ファConsolidated Financial Results for the Nine Months ended December 31, 2013 [Japanese GAAP]
February 7, 2014
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: February 12, 2014

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

Meeting of quarterly financial results presentation: No(Amounts less than one million yen are rounded off)

1. Consolidated Financial Results for the Nine Months ended December 31, 2013 (April 1, 2013-December 31, 2013)(1) Consolidated operating results(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales
For the nine months ended
December 31, 2013

Operating income

Ordinary income

Millions of Yen%

996,901

12.2

547,2776.8

543,748

888,3182.8

512,5521.0

517,138

December 31, 2012%

Millions of Yen

Net income%

Millions of Yen%

5.1

107,068(22.0)

2.3

137,297

18.5

Millions of Yen(Note): Consolidated comprehensive income: for the nine months ended December 31, 2013, ¥264,318 million; (46.6%)
for the nine months ended December 31, 2012, ¥180,262 million; (81.0%)

Net income pershare—basic
For the nine months ended
December 31, 2013
December 31, 2012

Net income pershare—diluted
Yen

Yen

―
―

73.32
94.02

(Note): The Company conducted a stock split at a ratio of 1:400 of common stock with October 1, 2013 as the effective date. Net income per share is
calculated based on the assumption that the stock split was conducted on April 1, 2012.

(2) Consolidated financial position
Total assets
Millions of Yen

As of December 31, 2013
As of March 31, 2013

3,962,109
3,616,158

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

Net assets

2,913,448
2,670,983

68.5
68.6

(Reference): Net assets excluding minority interests: as of December 31, 2013, ¥2,715,691 million
as of March 31, 2013, ¥2,481,292 million

2. Dividends
Cash dividends per share
For the year ended
March 31, 2013
For the year ending
March 31, 2014

At 1st quarter end

At 2nd quarter end

At 3rd quarter end

At fiscal year end

Yen

Yen

Yen

Yen

Total
Yen

―

3,500.00―

3,500.00

7,000.00―

3,600.00

For the year ending
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 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 ”.

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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 year)
Net income per
Net sales
Operating income
Ordinary income
Net income
share
Yen
% Millions of Yen% Millions of Yen% Millions of Yen%
Millions of Yen
For the year ending
8.3
2.0
0.3
1,317,000
707,000
720,000
160,000 (12.5)
109.56
March 31, 2014
(Note):1. Changes in forecasted consolidated financial results for the year ending March 31, 2014 from the previous forecast: Yes
2. Forecast information about net income per share for the fiscal year ending March 31, 2014 is provided after taking into consideration theeffect of the stock split conducted at a ratio of 1:400 as to common stock with October 1, 2013 as the effective date.

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: None1,462,323,600 shares as of December 31, 2013
1,462,323,600 shares as of March 31, 2013
1,966,400 shares as of December 31, 2013
1,966,400 shares as of March 31, 2013
1,460,357,200 shares for the nine months ended December 31, 2013
1,460,357,200 shares for the nine months ended December 31, 2012

(Note): The Company conducted a stock split at a ratio of 1:400 of common stock with October 1, 2013 as the effective date. Number of shares issued
is calculated based on the assumption that the stock split was conducted on April 1, 2012. For Class A stock (which is not listed), no stock split
was 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 conducted 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

At fiscal year end

Total

Yen

Yen

Yen

Yen

Yen

―

3,500.00―

3,500.00

7,000.00―

3,600.00―

3,600.00

7,200.00* The Company conducted 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 was 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. 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

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

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

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

7

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

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) ……………………………………………………………………………………………...............

13

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

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

14

2.

4.

