Other

6,837

(17,748)

Subtotal

381,399

390,538

Interest and dividends received

6,826

7,931

Interest paid

(622)

(617)

Income taxes paid

(249,000)(287,199)

Net cash provided by operating activities

138,602110,652

Accounts
Cash flows from operating activities

Interest and dividend income
Interest expense

Recovery of recoverable accounts under
production sharing (capital expenditures)
Recoverable accounts under production
sharing (operating expenditures)
Accounts receivable-trade
Inventories9

- 10 - - 10 -ファイル名:⑤(Millions of yen)
For the six months
ended September 30, 2011

For the six months
ended September 30, 2012

Increase in time deposits(6,576)(64,175)

Decrease in time deposits

829

57,763

Decrease in long-term deposits

－

5,000

(23,611)(67,987)

Proceeds from sales of tangible fixed assets

83

57

Payments for purchases of intangible assets

(662)

(658)

－

(2,600)91,114

157,184(196,531)(23,134)

20,304

26,428(43,255)(41,271)

Decrease in short-term loans receivable

2,678

749

Long-term loans made(2,873)(91,658)

Collection of long-term loans receivable

3,562

50

Payments for purchase of mining rights－(157,634)

Proceeds from transfer of mining rights－

17,165(1,059)3,740(155,996)(180,979)

Decrease in short-term loans

(60)

－

Proceeds from long-term debt

19,961

20,939

Repayments of long-term debt

(2,160)(1,999)Proceeds from minority interests for additional shares

9,574

7,134

Cash dividends paid

(10,956)(14,610)

Dividends paid to minority shareholders(3,939)(3,939)

(21)

(17)

Accounts
Cash flows from investing activities

Payments for purchases of tangible fixed assets

Payments for purchases of marketable securities
Proceeds from sales and redemptions of marketablesecurities
Payments for purchases of investment securities
Proceeds from sales and redemptions of investment
securities
Investment in recoverable accounts under
production sharing (capital expenditures)

Other
Net cash used in investing activities
Cash flows from financing activities

Other
Net cash provided by financing activities
Effect of exchange rate changes on cash and cash
equivalents

12,397

7,506(7,438)(10,081)

Net decrease in cash and cash equivalents(12,435)(72,901)

Cash and cash equivalents at beginning of the period

182,025

249,233

750

439

－

(858)

170,339

175,913

Increase in cash and cash equivalents from newly
consolidated subsidiaries
Decrease in cash and cash equivalents resulting fromexclusion of subsidiaries from consolidation
Cash and cash equivalents at end of the period10

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印刷日時:12/11/05 18:01(4) Conditions or events that indicate there could be substantial doubt about the Company’s ability to continue as a going concern
For the six months ended September 30, 2012 (April 1, 2012 through September 30, 2012):
None

11

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印刷日時:12/11/05 18:01(5) Segment information
I For the six months ended September 30, 2011 (April 1, 2011 through September 30, 2011)
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

49,949231,63145,036

243,900

2,646

573,165―

573,165

―

―

―

―

―

―

―

―

Total

49,949231,63145,036

243,900

2,646

573,165―

573,165

Segment income (loss)

5,971

137,152

25,457

171,503(6,662)

333,423(5,362)

328,060

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

Note: 1. Adjustments of segment income of ¥(5,362) million include elimination of inter-segment transactions of ¥115 million andcorporate expenses of ¥(5,478) 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 statements of income.
2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
None

II

For the six months ended September 30, 2012 (April 1, 2012 through September 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

53,415

252,20736,402

234,204

2,275

578,505―

578,505

―

―

―

―

―

―

―

―

Total

53,415

252,20736,402

234,204

2,275

578,505―

578,505

Segment income (loss)

9,283

153,453

17,360164,319(1,537)

342,879(4,879)337,999

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

Note: 1. Adjustments of segment income of ¥(4,879) million include elimination of inter-segment transactions of ¥113 million andcorporate expenses of ¥(4,992) 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 statements of income.
2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
None

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更新日時:2012/11/01 9:44:00

ファイル名:⑥H25.3第2四半期セグメント-継続企業【済】.doc(6) Note on significant changes in shareholders’ equity
For the six months ended September 30, 2012 (April 1, 2012 through September 30, 2012):
None(7) Subsequent events
For the six months ended September 30, 2012 (April 1, 2012 through September 30, 2012):
None

