ENVIRONMENT,
SOCIETY AND GOVERNANCE

6

5
Project Overview

INPEX CORPORATION Annual Report 2013073

Environment, Society and GovernanceCorporate Social Responsibility ­ to Remain Essential for Society
INPEX aspires to be essential for society by contributing to economic growth and social
advancement through its business operations, and be given even higher ratings from thesociety. The section on the environment, society and governance in Annual Report 2013 describes mainly the substance of our CSR activities and our approaches to enhance corporate
governance in the year ended March 31, 2013.

Environment, Society and Governance Summary– actual data for FY2012

Environment pp. 76–78`

Highlights in FY 2012 in the Environmental Aspect
Share of total waste occupied by
the subtotal recycled(both inside and outside Japan)

Breakdown of GHG emissions by type
Unit: (CO2 : tons, CH4 & N2O: tons-CO2)

85.2%

Type

2011

2012

2013

Emissions into water areas

CO2

346,357

355,601

501,536

1,655,758 ㎥

CH413,428

8,161

10,516

Volume of water sources used

N2O

21

114

894

Receipt of Third-Party EnvironmentRelated Veriﬁcation
Receipt of veriﬁcation
by Bureau Veritas Japan
Co., Ltd., in connection
with disclosure of data
for environmental performance

1,749,451 ㎥

Society pp. 79–81`

Highlights in FY2012 in the Social Aspect (ﬁgures in parentheses indicate percentages of respective totals)
Expenditures on activities
Awarded Kurumin Markfor social contribution ........ ¥1.81 billion■ Year-end number of challenged employees

Year-end rate of challenged employees

Number of women in
management positions ...... 20 (2.8%)(Persons)

(%)

40
30

Number of foreign nationals inmanagement positions ...... 108 (15.4%)
Number of employees
who quit ................................. 17 (1.3%)

Trend of employment of the challenged29

20(a certiﬁcation provided by the Ministry of Health,
Labor and Welfare in recognition of company
efforts to support child rearing by employees)

32

35

3.0

1.90

2.00

2011

2012

2.13

2.0
1.0

10
0

4.0

2013

0

Corporate Governance pp. 82–89`

Highlights in FY2012 in the Social Aspect
Holding of meetings ofthe INPEX Advisory Committee

Proﬁle of the Corporate Governance
SystemOctober 1, 2012
Announcement of institution of the INPEX
Advisory Committee■ Organizational structurecompany with statutory auditors■ Number of directors
16 (including 5 outside directors) / term of 1 year
■ Number of statutory auditors
5 (including 4 outside auditors) / term of 4 years■ Number of independent
directors and auditors
9 (consisting of 5 outside directors and 4 outside auditors)

December 18, 2012
The ﬁrst meeting of the INPEX Advisory Committee
June 6, 2013
The second meeting of the INPEX Advisory
Committee

074

INPEX CORPORATION Annual Report 2013

Abolishment of the Bonus
Compensation Component for
Outside Directors and Auditors
In an effort to further bolster corporate
governance, INPEX has consolidated
outside director and outside statutory
auditor compensation into a single ﬁxed
amount while abolishing the bonus component effective from the year ending
March 31, 2014.

Sustainability Report 2013

Five Key CSR Subjects
On our current CSR agenda, we are emphasizing approaches to ﬁve key issues which have a signiﬁcant impact on both INPEX and our stakeholders, and which require reinforcement of activities
for the time being.

Compliance

HSE initiatives

Comply with laws and social
norms (including consideration
for human rights)

Practice safety and environmental protection in operations

Greenhouse gas
countermeasures
Address climate change

Community contribution

Employee development

Build trust with and contribute to local
communities (including education)

Develop and utilize human resources asa global company

For more detailed information on activities inthese areas, please see Sustainability Report 2013
and our CSR Web site.
` inpex.co.jp/english/csr

Ichthys Project Approaches ` p. 78

UOperation reﬂecting
concern for climatechangeDredging vessel

In consideration of the impact on dolphinsetc., we are performing dredging work in the
Port of Darwin without underwater blasting.

Suppliers

UDevelopment andsupply of diverse
energy for
response to climatechangeBusiness
partners

Shareholders
Activities on Community Contribution ` p. 80

Investors

Customers

UFull communication
with stakeholders inoperation area
URespect for culture
and conventions inoperation area

Tuition assistance at an orphanage inthe Democratic Republic of the CongoOf the total expenditure of about ¥1.8 billion
on activities for community contribution in ﬁscal 2012, about 70% was spent on support for
education.

