Editorial Policy
This annual report is based on the rigorous selection and concentration of information, such as financial
data, business strategy explanations, and information about other areas of importance, to better facilitate
investors’ efforts to analyze the Company. For additional information, please refer to the following tools
and websites.

Details of Challenge Vision 2020
The Tokyo Gas Group’s Vision for Energy and the Future ~Challenge 2020 Vision~(Released November 2011)
http://www.tokyo-gas.co.jp/IR/english/library/pdf/vision/vision2020_01.pdf

CSR Activities
Tokyo Gas Group CSR Report
http://www.tokyo-gas.co.jp/csr/index_e.html

Financial and Industry Data
(EXCEL Spreadsheet Data Available)

Investors’ Guide

Investorsʼ Guide 2013
Tokyo Gas Co., Ltd.
東京ガス株式会社

http://www.tokyo-gas.co.jp/IR/english/library/invguid_e.html

Quarterly Financial Results
Consolidated Financial Results Bulletin
http://www.tokyo-gas.co.jp/IR/english/library/earn_e.html

Forward-looking Statements
This annual report includes various management goals and other forecasts relating to the “Challenge 2020 Vision” announced inNovember 2011 and other strategies. This information is based on forecasts, assumptions, and available information when preparing
the “Challenge 2020 Vision” and other strategies and does not guarantee the achievement of goals and forecasts or future businessresults. Further, this information may change due to changes in business conditions. Therefore, placing undue reliance on this information is not advised. In addition, the target figures for fiscal 2013 are based on the judgment of management and the information
available when the figures were published (April 26, 2013). The Company will disclose the latest information to the Tokyo Stock
Exchange in a timely manner and at the same time publish it in the investor relations section of its website (http://www.tokyo-gas.
co.jp/index_e.html).

Contents

Business results
and initiatives
in fiscal 2012

Tokyo Gas
businessdevelopment

P.

Policies ofManagement

22.	‌Operating Performancein Fiscal 2012:
A Three-Minute Overview

4P.
4.	‌LNG Value ChainP.

8

8.	‌Discussion with 
the President
9. ‌	‌Analysis of changes in conditions after
announcement of “Challenge 2020 Vision”
9.	‌LNG value chain’s value creation
9.	‌Progress of “three diversifications”
in raw material procurement
10. Progress of overseas businesses
10. 	‌Strategies aimed at reducing raw material
prices10. 	‌Analysis of demand trends for generalindustrial use
11. Electric power business plan
11. Gas rates policy
11.	‌Scenario for achievement of cogeneration
systems target
11. Possibility of revising long-term vision
12.	‌Cash flow distribution and returns toshareholders
12. Fiscal 2013 outlook

Business conditions,distinctive featuresof Tokyo Gas, andProgress of Growth
Strategy

13

Key Points
regardingCorporate
Governance
Systems

P.

P.

31

13.	‌‌Growth Strategy—Enhancing the LNG
Value Chain32.	‌Corporate Governance14.	The Potential of Natural Gas

32. Internal Control System

16.	‌Understanding Tokyo Gas throughComparison

33. Outside Directors

18.	‌Procuring Resources in a Stable
and Affordable Manner andExpanding Overseas Operations
22.	‌Building a Production and Supply
Infrastructure to Cultivate Demand
25. Providing Diverse Energy Solutions
30. Capital Expenditures Plan

32.	Overview of Corporate
Governance Systems

33.	Audits by Audit & Supervisory
Board Members
34. Officer Remuneration

Management’sAnalysis ofOperating
Performancein Fiscal 201240P.

40.	‌Management’s Discussionand Analysis
46.	‌Consolidated Financial
Statements
51.	‌‌Consolidated Subsidiaries
and Equity-Method
Affiliates

35. Advisory Committee
35. Independent Auditors
35. Compliance
36. Risk Management System
37.	Board of Directors and Audit &Supervisory Board Members

Tokyo Gas

Annual Report 20131