Consolidated Financial Results for the Six Months ended September 30, 2018 [Japanese GAAP]
November 7, 2018
Note: The following report is an English translation of the Japanese-language original.
Company name
Code number
Representative
Contact person: INPEX CORPORATION
Stock Exchange on which the Company is listed : Tokyo Stock Exchange: 1605
URL http://www.inpex.co.jp: Takayuki Ueda, President: Munehiro Hosono, General Manager, Corporate Communications Unit
TEL+81-3-5572-0233
Scheduled date of filing Quarterly Financial Report: November 12, 2018
Scheduled date of payment of cash dividends: December 3, 2018
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, 2018 (April 1, 2018-September 30, 2018)(1) Consolidated operating results(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales
For the six months ended
September 30, 2018

Operating income

Millions of Yen%

Millions of Yen

438,205(2.2)

447,92215.0

September 30, 2017

Net income attributableto owners of parent

Ordinary income%

Millions of Yen%

Millions of Yen%

226,43421.9

246,977

26.4

34,03412.9

185,827

34.6

195,41547.8

30,15291.7(Note): Consolidated comprehensive income: for the six months ended September 30, 2018, ¥129,565 million; (555.3%)
for the six months ended September 30, 2017, ¥19,772 million; ( %)Net income pershare—basic

Net income pershare—diluted

For the six months ended
September 30, 2018

Yen
23.31

September 30, 2017

20.65

Yen

(2) Consolidated financial position

Millions of Yen

Millions of Yen

Net assets excluding non-controllinginterests as a percentage of total assets%

As of September 30, 2018

4,794,067

3,272,841

63.1

As of March 31, 2018

4,252,386

3,158,868

68.6

Total assets

Net assets(Reference): Net assets excluding non-controlling interests: as of September 30, 2018, ¥3,027,128 million
as of March 31, 2018, ¥2,916,680 million

2. Dividends
Cash dividends per share
End of 1st quarter End of 2nd quarter End of 3rd quarter
Yen

For the year ended
March 31, 2018
For the year ending
March 31, 2019
For the year ending
March 31, 2019 (forecast)

Yen

9.00

Yen

End of fiscal year

Total

Yen

Yen

9.00

18.00

15.00

24.00

9.00

(Note): 1. Changes in projected dividends for the year ending March 31, 2019 from the previous forecast: Yes
2. Breakdown of year-end dividend (forecast) for the year ending March 31, 2019: Ordinary dividend of 9.00 yen Commemorative dividend of 6.00
yen
3. "Dividends" as stated above refer to common stock. For information regarding Class A stock (not listed), please refer to Exhibit "Dividends of ClassA stock".
4. For information regarding revision of dividend forecast, please refer to the press release Revision of Dividend Forecast (Commemorative
Dividend) for the year ending March 31, 2019 issued today (November 7, 2018).

3. Forecasted Consolidated Financial Results for the year ending March 31, 2019 (April 1, 2018-March 31, 2019)(Figures in % represent the changes from the previous fiscal year)

Net sales
For the year ending
March 31, 2019

Operating income

Ordinary income

Net income
attributable toowners of parent

Net income pershare

Millions of Yen%

Millions of Yen%

Millions of Yen%

Millions of Yen%

Yen

1,001,000

7.2

476,000

33.2

487,000

25.8

60,000

48.7

41.09

(Note): As of September 30, 2018 from the previous forecast: Yes

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 and other regulations
2. Other changes in accounting policies
3. Changes in accounting estimates
4. Restatement of corrections: None: None: None: None(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:

1,462,323,600 shares as of September 30, 2018
1,462,323,600 shares as of March 31, 2018
2,123,800 shares as of September 30, 2018
1,966,500 shares as of March 31, 2018
1,460,312,157 shares for the six months ended September 30, 2018
1,460,357,100 shares for the six months ended September 30, 2017

(Note): As of september 30, 2018, 157,300 shares of "the Board Incentive Plan Trust" are included in number of treasury stock at the end of the period.

*This quarterly earnings report is not subject to audit by certified public accountants or audit firms.
*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
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" on page4.