UContribution tosocial advancementin operation area

Local
communities

6

NGOs &
NPOs
Oil / gasproducing
countries
UResponsible
management as a
global company

IR presentation for
individual investors(September 2012 in Osaka)

In FY2012, we held a total of nine IR presentations for individual investors.

Environment,
Society and Governance

Enhancing IR Activities ` p. 89

Employees

Buildinga sustainable
society &continuously
creating
corporate
value

UObservance of therequirements ofcomplianceUEnhancing IR
activities

INPEX CORPORATION Annual Report 2013075

Environment & Society

HSE Management
Outline of the HSE Management
System and Its Operational Structure
INPEX has prepared an HSE Management
System encompassing approaches tohealth, safety, and environment with consideration of the standards under ISO 9000
and ISO 14001 as well as management systems for labor safety and health, and theguidelines of the International Associationof Oil & Gas Producers (OGP). It is likewise
promoting the improvement and reﬁnement of this system on an ongoing basis.
The system consists of the HSE Policy, theHSE Management System Manual, Corporate HSE procedures and guidelines,
an organizational structure comprising
the HSE Committees, and the HSE objectives and programs devised each ﬁscal
year. As for methodology, the A-PDCA
cycle* beginning with risk assessment isperformed to assure execution of the HSE
Management System.
* Access-Plan-Do-Check-Act: In this case, “Access”
refers to risk management and determinationof legal and other requirements; “Plan”, tothe preparation of HSE plans and emergency
response plans; “Do” and “Check”, to the collection and analysis of HSE-related data and HSE
audits; and “Act”, to management reviews.

HSE Auditing and Management Review
For ongoing improvement of HSE performance, we implement HSE audits on
the Corporate*2 and Operational Organizations. These audits cover the HSE
Management System, its operation,
and all related HSE activities. They set
priorities that are the subject of work for
improvement at each site.
In ﬁscal 2012, HSE audits were carried out at locations including the Copa
Macoya block.
*2 Corporate: the framework (organizational andfunctional) encompassing the whole company
in the HSE Management System

Initiatives for Promoting and Implementing the HSE Management System
Chief Executive of HSE
Toshiaki Kitamura (President & CEO)Corporate HSE Committee
HSE Management Director (Director in charge of HSE)
Masatoshi Sugioka (Vice Chairman)
Operational
Organization

Operational
Organization

Operational
Organization

Operational
Organization

Operational Organization
Representative

Operational Organization
Representative

Operational Organization
Representative

Operational Organization
Representative

HSE Committee

HSE Committee

HSE Committee

HSE Committee

Priorities of HSE Audits
UStructure of
the HSE Management System
UDegree of adequacy of
the A-PDCA cycle
UEfﬁcacy of HSE objectives
UState of improvement on items
indicated in the last audit
UManagement of contractors
UAssessment of efﬁcacy of responseto emergencies

HSE Communication
We are striving to enhance in-housecommunication to improve HSE awareness. In ﬁscal 2008, we began holding
HSE Annual Meeting composed of representatives from Operational Organizations in Japan and other countries. We
also hold HSE Managers Meeting, which
is for the personnel assigned to HSE ineach Operational Organization.
To bolster communication with HSE
units and overseas business divisions, weregularly hold HSE Liaison Meetings fora sharing of information on the details of
HSE Management Systems and activities.

An HSE audit at the Copa Macoya project

An HSE Annual Meeting

Message from the Director in Charge of HSE

Masatoshi Sugioka,
Vice Chairman, in charge of HSE

076

INPEX CORPORATION Annual Report 2013

INPEX formulated HSE Policy in 2006 and the HSE Management System Manualin 2007. On this basis, it has prepared manuals and guidelines related to labor
safety and health, and environmental preservation. These approaches to HSE
over the past few years are behind the deepening in-house penetration of theHSE culture and trend of improvement in actual data for HSE activities, but there
remain shortcomings as compared to the HSE activities of other companies in
our industry around the world. To raise our HSE level even higher, we intend to
take vigorous action in areas indicated in the second HSE medium-term plan forthree years from April 2013, such as HSE audits, HSE risk management, process
safety management, and prevention of major accidents.

Breeding of an HSE Culture and
HSE Education
To foster the growth of an HSE culture,
we conducted a survey aimed at determining its degree of maturation in ﬁscal
2011. Based on the ﬁndings, we posted
a higher level of HSE capacity companywide and reinforcement of HSE communication as HSE objectives in ﬁscal 2012,and launched activities to attain them.
To help the HSE culture reach maturity and to impart HSE-related knowledge
and capabilities, we hold annual programsof HSE education in correspondence withlevels of HSE skills and training rules. In
ﬁscal 2012, we likewise staged HSE seminars for younger engineers.

