ファConsolidated Financial Results for the Nine Months ended December 31, 2011 [Japanese GAAP]
February 3, 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: February 9, 2012

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 Nine Months ended December 31, 2011 (April 1, 2011-December 31, 2011)(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, 2011

Operating income

Ordinary income

Millions of yen%

Millions of yen

864,03926.7

507,32833.9

681,89910.7

378,795

12.8

December 31, 2010

% Millions of yen

Net income%

Millions of yen%

505,718

38.4

115,85628.6

365,495

13.9

90,108

11.7(Note): Consolidated comprehensive income: for the nine months ended December 31, 2011, ¥99,582 million; (43.9%)
for the nine months ended December 31, 2010, ¥69,201 million; (―%)

Net income pershare—basic
For the nine months ended
December 31, 2011
December 31, 2010

Net income pershare—diluted

Yen

Yen

31,733.72
30,014.30――(2) Consolidated financial position
Total assets
Millions of yen

As of December 31, 2011
As of March 31, 2011

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

Net assets

2,899,862
2,680,379

2,174,089
2,097,382

71.2
74.5

(Reference): Net assets excluding minority interests: as of December 31, 2011, ¥2,065,354 million
as of March 31, 2011, ¥1,996,888 million

2. Dividends
Cash dividends per share
For the year ended
March 31, 2011
For the year ending
March 31, 2012

At 1st quarter end

At 2nd quarter end

At 3rd quarter end

At fiscal year end

Yen

Yen

Yen

Yen

Yen

―

3,000.00―

3,000.00

6,000.00―

3,000.00

For the year ending
3,000.00―
March 31, 2012 (forecast)(Note): Changes in projected dividends for the year ending March 31, 2012 from the previous forecast: None

Total

6,000.00

3. Forecasted Consolidated Financial Results for the year ending March 31, 2012 (April 1, 2011-March 31, 2012)(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
1,126,000
19.4
658,000
24.2
717,000
41.0
175,000
36.0
March 31, 2012
(Note): Changes in forecasted consolidated financial results for the year ending March 31, 2012 from the previous forecast: Yes

Net income per
share
Yen

47,933.47

ファ

4. Others: Yes(1) Significant changes in scope of consolidation(Changes in the specified subsidiaries during the period due to change in scope of consolidation (twocompanies) )Newly included: INPEX Holdings Australia Pty Ltd, INPEX Ichthys Pty Ltd(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 December 31, 2011
3,655,810 shares as of March 31, 2011
4,916 shares as of December 31, 2011
4,916 shares as of March 31, 2011
3,650,894 shares for the nine months ended December 31, 2011
3,002,194 shares for the nine months ended December 31, 2010

(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 ……………………………………………………………………………………………………………………...

3(1) Significant changes in scope of consolidation…………………………………………………………………………...

3(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements..…………...

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

3

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

4(1) Consolidated Balance Sheets………………………………………………………………………………………….....

4(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income………………………....
Consolidated Statements of Income……………………………………………………………………………………...

6
6

2.

4.

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

7(3) Conditions or events that indicate there could be substantial doubt about
the Company’s ability to continue as a going concern…………………………………………………………………..

8(4) Segment Information…………………………………………………………………………………………………......

9(5) Note on significant changes in shareholders’ equity……………………………………………………………………..

10(6) Subsequent events………………………………………………………………………………………………………..

10

Supplementary information……………………………………………………………………………………………….....

11(1) Production, orders received and sales performance……………………………………………………………………...