1

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1. Qualitative Information / Financial Statements(1) Explanation on Consolidated Financial Results
During the nine months ended December 31, 2013, consolidated net sales were ¥996.9 billion (increased by ¥108.5 billion, or
12.2%, from the corresponding period of the previous fiscal year) due to the depreciation of Japanese yen against U.S. dollar. Net
sales of crude oil increased by ¥72.8 billion, or 12.6%, to ¥649.9 billion, and net sales of natural gas increased by ¥44.6 billion, or
15.5%, to ¥332.3 billion. Sales volume of crude oil decreased by 4,999 thousand barrels, or 7.6%, to 60,389 thousand barrels.
Sales volume of natural gas increased by 8,482 million cf, or 3.6%, to 241,776 million cf. Sales volume of overseas natural gas
increased by 7,790 million cf, or 4.2%, to 195,363 million cf, and sales volume of domestic natural gas increased by 19 million㎥, or 1.5%, to 1,244 million ㎥ (46,414 million cf). The average sales price of overseas crude oil decreased by US$1.99, or
1.8 %, to US$107.76 per barrel, and the average sales price of overseas natural gas decreased by US$0.55, or 4.0%, to US$13.05
per thousand cf. On the other hand, the average sales price of domestic natural gas increased by ¥3.15, or 6.7%, to ¥50.07 per ㎥.
The average exchange rate of Japanese yen against U.S. dollar on consolidated net sales depreciated by ¥19.43, or 24.3%, to¥99.43 per U.S. dollar from the corresponding period of the previous fiscal year.
The increase of ¥108.5 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 ¥39.9 billion and ¥21.1 billion, respectively, thedepreciation of Japanese yen against U.S. dollar contributing ¥178.5 billion to the increase, and a decrease in net sales excluding
crude oil and natural gas of ¥8.8 billion.
Cost of sales for the nine months ended December 31, 2013 increased by ¥53.9 billion, or 17.3%, to ¥366.2 billion due mainly tothe depreciation of Japanese yen against U.S. dollar. Exploration expenses increased by ¥13.4 billion, or 161.6%, to ¥21.7 billion
due mainly to an increase in exploration activities in the Middle East and Africa region. Selling, general and administrative
expenses increased by ¥6.4 billion, or 11.7%, to ¥61.6 billion. As a result, operating income increased by ¥34.7 billion, or 6.8%,
to ¥547.2 billion.
Other income decreased by ¥15.3 billion, or 37.0 %, to ¥26.0 billion due to decreases in gain on transfer of mining rights andequity in earnings of affiliates. Other expenses decreased by ¥7.2 billion, or 19.6%, to ¥29.6 billion due to a decrease in foreignexchange loss. As a result, ordinary income and income before income taxes and minority interests increased by ¥26.6 billion, or
5.1%, to ¥543.7 billion.
Total amount of current income taxes decreased by ¥10.2 billion, or 2.6%, to ¥381.0 billion, and deferred income taxes were ¥54.6
billion, income before minority interests decreased by ¥32.0 billion, or 22.9%, to ¥108.0 billion, and minority interests were ¥0.9
billion. As a result of the above effects, net income for the nine months ended December 31, 2013 decreased by ¥30.2 billion, or
22.0%, to ¥107.0 billion from the corresponding period of the previous fiscal year.

Financial results by segment are as follows:
1)

Japan
Net sales decreased by ¥0.3 billion, or 0.4%, to ¥82.9 billion due to a decrease in sales volume of petroleum products. Operating
income decreased by ¥6.3 billion, or 39.5%, to ¥9.7 billion due mainly to an increase in exploration expenses.
2) Asia & Oceania
Net sales decreased by ¥3.8 billion, or 1.1%, to ¥360.6 billion due to decreases in sales price of crude oil and sales volume,
despite the depreciation of Japanese yen against U.S. dollar. Operating income decreased by ¥18.6 billion, or 8.6%, to ¥196.6
billion due mainly to an increase in operating expenses by the depreciation of Japanese yen against U.S. dollar.
3) Eurasia (Europe & NIS)
Net sales increased by ¥16.1 billion, or 27.3%, to ¥75.4 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 ¥5.0 billion, or 18.4%, to¥32.6 billion.
4) Middle East & Africa
Net sales increased by ¥92.9 billion, or 24.6%, to ¥470.7 billion due to the depreciation of Japanese yen against U.S. dollar andan increase in sales volume, despite a decrease in sales price of crude oil. Operating income increased by ¥55.6 billion, or 21.0%,
to ¥321.0 billion.
5) Americas
Net sales increased by ¥3.6 billion, or 104.8%, to ¥7.1 billion due to an increase in sales volume of natural gas. Meanwhile,
operating loss increased by ¥0.7 billion, or 15.8%, to ¥5.2 billion due to an increase in operating expenses.