HSE Awards
To enhance HSE awareness and better the HSE record throughout the Company, we present HSE awards for outstanding HSE activities. In ﬁscal 2012,
we handed out HSE awards to four project teams including contractors. Oneof them was given an award for completing a drilling campaign that lasted
more than 240 days in the Suriname Project in South America with zero losttime injuries (LTI).

Onsite in the Suriname Project

An HSE program

Approaches to Prevent Major Accidents
Campaign to Spread Knowledge of
the Seven INPEX Safety Rules

Frequency of accident occurrence

6
Environment,
Society and Governance

For increased attention tosafety, we conducted a campaign to publicize the seven
INPEX safety rules in step withJapanʼs National Mine Safety
Week in July 2013. In thiscampaign, we held meetings
to describe the seven rules toour employees and representatives of contractors, put up
posters with pictorial symbols
to prompt awareness of safety,
and distributed related novelty
goods.

Toward Reduction of Accidents
All of our operational entities are promoting HSE campaigns aimed at “Zero
Accidents” and safety activities to reduce
the number of accident occurrences.
On the corporate level, every year,
we post target indicators for occurrenceof accidents and engage in activities toreduce occurrences. In ﬁscal 2012, we
set a target value for LTIF (rate of injuries resulting in fatalities or lost time
per million hours worked) of 0.77, anda TRIR (rate of recordable injuries (fatalities, lost time, restricted workdays andmedical treatment) per million hours
worked) of 4.05.

（LTIF、
TRIR）
LTIF(Incidents)

TRIR

6

5.26
3.86

4.05

4

2

0.96

1.20

0
2009

2010

1.86
1.16
0.64

0.72

0.77

2011

2012

2013

INPEX CORPORATION Annual Report 2013077

Environment & Society

Environmental Action

Measures for Prevention of
Global Warming
Methane, the main constituent of naturalgas, is a type of greenhouse gas (GHG);
its greenhouse effect is 21 times as great
as that of CO2. In the oil and natural
gas business, there are some cases inwhich there is no choice but to temporarily release methane into the atmosphere. INPEX makes efforts to curtailthe amount of methane emissions, and issteadily installing grand ﬂare*1 systems
at all sites to hold down emission levels
when releases are unavoidable.

*1 Grand ﬂare: Equipment that incinerates excesshydrocarbon gas produced by crude oil drilling facilities, gas processing facilities and oil
reﬁneries instead of simply dissipating thegas as is. Shaped to combust ﬂames within an
upper chimney-like furnace, thereby resulting
in no night-time illumination, noise pollution oreffects on the surrounding environment.

40

4.1

21.0

6.2

7.8

2.4

2.2

21.2

8.5

9.3

8.4
1.7

2.2

1.5

16.3

16.3

17.0

10.4

20.1

10

12.0

11.2

10.8

9.1

9.3

2008

2009

2010

2011

2012

0

2013

GHG emissions per unit ofproduction (Japan)■CO2 removal ■Power generation■Natural gas emissions ■Energy use（kg-CO2/GJ）
6

2 Release of CO2 separated and5removed from natural gas

0.809

4

natural gas
4 CO2 derived from use of energy inpower generation businesses

3

1.313

1.453

1.267

0.280
2.555

0.335
2.515

0.227
2.533

0.251
2.561

1.387

1.376

1.410

1.454

1.565

2009

2010

2011

2012

2013

0.761

0.985

2.664

0.302
2.603

1.526

2008

0.525

3 CO2 derived from diffusion of2

A grand ﬂare system at the facility for collectionof newly extracted oil at the Akita District Ofﬁce

Volume of water resources used（m3）

■Sea/river water ■Tap water ■Groundwater

1
0

Emissions into water areas（m3）

2,000,000

2,000,000■Emissions into public water areas■Injection return to groundwater

1,749,451
1,396,478
50,1311,500,000

1,000,000

500,000

1,248,152
169,258

170,795

1,175,552

426,6111,500,000

333,162

1,000,000

1,539,263

1,572,414

642,815552,869

1,655,758
560,102989,679
500,000

1,078,896

896,448

1,019,545 1,095,656

0

0
2011

2012

2011

2013

2012

2013

Protection of Biodiversity in a Project

Monitoring coral reefs in the Port of Darwin

INPEX CORPORATION Annual Report 2013

6.4

20

gas businesses

Reduction of Water Use andApproaches to Prevent Water Pollution
All our Operational Organizations observe
the environmental laws and regulations in
the host country in managing wastewater.
The crude oil and natural gas which we
produce sometimes contain groundwater. We separate and collect this waterat the production facilities. We treat thewater to remove any residual oil, etc.
In our production facilities in Japan,
we handle wastewater in conformancewith the related standards. For example,
in disposing well water, we release it
into rivers only after reducing concentrations of boron, nitrogen compounds, orother substances to levels that meet thewastewater standards in relevant regulations, by putting it through shaft wastewater treatment facilities. At offshore rig
platforms and during the construction of
LNG receiving terminals, seawater used
for cooling is released back into the sea.
In these releases, we make advance conﬁrmations of temperature differences
between the used water and the sea
as well as of water quality, to curb any
impact on the ecosystem in the sea to aminimum.