11

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ファ

1. Qualitative Information / Financial Statements(1) Qualitative Information on Consolidated Financial Results
During the nine months ended December 31, 2011, consolidated net sales were ¥864.0 billion (increased by ¥182.1 billion, or
26.7%, from the corresponding period of the previous fiscal year) due to an increase in sales price of crude oil and natural gas
despite the appreciation of Japanese yen against U.S. dollar. Net sales of crude oil increased by ¥122.2 billion, or 30.5%, to¥523.1 billion, and net sales of natural gas increased by ¥56.8 billion, or 21.8%, to ¥317.6 billion. Sales volume of crude oil
increased by 936 Mbbls, or 1.6%, to 59,022 Mbbls. Sales volume of natural gas decreased by 23,544 MMcf, or 7.9%, to 275,895
MMcf. Sales volume of overseas natural gas decreased by 23,626 MMcf, or 9.3%, to 231,011 MMcf, and sales volume ofdomestic natural gas increased by 2 MM㎥, or 0.2%, to 1,203 MM㎥ (44,884 MMcf). The average sales price of overseas crude
oil increased by US$32.55 per bbl, or 41.3 %, to US$111.33 per bbl, and the average sales price of overseas natural gas increased
by US$4.89 per Mcf, or 56.5%, to US$13.54 per Mcf. In addition, the average sales price of domestic natural gas increased by¥2.21, or 5.3%, to ¥43.79 per ㎥. The average exchange rate of Japanese yen against U.S. dollar on consolidated net sales
appreciated by ¥7.86, or 9.0%, to ¥79.10 per U.S. dollar from the corresponding period of the previous fiscal year.
The increase of ¥182.1 billion in net sales was mainly derived from the following factors: a decrease in sales volume of natural
gas pushing sales down of ¥14.9 billion, an increase in unit sales price contributing ¥271.7 billion to the increase, the appreciationof Japanese yen against U.S. dollar pushing sales down of ¥77.7 billion, and an increase in net sales excluding crude oil andnatural gas of ¥3.0 billion.
Cost of sales for the nine months ended December 31, 2011 increased by ¥49.0 billion, or 20.0%, to ¥293.9 billion due mainly to
an increase in royalty in the ADMA Block owing to an increase in sales. Exploration expenses increased by ¥0.8 billion, or 8.7%,
to ¥10.5 billion due mainly to an increase in exploration activities in Americas. Selling, general and administrative expenses
increased by ¥3.7 billion, or 7.6%, to ¥52.2 billion. As a result, operating income increased by ¥128.5 billion, or 33.9%, to ¥507.3
billion.
Other income increased by ¥5.4 billion, or 31.2 %, to ¥23.1 billion due to an increase in equity in earnings of affiliates and gain onchange in equity. Other expenses decreased by ¥6.1 billion, or 20.0%, to ¥24.7 billion due to a decrease in provision for
exploration projects and provision for allowance for recoverable accounts under production sharing, and absence of loss on
adjustment for changes of accounting standard for asset retirement obligations recorded in the corresponding period of theprevious fiscal year. As a result, ordinary income and income before income taxes and minority interests increased by ¥140.2
billion, or 38.4%, to ¥505.7 billion.
Total amount of current income taxes increased by ¥116.3 billion, or 45.1%, to ¥374.1 billion, and deferred income taxes were
¥6.3 billion, income before minority interests increased by ¥27.9 billion, or 28.7%, to ¥125.2 billion, and minority interests were
¥9.4 billion. As a result of the above effects, net income for the nine months ended December 31, 2011 increased by ¥25.7 billion,or 28.6%, to ¥115.8 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 ¥6.2 billion, or 8.6%, to ¥78.7 billion due to an increase in sales price of natural gas and petroleum
products. Operating income decreased by ¥3.3 billion, or 21.8%, to ¥12.0 billion due to an increase in net purchase of natural gas.
Asia & Oceania
Net sales increased by ¥46.5 billion, or 15.1%, to ¥355.5 billion due to an increase in sales price of crude oil and natural gas
despite a decrease in sales volume of crude oil and natural gas, and the appreciation of Japanese yen against U.S. dollar.
Operating income increased by ¥35.6 billion, or 19.8%, to ¥216.1 billion.
Eurasia (Europe & NIS)
Net sales increased by ¥14.8 billion, or 31.7%, to ¥61.7 billion due to an increase in sales price of crude oil, despite theappreciation of Japanese yen against U.S. dollar. Operating income increased by ¥10.3 billion, or 43.2%, to ¥34.2 billion.
Middle East & Africa
Net sales increased by ¥121.4 billion, or 50.0%, to ¥364.1 billion due to an increase in sales price and sales volume of crude oil,and operating income increased by ¥92.1 billion, or 55.2%, to ¥258.9 billion.
Americas
Net sales decreased by ¥6.9 billion, or 64.5%, to ¥3.8 billion due to a decrease in sales volume of crude oil, and operating loss
increased by ¥4.7 billion, or 326.1%, to ¥6.1 billion due to an increase in exploration expenses.