Exhibit:
Dividends of Class A stock
Cash dividends per share
End of 1st quarter End of 2nd quarter End of 3rd quarter
Yen

Yen

Yen

End of fiscal year
Yen

Total
Yen

For the year ended―
3,600.00―
3,600.00
7,200.00
March 31, 2018
For the year ending―
3,600.00
March 31, 2019
For the year ending―
6,000.00
9,600.00
March 31, 2019 (forecast)(Note):1. Breakdown of year-end dividend (forecast) for the year ending March 31, 2019: Ordinary dividend of 3,600.00 yen
Commemorative dividend: 2,400.00 yen
2. The Company conducted a stock split at a ratio of 1:400 of common stock efffective October 1, 2013. However, for ClassA stock (not listed), no stock split was implemented. The article specifying that dividends of Class A stock are equivalent
to dividends of common stock prior to the stock split is included in the Articles of Incorporation.
3. For information regarding revision of dividend forecast, please refer to the press release Revision of Dividend Forecast(Commemorative Dividend) for the year ending March 31, 2019 issued today (November 7, 2018).

Index of the Attachments
2

1. Qualitative Information / Financial Statements(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

45

2. Consolidated Financial Statements and Principal Notes(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(Additional information)

11(Segment information)

12(Subsequent events)

1213

3. Supplementary Information

13(1) Production, Orders Received and Sales Performance11. Qualitative Information ⁄ Financial Statements(1) Explanation on Consolidated Financial Results
Net sales for the six months ended September 30, 2018 decreased by ¥9.7 billion, or 2.2% , to ¥438.2 billion from thecorresponding period of the previous fiscal year due to a decrease in sales volume, despite an increase in sales price of crude oil.
Net sales of crude oil increased by ¥42.0 billion, or 12.7%, to ¥372.9 billion, and net sales of natural gas decreased by ¥52.8
billion, or 47.7%, to ¥57.9 billion.
Sales volume of crude oil decreased by 11,068 thousand barrels, or 19.2%, to 46,462 thousand barrels. Sales volume of natural gas
decreased by 82,325 million cf, or 54.4%, to 69,026 million cf. Sales volume of overseas natural gas decreased by 84,375 million
cf, or 71.9%, to 32,971 million cf, and sales volume of domestic natural gas increased by 55 million ㎥, or 6.0%, to 966 million ㎥(36,055 million cf).
The average sales price of overseas crude oil increased by US$21.91, or 42.8%, to US$73.16 per barrel. In addition, the averagesales price of overseas natural gas decreased by US$2.47, or 48.1%, to US$2.67 per thousand cf. Meanwhile, the average sales
price of domestic natural gas increased by ¥4.21, or 9.2%, to ¥49.85 per ㎥. The average exchange rate of the Japanese yen
against the U.S. dollar on consolidated net sales appreciated by ¥1.73, or 1.6%, to ¥109.59 per U.S. dollar from the corresponding
period of the previous fiscal year.
The decrease of ¥9.7 billion in net sales was mainly derived from the following factors: regarding net sales of crude oil andnatural gas, a decrease in sales volume pushing sales down of ¥110.9 billion, an increase in unit sales price contributing ¥106.6
billion to the increase, the appreciation of the Japanese yen against the U.S. dollar pushing sales down of ¥6.5 billion, and anincrease in net sales excluding crude oil and natural gas of ¥1.0 billion.
Cost of sales for the six months ended September 30, 2018 decreased by ¥46.1 billion, or 20.8%, to ¥176.0 billion. Exploration
expenses increased by ¥0.0 billion, or 6.7%, to ¥1.0 billion. Selling, general and administrative expenses decreased by ¥4.2
billion, or 10.9%, to ¥34.7 billion. As a result, operating income increased by ¥40.6 billion, or 21.9%, to ¥226.4 billion.
Other income increased by ¥17.9 billion, or 114.7%, to ¥33.6 billion due to gain on equity in earnings of affiliates. Other expenses
increased by ¥6.9 billion, or 115.4%, to ¥13.0 billion. As a result, ordinary income and income before income taxes increased by¥51.5 billion, or 26.4%, to ¥246.9 billion.
Total amount of current income taxes and deferred income taxes increased by ¥44.3 billion, or 27.4%, to ¥205.9 billion, net
income increased by ¥7.2 billion, or 21.4%, to ¥41.0 billion, and net income attributable to non-controlling interests was ¥7.0
billion. As a result of the above effects, net income attributable to owners of parent for the six months ended September 30, 2018
increased by ¥3.8 billion, or 12.9%, to ¥34.0 billion.
Financial results by segment are as follows:
1) JapanNet sales increased by ¥8.1 billion, or 16.0%, to ¥58.6 billion due to increases in sales volume and sales price of natural gas.
Operating income increased by ¥2.0 billion, or 16.5%, to ¥14.2 billion.
2) Asia & Oceania
Net sales decreased by ¥78.9 billion, or 84.3%, to ¥14.7 billion due to a decrease in sales volume, despite an increase in sales
price of crude oil. Operating loss totaled ¥0.3 billion compared with ¥25.3 billion of operating income for the corresponding
period of the previous fiscal year.
3) Eurasia (Europe & NIS)
Net sales increased by ¥24.7 billion, or 70.1%, to ¥60.1 billion due to increases in sales volume and sales price of crude oil.
Operating income increased by ¥11.0 billion, or 131.5%, to ¥19.4 billion.
4) Middle East & Africa
Net sales increased by ¥36.4 billion, or 13.9%, to ¥298.6 billion due to an increase in sales price of crude oil, despite a decrease insales volume. Operating income increased by ¥55.3 billion, or 37.1%, to ¥204.6 billion.
5) Americas
Net sales decreased by ¥0.1 billion, or 1.7%, to ¥6.0 billion, due to a decrease in sales volume, despite an increase in sales price of
crude oil. Operating loss decreased by ¥0.4 billion, or 16.1%, to ¥2.1 billion.