■CO2 removal■Power generation■Natural gas emissions■Energy use

50

30

Major Sources of GHG Emissions
1 Use of energy in oil and natural

078

Total GHG emissions (Japan)（10 Thousand t-CO2）

In dredging works in the Port of Darwin,
Australia, we perform most of the work
during the rainy season, when the waterof the Port is turbid, in order to curtailany impact on the surrounding environment to a minimum. We are also taking
measurements of the inﬂuence of deposits from the dredging works through anenvironmental monitoring program. In
these ways, we are striving to protect
the ecosystem in the Port of Darwin andperipheral areas.

Human Rights, Human Resources and Diversity
Respect for Human Rights
In the pursuit of its business in oil and natural gas development
around the world, INPEX follows all sorts of international standards regarding human rights and the social standards in theregions of operation. More speciﬁcally, we observe international
standards including the Universal Declaration of Human Rights(UDHR) and the International Labor Standards of the International Labor Organization (ILO) as well as the 10 principles of
the United Nations Global Compact based on the UDHR.
In our operator projects, we work to identify the risks byassessing impact in the environmental and social aspects,
including the human rights dimension, that the project activities

could possibly have on the region of operation, and emphasize
dialogue with local governments, residents, and other stakeholders.

Dialogue with local residents (Indonesia)

Concern for Indigenous People in Projects
In the Northern Territory of Australia, where the Ichthys LNG
Project is moving ahead, Indigenous (aboriginal) people makeup about 40% of the Territory population. We are running the
project while taking full consideration for the indigenous people.
INPEX signed a memorandum with representatives of theLarrakia people, who are the historical owners of land and water
areas in the Darwin vicinity, and have built relations with themgrounded in cooperation and mutual respect. In May 2013,
we released the Reconciliation Action Plan (RAP), a new plan
revolving around the three priority themes of relations, respect,and opportunity. We have therefore presented our commitment
to the local community and our activity plans in the form of apublic document.

Reconciliation Action Plan (RAP) – Cooperation Activities with Indigenous People
The circles in the middle of the cover design stand for resource development
and the energy supplied from it.

Development and Use of Human Resources
In ﬁscal 2012, we formulated the INPEX HR VISION in our desire to promote various personnel initiatives from a global perspective and build organizations that will
be internationally competitive. In accordance with the Vision, we are providing training based on personnel models, roles, and capabilities required in each type of job(clerical, technical, etc.) in the context of programs for human resource development.
Furthermore, to help them function in global projects, we dispatch personnel to othercountries, to take part in foreign language classes, training at overseas ofﬁces, andprograms at specialized training institutes.

6

Promotion of Diversity

Environment,
Society and Governance

Scene at an in-house training

Awarded Kurumin MarkIn August 2012, INPEX was awarded the Kurumin Mark, a certiﬁcation provided by the
Ministry of Health, Labor and Welfare indicating satisfaction of the standards based on
the Law for Measures to Support the Development of the Next Generation. We were
given the award in recognition of our achievements in preparing and implementing
our general employer action plan (which sets forth approaches to assist employees inraising children and still keep their jobs), and attaining the targets contained therein.

INPEX CORPORATION Annual Report 2013079

Environment & Society

Activities of Community Contribution

In all the countries and regions in which it does business, INPEX engages in communication with governments, local residents, NGOs, and other parties, in order to comprehend their wants and needs, and to takerequisite action in response. We endeavor to develop business in ways that assist social advancement in theregions of operation while respecting the culture and conventions there.

CSR expenditures by issue

Azerbaijan, Georgia, and Turkey(for the year ended March 31, 2013)
Culture and the arts

2.3％
Environment

1.3％
Support fordisasteraffected areas

0.3％
Health, medicine
and sports

9.7％

Project for Support of Agriculture in
Local Communities
In the Azeri–Chirag–Guneshli (ACG)
and Baku-Tbilisi-Ceyhan pipeline project, supporting programs are ongoingin order to support agriculture in Azerbaijan. We have spent a total of about
US$1 million for provision of greenhouses, bees, beehives, and related
equipment, and are also offering education and training programs to farmers.