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(2) Qualitative Information on Consolidated Financial Position
Total assets as of December 31, 2011 increased by ¥219.4 billion to ¥2,899.8 billion from ¥2,680.3 billion as of March 31, 2011.
This is due mainly to an increase in cash and deposits by ¥140.6 billion, and an increase in marketable securities by ¥74.6 billion.
Meanwhile, total liabilities increased by ¥142.7 billion to ¥725.7 billion from ¥582.9 billion as of March 31, 2011. Current
liabilities increased by ¥111.5 billion to ¥366.2 billion and long-term liabilities increased by ¥31.2 billion to ¥359.5 billion as ofMarch 31, 2011.
Net assets increased by ¥76.7 billion to ¥2,174.0 billion. Minority interests in net assets increased by ¥8.2 billion to ¥108.7 billion.

(3) Qualitative Information on Forecasts for Consolidated Financial Results
Forecasts for consolidated financial results for the year ending March 31, 2012 have been revised from the previous forecast
presented on December 8, 2011, taking into consideration the consolidated financial results for the nine months ended December
31, 2011 and so on.
Forecasts for consolidated financial results for the year ending March 31, 2012
Operating
Net sales
incomePrevious Forecasts: A
1,068,000
600,000
Revised Forecasts: B(Millions of yen)
Ordinary
incomeNet income

669,000

165,000

1,126,000

658,000

717,000

175,000

58,00058,00048,00010,000

5.4

9.7

7.2

6.1

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

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

Revised Forecastsst

st

1 Half (April 1, 2011-September 30, 2011) :1 Half (April 1, 2011-September 30, 2011) :US$ 114.7/bbl (Actual)
US$ 114.7/bbl (Actual)
2nd Half (October 1, 2011- March 31, 2012) :2nd Half *1 (October 1, 2011- March 31, 2012) :Crude oil price(Brent)US$ 95.0/bbl
US$ 102.0/bbl
Full Year (April 1, 2011- March 31, 2012) :Full Year (April 1, 2011- March 31, 2012) :US$ 104.8/bbl (Average)
US$ 108.3/bbl (Average)
1st Half (April 1, 2011-September 30, 2011) :1st Half (April 1, 2011-September 30, 2011) :¥79.8/US$1 (Actual)¥79.8/US$1 (Actual)
2nd Half (October 1, 2011- March 31, 2012) :2nd Half *2 (October 1, 2011- March 31, 2012) :Exchange rate
¥75.0/US$1¥76.2/US$1
Full Year (April 1, 2011- March 31, 2012) :Full Year (April 1, 2011- March 31, 2012) :¥77.4/US$1 (Average)¥78.0/US$1 (Average)*1 3rd quarter (Actual) : US$ 109.0/bbl
4th quarter (Forecast) : US$ 95.0/bbl
4th quarter (Forecast) : ¥ 75.0/US$1*2 3rd quarter (Actual) : ¥ 77.4/US$1
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.
2. Others(1) Significant changes in scope of consolidation:
During the three months ended December 31, 2011, the Company has taken account of the impact of the asset transfer agreements
related to the Ichthys Project (WA-37-R). As a result, INPEX Holdings Australia Pty Ltd and INPEX Ichthys Pty Ltd qualified as
specified subsidiaries since their capital amounts exceed 10 percent of the Company’s capital amount. They have been included inconsolidated subsidiaries due to establishment of these companies during the three months ended September 30, 2011.
(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:
None

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印刷日時:12/02/03 13:21

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

As of March 31, 2011

As of December 31, 2011

(Assets)
Current assets
Cash and deposits

112,395

253,002

Accounts receivable-trade95,391

116,307

Marketable securities

207,165

281,780

Inventories

12,137

12,733

Other

78,983

83,031Less allowance for doubtful accounts(13,141)(12,327)

Total current assets

492,932

734,528

379,861

351,368

Goodwill

101,362

96,291

Other

147,748

142,167

Total intangible assets

249,110

238,459

Investment securities

975,541

964,614

Recoverable accounts under production
sharing534,330

572,649

Other

159,533

159,946

(270)

(229)

(96,879)(114,183)(13,780)(7,291)

Total investments and other assets

1,558,474

1,575,506

Total fixed assets

2,187,447

2,165,334

2,680,379

2,899,862

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 assets― 4 ―更新日時:2012/02/03 12:49:00

