Consolidated Financial Results for the Nine Months ended December 31, 2016 [Japanese GAAP]
February 10, 2017
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: Munehiro Hosono, General Manager, Corporate Communications Unit
TEL+81-3-5572-0233
Scheduled date of filing Quarterly Financial Report: February 14, 2017:―
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 Nine Months ended December 31, 2016 (April 1, 2016-December 31, 2016)(1) Consolidated operating results(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales
For the nine months ended
December 31, 2016

Operating income

Net income attributableto owners of parent

Ordinary income

Millions of Yen%

Millions of Yen%

Millions of Yen%

Millions of Yen%

623,489(22.9)

235,808(30.3)

256,569(27.6)

47,929(28.9)

809,091(12.7)

338,354(25.3)

354,339(28.0)

67,453(33.7)

December 31, 2015

(Note): Consolidated comprehensive income: for the nine months ended December 31, 2016, ¥1,306 million; ( %)for the nine months ended December 31, 2015, ¥(9,174) million; ( %)Net income pershare—basic

Net income pershare—diluted

For the nine months ended
December 31, 2016

Yen
32.82

December 31, 2015

46.19

Yen

(2) Consolidated financial position

Millions of Yen

Millions of Yen

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

As of December 31, 2016

4,371,264

3,158,850

66.6

As of March 31, 2016

4,369,841

3,178,803

67.1

Total assets

Net assets(Reference): Net assets excluding non-controlling interests: as of December 31, 2016, ¥2,911,891 million
as of March 31, 2016, ¥2,932,892 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, 2016
For the year ending
March 31, 2017
For the year ending
March 31, 2017 (forecast)

Yen

Yen

9.00

Yen

At fiscal year end

Total

Yen

Yen

9.00

18.00

9.00

18.00

9.00

(Note): 1. Changes in projected dividends for the year ending March 31, 2017 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, 2017 (April 1, 2016-March 31, 2017)(Figures in % represent the changes from the previous fiscal year)

Net sales
Millions of Yen

For the year ending
March 31, 2017%

Net income
Net income per
attributable to owners
shareof parent

Operating income

Ordinary income

Millions of Yen%

Millions of Yen%

335,000 (14.1)

340,000(9.3)

878,000 (13.0)

Millions of Yen%

Yen

48,000 186.1

32.87(Note): Changes in forecasted consolidated financial results for the year ending March 31, 2017 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: Yes: 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 December 31, 2016
1,462,323,600 shares as of March 31, 2016
1,966,500 shares as of December 31, 2016
1,966,400 shares as of March 31, 2016
1,460,357,160 shares for the nine months ended December 31, 2016
1,460,357,200 shares for the nine months ended December 31, 2015

* 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, 2016
For the year ending
March 31, 2017
For the year ending
March 31, 2017 (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)

