ファConsolidated Financial Results for the Three Months ended June 30, 2012 [Japanese GAAP]
August 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: 1605URL

Representative: Toshiaki Kitamura, President

Contact person: Kimihisa Kittaka, General Manager, Corporate Communications Unit

http://www.inpex.co.jp

TEL+81-3-5572-0233
Scheduled date of filing Quarterly Financial Report: August 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 Three Months ended June 30, 2012 (April 1, 2012-June 30, 2012)(1) Consolidated operating results(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales

Operating income

Ordinary income

Net income

For the three months ended
June 30, 2012

Millions of yen

310,806

5.4

187,1646.2

207,314

16.3

69,954

74.1

June 30, 2011

294,916

31.7

176,23939.7

178,32945.3

40,177

25.5%

Millions of yen%

Millions of yen%

Millions of yen%(Note): Consolidated comprehensive income: for the three months ended June 30, 2012, ¥55,622 million; (28.1%)
for the three months ended June 30, 2011, ¥43,417 million; (200.7%)

Net income pershare—basic
For the three months ended
June 30, 2012
June 30, 2011

Net income pershare—diluted
Yen

Yen

―
―

19,160.96
11,004.72(2) Consolidated financial position
Total assets
Millions of yen

As of June 30, 2012
As of March 31, 2012

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

Net assets

3,063,521
3,066,397

2,356,779
2,314,193

72.4
71.1

(Reference): Net assets excluding minority interests: as of June 30, 2012, ¥2,217,824 million
as of March 31, 2012, ¥2,179,251 million

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

Yen―

At 2nd quarter end

At 3rd quarter end

Yen

3,000.00

At fiscal year end

Total

Yen

Yen

Yen

―

4,000.00

7,000.00―

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

7,000.00

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

Net sales

Operating income

Ordinary income

Net income

Millions of yen% Millions of yen% Millions of yen% Millions of yen%
For the six months ending
577,000
0.7
329,000
0.3
340,000
2.3
98,00031.7
September 30, 2012
For the year ending
1,089,000 (8.2)
587,000 (17.2)
607,000 (20.9)
168,000 (13.4)
March 31, 2013
(Note): Changes in forecasted consolidated financial results for the year ending March 31, 2013 from the previous forecast: Yes

Net income per
share
Yen

26,842.74
46,016.13

ファ

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

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

* Indication of quarterly review procedure implementation status
This quarterly earnings report is exempt from quarterly review procedure under the Financial Instruments and Exchange Act. The
review procedure for quarterly consolidated financial statements under the Financial Instruments and Exchange Act has not been
completed at the time of disclosure of this report.
*Explanation regarding the appropriate use of estimated consolidated financial results
The aforementioned forecasts are based on the currently available information and contain many uncertainties. The final results might
be significantly different from the aforementioned forecasts due to changes in business conditions including oil and natural gas pricelevels, production and sales plans, project development schedules, government regulations and financial and tax schemes. Please refer
to “1.(3) Qualitative Information on Forecasted Consolidated Financial Results” on page 3.

ファIndex of the Attachments

1.

2.

3.

4.

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

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

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

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

3

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

4(1) Significant changes in scope of consolidation…………………………………………………………………………...

4(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements..…………...

4(3) Changes in accounting policies, accounting estimates and restatement of corrections………………………………….