Other 0.2％

Supportfor local
communities

15.8％
Total

¥1.81
billion
Educating andfostering future
generations

A beekeeper receiving support

70.3％

Congo

Abu Dhabi, UAE

Contribution in Muanda
In the city of Muanda in the Democratic Republic of the Congo, INPEX is engaged in activities
for contribution tocommunity development in the ﬁeldsof health and medical care, education,and infrastructural
conditioning.

Abu Dhabi International Hunting and Equestrian Exhibition
Every year since 2004, INPEX has
set up a booth in the Abu Dhabi
International Hunting and Equestrian Exhibition (ADIHEX). The
booth introduces Japanʼs medieval
falconry culture and other elementsof traditional culture such as samurai swords and the tea ceremony.
People at the INPEX booth

An orphanage in Muanda

080

AngolaMalaysia

Indonesia

Contribution in Cabinda Province
In the Angola province of Cabinda, weare promoting activities for contribution
to the local community. These activities
include the outlay of funds for construction of medical centers and related facilities, and their outﬁtting with medical
apparatus, pharmaceuticals, furniture,and other items.

Acceptance of Technical Trainees
In the context of an offshore projectin Sabah, Malaysia, INPEX is providing opportunities for technical training
through acceptance of young oil technicians in a program of on-the-job training(OJT) held at our Kuala Lumpur Ofﬁce.

Support for Improvement of
the Educational Environment
In connection with the Mahakam Block,
INPEX is conducting a program to support education in the province of East
Kalimantan. In 2012, we set about improving the environment of education bybuilding new and remodeling old school
facilities, with a view to raising the level of
education for students.

A local facility

A geological technician receiving OJT

A local school building

INPEX CORPORATION Annual Report 2013

East Timor

Niigata Prefecture

Tokyo (Head Ofﬁce)

Construction of Greenhouses for
Cultivation of Vegetables andSupport for Agricultural Training
INPEX contributed to construct large
greenhouses for crop farming in the suburbs of Dili, the capital city of East Timor.
We have provided technical support totrain local farmers in hydroponic growing
methods. We hope this initiative will provide local farmers with a stable income
and improve agricultural productivity.

Naoetsu LNG Terminal： Event for
Painting on the Inside of an LNG Tank
In May 2012, shortly before the closureof the mouth of an LNG tank, INPEX
staged an event in which it invited a
total of 66 students and 11 teachers
from two nearby elementary schools topaint pictures on the inside of the tank.

Donation of “Secrets of Natural Gas
Development,” a Popular Educational
Materials Series
INPEX assisted the composition, production of illustrations, and overall editing work in preparation of “Secrets of
Natural Gas Development” in the “Better
Understanding through Comic Books,”*
a popular educational series publishedby Gakken Publishing Co., Ltd. This title
was donated to some 23,500 elementary
schools and 3,000 libraries nationwide.
* Both tentative translations of titles available only in Japanese.

Painting on the inside of an LNG tank
Inside a greenhouse for vegetable cultivation

The cover of “Secrets of Natural Gas Development” in the “Better Understanding throughComic Books” series

Australia

Australia

Planting mangrove trees
In the Mahakam Block, a program forplanting one million mangrove trees waslaunched in cooperation with residents in
the Mahakam river delta area. In 2012,
we assisted the planting of about 1.6 million mangrove seedlings.

Support for establishment ofa research center
INPEX provided a sum of A$3 million forestablishment of the North Australian
Centre for Oil and Gas in Charles Darwin
University. The Centre opened its doors in2012 and is offering students programs ofeducation and training related to oil andnatural gas.

Support for a Program of
Scientiﬁc Learning
In connection with the Ichthys LNG
Project, we are providing students ofthree schools in the Northern Territory
with opportunities to participate in the
Science and Technology Education
Leveraging Relevance (STELR) project,which is aimed at reinforcing education in science and mathematics.

Planting mangrove trees

Scene at the ceremony of donation

A class in the program for scientiﬁc learning

INPEX CORPORATION Annual Report 2013

6
Environment,
Society and GovernanceIndonesia081

GovernanceCorporate Governance
INPEX works diligently to continuously strengthen its corporate governance activities
as a part of efforts to engage in responsible management as a global company.
(The information presented in this section was current as of June 26, 2013, unless otherwise stated.)