1415

4. Supplementary Information(1) Production, Orders Received and Sales Performance15

11. Qualitative Information ⁄ Financial Statements(1) Explanation on Consolidated Financial Results
Net sales for the nine months ended December 31, 2016 decreased by ¥185.6 billion, or 22.9%, to ¥623.4 billion from thecorresponding period of the previous fiscal year due to a decrease in sales prices of crude oil and natural gas.
Net sales of crude oil decreased by ¥107.2 billion, or 19.4%, to ¥444.3 billion, and net sales of natural gas decreased by ¥77.8
billion, or 31.5%, to ¥169.5 billion.
Sales volume of crude oil increased by 6,318 thousand barrels, or 7.3%, to 92,741 thousand barrels. Sales volume of natural gas
decreased by 214 million cf, or 0.1%, to 249,896 million cf. Sales volume of overseas natural gas decreased by 3,473 million cf,
or 1.7%, to 201,647 million cf, and sales volume of domestic natural gas increased by 87 million ㎥, or 7.2%, to 1,293 million ㎥(48,249million cf).
The average sales price of overseas crude oil decreased by US$7.87, or 15.0%, to US$44.62 per barrel. Meanwhile, the averagesales price of overseas natural gas decreased by US$1.98, or 28.2%, to US$5.04 per thousand cf. In addition, the average sales
price of domestic natural gas decreased by ¥10.08, or 19.0%, to ¥43.11 per ㎥. The average exchange rate of the Japanese yen
against the U.S. dollar on consolidated net sales appreciated by ¥14.24, or 11.7% , to ¥107.14 per U.S. dollar from thecorresponding period of the previous fiscal year.
The decrease of ¥185.6 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 ¥40.4 billion to the increase, a decrease in unit sales price pushing sales downof ¥151.6 billion, the appreciation of the Japanese yen against the U.S. dollar pushing sales down of ¥73.9 billion, and a decreasein net sales excluding crude oil and natural gas of ¥0.4 billion.
Cost of sales for the nine months ended December 31, 2016 decreased by ¥77.2 billion, or 19.2%, to ¥324.9 billion due mainly tothe appreciation of the Japanese yen against the U.S. dollar. Exploration expenses increased by ¥1.4 billion, or 36.2%, to ¥5.4
billion due mainly to an increase in exploration activities in Japan. Selling, general and administrative expenses decreased by ¥7.2
billion, or 11.2%, to ¥57.2 billion. As a result, operating income decreased by ¥102.5 billion, or 30.3%, to ¥235.8 billion.
Other income decreased by ¥22.8 billion, or 46.0%, to ¥26.7 billion due to decreases in gain on sales of marketable securities,
foreign exchange gain and others. Other expenses decreased by ¥27.6 billion, or 82.1%, to ¥5.9 billion due to a decrease inprovision for allowance for recoverable accounts under production sharing and others. As a result, ordinary income and income
before income taxes decreased by ¥97.7 billion, or 27.6%, to ¥256.5 billion.
Total amount of current income taxes and deferred income taxes decreased by ¥104.9 billion, or 34.6%, to ¥198.3 billion, net
income increased by ¥7.2 billion, or 14.1%, to ¥58.2 billion, and net income attributable to non-controlling interests was ¥10.3
billion. As a result of the above effects, net income attributable to owners of parent for the nine months ended December 31, 2016
decreased by ¥19.5 billion, or 28.9%, to ¥47.9 billion.
Financial results by segment are as follows:
1) JapanNet sales decreased by ¥9.1 billion, or 11.7%, to ¥68.4 billion due to a decrease in sales prices of crude oil and natural gas, despite
an increase in sales volume. Meanwhile, operating income increased by ¥1.7 billion, or 38.7%, to ¥6.3 billion due to a decrease incost of sales and others.
2) Asia & Oceania
Net sales decreased by ¥90.1 billion, or 36.2%, to ¥159.0 billion due to decreases in sales volume and sales prices of crude oil andnatural gas, and the appreciation of the Japanese yen against the U.S. dollar. Operating income decreased by ¥54.1 billion, or60.2%, to ¥35.7 billion.
3) Eurasia (Europe & NIS)
Net sales decreased by ¥4.2 billion, or 8.3%, to ¥47.2 billion due to a decrease in sales price of crude oil and the appreciation of
the Japanese yen against the U.S. dollar, despite an increase in sales volume. Operating income decreased by ¥1.9 billion, or
16.3%, to ¥10.2 billion.
4) Middle East & Africa
Net sales decreased by ¥79.2 billion, or 18.9%, to ¥341.1 billion due to a decrease in sales price of crude oil and the appreciationof the Japanese yen against the U.S. dollar, despite an increase in sales volume. Operating income decreased by ¥48.8 billion, or
19.9%, to ¥197.1 billion.
5) Americas
Net sales decreased by ¥2.7 billion, or 26.5%, to ¥7.6 billion due to a decrease in sales prices of crude oil and natural gas and theappreciation of the Japanese yen against the U.S. dollar, despite an increase in sales volume. Operating loss increased by ¥0.4
billion, or 6.3%, to ¥7.1 billion.