4

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

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

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

7
7

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

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

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

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

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

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

13

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

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

14

1

ファ

1. Qualitative Information / Financial Statements(1) Qualitative Information on Consolidated Financial Results
During the three months ended June 30, 2012, consolidated net sales were ¥310.8 billion (increased by ¥15.8 billion, or 5.4%,
from the corresponding period of the previous fiscal year) due to an increase in sales volume of crude oil and sales price of naturalgas. Net sales of crude oil increased by ¥13.1 billion, or 7.2%, to ¥195.4 billion, and net sales of natural gas increased by ¥2.8
billion, or 2.7%, to ¥108.6 billion. Sales volume of crude oil increased by 2,294 Mbbls, or 11.7%, to 21,902 Mbbls. Sales volumeof natural gas decreased by 15,687 MMcf, or 16.6%, to 78,881 MMcf. Sales volume of overseas natural gas decreased by 16,128
MMcf, or 20.1%, to 64,102 MMcf, and sales volume of domestic natural gas increased by 12 MM㎥, or 3.1%, to 396 MM㎥(14,779 MMcf). The average sales price of overseas crude oil decreased by US$2.20 per bbl, or 1.9 %, to US$110.77 per bbl, andthe average sales price of overseas natural gas increased by US$1.44 per Mcf, or 10.8%, to US$14.74 per Mcf. In addition, theaverage sales price of domestic natural gas increased by ¥3.96, or 9.3%, to ¥46.56 per ㎥. The average exchange rate of Japanese
yen against U.S. dollar on consolidated net sales appreciated by ¥1.65, or 2.0%, to ¥80.14 per U.S. dollar from the corresponding
period of the previous fiscal year.
The increase of ¥15.8 billion in net sales was mainly derived from the following factors: an increase in sales volume and unit sales
price contributing ¥10.0 billion and ¥11.6 billion to the increase, respectively, and the appreciation of Japanese yen against U.S.
dollar pushing sales down of ¥5.7 billion, and a decrease in net sales excluding crude oil and natural gas of ¥80 million.
Cost of sales for the three months ended June 30, 2012 increased by ¥9.4 billion, or 10.0%, to ¥104.3 billion due mainly to anincrease in depreciation and amortization in the Van Gogh oil field and the Kitan oil field. Exploration expenses decreased by ¥4.9
billion, or 73.8%, to ¥1.7 billion due mainly to a decrease in exploration activities in Americas. Selling, general and administrative
expenses increased by ¥0.4 billion, or 2.6%, to ¥17.5 billion. As a result, operating income increased by ¥10.9 billion, or 6.2%, to¥187.1 billion.
Other income increased by ¥19.1 billion, or 180.1 %, to ¥29.7 billion due to an increase in gain on transfer of mining rights andgain on sales of investment securities. Other expenses increased by ¥1.0 billion, or 12.2%, to ¥9.5 billion due to an increase in loss
on valuation of investment securities. As a result, ordinary income and income before income taxes and minority interests
increased by ¥28.9 billion, or 16.3%, to ¥207.3 billion.
Total amount of current income taxes decreased by ¥6.6 billion, or 4.9%, to ¥128.5 billion, and deferred income taxes were ¥6.5
billion, income before minority interests increased by ¥29.6 billion, or 69.6%, to ¥72.1 billion, and minority interests were ¥2.2
billion. As a result of the above effects, net income for the three months ended June 30, 2012 increased by ¥29.7 billion, or 74.1%,
to ¥69.9 billion from the corresponding period of the previous fiscal year.

Financial results by segment are as follows:
1)

Japan
Net sales increased by ¥1.3 billion, or 5.5%, to ¥26.0 billion due to an increase in sales price of natural gas. Operating income
increased by ¥0.9 billion, or 24.3%, to ¥4.8 billion.
2) Asia & Oceania
Net sales increased by ¥25.1 billion, or 21.3%, to ¥143.0 billion due to an increase in sales volume of crude oil and sales prices
despite the appreciation of Japanese yen against U.S. dollar. Operating income increased by ¥16.3 billion, or 21.9%, to ¥91.0
billion.
3) Eurasia (Europe & NIS)
Net sales increased by ¥0.2 billion, or 1.3%, to ¥20.0 billion due to an increase in sales volume of crude oil despite a decrease insales price of crude oil and the appreciation of Japanese yen against U.S. dollar. Operating income decreased by ¥1.5 billion, or
13.9%, to ¥9.8 billion due to an increase in cost recovery in the ACG oil fields.
4) Middle East & Africa
Net sales decreased by ¥10.6 billion, or 8.1 %, to ¥120.5 billion due to a decrease in sales price and sales volume of crude oil,and the appreciation of Japanese yen against U.S. dollar. Operating income decreased by ¥8.3 billion, or 9.0%, to ¥84.5 billion.
5) Americas
Net sales decreased by ¥0.2 billion, or 15.2%, to ¥1.1 billion due to a decrease in sales volume, and operating loss decreased by¥3.4 billion, or 81.0%, to ¥0.8 billion due to a decrease in exploration expenses.