2(2) Explanation on Consolidated Financial Position
Total assets as of September 30, 2018 increased by ¥541.6 billion to ¥4,794.0 billion from ¥4,252.3 billion as of March 31, 2018.
Current assets increased by ¥179.7 billion to ¥646.0 billion due to increases in cash and deposits and others. Fixed assets
increased by ¥361.9 billion to ¥4,148.0 billion due to increases in tangible fixed assets, investments and other assets and others.
Meanwhile, total liabilities increased by ¥427.7 billion to ¥1,521.2 billion from ¥1,093.5 billion as of March 31, 2018. Current
liabilities increased by ¥155.8 billion to ¥461.2 billion and long-term liabilities increased by ¥271.8 billion to ¥1,059.9 billion.
Net assets increased by ¥113.9 billion to ¥3,272.8 billion. Total shareholders' equity increased by ¥20.7 billion to ¥2,588.9 billion.
Total accumulated other comprehensive income increased by ¥89.7 billion to ¥438.1 billion and non-controlling interests in net
assets increased by ¥3.5 billion to ¥245.7 billion.
The above comparisons to the previous fiscal year are made on the condition that "Partial Amendments to Accounting Standard
for Tax Effect Accounting"(ASBJ Statement No. 28, February 16, 2018) was adopted from the beginning of the first quarter ofthis fiscal year, and such amendments was also retrospectively applied to the balances as of the end of previous fiscal year.
Cash and cash equivalents as of September 30, 2018 totaled ¥261.0 billion reflecting a net decrease of ¥15.0 billion from ¥276.0
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 decreased by ¥30.3 billion to ¥110.8 billion from the corresponding period of theprevious fiscal year. This is due mainly to an increase in income taxes paid.
2) Cash flows from investing activities
Net cash used in investing activities increased by ¥229.4 billion to ¥457.7 billion from the corresponding period of the previous
fiscal year. This is due mainly to a decrease of proceeds from time deposits and an increase in long-term loans made.
3) Cash flows from financing activities
Net cash provided by financing activities increased by ¥282.8 billion to ¥325.1 billion from the corresponding period of theprevious fiscal year. This is due mainly to an increase in proceeds from long-term debt.