2(2) Explanation on Consolidated Financial Position
Total assets as of December 31, 2016 increased by ¥1.4 billion to ¥4,371.2 billion from ¥4,369.8 billion as of March 31, 2016.
Current assets increased by ¥99.3 billion to ¥1,083.6 billion due to an increase in recoverable accounts under production sharing
and others. Fixed assets decreased by ¥97.9 billion to ¥3,287.5 billion due to a decrease in investments and other assets and others.
Meanwhile, total liabilities increased by ¥21.3 billion to ¥1,212.4 billion from ¥1,191.0 billion as of March 31, 2016. Current
liabilities increased by ¥57.2 billion to ¥376.3 billion and long-term liabilities decreased by ¥35.8 billion to ¥836.0 billion.
Net assets decreased by ¥19.9 billion to ¥3,158.8 billion. Total shareholders' equity increased by ¥21.6 billion to ¥2,558.6 billion.
Total accumulated other comprehensive income decreased by ¥42.6 billion to ¥353.2 billion and non-controlling interests in net
assets increased by ¥1.0 billion to ¥246.9 billion.
Cash and cash equivalents as of December 31, 2016 totaled ¥180.8 billion reflecting a net increase of ¥127.0 billion from ¥53.8
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 increased by ¥34.3 billion to ¥185.8 billion from the corresponding period of theprevious fiscal year. This is due mainly to decreases in income taxes paid and recoverable accounts under production sharing(operating expenditures), despite a decrease in income before income taxes owing to a decrease in sales prices of crude oil andnatural gas.
2) Cash flows from investing activities
Net cash used in investing activities decreased by ¥333.9 billion to ¥91.5 billion from the corresponding period of the previous
fiscal year. This is due mainly to the lack of payments for purchases of mining rights and a decrease in long-term loans made.
3) Cash flows from financing activities
Net cash provided by financing activities decreased by ¥118.9 billion to ¥29.0 billion from the corresponding period of theprevious fiscal year. This is due mainly to decreases in proceeds from long-term debt and proceeds from non-controllinginterests for additional shares, despite proceeds from issuance of commercial papers .

3(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results
Consolidated financial forecasts for the year ending March 31, 2017 have been revised taking into consideration the consolidated
financial results for the nine months ended December 31, 2016 as well as revised crude oil price forecasts for the three months
ending March 31, 2017, among other factors.
A certain amount of loss associated with asset portfolio reviews, etc. has been factored into the consolidated financial forecasts forthe year ending March 31, 2017.
Forecasts for consolidated financial results for the year ending March 31, 2017

(Millions of yen)Previous Forecasts: A

830,000

283,000

Net income attributable toowners of parent
284,000
26,000

Revised Forecasts: B

878,000

335,000

340,000

48,000

Increase (Decrease): B A

48,00052,00056,00022,000

5.8

18.4

19.7

84.6

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)

1st Half :2nd Half:
Full Year:

US$ 47.0/bbl (Actual)
US$ 50.0/bbl
US$ 48.5/bbl (Average)

1st Half:
2nd Half:
Full Year:

US$ 47.0/bbl (Actual)
US$ 53.0/bbl *1
US$ 50.0/bbl (Average)

Exchange rate

1st Half:
2nd Half:
Full Year:¥105.3/US$ (Actual)¥105.0/US$¥105.1/US$ (Average)

1st Half:
2nd Half:
Full Year:¥105.3/US$ (Actual)¥112.2/US$ *2¥108.7/US$ (Average)*1*2

3rd quarter (Actual) : US$51.1/bbl
3rd quarter (Actual) : ¥109.5/US$

4th quarter (Forecast) : US$ 55.0/bbl
4th quarter (Forecast) : ¥115.0/US$

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. 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)(Change in useful life)
The Company reviewed the period of economic estimated use of structures (pipelines) considering the progress of initiatives on
strengthening our gas supply chain defined in the "Medium- to Long-Term Vision", actual use records and others since the
Toyama Line commences operation this fiscal year. It was confirmed that they could be used longer than their conventional useful
lives, which had been based on the method prescribed in the Corporation Tax Act, and the Company has changed their useful lives
from the three months ended June 30, 2016.
As a result, compared with the conventional method, operating income, ordinary income and income before income taxes for thenine months ended December 31, 2016 increased by ¥5,207 million, respectively.

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

As of March 31, 2016

As of December 31, 2016

(Assets)
Current assets
Cash and deposits

772,528

797,741

Accounts receivable-trade56,462

79,220Marketable securities

5,507
35,915Inventories
Recoverable accounts under production
sharing

30,99165,502

Other

132,515120,213

Less allowance for doubtful accounts(13,076)(11,168)

Less allowance for recoverable accounts under
production sharing(4,321)

Total current assets

984,345

1,083,686

Buildings and structures, net

124,900

204,307

Wells, net

51,25736,393

Machinery, equipment and vehicles, net

130,796

126,420Land

19,673

19,635

1,407,490

1,497,266

18,495

15,662

1,752,614

1,899,685

Goodwill

67,55862,488

Other473,912427,492

Total intangible assets

541,471489,981

Investment securities

213,730

183,556

Recoverable accounts under production sharing

727,771614,020

Other

291,535

216,373

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(7,814)(7,982)Less allowance for recoverable accounts under
production sharing(131,765)(105,641)