2ファ(2) Qualitative Information on Consolidated Financial Position
Total assets as of June 30, 2012 decreased by ¥2.8 billion to ¥3,063.5 billion from ¥3,066.3 billion as of March 31, 2012. This isdue mainly to a decrease in marketable securities and investment securities by ¥67.8 billion and ¥70.8 billion, repectively, despite
an increase in tangible fixed assets and other in intangible assets by ¥41.7 billion and ¥61.4 billion, respectively.
Meanwhile, total liabilities decreased by ¥45.4 billion to ¥706.7 billion from ¥752.2 billion as of March 31, 2012. Current
liabilities decreased by ¥39.9 billion to ¥327.8 billion and long-term liabilities decreased by ¥5.5 billion to ¥378.8 billion.
Net assets increased by ¥42.5 billion to ¥2,356.7 billion. Minority interests in net assets increased by ¥4.0 billion to ¥138.9 billion.
Cash and cash equivalents as of June 30, 2012 totaled ¥210.3 billion reflecting a net decrease of ¥38.8 billion from ¥249.2 billion
at the end of the previous fiscal year.
Cash flows from operating activities, investing activities and financing activities are as follows:
1) Cash flows from operating activities
Net cash provided by operating activities was ¥80.0 billion. This is mainly derived from net income for the three months
ended June 30, 2012 and collection of accounts receivable-trade.
2) Cash flows from investing activities
Net cash used in investing activities was ¥101.2 billion. This is mainly derived from an excess of payments for purchase ofmining rights and payments for purchases of tangible fixed assets over proceeds from sales and redemptions of marketablesecurities.
3) Cash flows from financing activities
Net cash used in by financing activities was ¥11.0 billion. This is mainly derived from cash dividends paid.
(3) Qualitative Information on Forecasts for Consolidated Financial Results
Forecasts for consolidated financial results for the six months ending September 30, 2012 have been revised considering theconsolidated financial results for the three months ended June 30, 2012.
The above revisions are due largely to the following factors;
・ Whereas the previous forecasts had assumed that the necessary procedures to transfer part of interest in the Ichthys Project inAustralia to Osaka Gas Co., Ltd., Toho Gas Co., Ltd. and Tokyo Gas Co., Ltd (the Transfer) would be completed in the latter
half of the year ending March 31, 2013, the Transfer was actually completed in June 2012. As a result, the gain on theTransfer of the interest was realized in the 1st quarter of this fiscal year. Previously the interest transfer to Osaka Gas Co.,
Ltd. was announced in December 2011 and the interest transfer to Toho Gas Co., Ltd. and Tokyo Gas Co., Ltd. wasannounced in January, 2012.
・ Some exploration costs that were planned for the first half of this fiscal year have been deferred to the latter half of the fiscal
year.
・ Crude oil prices remained slightly higher than what were assumed in the previous forecasts.
Forecasts for consolidated financial results for the year ending March 31, 2013 have been slightly revised considering theconsolidated financial results for the three months ended June 30, 2012.
Forecasts for consolidated financial results for the six months ending September 30, 2012
Operating
Ordinary
Net sales
incomeincomePrevious Forecasts: A
535,000
281,000
279,000(Millions of yen)
Net income

68,000

Revised Forecasts: B

577,000

329,000

340,000

98,000

Increase (Decrease): B－A

42,00048,00061,00030,000

7.9

17.1

21.9

44.1

Percentage change (%)

Forecasts for consolidated financial results for the year ending March 31, 2013
Operating
Net sales
incomePrevious Forecasts: A
1,058,000
571,000
Revised Forecasts: B
Increase (Decrease): B－A
Percentage change (%)(Millions of yen)
Ordinary
incomeNet income