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印刷日時:12/02/03 13:21(Millions of yen)Accounts

As of March 31, 2011

As of December 31, 2011

(Liabilities)
Current liabilities
Accounts payable-trade23,441

27,277

Short-term loans

4,441

4,008

113,101

119,790

9,537

4,233

Accrued bonuses to officers

127

98

Asset retirement obligations

3,686

3,265

Other

100,393

207,561

Total current liabilities

254,728

366,235

268,706

295,274

Accrued retirement benefits to employees

6,979

6,532

Accrued special repair and maintenance

443

411

Asset retirement obligations

8,965

8,977

Other

43,173

48,343

Total long-term liabilities

328,268

359,538

Total liabilities

582,997725,773

Common stock

290,809290,809

Capital surplus

679,287

679,287

Retained earnings

1,047,431

1,141,382

Treasury stock(5,248)(5,248)2,012,280

2,106,231

1,455(8,286)

Translation adjustments(16,847)(32,590)

Total accumulated other comprehensive
income(15,391)(40,877)

Minority interests

100,493108,735

Total net assets

2,097,382

2,174,089

Total liabilities and net assets

2,680,379

2,899,862

Income taxes payable
Provision for exploration projects

Long-term liabilities
Long-term debt

(Net assets)
Shareholders’ equity

Total shareholders’ equity
Accumulated other comprehensive income
Unrealized holding gain (loss) on
securities― 5 ―ァイル名:④H24.3第3四半期_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(Millions of yen)Accounts

For the nine months ended
December 31, 2010

For the nine months ended
December 31, 2011

Net sales

681,899

864,039

Cost of sales

244,882

293,937

Gross profit

437,016

570,102

Exploration expenses

9,707

10,548Selling, general and administrative expenses

48,51452,225

Operating income

378,795

507,328

Interest income

2,987

3,143

Dividend income

3,143

3,066

Equity in earnings of affiliates

3,576

5,600

Gain on change in equity

3,644

6,685

Other

4,264

4,612

Total other income

17,616

23,108816

876

Provision for allowance for recoverable accounts under
production sharing

12,667

10,725

Provision for exploration projects

3,411

779

Loss on valuation of investment securities

1,140

5,391

Loss on adjustment for changes of accounting standard
for asset retirement obligations

1,555

―

Foreign exchange loss

1,920

2,618

Other

9,405

4,327

Total other expenses

30,91524,718

Ordinary income

365,495

505,718

Income before income taxes and minority interests

365,495

505,718

Income taxes-current

257,766

374,115

Income taxes-deferred

10,394

6,333

Total income taxes

268,160

380,449

Income before minority interests

97,334125,269

Minority interests

7,225

9,413

Net income

90,108115,856

Other income

Other expenses
Interest expense- 6 -ァイル名:④H24.3第3四半期_PL_包括利益【済】.doc

更新日時

Consolidated Statements of Comprehensive Income(Millions of yen)Accounts

For the nine months ended
December 31, 2010

For the nine months ended
December 31, 2011

97,334125,269

Unrealized holding loss on securities(12,958)(9,738)Translation adjustments(13,082)(14,339)

Share of other comprehensive income of associates
accounted for by the equity method(2,092)(1,608)

Total other comprehensive income(28,133)(25,687)

Comprehensive income

69,201

99,582

Shareholders of INPEX CORPORATION

64,54290,370Minority interests

4,658

9,211

Income before minority interests
Other comprehensive income

Total comprehensive income attributable to- 7 -ファイル名:⑥H24.3第3四半期セグメント-海外売上高-継続企業【済】.doc更新日時:2012/02/03 13:20:00

印刷日時:12/02/03 13:22(3) 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, 2011 (April 1, 2011 - December 31, 2011):
None

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印刷日時:12/02/03 13:22(4) Segment information
I For the nine months ended December 31, 2010 (April 1, 2010 - December 31, 2010)
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

72,531

309,02946,855

242,665

10,818681,899―

681,899

―

―

―

―

―

―

―

―

Total

72,531

309,02946,855

242,665

10,818681,899―

681,899

Segment income (loss)

15,356

180,503

23,925

166,846(1,449)385,182(6,387)

