Consolidated Financial Results for the Three Months ended June 30, 2015 [Japanese GAAP]
August 7, 2015
Note: The following report is an English translation of the Japanese-language original.
: INPEX CORPORATION
Stock Exchange on which the Company is listed : Tokyo Stock Exchange: 1605
URL http://www.inpex.co.jp: Toshiaki Kitamura, President: Kimihisa Kittaka, General Manager, Corporate Communications Unit
TEL+81-3-5572-0233
Scheduled date of filing Quarterly Financial Report: August 11, 2015
Scheduled date of payment of cash dividends:―
Preparation of supplementary explanatory materials: Yes
Meeting of quarterly financial results presentation: No
Company name
Code number
Representative
Contact person(Amounts less than one million yen are rounded off)
1. Consolidated Financial Results for the Three Months ended June 30, 2015 (April 1, 2015-June 30, 2015)(1) Consolidated operating results(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales
For the three months ended
June 30, 2015

Operating income

Millions of Yen%

244,292
341,170

June 30, 2014

Net income attributableto owners of parent

Ordinary income

Millions of Yen%

Millions of Yen%(28.4)

95,46012.8

178,997

Millions of Yen%(46.7)

100,973

13.7

194,089(48.0)

23,966(54.3)

28.9

52,44774.9(Note): Consolidated comprehensive income: for the three months ended June 30, 2015, ¥(7,696) million; ( %)for the three months ended June 30, 2014, ¥31,724 million; (-65.3%)

Net income pershare—basic

Net income pershare—diluted

For the three months ended
June 30, 2015

Yen
16.41

June 30, 2014

35.91

Yen

(2) Consolidated financial position

Millions of Yen

Millions of Yen

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

As of June 30, 2015

4,509,423

3,309,511

68.0

As of March 31, 2015

4,499,153

3,288,703

68.2

Total assets

Net assets(Reference): Net assets excluding non-controlling interests: as of June 30, 2015, ¥3,067,135 million
as of March 31, 2015, ¥3,066,680 million

2. Dividends
Cash dividends per share
At 1st quarter end At 2nd quarter end At 3rd quarter end
For the year ended
March 31, 2015
For the year ending
March 31, 2016
For the year ending
March 31, 2016 (forecast)

Yen

Yen

Yen

At fiscal year end

Total

Yen

Yen

9.00

9.00

18.00

9.00

9.00

18.00

(Note):1. Changes in projected dividends for the year ending March 31, 2016 from the previous forecast: None
2. Above information of "Dividends" is regarding common stock. For information regarding Class A stock (which is not listed), please refer to
Exhibit "Dividends of Class A stock".

3. Forecasted Consolidated Financial Results for the year ending March 31, 2016 (April 1, 2015-March 31, 2016)(Figures in % represent the changes from the previous fiscal year)

Net sales
Millions of Yen

For the six months ending
September 30, 2015
For the year ending
March 31, 2016%

Operating income

Ordinary income

Millions of Yen

Millions of Yen%

Net income
attributable toowners of parent%

Millions of Yen

Net income per
share
%

Yen

588,000 (11.3)

251,000 (27.6)

255,000 (30.8)

40,000 (54.9)

27.39

0.8

471,000 (11.9)

479,000 (16.7)

70,000 (10.0)

47.93

1,181,000(Note):Changes in forecasted consolidated financial results for the year ending March 31, 2016 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: Yes: None: None: None(Note): Please refer to "2.(3) Changes in accounting policies, accounting estimates and restatement of corrections" on page 5 for further information.

(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 June 30, 2015
1,462,323,600 shares as of March 31, 2015
1,966,400 shares as of June 30, 2015
1,966,400 shares as of March 31, 2015
1,460,357,200 shares for the three months ended June 30, 2015
1,460,357,200 shares for the three months ended June 30, 2014

* 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
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
At 1st quarter end At 2nd quarter end At 3rd quarter end
For the year ended
March 31, 2015
For the year ending
March 31, 2016
For the year ending
March 31, 2016 (forecast)At fiscal year end