593,000

164,000

1,089,000

587,000

607,000

168,000

31,00016,00014,000

4,000

2.9

2.8

2.4

2.4

3

ファ

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

Revised Forecasts

1st quarter (actual) : US$ 108.9/bbl
Crude oil price
Full Year (April 1, 2012- March 31, 2013) :From 2nd quarter: US$ 100.0/bbl(Brent)US$ 100.0/bbl (Average)
Full Year (April 1, 2012- March 31, 2013) :US$ 102.2/bbl (Average)
1st quarter (actual) : ¥80.2/US$1
Full Year (April 1, 2012- March 31, 2013) :From 2nd quarter: ¥80.0/US$1
Exchange rate
¥80.0/US$1 (Average)
Full Year (April 1, 2012- March 31, 2013) :¥80.0/US$1 (Average)
Note: Crude oil prices at which the Company sells products depend on the type of crude oil, and there are also price differences
between the crude oil price and Brent price. Price differences are caused by its quality and its pricing range which is affected by themarket conditions. 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 June 30, 2012, INPEX Oil and Gas Australia Pty Ltd has been qualified as a specified subsidiarysince its capital amount exceeds 10 percent of the Company’s capital amount by the increase in capital. It has been included inconsolidated subsidiaries due to increase in its materiality during the three months ended June 30, 2012.
(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements:
None(3) Changes in accounting policies, accounting estimates and restatement of corrections:None4更新日時:2012/08/03 13:30:00 印刷日時:12/08/03 13:30

ァイル名:③H25.3_第1四半期BS【OK】.doc

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

As of March 31, 2012

As of June 30, 2012

(Assets)
Current assets
Cash and deposits

275,903

304,550

Accounts receivable-trade119,459

95,876

Marketable securities

399,382

331,527

Inventories

11,977

13,317

Other

114,992

110,854

Less allowance for doubtful accounts(13,013)(13,270)

Total current assets

908,702842,855

383,697425,413

Goodwill

94,601

92,911

Other

138,716

200,156

Total intangible assets

233,317

293,068

Investment securities

886,222815,416

Recoverable accounts under production
sharing

568,318

583,755

Other

193,806

211,168

(715)

(753)

(100,671)(103,197)(6,280)(4,204)

Total investments and other assets

1,540,679

1,502,185

Total fixed assets

2,157,695

2,220,666

3,066,397

3,063,521

Fixed assets
Tangible fixed assets
Intangible assets

Investments and other assets

Less allowance for doubtful accounts
Less allowance for recoverable accounts
under production sharing
Less allowance for investments in
exploration

Total assets5更新日時:2012/08/03 13:30:00 印刷日時:12/08/03 13:30

ァイル名:③H25.3_第1四半期BS【OK】.doc(Millions of yen)Accounts

As of March 31, 2012

As of June 30, 2012

(Liabilities)
Current liabilities
Accounts payable-trade30,22829,994

Short-term loans

4,801

4,337

139,144

113,081

5,551

8,701

Accrued bonuses to officers

128

33

Asset retirement obligations

3,337

3,929

Other

184,651

167,805

Total current liabilities

367,843

327,884

313,972

305,831

Accrued retirement benefits to employees

6,340

6,387

Accrued special repair and maintenance

367

376

Asset retirement obligations

9,804

9,661

Other

53,87556,600Total long-term liabilities

384,361

378,857

Total liabilities

752,204

706,742

Common stock

290,809290,809

Capital surplus

679,287

679,287

Retained earnings

1,219,526

1,274,877

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

2,239,727

Unrealized holding gain (loss) on securities

6,952(2,923)

Unrealized gain from hedging instruments

4,118

1,833

Translation adjustments(16,195)(20,811)

Total accumulated other comprehensive
income(5,124)(21,902)