3

(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results
Forecast for consolidated financial results for the year ending March 31, 2019 have been revised from the previous forecastspresented on August 9, 2018, taking into consideration the consolidated financial results for the six months ended September 30,
2018.
Forecasts for consolidated financial results for the year ending March 31, 2019
Net sales

Operating income(Millions of yen)
Net income attributable toOrdinary income
owners of parent
463,000
48,000Previous Forecasts: A

945,000

460,000

Revised Forecasts: B

1,001,000

476,000

487,000

60,00056,00016,00024,00012,000

5.9

3.5

5.2

25.0

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

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

Revised Forecasts

Crude oil price(Brent)

1st quarter (actual): US$ 75.0/bbl
From 2nd quarter: US$ 70.0/bbl
US$ 71.2/bbl (Average)
Full Year:

1st Half:
2nd Half:
Full Year:

US$ 75.4/bbl (Actual)
US$ 70.0/bbl
US$ 72.7/bbl (Average)

Exchange rate

1st quarter (actual): ¥109.1/US$
From 2nd quarter: ¥110.0/US$¥109.8/US$ (Average)
Full Year:

1st Half:
2nd Half:
Full Year:¥110.3/US$ (Actual)¥110.0/US$¥110.1/US$ (Average)

Note:Crude oil prices at which the Company sells products vary depending on crude oil type, and differ from Brent crude oil prices. Crude oil price differences
are determined by the quality of each crude oil type, etc., and are also affected by market conditions.

42. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheet(Millions of yen)Accounts

As of March 31, 2018

As of September 30, 2018

(Assets)
Current assets
Cash and deposits

276,102425,742

Accounts receivable-trade

66,900101,394

Inventories

32,321

31,539Other

112,011

111,644

Less allowance for doubtful accounts(20,984)(24,263)

Total current assets

466,350

646,058

Buildings and structures, net

201,045

192,881

Wells, net

38,32331,985

Machinery, equipment and vehicles, net

99,472

91,538Land

19,098

19,1191,678,743

1,865,472

7,936

6,578

2,044,619

2,207,575

Goodwill

54,03750,657

Other

487,465

473,404

Total intangible assets

541,502524,061

Investment securities

367,417379,980

Long-term loans receivable

295,861

511,491

Recoverable accounts under production sharing

589,098

585,361

Other

31,67525,910Less allowance for doubtful accounts

Fixed assets
Tangible fixed assets

Construction in progress
Other, net
Total tangible fixed assets
Intangible assets

Investments and other assets

(849)

(806)

Less allowance for recoverable accounts under
production sharing(81,625)(83,345)

Less allowance for investments in exploration(1,664)(2,218)

1,199,913

1,416,372

3,786,035

4,148,009

4,252,386

4,794,067

Total investments and other assets
Total fixed assets
Total assets

5

(Millions of yen)Accounts

As of March 31, 2018

As of September 30, 2018

(Liabilities)
Current liabilities
Accounts payable-trade

45,67527,032

Short-term loans

71,250122,445

Commercial papers

72,000

Income taxes payable

17,23440,780

Provision for loss on business

9,887

10,037

Provision for exploration projects

4,005

3,734

Accrued bonuses to officers

62

31

Asset retirement obligations

407

300

Other

156,915

184,900

Total current liabilities

305,439461,261

627,326

887,797

Long-term liabilities
Long-term debt

7

Provision for stocks payment
Accrued special repair and maintenance

380

400

Liability for retirement benefits

5,937

6,119

Asset retirement obligations

111,128

120,346

Other

43,30545,292

Total long-term liabilities

788,078

1,059,963

1,093,517

1,521,225

Common stock

290,809290,809

Capital surplus

673,574

673,574Retained earnings

1,609,094

1,629,985

Treasury stock(5,248)(5,434)2,568,230

2,588,935

Unrealized holding gain (loss) on securities

10,217

16,406

Unrealized gain (loss) from hedging instruments

25,72436,138Translation adjustments

312,507385,648

Total accumulated other comprehensive income

348,449

438,193242,188245,713

Total net assets

3,158,868

3,272,841

Total liabilities and net assets

4,252,386

4,794,067

Total liabilities(Net assets)
Shareholders' equity

Total shareholders' equity
Accumulated other comprehensive income

Non-controlling interests6(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income
Accounts(Millions of yen)
For the six months ended
September 30, 2018