Total

Yen

Yen

Yen

Yen

Yen

―

3,600.00―

3,600.00

7,200.00

3,600.00―

3,600.00

7,200.00―

Index of the Attachments
1. Qualitative Information / Financial Statements

2(1) Explanation on Consolidated Financial Results

2(2) Explanation on Consolidated Financial Position

3(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results

4

2. Notes Regarding Summary Information (Notes)

5(1) Significant changes in scope of consolidation

5(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements

5(3) Changes in accounting policies, accounting estimates and restatement of corrections

5

3. Consolidated Financial Statements

6(1) Consolidated Balance Sheet

6(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income

8

Consolidated Statement of Income

8

Consolidated Statement of Comprehensive Income

9(3) Consolidated Statement of Cash Flows

10(4) Notes to Consolidated Financial Statements

12(Conditions or events that indicate there could be substantial doubt about
the Company's ability to continue as a going concern)

12(Note on significant changes in shareholders' equity)

12(Segment information)

13(Subsequent events)

13
14

4. Supplementary Information(1) Production, Orders Received and Sales Performance

141

1. Qualitative Information ⁄ Financial Statements(1) Explanation on Consolidated Financial Results
Net sales for the three months ended June 30, 2015 decreased by ¥96.8 billion, or 28.4%, to ¥244.2 billion from the corresponding
period of the previous fiscal year due to a decrease in sales price of crude oil and overseas natural gas.
Net sales of crude oil decreased by ¥71.4 billion, or 31.5%, to ¥155.0 billion, and net sales of natural gas decreased by ¥24.0
billion, or 21.9%, to ¥85.7 billion.
Sales volume of crude oil increased by 343 thousand barrels, or 1.7%, to 20,661 thousand barrels. Sales volume of natural gas
increased by 5,947 million cf, or 7.9%, to 81,459 million cf. Sales volume of overseas natural gas increased by 6,329 million cf, or
10.5%, to 66,683 million cf, and sales volume of domestic natural gas decreased by 10 million ㎥, or 2.5%, to 396 million ㎥(14,776 million cf).
The average sales price of overseas crude oil decreased by US$47.02, or 43.2%, to US$61.82 per barrel. Meanwhile, the averagesales price of overseas natural gas decreased by US$5.62, or 42.9%, to US$7.48 per thousand cf. In addition, the average sales
price of domestic natural gas increased by ¥0.12, or 0.2%, to ¥57.63 per ㎥. The average exchange rate of Japanese yen against
U.S. dollar on consolidated net sales depreciated by ¥19.07, or 18.7%, to ¥121.06 per U.S. dollar from the corresponding period of
the previous fiscal year.
The decrease of ¥96.8 billion in net sales was mainly derived from the following factors: regarding net sales of crude oil andnatural gas, an increase in sales volume contributing ¥10.0 billion to the increase, a decrease in unit sales price pushing sales downof ¥139.7 billion, the depreciation of the Japanese yen against the U.S. dollar contributing ¥34.1 billion to the increase, and adecrease in net sales excluding crude oil and natural gas of ¥1.4 billion.
Cost of sales for the three months ended June 30, 2015 decreased by ¥5.5 billion, or 4.2%, to ¥126.2 billion due mainly to adecrease in royalty owing to a decrease in net sales in the ADMA block. Exploration expenses decreased by ¥7.5 billion, or
87.8% , to ¥1.0 billion due mainly to a decrease in exploration activities in the Americas region. Selling, general andadministrative expenses decreased by ¥0.2 billion, or 1.3% , to ¥21.5 billion. As a result, operating income decreased by¥83.5 billion, or 46.7%, to ¥95.4 billion.
Other income increased by ¥3.7 billion, or 19.5%, to ¥22.7 billion due to an increase in gain on sales of investment securities andothers. Other expenses increased by ¥13.2 billion, or 339.4%, to ¥17.2 billion due to an increase in provision for allowance forrecoverable accounts under production sharing and others. As a result, ordinary income and income before income taxes and noncontrolling interests decreased by ¥93.1 billion, or 48.0%, to ¥100.9 billion.
Total amount of current income taxes and deferred income taxes decreased by ¥56.2 billion, or 40.8%, to ¥81.4 billion, net income
decreased by ¥36.8 billion, or 65.4%, to ¥19.4 billion, and net loss attributable to non-controlling interests were ¥4.4 billion. As aresult of the above effects, net income attributable to owners of parent for the three months ended June 30, 2015 decreased by¥28.4 billion, or 54.3%, to ¥23.9 billion.
Financial results by segment are as follows:
1) JapanNet sales decreased by ¥3.2 billion, or 10.7%, to ¥27.3 billion due to a decrease in sales volume of crude oil and natural gas.
Operating income decreased by ¥4.4 billion, or 86.7%, to ¥0.6 billion.
2) Asia & Oceania
Net sales decreased by ¥22.2 billion, or 19.3%, to ¥92.7 billion due to a decrease in sales prices of crude oil and natural gas,
despite an increase in sales volume of crude oil and natural gas and the depreciation of Japanese yen against U.S. dollar. Operating
income decreased by ¥23.8 billion, or 40.7%, to ¥34.7 billion.
3) Eurasia (Europe & NIS)
Net sales decreased by ¥17.2 billion, or 48.6%, to ¥18.2 billion due to decreases in sales volume and sales price of crude oil,despite the depreciation of Japanese yen against U.S. dollar. Operating income decreased by ¥12.1 billion, or 69.8%, to ¥5.2
billion.
4) Middle East & Africa
Net sales decreased by ¥52.8 billion, or 33.7%, to ¥103.8 billion due to decreases in sales volume and sales price of crude oil,despite the depreciation of Japanese yen against U.S. dollar. Operating income decreased by ¥47.4 billion, or 44.7%, to ¥58.7
billion.
5) Americas
Net sales decreased by ¥1.2 billion, or 37.4%, to ¥2.1 billion due to a decrease in sales price of crude oil and natural gas, despite
an increase in sales volume of crude oil and the depreciation of Japanese yen against U.S. dollar. Meanwhile, operating loss
decreased by ¥4.3 billion, or 73.7%, to ¥1.5 billion due to a decrease in exploration expenses and others.