Overview of the Corporate Governance Structurre andChanges Implemented to Strengthen that Structure
Overview of
the Corporate Governance Structure

Changes Implemented to Strengthen the Corporate Governance Structure
Strengthened
the supervisory andaudit functions■ Organizational structure ...............................................
.................................Company with statutory auditors

Number of directors as stipulated by
the Articles of Incorporation ......................... up to 16
Number of directors(number of outside directors) ............................. 16（5）Term..............................................................................1 year
■ Statutory auditors
Number of statutory auditors as stipulated by
the Articles of Incorporation ..................... up to 5
Number of statutory auditors(number of outside auditors) ........................ 5（4）Term.......................................................... 4 years■ Number of independent
directors and auditors...................................... 9(5 outside directors, 4 outside auditors)■ Rights plan and other measures to protect
against a takeover..................................... None
■ Other .......................Issuance of Class A Stock to
the Minister of Economy, Trade and Industry

2006

Established the Compliance
Committee

2007

Established the Information
Security Committee

2008

Implemented the Executive
Ofﬁcer System

2009

Strengthened the Support to thestatutory auditors (two members,
one of which is a management
position, are assigned toconcurrently serve as ancillary staff)
Shortened the directorsʼ andexecutive ofﬁcersʼ terms of ofﬁce(from two years to one year)

2012

~

■ Directors

Undertook steps toaddress management
issues2013

Addressed
issues relating tocompensation

Established the Corporate
HSE Committee

Established the CSR Committee
Established the Medium- to
Long-Term Vision of INPEX

Established guidelines for thepurchase of shares of INPEX
Consolidated outside director
and statutory auditor
compensation into a single fixedamount while abolishing thebonus component

Appointed an additional outside
director (from four directors to five
directors)
Registered nine outside directors /statutory auditors as independent
as stipulated by the Tokyo Stock
Exchange
Established the Advisory Committee

Establishment of the Advisory Committee
The Advisory Committee comprising eminent persons both from Japanand overseas was established on October 1, 2012 to enhance the Companyʼs value and further bolster corporate governance. The role of theAdvisory Committee is to provide objective recommendations and advice
that incorporate a wide range of opinions and perspectives on importantmatters relating to the Companyʼs business and management including
political and economic conditions in Japan and overseas, circumstances
surrounding energy, and CSR. The Advisory Committee is generally scheduled to meet twice each year. The ﬁrst meeting was held in December
2012 and the second meeting in June 2013.
Issues discussed during the ﬁrst meeting of the Advisory Committee
on December 18, 2012
U Operating conditions in the United States (energy policies in the United States andthe impact of the shale gas revolution in the United States on international politics andeconomic conditions)Issues discussed during the second meeting of the Advisory Committee
on June 6, 2013
U The impact of ongoing shale gas and oil development in the United States onsuch issues as the structure of energy supply and demand as well as prices
U The impact on international conditions attributable to such factors as changes inenergy supply and demand in the United States
U Changes in global country risks owing to such factors as forecasts of conditions in
the Middle East
U The promotion of CSR management as a global company

082

INPEX CORPORATION Annual Report 2013

Advisory Committee members in attendance (front row from the left)
Dr. Masayuki Yamauchi

Dr. Tsutomu Toichi

Ms. Kaori Kuroda

Dr. Kent Eyring CalderProfessor Emeritus,
The University of Tokyo

Advisor,
The Institute ofEnergy Economics,
Japan

Executive Director,
CSO Network
Foundation

Director, the Edwin O.
Reischauer Center for East
Asian Studies; Professor,
Johns Hopkins University

Participants from INPEX (back row from the left)
Seiji YuiToshiaki Kitamura

Naoki Kuroda

Masatoshi Sugioka

Director,
Senior Managing
Executive Ofﬁcer

President & CEO

ChairmanVice Chairman

The Companyʼs Management Structure[1] Directors and the Board of Directors
Directors with a wide range of knowledge appointed from within
the Company, deliberate on and determine important mattersrelating to the conduct of business in conjunction with outside
directors. In this manner, INPEX ensures that decisions are madein a rational, effective, and objective manner.
The Companyʼs Board of Directors comprises 16 members,
ﬁve of whom are outside directors. In addition to a monthly meeting, the Board of Directors meets as necessary in order to discussand determine the execution of important matters. The Board
also supervises the execution of duties by directors. In addition,
the term of ofﬁce for directors has been set at one year to enablea faster response to changes in the Companyʼs operating environment and to further clarify management responsibilities.

[2] Executive Committee and Executive Ofﬁcer System
From the perspective of increasing the speed of decision making related to the execution of business, we have established an
Executive Committee with attendance by full-time directors andmanaging executive ofﬁcers. The meetings are held weekly andas necessary. At the Executive Committee, ﬂexible decision making is conducted for resolutions not afﬁliated with the Board of
Directors, and deliberation is held to contribute to decision making by the Board of Directors.
We implemented an Executive Ofﬁcer System in order to
respond accurately and quickly to a rapidly changing management environment and the expansion of our business activities.
The term of ofﬁce for executive ofﬁcers is set to one year, thesame as for directors.