2ファ(2) Explanation on Consolidated Financial Position
Total assets as of December 31, 2013 increased by ¥345.9 billion to ¥3,962.1 billion from ¥3,616.1 billion as of March 31, 2013.
This is due mainly to an increase in fixed assets by ¥303.4 billion owing to increases in tangible fixed assets and intangible assets.
Meanwhile, total liabilities increased by ¥103.4 billion to ¥1,048.6 billion from ¥945.1 billion as of March 31, 2013. Current
liabilities decreased by ¥39.5 billion to ¥375.3 billion and long-term liabilities increased by ¥143.0 billion to ¥673.2 billion.
Net assets increased by ¥242.4 billion to ¥2,913.4 billion. Minority interests in net assets increased by ¥8.0 billion to ¥197.7
billion.
Cash and cash equivalents as of December 31, 2013 totaled ¥124.6 billion reflecting a net decrease of ¥75.2 billion from ¥199.8
billion at beginning of the period.
Cash flows from operating activities, investing activities and financing activities are as follows:
Note that net cash increased by ¥54.1 billion due to the effect of exchange rate changes on cash and cash equivalents.
1) Cash flows from operating activities
Net cash provided by operating activities was ¥126.9 billion (decreased by ¥47.9 billion from the corresponding period of theprevious fiscal year). This is due mainly to an increase in income taxes paid and recoverable accounts under production
sharing (operating expenditures), despite an increase in income before income taxes and minority interests.
2) Cash flows from investing activities
Net cash used in investing activities increased by ¥17.7 billion to ¥297.1 billion. This is due mainly to an occurrence of
payments for long-term time deposits and an increase in payments for purchase of tangible fixed assets, despite a decrease inpayments for purchase of mining rights and a decrease in long-term loans made.
3) Cash flows from financing activities
Net cash provided by financing activities increased by ¥1.2 billion to ¥40.7 billion. This is due mainly to an increase inproceeds from long-term debt, despite a decrease in proceeds from minority interests for additional shares.

(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results
Forecasts for consolidated financial results for the year ending March 31, 2014 have been revised from the previous forecastspresented on November 7, 2013, taking into consideration the consolidated financial results for the nine months ended December
31, 2013.
Forecasts for consolidated financial results for the year ending March 31, 2014
Operating
Net sales
incomePrevious Forecasts: A
1,268,000
651,000
Revised Forecasts: B
Increase (Decrease): B－A
Percentage change (%)(Millions of yen)
Ordinary
income671,000

Net income
153,000

1,317,000

707,000

720,000

160,000

49,00056,00049,000

7,000

3.9

8.6

7.3

4.6

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

1 Half (April 1, 2013-September 30, 2013):
1 Half (April 1, 2013-September 30, 2013):
US$106.5/bbl (Actual)
US$106.5/bbl (Actual)
2nd Half (October 1, 2013-March 31,2014):
2nd Half (October 1, 2013-March 31, 2014):
Crude oil price(Brent)
US$100.0/bbl
US$104.7/bbl
Full Year (April 1, 2013-March 31, 2014):
Full Year (April 1, 2013-March 31, 2014):
US$103.3/bbl (Average)
US$105.6/bbl (Average)
1st Half (April 1, 2013-September 30, 2013):
1st Half (April 1, 2013-September 30, 2013):¥98.9/US$ (Actual)¥98.9/US$ (Actual)
2nd Half (October 1, 2013-March 31,2014):
2nd Half (October 1, 2013-March 31,2014):
Exchange rate
¥95.0/US$¥102.7/US$
Full Year (April 1, 2013-March 31, 2014):
Full Year (April 1, 2013-March 31, 2014):¥96.9/US$ (Average)¥100.8/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.