Less allowance for investments in exploration(2,046)(2,414)

1,091,410

897,9123,385,496

3,287,578

4,369,841

4,371,264

Total investments and other assets
Total fixed assets
Total assets

6

(Millions of yen)Accounts

As of March 31, 2016

As of December 31, 2016

(Liabilities)
Current liabilities
Accounts payable-trade47,351

47,121

Short-term loans

68,46844,244

Commercial papers

96,99942,845

Income taxes payable
Provision for loss on business

50,121
4,453

Provision for exploration projects

4,781

4,046

Accrued bonuses to officers

55

41

Asset retirement obligations

2,233

758

Other

153,390

128,569

Total current liabilities

319,127

376,356

673,098

666,234

Long-term liabilities
Long-term debt
Provision for loss on business

4,737

Accrued special repair and maintenance

293

326

Liability for retirement benefits

7,461

7,410

Asset retirement obligations

100,829

105,709

Other

85,49056,377

Total long-term liabilities

871,911

836,057

1,191,038

1,212,414

Common stock

290,809290,809

Capital surplus

676,273

676,273

Retained earnings

1,575,136

1,596,778

Treasury stock(5,248)(5,248)2,536,971

2,558,613

Unrealized holding gain on securities

4,958

12,120

Unrealized loss from hedging instruments(6,660)(3,792)

Translation adjustments

397,622344,949

Total accumulated other comprehensive income

395,921353,277

245,910

246,958

Total net assets

3,178,803

3,158,850

Total liabilities and net assets

4,369,841

4,371,264

Total 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 nine months ended
December 31, 2015

(Millions of yen)
For the nine months ended
December 31, 2016

Net sales

809,091

623,489

Cost of sales

402,262

324,992

Gross profit

406,828

298,497

Exploration expenses

3,999

5,447

Selling, general and administrative expenses

64,47457,240Operating income

338,354

235,808

Interest income

7,487

8,512

Dividend income

3,480

2,044

Gain on sales of marketable securities

11,488Other income

Equity in earnings of affiliates

523

Foreign exchange gain

12,252711

Other

14,875

14,967

Total other income

49,58426,759Interest expense

2,932

3,847

Equity in losses of affiliates

1,107

Provision for allowance for recoverable accounts under
production sharing

22,192Other expenses

317

305

Provision for exploration projects
Other

7,061

1,834

Total other expenses

33,5995,999

Ordinary income

354,339

256,569

Income before income taxes

354,339

256,569

Income taxes-current

293,785

220,615

Income taxes-deferred

9,523(22,289)

Total income taxes

303,309

198,325

Net income

51,03058,244

Net income (loss) attributable to non-controlling interests(16,423)

10,315

Net income attributable to owners of parent

67,45347,9298

Consolidated Statement of Comprehensive Income
Accounts

For the nine months ended
December 31, 2015

Net income(Millions of yen)
For the nine months ended
December 31, 2016

51,03058,244

Unrealized holding gain (loss) on securities(19,862)

7,144

Translation adjustments(57,761)(62,089)

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

17,418(1,992)

Total other comprehensive income(60,205)(56,938)(9,174)

1,306

Owners of parent

27,792

5,285

Non-controlling interests(36,967)(3,979)Other comprehensive income

Comprehensive income
Total comprehensive income attributable to9(3) Consolidated Statement of Cash Flows
For the nine months ended
December 31, 2015

Accounts(Millions of yen)
For the nine months ended
December 31, 2016

Cash flows from operating activities
Income before income taxes

354,339

256,569

Depreciation and amortization

58,75467,541

Amortization of goodwill

5,070

5,070

Provision for allowance for recoverable accounts
under production sharing

23,709970

Provision for exploration projects(2,360)(493)

Other provisions(174)(1,912)

Liability for retirement benefits

152

(20)

(10,750)(10,560)

Interest expense

2,275

3,705

Foreign exchange loss (gain)

3,467(1,394)Equity in losses (earnings) of affiliates

1,107

(523)

Interest and dividend income

Loss (gain) on sales of marketable securities(11,488)

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

39,856

61,268(36,754)(4,300)Accounts receivable-trade

4,669(22,876)

Inventories(5,822)

6,862

Accounts payable-trade

3,379

318

Other

32,001

1,785

Subtotal

461,434

362,010

Interest and dividends received

19,543

15,055Interest paid

(1,693)(2,348)