2(2) Explanation on Consolidated Financial Position
Total assets as of June 30, 2015 increased by ¥10.2 billion to ¥4,509.4 billion from ¥4,499.1 billion as of March 31, 2015. Current
assets decreased by ¥271.6 billion to ¥1,070.7 billion due to a decrease in cash and deposits and others. Fixed assets increased by¥281.8 billion to ¥3,438.6 billion due to an increase in intangible assets and others.
Meanwhile, total liabilities decreased by ¥10.5 billion to ¥1,199.9 billion from ¥1,210.4 billion as of March 31, 2015. Current
liabilities decreased by ¥9.7 billion to ¥355.4 billion and long-term liabilities decreased by ¥0.7 billion to ¥844.4 billion.
Net assets increased by ¥20.8 billion to ¥3,309.5 billion. Total shareholders' equity increased by ¥10.8 billion to ¥2,560.3 billion.
Total accumulated other comprehensive income decreased by ¥10.3 billion to ¥506.8 billion and non-controlling interests in net
assets increased by ¥20.3 billion to ¥242.3 billion.
Cash and cash equivalents as of June 30, 2015 totaled ¥150.7 billion reflecting a net decrease of ¥110.2 billion from¥260.9 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 ¥33.4 billion to ¥9.5 billion from the corresponding period of theprevious fiscal year. This is due mainly to decreases in income before income taxes and non-controlling interests and income
taxes paid owing to a decrease in sales prices of crude oil and overseas natural gas.
2) Cash flows from investing activities
Net cash used in investing activities increased by ¥74.8 billion to ¥139.8 billion. This is due mainly to increases in paymentsfor purchase of mining rights and long-term loans made, despite an increase in proceeds from time deposits and a decrease inpayments for long-term time deposits.
3) Cash flows from financing activities
Net cash provided by financing activities was ¥21.3 billion, meanwhile, net cash used in financing activities for the previous
period was ¥1.0 billion. This is due mainly to an increase in proceeds from non-controlling interests for additional shares,
despite an increase in repayments of long-term debt.