3

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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:2014/02/06 11:21:00 印刷日時:14/02/06 11:21

ァイル名:③H26.3第3四半期BS【チェック中】.doc

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

As of March 31, 2013

As of December 31, 2013

(Assets)
Current assets
Cash and deposits

483,814642,046

Accounts receivable-trade117,411

132,437

Marketable securities

281,642

202,498

Inventories

15,40926,280Other

223,145

162,801

Less allowance for doubtful accounts(14,919)(17,068)

Total current assets

1,106,504

1,148,996

Buildings and structures, net

102,965

149,430

Wells, net

19,77722,524

Machinery, equipment and vehicles, net

71,477

102,549

Land

19,56019,704

Construction in progress

359,429535,055

Other, net

11,33020,217

Total tangible fixed assets

584,541

849,482

Goodwill

87,84082,769Other292,314335,616

Total intangible assets

380,155

418,385

Investment securities

673,129

550,858

Recoverable accounts under production
sharing

590,565

658,553

Other

400,046

460,660

(793)

(865)

(112,870)(120,027)(5,119)(3,935)

Total investments and other assets

1,544,957

1,545,244

Total fixed assets

2,509,654

2,813,112

3,616,158

3,962,109

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:2014/02/06 11:21:00 印刷日時:14/02/06 11:21

ァイル名:③H26.3第3四半期BS【チェック中】.doc(Millions of yen)Accounts

As of March 31, 2013

As of December 31, 2013

(Liabilities)
Current liabilities
Accounts payable-trade

41,40150,509

Short-term loans

8,560

20,020

Income taxes payable

152,681

98,191

Provision for exploration projects

26,856

8,563

Accrued bonuses to officers

127

86

Asset retirement obligations

3,812

6,316

Other

181,536

191,707

Total current liabilities

414,976375,395

466,908

567,742

Accrued retirement benefits to employees

8,580

8,730

Provision for loss on business

3,705

4,154

277

242

Asset retirement obligations

13,581

18,836

Other

37,14473,558

Total long-term liabilities

530,198

673,265

Total liabilities

945,174

1,048,660

Common stock

290,809290,809

Capital surplus

679,287

679,287

Retained earnings

1,375,106

1,456,253

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

2,421,102

Unrealized holding gain on securities

34,741

65,196

Unrealized gain (loss) from hedging
instruments

16,243(28,782)

Translation adjustments

90,350258,173

Total accumulated other comprehensive
income141,336

294,588

Minority interests

189,691

197,757

Total net assets

2,670,983

2,913,448

Total liabilities and net assets

3,616,158

3,962,109

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3四半期_PL_包括利益【チェック中】.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 nine months ended
December 31, 2013

For the nine months ended
December 31, 2012

Net sales

888,318

996,901

Cost of sales

312,270

366,259

Gross profit

576,047

630,642

Exploration expenses

8,313

21,745

Selling, general and administrative expenses

55,181

61,618Operating income

512,552

547,277

Interest income

5,093

13,220

Dividend income

2,771

3,264

Equity in earnings of affiliates

1,624

―

Other

31,913

9,602

Total other income

41,402

26,087

1,015

1,702

―

1,915

Provision for allowance for recoverable accounts under
production sharing

9,071

4,670

Provision for exploration projects

4,645

827

Foreign exchange loss

17,774

11,590

Other

4,310

8,908

Total other expenses

36,816

29,616

Ordinary income

517,138

543,748

Income before income taxes and minority interests

517,138

543,748

Income taxes-current

391,339

381,076

Income taxes-deferred(14,280)

54,666

Total income taxes

377,059435,742

Income before minority interests

140,079

108,005

2,781

937

137,297

107,068

Other income

Other expenses
Interest expense
Equity in losses of affiliates

Minority interests
Net income7ァイル名:④H26.3第3四半期_PL_包括利益【チェック中】.doc

更新日時

Consolidated Statement of Comprehensive Income(Millions of yen)Accounts

For the nine months ended
December 31, 2012

For the nine months ended
December 31, 2013

140,079

108,005

Unrealized holding gain on securities

3,780

30,443

Unrealized gain (loss) from hedging instruments

11,060(20,887)

Translation adjustments

25,480167,158

Share of other comprehensive income of associates
accounted for by the equity method(138)(20,402)

Total other comprehensive income

40,183

156,312Comprehensive income

180,262

264,318

178,469

260,320

1,792

3,997

Income before minority interests
Other comprehensive income

Total comprehensive income attributable to
Shareholders of INPEX CORPORATION
Minority interests8

- 9 -- 9 -ファイル名:⑤(3) Consolidated Statement of Cash Flows(Millions of yen)
For the nine months
ended December 31, 2012