For the six months ended
September 30, 2017

Net sales

447,922438,205

Cost of sales

222,176

176,036

Gross profit

225,745

262,168

944

1,007

Selling, general and administrative expenses

38,97334,726

Operating income

185,827

226,434

Interest income

4,070

4,128

Dividend income

2,040

1,402

Equity in earnings of affiliates

2,110

10,565Gain on reversal of allowance for recoverable accounts
under production sharing

2,789

Exploration expenses

Other income

Foreign exchange gain

59

Compensation income

5,298
7,453

Other

4,583

4,757

Total other income

15,65333,607

3,200

4,794

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

1,690

Other

2,865

6,579

Total other expenses

6,066

13,065

Ordinary income

195,415

246,977

Income before income taxes

195,415

246,977

Income taxes-current

156,464

200,722

Income taxes-deferred

5,133

5,210

Total income taxes

161,598

205,932

Net income

33,816

41,044

Net income (loss) attributable to non-controlling interests

3,664

7,010

Net income attributable to owners of parent

30,152

34,034

7

Consolidated Statement of Comprehensive Income
Accounts(Millions of yen)
For the six months ended
September 30, 2018

For the six months ended
September 30, 2017

Net income

33,816

41,044

1,789

6,185

(17,564)

72,0491,730

10,286(14,044)

88,521

19,772

129,565

18,965

123,777

806

5,788

Other comprehensive income
Unrealized holding gain (loss) on securities
Translation adjustments
Share of other comprehensive income of associates
accounted for by the equity method
Total other comprehensive income
Comprehensive income
Total comprehensive income attributable to
Owners of parent
Non-controlling interests8(3) Consolidated Statement of Cash Flows(Millions of yen)
For the six months ended
September 30, 2018

For the six months ended
September 30, 2017

Accounts
Cash flows from operating activities
Income before income taxes

195,415

246,977

Depreciation and amortization

45,44841,710

Amortization of goodwill

3,380

3,380

Provision for allowance for recoverable accounts
under production sharing(2,748)

1,720

Provision for exploration projects

(148)

(241)

Other provisions

356

3,848

Liability for retirement benefits

15

234

Interest and dividend income(6,110)(5,531)

Interest expense

3,200

4,794

Foreign exchange loss (gain)(3,560)(4,355)Equity in losses (earnings) of affiliates(2,110)(10,565)

34,987

10,007

1,236

9,833

Accounts receivable-trade(10,738)(34,355)

Inventories(5,398)(1,626)

Accounts payable-trade(4,093)(18,602)

Other

20,93528,370Subtotal

270,068

275,599

Interest and dividends received

16,7848,562

Interest paid

(1,952)(3,439)

Income taxes paid

(143,731)(169,866)

Net cash provided by (used in) operating activities

141,169

110,855

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

9

(Millions of yen)
For the six months ended
September 30, 2018

For the six months ended
September 30, 2017

Accounts
Cash flows from investing activities
Payments for time deposits(260,435)(248,107)

Proceeds from time deposits

333,933

88,231

Payments for purchases of tangible fixed assets(139,218)(116,988)

Proceeds from sales of tangible fixed assets

65

30

Payments for purchases of intangible assets

(950)

(531)

Payments for purchases of investment securities(126,308)(1,449)Investment in recoverable accounts under production sharing(capital expenditures)(13,622)(15,319)

127

(230)

(23,542)(182,578)

135

129

1,480

19,022(228,336)(457,790)

Decrease (increase) in short-term loans receivable
Long-term loans madeCollection of long-term loans receivable
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Increase (decrease) in commercial papers

72,000

Increase (decrease) in short-term loans(40)

Proceeds from long-term debt

77,612

295,389

Repayments of long-term debt

(19,506)(23,069)

Proceeds from non-controlling interests for additional shares

50

Cash dividends paid

(13,145)(13,146)

Cash dividends paid to non-controlling interests(2,523)(5,832)

(15)

(195)