Income taxes paid

(327,827)(188,890)

Net cash provided by (used in) operating activities

151,455

185,827

10

For the nine months ended
December 31, 2015

Accounts(Millions of yen)
For the nine months ended
December 31, 2016

Cash flows from investing activities
Payments for time deposits(376,014)(355,238)

Proceeds from time deposits

680,979

650,928

Payments for long-term time deposits(439,989)

Payments for purchases of tangible fixed assets(371,123)(213,804)

Proceeds from sales of tangible fixed assets

1,038

3,174

Payments for purchases of intangible assets(20,171)(19,462)

Proceeds from sales and redemptions of marketable securities

115,112

Payments for purchases of investment securities(6,658)Proceeds from sales and redemptions of investment securities

27,700Investment in recoverable accounts under production sharing(capital expenditures)(54,105)(33,910)Decrease (increase) in short-term loans receivable(7,285)(2,344)Long-term loans made(218,249)(131,328)

Collection of long-term loans receivable

389,862

254

Payments for purchase of mining rights(134,383)

Other(12,206)

24,147

Net cash provided by (used in) investing activities(425,492)(91,553)(13,970)

Cash flows from financing activities
Increase (decrease) in commercial papers

96,999

Increase (decrease) in short-term loans

198

(23)

Proceeds from long-term debt

116,120

11,760

Repayments of long-term debt

(22,694)(58,323)

Proceeds from non-controlling interests for additional shares

84,751

8,967

Cash dividends paid

(26,302)(26,292)

Cash dividends paid to non-controlling interests(3,939)(3,939)

(61)

(64)

148,072

29,085(2,495)

3,717

Net increase (decrease) in cash and cash equivalents(128,459)

127,076

Cash and cash equivalents at beginning of the period

260,978

53,813

Cash and cash equivalents at end of the period

132,518

180,889

Other
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents11(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 nine months ended December 31, 2016 (April 1, 2016 through December 31, 2016):
None(Note on significant changes in shareholders' equity)
For the nine months ended December 31, 2016 (April 1, 2016 through December 31, 2016):
None

12

(Segment information)
I. For the nine months ended December 31, 2015 (April 1, 2015 through December 31, 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)

77,564249,180

51,509420,378

10,457809,091―

809,091

―

―

―

―

―

―

―

―

77,564249,180

51,509420,378

10,457809,091―

809,091

4,577

89,91012,290246,040(6,725)

346,092(7,737)338,354

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 ¥(7,737) million include elimination of inter-segment transactions of ¥152 million and corporate expenses of¥(7,890) 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 nine months ended December 31, 2016 (April 1, 2016 through December 31, 2016)
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)

68,456

159,001

47,214

341,135

7,681

623,489―

623,489

―

―

―

―

―

―

―

―

68,456

159,001

47,214

341,135

7,681

623,489―

623,489

6,347

35,798

10,291

197,141(7,149)242,429(6,620)235,808

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 ¥(6,620) million include elimination of inter-segment transactions of ¥9 million and corporate expenses of ¥(6,629)
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
3. Disclosure of changes, etc. in reportable segments(Change in useful life)
As described in (3) Changes in accounting policy, accounting estimates and restatement of corrections in 2. Notes
Regarding Summary Information (Notes) , The Company reviewed the period of economic estimated use of structures(pipelines) considering the progress of initiatives on strengthening our gas supply chain defined in the "Medium- to Long-Term
Vision", actual use records and others since the Toyama Line commences operation this fiscal year. It was confirmed that they
could be used longer than their conventional useful lives, which had been based on the method prescribed in the Corporation
Tax Act, and the Company has changed their useful lives from the three months ended June 30, 2016.
As a result, compared with the conventional method, "Japan" segment income for the nine months ended December 31, 2016
increased by ¥5,207 million.