In the business of developing oil and natural gas, a considerable amount of time is required between the launch of a businessventure and any investment recovery. Accordingly, INPEX does
not consider it appropriate to reﬂect short-term performance indirectorsʼ compensation. Compensation for directors consistsof monthly compensation (basic compensation), which is paid
based on the duties of each director, and a bonus based on the
Companyʼs performance. Compensation is determined by the
Board of Directors. Similarly, compensation paid to statutory
auditors consists of monthly compensation (basic compensation)
and a bonus, which is determined through consultation between
statutory auditors.
The table at the bottom left of the page shows the amountof compensation paid to directors and statutory auditors forthe year ended March 31, 2013. From the current period, thebonus component paid to outside directors and statutory auditors has been abolished. Outside directors and statutory auditors are now paid a consolidated ﬁxed compensation amountonly. This takes into account efforts to further bolster corporate
governance.

[4] Accounting Audit and Auditor Compensation
In accordance with the Companies Act and the Financial Instruments and Exchange Act, we accept accounting audits from
Ernst & Young ShinNihon LLC. The amount of compensation
paid to the CPAs is determined in total based on the audit planand the number of auditing dates, after obtaining approval fromthe Board of Auditors.

[3] Director Compensation
Compensation Paid to Directors and Auditors (Year ended March 31, 2013)
Total amount ofcompensation
paid(¥ million)

Director classiﬁcation

Total amount ofcompensation paid bytype of compensation(¥ million)
Basic
Bonus
compensation

Compensation Paid to the CPAs and Related Parties (Year ended March 31, 2013)

Number of
directors
eligiblefor basiccompensation(person)Directors(excluding outside directors)
Statutory Auditors(excluding outside auditors)

500

403

97

12

27

25

2

1

Outside Directors

79

69

10

10

Name of the CPA ﬁrm

Ernst & Young ShinNihon LLC

Names of the CPAs

Kazuhiko Umemura, Satoshi Takahashi

Accounting audit members

19 CPAs and 29 others

Compensation for auditing
services¥199 million (INPEX: ¥134 million;
Consolidated subsidiaries: ¥65 million)

Compensation for non-auditing services¥35 million (INPEX: ¥23 million;
Consolidated subsidiaries: ¥12 million)

Corporate Governance Framework
General Meeting of Shareholders
Appoint/Dismiss

Appoint/Dismiss

Board of Auditors

Coordinate

Independent Auditors
Coordinate

5 Statutory Auditors including
4 Outside Statutory Auditors

Accounting audit

Audit

Appoint/Dismiss

Board of Directors

Audit

16 Directors including 5 Outside Directors
Appoint/Supervise/Dismiss

Accounting audit

Advisory Committee

Executive Committee

CSR Committee

President & CEO

Compliance Committee

ReportAudit Unit

Internal audit

6
Environment,
Society and GovernanceNotes: 1. The Company does not maintain a stock option plan.
2. The Company does not maintain an accrued retirement beneﬁts plan.
3. The total amount of compensation paid includes a provision to accrued bonuses to directors for the year ended March 31, 2013.
4. The number of directors eligible for compensation includes two directors (including one outside director) who retired due to the expiration of their terms effective fromthe Board of Directorsʼ meeting held on June 26, 2012 following the close of the Companyʼs 6th ordinary General Meeting of Shareholders.
5. In addition to the amounts of compensation paid presented in the table, an amount totaling ¥2 million was paid by a subsidiary company as director compensation toan outside director of the Company for the year ended March 31, 2013.

Directors and Executive Officers
Executive Officers 925Concurrent
Executive Officers (Total 34)
Divisions and Subsidiaries

Corporate HSE Committee
Information Security
Committee

INPEX CORPORATION Annual Report 2013083

GovernanceOutside Directors: Independence and Reason for Appointment[1] Outside Directors
Regarding the appointment of outside directors, we place
importance on evaluation for the validity of business decisions
and consideration of their efﬁcacy, professionalism and objectiveness in the oversight function in addition to the perspectiveof independence.
Our companyʼs ﬁve outside directors possess broad knowledge and many years of experience as managers and in ﬁelds
such as the resource / energy industry, ﬁnance and legal matters.
Also, four of the outside directors are shareholders of our company and serve as directors and an advisor of companies that
conduct business in the same ﬁeld as us. Therefore, we recognize the importance of paying special attention to the possibilityof competition and other conﬂicts of interest. In response, wecollect written pledges from outside directors in order to ensure
conformance with the Companies Act when taking a proper
response toward noncompetition, the prevention of information
leakage and the implementation of appropriate measures toward
transactions with a conﬂict of interest. These written pledges are
the same as those submitted by internal appointees.