42,381

325,195

Effect of exchange rate changes on cash and cash equivalents(1,199)6,687

Net increase (decrease) in cash and cash equivalents(45,986)(15,052)

Cash and cash equivalents at beginning of the period

316,790276,079

Cash and cash equivalents at end of the period

270,804

261,027

Other
Net cash provided by (used in) financing activities10(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 six months ended September 30, 2018 (April 1, 2018 through September 30, 2018):
None(Note on significant changes in shareholders' equity)
For the six months ended September 30, 2018 (April 1, 2018 through September 30, 2018):
None(Additional information)"Partial Amendments to Accounting Standard for Tax Effect Accounting" (ASBJ Statement No. 28, February 16, 2018) was
adopted from the beginning of the first quarter of this fiscal year. As a result, deferred tax assets are classified as "Investments andother assets" and deferred tax liabilities are classified as "Long-term liabilities" respectively.

11

(Segment information)
I. For the six months ended September 30, 2017 (April 1, 2017 through September 30, 2017)
1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Adjustments Consolidated
*1
*2

Japan

Asia &
Oceania

Eurasia(Europe& NIS)

50,57093,63335,342

262,2456,130

447,922―447,922

―

―

―

―

―

―

―

―

50,57093,63335,342

262,2456,130

447,922―447,922

12,19725,356

8,397

149,305(2,563)

192,692(6,865)

185,827

Middle East
Americas& Africa

Total

Net sales
Sales to third parties
Intercompany sales andtransfers between segments
Total
Segment income (loss)

Note: 1. Adjustments of segment income of ¥(6,865) million include elimination of inter-segment transactions of ¥8 million and corporate expenses of ¥(6,873)
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 six months ended September 30, 2018 (April 1, 2018 through September 30, 2018)
1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Adjustments Consolidated
*1
*2

Japan

Asia &
Oceania

Eurasia(Europe& NIS)

58,67814,714

60,115

298,670

6,026

438,205―438,205

―

―

―

―

―

―

―

―

58,67814,714

60,115

298,670

6,026

438,205―438,205

14,211(312)

19,437

204,652(2,151)

235,838(9,403)

226,434

Middle East
Americas& Africa

Total

Net sales
Sales to third parties
Intercompany sales andtransfers between segments
Total
Segment income (loss)

Note: 1. Adjustments of segment income of ¥(9,403) million include elimination of inter-segment transactions of ¥7 million and corporate expenses of ¥(9,410)
million. Corporate expenses are mainly amortization of goodwill and general administrative expenses that are not allocated to a reportable segment.
2. Segment income is reconciled with operating income on the consolidated statement of income.

2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
None(Subsequent events)
For the six months ended September 30, 2018 (April 1, 2018 through September 30, 2018):
None

12

3. Supplementary Information(1) Production, Orders Received and Sales Performance1) Actual production
The following table shows actual production by segment:
For the six months ended
Segment
Category
September 30, 2017
0.7 MMbbls
Crude oil(3.7 Mbbls per day)26.9 Bcf
Natural gas(146.9 MMcf per day)
5.7 MMboe
Japan
Subtotal(31.3 Mboe per day)
IodineElectric power
generation
Crude oil
Natural gas
Asia & Oceania
Subtotal
Electric power
generation
Crude oil
Eurasia(Europe & NIS)

Natural gas
Subtotal

266.1 tons

266.1 tons

105.4 million kWh

110.4 million kWh

4.8 MMbbls(26.4 Mbbls per day)
91.2 Bcf(498.2 MMcf per day)22.0 MMboe(120.2 Mboe per day)

1.2 MMbbls(6.4 Mbbls per day)22.5 Bcf(122.9 MMcf per day)
5.2 MMboe(28.2 Mboe per day)72.7 million kWh

210.2 million kWh

7.4 MMbbls(40.2 Mbbls per day)
3.7 Bcf(20.3 MMcf per day)
8.0 MMboe(43.8 Mboe per day)

8.2 MMbbls(44.9 Mbbls per day)
4.9 Bcf(26.6 MMcf per day)
9.1 MMboe(49.6 Mboe per day)
43.5 Mtons

SulfurMiddle East & Africa

Crude oil
Crude oil

AmericasNatural gas
Subtotal
Crude oil
Natural gas

Total

For the six months ended
September 30, 2018
0.6 MMbbls(3.5 Mbbls per day)24.5 Bcf(134.0 MMcf per day)
5.2 MMboe(28.6 Mboe per day)Subtotal
IodineElectric power
generation
Sulfur