Minority interests

134,941

138,954

Total net assets

2,314,193

2,356,779

Total liabilities and net assets

3,066,397

3,063,521

Income taxes payable
Provision for exploration projects

Long-term liabilities
Long-term debt

(Net assets)
Shareholders’ equity

Total shareholders’ equity
Accumulated other comprehensive income6ァイル名:④H25.3第1四半期_PL_包括利益【OK】.doc

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

Accounts(Millions of yen)
For the three months ended
June 30, 2012

For the three months ended
June 30, 2011

Net sales

294,916

310,806

Cost of sales

94,861

104,320Gross profit

200,054

206,485

Exploration expenses

6,684

1,750

Selling, general and administrative expenses

17,13017,570Operating income

176,239

187,164

Interest income

1,112

1,498

Dividend income

1,353

1,073

―

4,232

Equity in earnings of affiliates

1,979

3,365

Gain on change in equity

4,678

―

Gain on transfer of mining rights―

15,304Foreign exchange gain

―

2,806

Other

1,480

1,422

Total other income

10,60329,704287

293

Provision for allowance for recoverable accounts under
production sharing

3,958

1,493

Provision for exploration projects

1,658

3,096

Loss on valuation of investment securities

133

3,305

Foreign exchange loss

664

―

Other

1,812

1,365

Total other expenses

8,513

9,554

Ordinary income

178,329

207,314

Income before income taxes and minority interests

178,329

207,314

Income taxes-current

135,153

128,546

Income taxes-deferred

629

6,596

Total income taxes

135,782

135,142

Income before minority interests

42,546

72,172

Minority interests

2,369

2,217

Net income

40,177

69,954

Other income

Gain on sales of investment securities

Other expenses
Interest expense7ァイル名:④H25.3第1四半期_PL_包括利益【OK】.doc

更新日時

Consolidated Statements of Comprehensive Income(Millions of yen)Accounts

For the three months ended
June 30, 2011

For the three months ended
June 30, 2012

42,546

72,172(388)(9,880)

Unrealized loss from hedging instruments―(2,284)

Translation adjustments

780(6,033)

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

479

1,649

Total other comprehensive income

870(16,549)

43,41755,622

Shareholders of INPEX CORPORATION

40,97953,177

Minority interests

2,438

2,445

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

Comprehensive income
Total comprehensive income attributable to8

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

Accounts

For the three months
ended June 30, 2012

Cash flows from operating activities
Income before income taxes and minority interests―

207,314

Depreciation and amortization―

13,485

Amortization of goodwill

―

1,690

Provision for allowance for recoverable accounts
under production sharing

―

2,356

Provision for exploration projects

―

3,048

Provision for accrued retirement benefits to employees―

44

Other provisions―

399

Interest and dividend income―(2,572)

Interest expense―

293

Foreign exchange gain

―

(450)

Equity in earnings of affiliates―(3,365)Gain on transfer of mining rights―(15,304)

Gain on sales of investment securities―(4,232)

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

12,510―(5,404)

Accounts receivable-trade―

24,244Inventories―(1,288)

Accounts payable-trade

―

(312)

Other

―

10,581

Subtotal―

243,038

Interest and dividends received

―

4,157

Interest paid

―

(780)

Income taxes paid―

(166,315)

Net cash provided by operating activities―

80,0989

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

Accounts

For the three months
ended June 30, 2012

Cash flows from investing activities
Increase in time deposits―(32,642)

Decrease in time deposits―

23,844

Decrease in long-term deposits

―

5,000

Payments for purchases of tangible fixed assets―(49,265)

Proceeds from sales of tangible fixed assets―

31

Payments for purchases of intangible assets

―

(284)

Payments for purchases of marketable securities―(2,600)

Proceeds from sales and redemptions of marketablesecurities―

78,153

Payments for purchases of investment securities―(10,098)

Proceeds from sales and redemptions of investment
securities
Investment in recoverable accounts under
production sharing (capital expenditures)―

10,305―(22,372)

Decrease in short-term loans receivable―

50

Long-term loans made―

(36,434)

Collection of long-term loans receivable―

42

Payments for purchase of mining rights―(81,504)