3

(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results
Forecasts for consolidated financial results for the six months ending September 30, 2015 and the year ending March 31, 2016
have been revised from the previous forecasts presented on May 14, 2015, taking into consideration the consolidated financial
results for the three months ended June 30, 2015.
Forecasts for consolidated financial results for the six months ending September 30, 2015
Net sales

Operating income(Millions of yen)

Net income attributable toOrdinary income
owners of parent
243,000
34,000Previous Forecasts: A

595,000

234,000

Revised Forecasts: B

588,000

251,000

255,000

40,000

Increase (Decrease): B A(7,000)17,00012,0006,000

Percentage change (%)

(1.2)

7.3

4.9

17.6

Forecasts for consolidated financial results for the year ending March 31, 2016

(Millions of yen)Previous Forecasts: A

1,249,000

489,000

Net income attributable toowners of parent
512,000
70,000

Revised Forecasts: B

1,181,000

471,000

479,000

70,000

Increase (Decrease): B A(68,000)(18,000)(33,000)

―

(5.4)

(3.7)

(6.4)

―

Net sales

Percentage change (%)

Operating income

Ordinary income

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

Revised Forecasts

Crude oil price(Brent)Full Year: US$ 65.0/bbl (Average)

1st quarter (actual): US$ 63.5/bbl
From 2nd quarter: US$ 60.0/bbl
US$ 60.9/bbl (Average)
Full Year:

Exchange rate

Full Year: ¥120.0/US$ (Average)

1st quarter (actual): ¥121.4/US$
From 2nd quarter: ¥120.0/US$¥120.4/US$ (Average)
Full Year:

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 andBrent price. Price differences are caused by its quality and its pricing range which is affected by the market conditions. Most of the crude oil prices theCompany sells are lower than Brent price.

42. Notes Regarding Summary Information (Notes)(1) Significant changes in scope of consolidation:
None(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements:
None(3) Changes in accounting policies, accounting estimates and restatement of corrections:(Changes in accounting policies)
Effective from the three months ended June 30, 2015, the Company has applied the "Revised Accounting Standard for Business
Combinations" (Accounting Standards Board of Japan Statement No.21, issued on September 13, 2013), "Revised AccountingStandard for Consolidated Financial Statements" (ASBJ Statement No.22, issued on September 13, 2013), "Revised AccountingStandard for Business Divestitures" (ASBJ Statement No.7, issued on September 13, 2013), and other standards.
Accordingly, any difference arising from changes in the Company's ownership interest in a subsidiary when the Company retains
control over the subsidiary is recognized in capital surplus, and acquisition-related costs are expensed in the fiscal year in which
the costs are incurred.
As for business combinations executed at or after the beginning of the three months ended June 30, 2015, adjustments to theallocation of acquisition costs after the confirmation of the provisional accounting treatment are reflected in the quarterly
consolidated financial statements for the fiscal period which includes the acquisition date.
In addition, the presentation method of net income was amended and "minority interests" was renamed "non-controlling interests".
To reflect these changes in presentation, consolidated financial statements for the three months ended June 30, 2014 and for theyear ended March 31, 2015 have been reclassified.
The Company has applied these standards from the beginning of the three months ended June 30, 2015 in accordance withtransitional treatments as stated in Section 58-2(4) of the "Revised Accounting Standard for Business Combinations", Section 445(4) of the "Revised Accounting Standard for Consolidated Financial Statements", and Section 57-4(4) of the "Revised
Accounting Standard for Business Divestitures".
There is no impact of these changes on consolidated financial statements for the three months ended June 30, 2015.

5

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

As of March 31, 2015

As of June 30, 2015

(Assets)
Current assets
Cash and deposits

922,683

672,462

Accounts receivable-trade77,20986,712Marketable securities

162,289

127,799

Inventories

31,65235,913

Other

161,481

160,809

Less allowance for doubtful accounts(12,905)(12,909)

Total current assets

1,342,409

1,070,787

Buildings and structures, net

138,010

133,697

Wells, net

36,39135,097

Machinery, equipment and vehicles, net

109,686

122,541

Land

19,86919,896

1,173,409

1,244,631

20,254

19,336

1,497,621

1,575,201

Goodwill

74,31972,629Other384,450

510,318

Total intangible assets

458,769

582,947

Investment securities

284,090

266,899

Recoverable accounts under production sharing

703,291

728,266

Other

345,803430,156

Less allowance for doubtful accounts

Fixed assets
Tangible fixed assets

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

Investments and other assets(8,398)(8,485)Less allowance for recoverable accounts under
production sharing(121,707)(134,047)