47.6 MMbbls(260.2 Mbbls per day)
1.1 MMbbls(5.7 Mbbls per day)19.7 Bcf(107.8 MMcf per day)
4.6 MMboe(25.0 Mboe per day)61.6 MMbbls(336.3 Mbbls per day)
141.5 Bcf
(773.2 MMcf per day)87.9 MMboe(480.6 Mboe per day)

41.8 MMbbls(228.7 Mbbls per day)
0.6 MMbbls(3.4 Mbbls per day)17.2 Bcf(93.9 MMcf per day)
3.7 MMboe(20.2 Mboe per day)
52.5 MMbbls(286.8 Mbbls per day)69.1 Bcf(377.5 MMcf per day)
65.0 MMboe(355.3 Mboe per day)

266.1 tons

266.1 tons

178.2 million kWh

320.6 million kWh
43.5 Mtons

Note: 1. The volume of LPG produced overseas is included in 'Crude oil.'
2. A portion of crude oil and natural gas production volume is consumed as fuel to generate electricity.
3. 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 oraffiliates.
4. The production volume of crude oil and natural gas under the production sharing contracts entered into by INPEX Group corresponds to the net
economic take of the group.
Figures calculated by multiplying the gross production volume by the Company's interest share are 71.7 MMbbls (391.7 Mbbls per day) of crude oil,
175.5 Bcf (959.2 MMcf per day) of natural gas, and in total 104.5 MMboe (570.9 Mboe per day) for the six months ended September 30, 2017, and59.3 MMbbls (324.0 Mbbls per day) of crude oil, 76.1 Bcf (416.0 MMcf per day) of natural gas, and in total 73.1 MMboe (399.3 Mboe per day) for thesix months ended September 30, 2018.
5. Boe means barrels of oil equivalent.
6. Iodine is refined by other company on consignment.
7. Figures are rounded to one decimal place.

13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

Japan

Asia & Oceania

Category
Crude oil

470 Mbbls

2,825

386 Mbbls

3,343

Natural gas(excluding LPG)

34,005 MMcf

41,58936,055 MMcf

48,1622 Mbbls

11

2 Mbbls

11

LPG
Other

6,144

7,161

Subtotal

50,57058,678Crude oil

4,160 Mbbls

26,3981,033 Mbbls

8,317

Natural gas(excluding LPG)

92,664 MMcf

64,696

10,147 MMcf

5,989

LPG

585 Mbbls

2,538

74 Mbbls

407

Subtotal

Eurasia(Europe & NIS)

93,633

Americas5,981 Mbbls

34,731

7,124 Mbbls

59,125Natural gas(excluding LPG)

3,724 MMcf

610

4,869 MMcf

921

Other

68
35,34260,115Crude oil

45,979 Mbbls

262,245

37,353 Mbbls

298,670

Crude oil

940 Mbbls

4,721

566 Mbbls

3,532

Natural gas(excluding LPG)

20,957 MMcf

1,408

17,955 MMcf

2,493

Subtotal

Total

14,714Crude oil

Subtotal
Middle East & Africa(Millions of yen)
For the six months ended
September 30, 2018
Sales volume
Net sales

For the six months ended
September 30, 2017
Sales volume
Net sales

6,130

6,026

Crude oil

57,530 Mbbls

330,923

46,462 Mbbls

372,989

Natural gas(excluding LPG)

151,351 MMcf

108,305

69,026 MMcf

57,566587 Mbbls

2,549

76 Mbbls

418

LPG
Other

6,144

7,230

Total

447,922438,205

Note: 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 30 except those subsidiaries prepared their financial statements for consolidation purpose as of the consolidation closing date. However, thesignificant effects of the difference in fiscal periods were properly adjusted in consolidation.
3. Sales volumes are rounded to the nearest whole number.

14