Proceeds from transfer of mining rights―

13,905

Other

―

2,605

Net cash used in investing activities―(101,263)

Repayments of long-term debt

―

(807)

Proceeds from minority interests for additional shares

―

1,567

Cash dividends paid―

(11,836)

Other

―

(10)

―

(11,086)―(6,622)

Net decrease in cash and cash equivalents―(38,874)

Cash and cash equivalents at beginning of the period―

249,233

Cash and cash equivalents at end of the period―

210,359

Cash flows from financing activities

Net cash used in financing activities
Effect of exchange rate changes on cash and cash
equivalents10更新日時:2012/08/03 13:30:00 印刷日時:12/08/03 13:30

ファイル名:⑥H25.3第1四半期セグメント-継続企業【OK】.doc(4) Conditions or events that indicate there could be substantial doubt about the Company’s ability to continue as a going concern
For the three months ended June 30, 2012 (April 1, 2012 through June 30, 2012):
None

11

更新日時:2012/08/03 13:30:00 印刷日時:12/08/03 13:30

ファイル名:⑥H25.3第1四半期セグメント-継続企業【OK】.doc(5) Segment information
I For the three months ended June 30, 2011 (April 1, 2011 through June 30, 2011)
1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Eurasia
Middle East
(Europe &Americas& Africa
NIS)

Adjustments Consolidated

Japan

Asia &
Oceania

24,679117,932

19,769131,169

1,366

294,916―

294,916

―

―

―

―

―

―

―

―

Total

24,679117,932

19,769131,169

1,366

294,916―

294,916

Segment income (loss)

3,933

74,738

11,472

92,948(4,232)

178,860(2,621)

176,239

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

Note: 1. Adjustments of segment income of ¥(2,621) million include elimination of inter-segment transactions of ¥59 million andcorporate expenses of ¥(2,680) million. Corporate expenses are mainly amortization of goodwill and general administrative
expenses that are not allocated to a reportable segment.
2. Segment income is reconciled with operating income on the consolidated statements of income.
2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
None

II

For the three months ended June 30, 2012 (April 1, 2012 through June 30, 2012)

1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Eurasia
Middle East
(Europe &Americas& Africa
NIS)

Adjustments Consolidated

Japan

Asia &
Oceania

26,027143,039

20,031

120,550

1,157

310,806―

310,806

―

―

―

―

―

―

―

―

Total

26,027143,039

20,031

120,550

1,157

310,806―

310,806

Segment income (loss)

4,888

91,073

9,878

84,598(805)

189,633(2,468)187,164

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

Note: 1. Adjustments of segment income of ¥(2,468) million include elimination of inter-segment transactions of ¥56 million andcorporate expenses of ¥(2,524) million. Corporate expenses are mainly amortization of goodwill and general administrative
expenses that are not allocated to a reportable segment.
2. Segment income is reconciled with operating income on the consolidated statements of income.
2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
None

12

更新日時:2012/08/03 13:30:00 印刷日時:12/08/03 13:30

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

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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 three months ended
June 30, 2011
0.3 MMbbls(3.2 Mbbls per day)
9.5 Bcf(104.4 MMcf per day)
2.1 MMboe(22.8 Mboe per day)
53.5 Mkl(336.3 Mbbls)
104.8 tons

For the three months ended
June 30, 2012
0.3 MMbbls(3.5 Mbbls per day)10.8 Bcf(118.6 MMcf per day)
2.3 MMboe(25.8 Mboe per day)48.0 Mkl(301.9 Mbbls)
113.0 tons

40.7 millions kWh

44.4 millions kWh

5.0 MMbbls(54.6 Mbbls per day)75.3 Bcf(828.0 MMcf per day)19.3 MMboe(212.2 Mboe per day)
2.4 MMbbls(26.3 Mbbls per day)13.9 MMbbls(152.6 Mbbls per day)
0.5 MMbbls(5.1 Mbbls per day)
6.9 Bcf(75.9 MMcf per day)
1.7 MMbbls(18.9 Mboe per day)22.0 MMbbls(241.9 Mbbls per day)
91.8 Bcf(1,008.3 MMcf per day)
39.4 MMboe(432.7 Mboe per day)
53.5 Mkl(336.3 Mbbls)
104.8 tons