Less allowance for investments in exploration(2,727)(2,303)

1,200,352

1,280,485

3,156,743

3,438,635

4,499,153

4,509,423

Total investments and other assets
Total fixed assets
Total assets

6

(Millions of yen)Accounts

As of March 31, 2015

As of June 30, 2015

(Liabilities)
Current liabilities
Accounts payable-trade53,47455,214

Short-term loans

33,206

38,624

Income taxes payable

60,18540,144

Provision for exploration projects

9,492

8,364

Accrued bonuses to officers

70

17

Asset retirement obligations

1,093

396

Other

207,690

212,655

Total current liabilities

365,212355,416

643,951

638,203

9,080

9,246

227

240

Liability for retirement benefits

6,700

6,538

Asset retirement obligations

105,234

108,597

Other

80,044

81,668

Total long-term liabilities

845,238

844,495

1,210,450

1,199,911

Common stock

290,809290,809

Capital surplus

679,287

679,287

Retained earnings

1,584,645

1,595,468

Treasury stock(5,248)(5,248)2,549,494

2,560,318

Unrealized holding gain on securities

46,04945,931

Unrealized loss from hedging instruments(36,423)(28,457)

Translation adjustments

507,560

489,342

Total accumulated other comprehensive income

517,185

506,817

222,023

242,375

Total net assets

3,288,703

3,309,511

Total liabilities and net assets

4,499,153

4,509,423

Long-term liabilities
Long-term debt
Provision for loss on business
Accrued special repair and maintenanceTotal liabilities(Net assets)
Shareholders' equity

Total shareholders' equity
Accumulated other comprehensive income

Non-controlling interests7(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income
Accounts

For the three months ended
June 30, 2014

(Millions of yen)
For the three months ended
June 30, 2015

Net sales

341,170

244,292

Cost of sales

131,807126,289

Gross profit

209,362

118,003

Exploration expenses

8,575

1,042

Selling, general and administrative expenses

21,78921,500Operating income

178,997

95,460Interest income

2,328

2,194

Dividend income

1,479

1,693

Other income

Gain on sales of investment securities

5,663

Equity in earnings of affiliates

3,511

Foreign exchange gain

9,913

8,256

Other

1,774

4,915

Total other income

19,00822,724604

1,162

Other expenses
Interest expense
Equity in losses of affiliates

1,007

Provision for allowance for recoverable accounts under
production sharing

586

13,203

Provision for exploration projects

1,204

568

Other

1,521

1,268

Total other expenses

3,917

17,210Ordinary income

194,089

100,973

Income before income taxes and non-controlling interests

194,089

100,973

Income taxes-current

137,30275,975

Income taxes-deferred

438

5,505

Total income taxes

137,741

81,480Net income

56,347

19,493

Net income (loss) attributable to non-controlling interests

3,900(4,473)

Net income attributable to owners of parent

52,44723,966

8

Consolidated Statement of Comprehensive Income
Accounts

For the three months ended
June 30, 2014

Net income(Millions of yen)
For the three months ended
June 30, 2015

56,347

19,493

(363)

(123)

(29,776)(34,495)

5,517

7,430

(24,623)(27,189)

31,724(7,696)

Owners of parent

30,706

13,598Non-controlling interests

1,017(21,294)

Other comprehensive income
Unrealized holding 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 to9(3) Consolidated Statement of Cash Flows
For the three months ended
June 30, 2014

Accounts(Millions of yen)
For the three months ended
June 30, 2015

Cash flows from operating activities
Income before income taxes and non-controlling interests

194,089

100,973

Depreciation and amortization

12,886

14,100

Amortization of goodwill

1,690

1,690

Provision for allowance for recoverable accounts
under production sharing

2,574

13,559Provision for exploration projects

(750)

(965)

Other provisions

(72)

(19)

Liability for retirement benefits

(51)

40

Interest and dividend income(3,808)(3,888)

604

1,162

(6,495)(3,820)Interest expense
Foreign exchange loss (gain)
Gain on sales of investment securities(5,663)Equity in (earnings) losses of affiliates(3,511)