378,795

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

Note: 1. Adjustments of segment income of ¥(6,387) million include elimination of inter-segment transactions of ¥174 million andCorporate expenses of ¥(6,561) million. Corporate expenses are mainly amortization of goodwill that are not allocated to areportable segment and general administrative expenses.
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 nine months ended December 31, 2011 (April 1, 2011 - December 31, 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

78,794355,578

61,714364,1103,840

864,039―

864,039

―

―

―

―

―

―

―

―

Total

78,794355,578

61,714364,1103,840

864,039―

864,039

Segment income (loss)

12,010216,176

34,266258,993(6,178)515,268(7,940)507,328

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

Note: 1. Adjustments of segment income of ¥(7,940) million include elimination of inter-segment transactions of ¥171 million andcorporate expenses of ¥(8,111) million. Corporate expenses are mainly amortization of goodwill that are not allocated to areportable segment and general administrative expenses.
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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印刷日時:12/02/03 13:22(5) Note on significant changes in shareholders’ equity
For the nine months ended December 31, 2011 (April 1, 2011 - December 31, 2011):
None(6) Subsequent events
For the nine months ended December 31, 2011 (April 1, 2011 - December 31, 2011):
1. Transfer of interest by INPEX Masela, Ltd.
INPEX Masela, Ltd. (INPEX Masela), a consolidated subsidiary of the Company, has agreed with Shell Upstream Overseas Services (I)Limited to transfer a 30 % participating interest of Masela Block, the Arafura Sea, Indonesia, on July 22, 2011, for which INPEX Masela
is pursuing preparation for development. This transfer has come into effect on December 8, 2011, by acquiring the Indonesian Government approval, etc.
However, this transfer is not reflected on consolidated financial results for the nine months ended December 31, 2011. This is due to thedifference of closing date between the Company and INPEX Masela. As INPEX Masela’s closing date for fiscal year is December 31, its
financial results for the nine months ended September 30, 2011 are consolidated. Therefore, this transfer will be taken account of in the
Company’s consolidated financial results for the year ending March 31, 2012, and ordinary income and income before income taxes andminority interests are expected to increase by approximately 68.0 billion yen, respectively.
2. Final Investment Decision on Ichthys LNG project, Australia
The Company has made Final Investment Decision on Ichthys LNG project on January 13, 2012, that the Company is pursuing its development through its Australian entities such as INPEX Ichthys Pty Ltd, INPEX Operations Australia Pty Ltd which are the Company’s
subsidiaries, and Ichthys LNG Pty Ltd which is the Company’s affiliate accounted for by the equity method, with TOTAL E&P Ichthys.
1) Ichthys LNG Project: Gas from the Ichthys Field, in the Browse Basin offshore Western Australia, will undergo preliminary
processing offshore to remove water and raw liquids, including condensate. The gas will then be exported to the onshore processing
facilities in Darwin via an 889km pipeline.
2) CAPEX: US$34 billion (INPEX share (72.805%*) for US$24.7 billion (approximately ¥1,900 billion))
3) Production start target: by the end of 2016
4) Reserves: LNG production of 8.4 MM tonnes per year for approximately 20 years
5) Production:
LNG : 8.4 million tonnes per year
LPG : approximately 1.6 million tonnes per year
Condensate : approximately 100,000 barrels per day (at peak)*Out of the current INPEX's share (76%) the following participating interest will be transferred to Osaka Gas (1.2%), Toho Gas (0.42%)
and Tokyo Gas (1.575%) subject to Australian Government approval of the transfer. After the transfer, INPEX's project share will be
72.805% accordingly.

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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, 2010
1.0 MMbbls(3.5 Mbbls per day)
31.7 Bcf(115.3 MMcf per day)
6.3 MMboe(22.8 Mboe per day)
177.8 Mkl
(1,118.1 Mbbls)
324.0 tons

For the nine months ended
December 31, 2011
0.9 MMbbls(3.4 Mbbls per day)30.3 Bcf(110.3 MMcf per day)
6.0 MMboe(21.7 Mboe per day)
181.6 Mkl
(1,142.2 Mbbls)
317.3 tons