6.3 MMbbls(69.4 Mbbls per day)57.0 Bcf(626.0 MMcf per day)17.1 MMboe(188.3 Mboe per day)
2.4 MMbbls(26.3 Mbbls per day)14.0 MMbbls(153.4 Mbbls per day)
0.1 MMbbls(0.6 Mbbls per day)
6.0 Bcf(65.4 MMcf per day)
1.1 MMboe(12.4 Mboe per day)23.0 MMbbls(253.2 Mbbls per day)
73.7 Bcf(810.0 MMcf per day)37.0 MMboe(406.1 Mboe per day)48.0 Mkl(301.9 Mbbls)
113.0 tons

40.7 millions kWh

44.4 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 three months ended June 30 regardless of a closing date of fiscal periods of its
subsidiaries or affiliates.
5. The production volume of crude oil and natural gas under the production sharing contracts entered into by INPEX Groupcorresponds to the net economic take of the group.
Figures calculated by multiplying the gross production volume by the Company’s interest share are 31.2 MMbbls (343.3 Mbbls perday) of crude oil, 131.0 Bcf (1,439.7 MMcf per day) of natural gas, and in total 56.1 MMboe (616.5 Mboe per day) for the threemonths ended June 30, 2011, and 30.5 MMbbls (334.8 Mbbls per day) of crude oil, 103.1 Bcf (1,132.7 MMcf per day) of naturalgas, and in total 50.0 MMboe (549.3 Mboe per day) for the three months ended June 30, 2012.
6. Boe means barrels of oil equivalent.
7. The volume of petroleum products is converted to bbl in parenthesis. Applied coefficient is 6.29 bbls per kl.
8. Iodine is refined by other company on consignment.
9. Figures are rounded to the first decimal place.
10. Subtotal of the production volume of crude oil and natural gas for the three months ended June 30, 2011 has been changed reflecting
the change in method to convert the volume from natural gas to crude oil from the year ended March 31, 2012.

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

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

Segment

CategoryJapan

Crude OilNatural Gas(excluding LPG)
LPG

Asia & Oceania

71 Mbbls696

1 Mbbls

15

14,337 MMcf

16,366

14,779 MMcf

18,43968 Mbbls808

73 Mbbls

846

Other

6,807

6,725

Subtotal

24,67926,027

Crude OilNatural Gas(excluding LPG)
LPG

3,237 Mbbls

30,527

5,729 Mbbls

54,65673,152 MMcf

86,04158,006 MMcf

80,921

1,363

1,069 Mbbls

200 Mbbls

Subtotal
Eurasia(Europe & NIS)
Middle East & Africa

7,460
143,039

Crude Oil

2,051 Mbbls

19,7692,309 Mbbls

20,031

Crude Oil

14,230 Mbbls

131,169

13,844 Mbbls

120,550

20 Mbbls

144

18 Mbbls

158

7,079 MMcf

1,222

6,096 MMcf

999

1,366

Crude OilNatural Gas(excluding LPG)
LPG

Total

Notes:

117,932

Crude OilNatural Gas(excluding LPG)
Subtotal

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

For the three months ended
June 30, 2011
Sales volume
Net sales

1,157

19,608 Mbbls

182,307

21,902 Mbbls

195,412

94,568 MMcf

103,630

78,881 MMcf

100,360

268 Mbbls

2,171

1,142 Mbbls

8,307

Other

6,807

6,725

Total

294,916

310,806

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 three months ended March 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.

Customer

PERTAMINA

For the three months
ended June 30, 2011

For the three months
ended June 30, 2012

Amounts

Ratio

Amounts

Ratio（Millions of yen）(%)

（Millions of yen）(%)

57,08519.4

1564,78320.8