For the nine months
ended December 31, 2013

Income before income taxes and minority interests

517,138

543,748

Depreciation and amortization

41,026

36,623

Amortization of goodwill

5,070

5,070

Provision for allowance for recoverable accounts
under production sharing

10,198

11,425

Provision for exploration projects

5,062(18,511)

7

165

647

1,353

Interest and dividend income(7,865)(16,485)

Interest expense

1,015

1,702

Foreign exchange loss (gain)

17,855

17,615Equity in (earnings) losses of affiliates(1,624)

1,915

39,22248,801(14,051)(38,025)

Accounts receivable-trade(19,663)(16,167)

Inventories(4,820)(11,041)

Accounts payable-trade

10,509

9,261

Other

(46,222)(45,931)

Subtotal

553,506

531,519

Interest and dividends received

11,922

20,108Interest paid

(753)

(1,391)

Income taxes paid

(389,799)(423,310)

Net cash provided by operating activities

174,876

126,925

Accounts
Cash flows from operating activities

Provision for accrued retirement benefits to employees
Other provisions

Recovery of recoverable accounts under
production sharing (capital expenditures)
Recoverable accounts under production
sharing (operating expenditures)9

- 10 -- 10 -ファイル名:⑤(Millions of yen)
For the nine months
ended December 31, 2012

For the nine months
ended December 31, 2013

Payments for time deposits(115,687)(129,055)

Proceeds from time deposits

106,417

212,455

Payments for long-term time deposits―(355,909)

Proceeds from long-term time deposits

5,000

38,500(139,704)(234,547)

Proceeds from sales of tangible fixed assets

101

672

Payments for purchases of intangible assets(3,654)(2,676)

Payments for purchases of marketable securities(17,709)―

Proceeds from sales and redemptions of marketablesecurities

242,874

205,680

Payments for purchases of investment securities(51,877)(20,834)

38,55362,433(60,647)(78,038)799(3,241)(136,158)(34,855)

Collection of long-term loans receivable

88

74,833

Payments for purchase of mining rights(169,131)(33,487)

21,337962(279,400)(297,108)

Increase in short-term loans

2,672

1,633

Proceeds from long-term debt

31,697

67,238

Repayments of long-term debt

(2,810)(6,144)

Proceeds from minority interests for additional shares

39,3488,001

Cash dividends paid

(27,392)(25,936)

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

(45)

(64)

Accounts
Cash flows from investing activities

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 madeOther
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

39,52940,789(1,380)54,150Net decrease in cash and cash equivalents(66,374)(75,242)

Cash and cash equivalents at beginning of the period

249,233

199,858

439

―

(858)

―

182,440

124,616

Increase in cash and cash equivalents from newly
consolidated subsidiary
Decrease in cash and cash equivalents resulting fromexclusion of subsidiaries from consolidation
Cash and cash equivalents at end of the period10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 nine months ended December 31, 2013 (April 1, 2013 through December 31, 2013):
None(Note on significant changes in shareholders’ equity)
For the nine months ended December 31, 2013 (April 1, 2013 through December 31, 2013):
None

11

ファイル名(Segment information)
I

For the nine months ended December 31, 2012 (April 1, 2012 through December 31, 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

83,288364,513

59,211

377,792

3,511

888,318－

888,318

－

－

－

－

－

－

－

－

Total

83,288364,513

59,211

377,792

3,511

888,318－

888,318

Segment income (loss)

16,169215,269

27,589265,386(4,539)519,875(7,323)

512,552

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

Note: 1. Adjustments of segment income of ¥(7,323) million include elimination of inter-segment transactions of ¥169 million andcorporate expenses of ¥(7,492) 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 nine months ended December 31, 2013 (April 1, 2013 through December 31, 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

82,971

360,62975,404

470,704

7,191

996,901－

996,901

－

－

－

－

－

－

－

－

Total

82,971

360,62975,404

470,704

7,191

996,901－

996,901

Segment income (loss)

9,787

196,655

32,668321,039(5,257)554,893(7,616)547,277

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

Note: 1. Adjustments of segment income of ¥(7,616) million include elimination of inter-segment transactions of ¥168 million andcorporate expenses of ¥(7,784) 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

12

ファイル名(Subsequent events)
For the nine months ended December 31, 2013 (April 1, 2013 through December 31, 2013):
None