13

(Subsequent events)
For the nine months ended December 31, 2016 (April 1, 2016 through December 31, 2016):
None

14

4. Supplementary Information(1) Production, Orders Received and Sales Performance1) Actual production
The following table shows actual production by segment:
For the nine months ended
Segment
Category
December 31, 2015
0.8 MMbbls
Crude oil
(3.0 Mbbls per day)30.2 Bcf
Natural gas(109.9 MMcf per day)
6.5 MMboe
Japan
Subtotal(23.7 Mboe per day)
IodineElectric power
generation
Crude oil
Asia & Oceania

Natural gas
Subtotal
Crude oil

Eurasia(Europe & NIS)

Middle East & Africa

Crude oil
Crude oil

AmericasNatural gas
Subtotal
Crude oil
Natural gas

Total

377.7 tons

422.9 tons

146.5 million kWh

149.4 million kWh

13.6 MMbbls(49.5 Mbbls per day)
197.2 Bcf
(717.2 MMcf per day)
50.7 MMboe(184.3 Mboe per day)
8.6 MMbbls(31.2 Mbbls per day)
8.6 MMboe(31.2 Mboe per day)
67.9 MMbbls(246.9 Mbbls per day)
2.1 MMbbls(7.5 Mbbls per day)23.1 Bcf(83.8 MMcf per day)
6.2 MMboe(22.4 Mboe per day)
93.0 MMbbls(338.2 Mbbls per day)
250.5 Bcf
(910.9 MMcf per day)
139.8 MMboe(508.5 Mboe per day)10.2 MMbbls(37.1 Mbbls per day)
184.7 Bcf
(671.5 MMcf per day)
44.9 MMboe(163.4 Mboe per day)
8.3 MMbbls(30.0 Mbbls per day)
0.6 Bcf(2.0 MMcf per day)
8.4 MMboe(30.4 Mboe per day)
74.3 MMbbls(270.1 Mbbls per day)
2.1 MMbbls(7.6 Mbbls per day)
32.1 Bcf(116.9 MMcf per day)
7.9 MMboe(28.6 Mboe per day)95.7 MMbbls(348.0 Mbbls per day)
250.4 Bcf
(910.6 MMcf per day)
142.5 MMboe(518.3 Mboe per day)

377.7 tons

422.9 tons

146.5 million kWh

149.4 million kWhNatural gas
Subtotal

Subtotal
IodineElectric power
generation

For the nine months ended
December 31, 2016
0.9 MMbbls(3.2 Mbbls per day)
33.0 Bcf(120.2 MMcf per day)
7.1 MMboe(25.8 Mboe per day)

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 nine months ended December 31 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 109.8 MMbbls (399.4 Mbbls per day) of crude oil,325.4 Bcf (1,183.4 MMcf per day) of natural gas, and in total 170.8 MMboe (621.0 Mboe per day) for the nine months ended December 31, 2015, and114.0 MMbbls (414.6 Mbbls per day) of crude oil, 313.6 Bcf (1,140.5 MMcf per day) of natural gas, and in total 172.8 MMboe (628.3 Mboe per day)for the nine months ended December 31, 2016.
5. Boe means barrels of oil equivalent.
6. Iodine is refined by other company on consignment.
7. Figures are rounded to one decimal place.

15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

501 Mbbls

3,385

598 Mbbls

3,160

Natural gas(excluding LPG)

44,989 MMcf

64,117

48,249 MMcf

55,7375 Mbbls

31

4 Mbbls

20

LPG
Other

10,0309,537

Subtotal

77,56468,456

Crude oil

10,489 Mbbls

69,3639,779 Mbbls

46,901Natural gas(excluding LPG)

179,616 MMcf

170,722

172,518 MMcf

106,541

LPG

1,952 Mbbls

9,094

1,621 Mbbls

5,558

Subtotal
Crude oil
Eurasia(Europe & NIS)

249,180
7,917 Mbbls

Americas159,001
9,258 Mbbls

47,147511 MMcf

66

51,50947,214Crude oil

66,248 Mbbls

420,378

71,489 Mbbls

341,135

Crude oil

1,267 Mbbls

7,000

1,619 Mbbls

6,023

Natural gas(excluding LPG)

25,505 MMcf

3,457

28,619 MMcf

1,657

10,457

Subtotal

Total

51,509Natural gas(excluding LPG)
Subtotal

Middle East & Africa(Millions of yen)
For the nine months ended
December 31, 2016
Sales volume
Net sales

For the nine months ended
December 31, 2015
Sales volume
Net sales

7,681

Crude oil

86,423 Mbbls

551,637

92,741 Mbbls

444,369

Natural gas(excluding LPG)

250,110 MMcf

238,297249,896 MMcf

164,003

LPG

1,957 Mbbls

9,125

1,625 Mbbls

5,579

Other

10,030

9,537

Total

809,091

623,489

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 ninemonths ended September 30 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.

16