13

印刷日時:12/11/05 18:01

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 six months ended
September 30, 2011
0.6 MMbbls(3.1 Mbbls per day)18.5 Bcf(101.2 MMcf per day)
4.1 MMboe(22.1 Mboe per day)
117.8 Mkl
(741.1 Mbbls)
204.7 tons

For the six months ended
September 30, 2012
0.6 MMbbls(3.4 Mbbls per day)20.4 Bcf(111.7 MMcf per day)
4.5 MMboe(24.4 Mboe per day)
111.8 Mkl
(703.3 Mbbls)
205.6 tons

98.2 millions kWh

84.6 millions kWh

9.4 MMbbls(51.5 Mbbls per day)
150.3 Bcf
(821.5 MMcf per day)
38.5 MMboe(210.4 Mboe per day)
4.7 MMbbls(25.8 Mbbls per day)27.9 MMbbls(152.5 Mbbls per day)
1.0 MMbbls(5.4 Mbbls per day)14.0 Bcf(76.5 MMcf per day)
3.5 MMbbls(19.1 Mboe per day)
43.6 MMbbls(238.4 Mbbls per day)
182.9 Bcf
(999.3 MMcf per day)78.7 MMboe(430.1 Mboe per day)
117.8 Mkl
(741.1 Mbbls)
204.7 tons

11.8 MMbbls(64.5 Mbbls per day)
116.9 Bcf
(638.9 MMcf per day)
34.0 MMboe(185.6 Mboe per day)
4.7 MMbbls(25.5 Mbbls per day)28.5 MMbbls(155.8 Mbbls per day)
0.1 MMbbls(0.5Mbbls per day)12.9 Bcf(70.3 MMcf per day)
2.4 MMboe(13.1 Mboe per day)
45.7 MMbbls(249.6 Mbbls per day)
150.2 Bcf
(821.0 MMcf per day)
74.0 MMboe(404.3 Mboe per day)
111.8 Mkl
(703.3 Mbbls)
205.6 tons

98.2 millions kWh

84.6 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 six months ended September 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 62.0 MMbbls (338.8 Mbbls perday) of crude oil, 259.0 Bcf (1,415.0 MMcf per day) of natural gas, and in total 111.8 MMboe (610.9 Mboe per day) for the six
months ended September 30, 2011, and 61.0 MMbbls (333.2 Mbbls per day) of crude oil, 209.9 Bcf (1,146.7 MMcf per day) of
natural gas, and in total 100.4 MMboe (548.8 Mboe per day) for the six months ended September 30, 2012.
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 the first decimal place.
10. Subtotal of the production volume of crude oil and natural gas for the six months ended September 30, 2011 has been changed
reflecting the change in method to convert the volume from natural gas to crude oil from the year ended March 31, 2012.

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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

72 Mbbls711

3 Mbbls

27

28,427 MMcf

32,61629,096 MMcf

36,275

121 Mbbls

1,443

131 Mbbls

1,484

Other

15,177

15,626

Subtotal

49,94953,415Crude oil
Natural gas(excluding LPG)
LPG

6,619 Mbbls

62,202

10,710 Mbbls

96,928142,153 MMcf

166,579

112,423 MMcf

142,297

2,850

2,023 Mbbls

409 Mbbls

Subtotal
Eurasia(Europe & NIS)
Middle East & Africa

231,6314,864 Mbbls

45,036

4,169 Mbbls

36,402

Crude oil

27,551 Mbbls

243,900

27,205 Mbbls

234,204

32 Mbbls

250

33 Mbbls

293

13,873 MMcf

2,396

12,043 MMcf

1,981

2,646

Crude oil
Natural gas(excluding LPG)
LPG

Total

12,982
252,207

Crude oil

Crude oil
Natural gas(excluding LPG)
Subtotal

Americas(Millions of yen)
For the six months ended
September 30, 2012
Sales volume
Net sales

For the six months ended
September 30, 2011
Sales volume
Net sales

2,275

39,139 Mbbls

352,101

42,120 Mbbls

367,857

184,454 MMcf

201,592

153,562 MMcf

180,5544,293

2,154 Mbbls

530 Mbbls

14,467

Other

15,177

15,626

Total

573,165

578,505

Notes: 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 six months ended June 31 except those subsidiaries prepared their financial statements for consolidation purpose as of theconsolidation 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 six months
ended September 30, 2011
Customer

PERTAMINA

For the six months
ended September 30, 2012

Amounts

Ratio

Amounts

Ratio（Millions of yen）(%)

（Millions of yen）(%)

104,18318.2

15106,523

18.4