13

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 nine months ended
December 31, 2012
1.0 MMbbls(3.5 Mbbls per day)
32.4 Bcf(117.9 MMcf per day)
7.1 MMboe(25.6 Mboe per day)
157.5 Mkl
(991.0 Mbbls)
316.8 tons

For the nine months ended
December 31, 2013
0.9 MMbbls(3.2 Mbbls per day)29.9 Bcf(108.9 MMcf per day)
6.5 MMboe(23.7 Mboe per day)－Mkl(－Mbbls)
339.4 tons

133.0 million kWh

162.9 million kWh

16.8 MMbbls(61.1 Mbbls per day)
174.3 Bcf
(634.0 MMcf per day)
49.7 MMboe(180.8 Mboe per day)
6.9 MMbbls(25.1 Mbbls per day)
43.0 MMbbls(156.4 Mbbls per day)
0.1 MMbbls(0.5Mbbls per day)22.6 Bcf(82.3 MMcf per day)
4.2 MMboe(15.1 Mboe per day)
67.8 MMbbls(246.6 Mbbls per day)229.4 Bcf
(834.2 MMcf per day)
110.8 MMboe(403.1 Mboe per day)
157.5 Mkl
(991.0 Mbbls)
316.8 tons

12.7 MMbbls(46.2 Mbbls per day)
179.6 Bcf
(653.1 MMcf per day)46.5 MMboe(169.2 Mboe per day)
7.2 MMbbls(26.3 Mbbls per day)46.1 MMbbls(167.7 Mbbls per day)
0.4 MMbbls(1.5 Mbbls per day)29.7 Bcf(107.9 MMcf per day)
5.6 MMboe(20.4 Mboe per day)
67.3 MMbbls(244.9 Mbbls per day)239.2 Bcf
(869.9 MMcf per day)
112.0 MMboe(407.3 Mboe per day)－Mkl(－Mbbls)
339.4 tons

133.0 million kWh

162.9 million 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 nine months ended December 31 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 90.2 MMbbls (328.1 Mbbls perday) of crude oil, 315.8 Bcf (1,148.4 MMcf per day) of natural gas, and in total 149.7 MMboe (544.4 Mboe per day) for the ninemonths ended December 31, 2012, and 89.9 MMbbls (326.8 Mbbls per day) of crude oil, 322.1 Bcf (1,171.4 MMcf per day) of
natural gas, and in total 150.2 MMboe (546.3 Mboe per day) for the nine months ended December 31, 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.

14

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

86 Mbbls

794

572 Mbbls

6,119

45,722 MMcf

57,483

46,414 MMcf

62,276138 Mbbls

1,603

6 Mbbls56

Other

23,407

14,519Subtotal

83,28882,971

Crude oil
Natural gas(excluding LPG)
LPG

15,385 Mbbls

138,963

9,122 Mbbls

97,332

168,637 MMcf

207,014

166,125 MMcf

246,324

18,5352,175 Mbbls

2,779 Mbbls

Subtotal
Eurasia(Europe & NIS)
Middle East & Africa

16,972360,629

Crude oil

6,688 Mbbls

59,211

6,867 Mbbls

75,404Crude oil

43,185 Mbbls

377,792

43,794 Mbbls

470,704

44 Mbbls383

33 Mbbls

422

18,936 MMcf

3,127

29,238 MMcf

6,769

3,511

Crude oil
Natural gas(excluding LPG)
LPG

Total

Notes:

364,513

Crude oil
Natural gas(excluding LPG)
Subtotal

Americas(Millions of yen)
For the nine months ended
December 31, 2013
Sales volume
Net sales

For the nine months ended
December 31, 2012
Sales volume
Net sales

7,191

65,388 Mbbls

577,145

60,389 Mbbls

649,983

233,295 MMcf

267,626

241,776 MMcf

315,370

2,917 Mbbls

20,1392,181 Mbbls

17,028Other

23,407

14,519Total

888,318

996,901

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 nine months ended December 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 nine months ended
December 31, 2012
Customer

For the nine months ended
December 31, 2013

Amounts

Ratio

Amounts

Ratio（Millions of yen）(%)

（Millions of yen）(%)

PERTAMINA

152,28817.1

163,057

16.4

Idemitsu Kosan
Co.,Ltd.

87,6089.9

110,72811.1

15