1,007

18,536

14,985(13,671)(22,120)

Accounts receivable-trade(36,710)(14,919)

Inventories(1,904)(2,396)

Accounts payable-trade

5,987

3,968

Other

10,003577

Subtotal

179,396

98,272

Interest and dividends received

9,756

10,757

Interest paid

(200)

(533)

(146,004)(98,995)

42,949

9,501

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

Income taxes paid
Net cash provided by (used in) operating activities

10For the three months ended
June 30, 2014

Accounts(Millions of yen)
For the three months ended
June 30, 2015

Cash flows from investing activities
Payments for time deposits(40,961)(43,477)

Proceeds from time deposits

163,306

247,928

Payments for long-term time deposits(81,698)(32,710)

Payments for purchases of tangible fixed assets(108,128)(115,675)

Proceeds from sales of tangible fixed assets

27

16

Payments for purchases of intangible assets(791)(5,553)

Proceeds from sales and redemptions of marketable securities

35,00049,961

Payments for purchases of investment securities(5,239)(6,400)

Proceeds from sales and redemptions of investment securities

15,0009,934

Investment in recoverable accounts under production sharing(capital expenditures)(20,571)(16,413)

(972)

66

(2,056)(96,143)

Collection of long-term loans receivable

81

178

Payments for purchase of mining rights(17,929)(132,278)

(1)

737

(64,935)(139,829)20

74

Decrease (increase) in short-term loans receivable
Long-term loans madeOther
Net cash provided by (used in) investing activities
Cash flows from financing activities
Increase (decrease) in short-term loans
Proceeds from long-term debt

5,058

Repayments of long-term debt

(4,239)(9,695)

Proceeds from non-controlling interests for additional shares

8,886

41,647(10,653)(10,653)

(79)

(9)

(1,006)

21,364

Effect of exchange rate changes on cash and cash equivalents(1,180)(1,260)Net increase (decrease) in cash and cash equivalents(24,173)(110,224)

Cash and cash equivalents at beginning of the period

117,530

260,978

Cash and cash equivalents at end of the period

93,357150,753

Cash dividends paid
Other
Net cash provided by (used in) financing activities11(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 three months ended June 30, 2015 (April 1, 2015 through June 30, 2015):
None(Note on significant changes in shareholders' equity)
For the three months ended June 30, 2015 (April 1, 2015 through June 30, 2015):
None

12

(Segment information)
I. For the three months ended June 30, 2014 (April 1, 2014 through June 30, 2014)
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)

30,602

114,955

35,473

156,7543,384

341,170―

341,170

―

―

―

―

―

―

―

―

30,602

114,955

35,473

156,7543,384

341,170―

341,170

5,092

58,603

17,438106,246(5,834)

181,545(2,548)

178,997

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 ¥(2,548) million include elimination of inter-segment transactions of ¥52 million and corporate expenses of¥(2,600) million. Corporate expenses are mainly amortization of goodwill and general administrative expenses that are not allocated to a reportablesegment.
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 three months ended June 30, 2015 (April 1, 2015 through June 30, 2015)
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)

27,32992,74018,222

103,8812,118

244,292―

244,292

―

―

―

―

―

―

―

―

27,32992,74018,222

103,8812,118

244,292―

244,292

679

34,776

5,274

58,793(1,534)

97,988(2,528)95,460

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 ¥(2,528) million include elimination of inter-segment transactions of ¥51 million and corporate expenses of¥(2,580) million. Corporate expenses are mainly amortization of goodwill and general administrative expenses that are not allocated to a reportablesegment.
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 three months ended June 30, 2015 (April 1, 2015 through June 30, 2015):
None

13

4. Supplementary Information(1) Production, Orders Received and Sales Performance1) Actual production
The following table shows actual production by segment:
For the three months ended
Segment
Category
June 30, 2014
0.3 MMbbls
Crude oil
(3.0 Mbbls per day)10.1 Bcf
Natural gas(110.7 MMcf per day)
2.2 MMboe
Japan
Subtotal(23.8 Mboe per day)
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
IodineElectric power
generation

For the three months ended
June 30, 2015
0.2 MMbbls(2.6 Mbbls per day)
8.4 Bcf(92.7 MMcf per day)
1.8 MMboe(20.0 Mboe per day)