128.0 millions kWh

153.5 millions kWh

19.5 MMbbls(71.0 Mbbls per day)
246.8 Bcf
(897.5 MMcf per day)60.7 MMboe(220.6 Mboe per day)
7.7 MMbbls(28.2 Mbbls per day)
36.3 MMbbls(132.2 Mbbls per day)
2.1 MMbbls(7.5 Mbbls per day)23.0 Bcf(83.7 MMcf per day)
5.9 MMboe(21.5 Mboe per day)66.7 MMbbls(242.4 Mbbls per day)
301.6 Bcf
(1,096.6 MMcf per day)
116.9 MMboe(425.2 Mboe per day)
177.8 Mkl
(1,118.1 Mbbls)
324.0 tons

17.2 MMbbls(62.4 Mbbls per day)
213.0 Bcf
(774.4 MMcf per day)52.7 MMboe(191.5 Mboe per day)
6.9 MMbbls(24.9 Mbbls per day)
41.8 MMbbls(152.2 Mbbls per day)
1.5 MMbbls(5.3 Mbbls per day)20.8 Bcf(75.5 MMcf per day)
4.9 MMboe(17.9 Mboe per day)
68.3 MMbbls(248.2 Mbbls per day)
264.0 Bcf
(960.1 MMcf per day)
112.3 MMboe(408.2 Mboe per day)
181.6 Mkl
(1,142.2 Mbbls)
317.3 tons

128.0 millions kWh

153.5 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 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 95.4 MMbbls (347.0 Mbbls perday) of crude oil, 407.3 Bcf (1,481.0 MMcf per day) of natural gas, and in total 163.3 MMboe (593.8 Mboe per day) for the ninemonths ended December 31, 2010, and 95.6 MMbbls (347.5 Mbbls per day) of crude oil, 366.2 Bcf (1,331.7 MMcf per day) of
natural gas, and in total 156.6 MMboe (569.5 Mboe per day) for the nine months ended December 31, 2011.
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. Production volume of natural gas has been changed reflecting the change in applied coefficient of domestic natural gas volume fromthe year ended March 31, 2011. The volume before the change is 30.8 Bcf (111.9 MMcf per day) for Japan segment and 300.6 Bcf(1,093.1 MMcf per day) for all segments total for the nine months ended December 31, 2010.

2) Orders received
Disclosure on this information is omitted because the amount of orders received is accounted for a minor portion of total sales.

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2ファイル名:

3) Actual sales
The following table shows sales by segment:

Segment

CategoryJapan

Crude OilNatural Gas(excluding LPG)
LPG

For the nine months ended
December 31, 2010
Sales volume
Net sales
74 Mbbls

556

100 Mbbls

954

44,802 MMcf

49,91844,884 MMcf

52,6671,915

165 Mbbls

174 Mbbls

Other

20,141

Subtotal

Asia & Oceania

Americas

Total

1,937
23,23572,531

Crude OilNatural Gas(excluding LPG)
LPG

78,794

14,804 Mbbls

104,474

10,440 Mbbls

96,094

231,571 MMcf

187,288

210,194 MMcf

243,943

17,2672,366 Mbbls

2,984 Mbbls

Subtotal
Eurasia(Europe & NIS)
Middle East & Africa(Millions of yen)
For the nine months ended
December 31, 2011
Sales volume
Net sales

309,029

15,540355,578

Crude Oil

6,627 Mbbls

46,855

6,723 Mbbls

61,714Crude Oil

35,559 Mbbls

242,665

41,718 Mbbls

364,110Crude OilNatural Gas(excluding LPG)
Subtotal

1,022 Mbbls

6,411

41 Mbbls

305

23,066 MMcf

4,406

20,817 MMcf

3,535

10,818Crude OilNatural Gas(excluding LPG)
LPG

3,840

58,085 Mbbls

400,963

59,022 Mbbls

523,179

299,439 MMcf

241,612275,895 MMcf

300,147

19,1822,531 Mbbls

17,477

3,159 Mbbls

Other

20,141

23,235

Total

681,899

864,039

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 nine months ended September 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 volume of natural gas has been changed reflecting the change in applied coefficient of domestic natural gas volume from theyear ended March 31, 2011. The volume before the change is 43,172 MMcf for Japan segment and 297,809 MMcf for all segments
total for the nine months ended December 31, 2010.
5. 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.

Customer

PERTAMINA

For the nine months
ended December 31, 2010

For the nine months
ended December 31, 2011

Amounts

Ratio

Amounts

Ratio（Millions of yen）(%)

（Millions of yen）(%)

194,02928.5

161,333― 12 ―

18.7