128.4 tons

133.9 tons

56.7 million kWh

54.1 million kWh

3.5 MMbbls(38.2 Mbbls per day)61.3 Bcf(673.5 MMcf per day)15.0 MMboe(165.0 Mboe per day)
2.3 MMbbls(25.5 Mbbls per day)14.7 MMbbls(162.0 Mbbls per day)
0.2 MMbbls(2.4 Mbbls per day)
9.2 Bcf(101.3 MMcf per day)
1.9 MMboe(20.4 Mboe per day)21.0 MMbbls(231.0 Mbbls per day)80.6 Bcf(885.5 MMcf per day)
36.1 MMboe(396.7 Mboe per day)

4.4 MMbbls(48.5 Mbbls per day)66.3 Bcf(728.5 MMcf per day)16.9 MMboe(185.4 Mboe per day)
2.5 MMbbls(27.9 Mbbls per day)20.9 MMbbls(229.8 Mbbls per day)
0.7 MMbbls(7.2 Mbbls per day)
8.4 Bcf(92.1 MMcf per day)
2.1 MMboe(23.5 Mboe per day)
28.8 MMbbls(316.0 Mbbls per day)83.1 Bcf(913.4 MMcf per day)
44.3 MMboe(486.7 Mboe per day)

128.4 tons

133.9 tons

56.7 million kWh

54.1 million kWh

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 three months ended June 30 regardless of a closing date of fiscal periods of its subsidiaries or affiliates.
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 28.5 MMbbls (313.0 Mbbls per day) of crude oil,104.4 Bcf (1,147.3 MMcf per day) of natural gas, and in total 48.1 MMboe (528.7 Mboe per day) for the three months ended June 30, 2014, and 34.3
MMbbls (376.4 Mbbls per day) of crude oil, 106.5 Bcf (1,170.4 MMcf per day) of natural gas, and in total 54.2 MMboe (595.6 Mboe per day) for thethree months ended June 30, 2015.
5. Boe means barrels of oil equivalent.
6. Iodine is refined by other company on consignment.
7. Figures are rounded to one decimal place.

142) Orders received
Disclosure on this information is omitted because the amount of orders received is accounted for a minor portion of total sales.
3) Actual sales
The following table shows sales by segment:

Segment

CategoryJapan

Crude oil

210 Mbbls

2,349

135 Mbbls

1,063

Natural gas(excluding LPG)

15,158 MMcf

23,36014,776 MMcf

22,8182 Mbbls

14

2 Mbbls

12

LPG

Asia & Oceania(Millions of yen)
For the three months ended
June 30, 2015
Sales volume
Net sales

For the three months ended
June 30, 2014
Sales volume
Net sales

Other

4,877

3,434

Subtotal

30,602

27,329Crude oil

2,826 Mbbls

31,851

4,068 Mbbls

31,002Natural gas(excluding LPG)

50,745 MMcf

77,15357,678 MMcf

58,894LPG

734 Mbbls

5,950

541 Mbbls

2,842

Subtotal

114,955

92,740Eurasia(Europe & NIS)

Crude oil

3,089 Mbbls

35,473

2,399 Mbbls

18,222

Middle East & Africa

Crude oil

14,188 Mbbls

156,754

13,896 Mbbls

103,881

Crude oil

6 Mbbls66

163 Mbbls

896

9,609 MMcf

3,317

9,005 MMcf

1,222

Natural gas(excluding LPG)

Americas

Subtotal

Total

3,384

2,118

Crude oil

20,319 Mbbls

226,495

20,661 Mbbls

155,066

Natural gas(excluding LPG)

75,512 MMcf

103,831

81,459 MMcf

82,935LPG

735 Mbbls

5,965

542 Mbbls

2,855

Other

4,877

3,434

Total

341,170

244,292

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 threemonths 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 in consolidation.
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, andthey are sold to Japanese, Korean and Taiwanese customers in the form of LNG.

Customer

For the three months ended
June 30, 2014
Ratio
Amounts(Millions of yen)(%)

For the three months ended
June 30, 2015
Amounts
Ratio(Millions of yen)(%)

PERTAMINA

50,437

27,94715

14.8

11.4