[2] Outside Auditors
When appointing outside auditors, we believe that it is important to comprehensively consider factors such as independence,
efﬁcacy in the oversight function and professionalism.
Four of the ﬁve auditors are outside auditors who possessrich knowledge and experience in our companyʼs business, aswell as in ﬁelds such as ﬁnance and accounting and utilize thesequalities when performing auditing activities for our company.
One of those auditors also holds the position of director at
Japan Petroleum Exploration Co., Ltd. (JAPEX), a company thatengages in the same type of business as the Company.

[3] Independence of Outside Directors
All of our companyʼs outside directors (5) and outside auditors(4) satisfy the requirements* for independent directors and are
therefore designated as independent directors.
*It has been conﬁrmed that the outside directors / auditors do not fall under
the conditions stipulated in the Ordinance for Enforcement of the Securities
Listings Regulations, Article 211, Item 4, Sub-Item 5, and Article 226, Item
4, Sub-Item 5. Furthermore, it has been conﬁrmed that there is no risk of aconﬂict of interest with ordinary shareholders.

[4] Board of Auditors and Statutory Auditors
INPEX has adopted a statutory auditor system. The Board ofAuditors is composed of ﬁve members, including four outside
auditors. In addition to attending meetings of the Board of Directors and the Executive Committee, the statutory auditors review
the execution of business duties by directors through reports
given by and hearings for related departments. Furthermore, thestatutory auditors meet on a regular and as needed basis with the
Independent Auditors, and receive reports from the Independent

OutsideDirectors

Kazuo Wakasugi

Yoshiyuki Kagawa

Seiji Kato

Rentaro Tonoike

Yasuhiko Okada

Director (Outside)

Director (Outside)

Director (Outside)

Director (Outside)

Director (Outside)

Kazuo Wakasugi
April 1953

Joined Ministry of International Trade and Industry(currently Ministry of Economy, Trade and Industry)
June 1984
Vice-Minister for International Affairs, Ministry ofInternational Trade and Industry
September 1986 Advisor to Long-Term Credit Bank of Japan, Ltd.
(currently Shinsei Bank, Ltd.)
June 1993
Representative Director, Executive Vice President of
Mitsubishi Electric Corporation
May 1995
Advisor to Japan Petroleum Exploration Co., Ltd.
(“JAPEX”)
June 1995
Representative Director, President of JAPEX
June 1996
Director of Indonesia Petroleum, Ltd.
(INPEX Corporation)
June 2001
Representative Director, Chairman of JAPEX
April 2006
Director of INPEX Holdings Inc. (currently the Company)(incumbent)
May 2007Counsellor of JAPEX
June 2013
Corporate Advisor of JAPEX (incumbent)

Yoshiyuki Kagawa
April 1970
Joined Mitsui & Co., Ltd.
September 2001 Director of Mitsui Oil Exploration Co., Ltd.
October 2001 Chief Operating Ofﬁcer of Energy Business Unit, Energy
Group of Mitsui & Co., Ltd.
April 2002
Managing Ofﬁcer, Chief Operating Ofﬁcer of Energy
Business Unit, Energy Group of Mitsui & Co., Ltd.
April 2003
Executive Managing Ofﬁcer, Chief Operating
Ofﬁcer of Energy Business Unit of Mitsui & Co., Ltd.
April 2005
Representative Director, Executive Vice President of
Mitsui Oil Exploration Co., Ltd.
June 2005
Representative Director, President, CEO of Mitsui Oil
Exploration Co., Ltd.

084

INPEX CORPORATION Annual Report 2013

June 2006
June 2007
June 2012

Representative Director, President, CEO and CCO of
Mitsui Oil Exploration Co., Ltd.
Director of INPEX Holdings Inc. (currently the Company)(incumbent)
Senior Adviser of Mitsui Oil Exploration Co., Ltd.
(incumbent)

April 2009

Seiji Kato
April 1971
July 1997
April 2003
April 2006
April 2007
April 2008
June 2010
June 2011

Joined Mitsubishi Corporation
General Manager of LNG Business Department A of
Mitsubishi Corporation
Senior Vice President, Division COO of Natural Gas
Business Division of Mitsubishi Corporation
Senior Vice President, Division COO of Natural Gas
Business Division B of Mitsubishi Corporation
Executive Vice President, Group COO of Energy
Business Group of Mitsubishi Corporation
Executive Vice President, Group CEO of Energy
Business Group of Mitsubishi Corporation
Director of the Company (incumbent)
Corporate Adviser of Mitsubishi Corporation(incumbent)

Rentaro Tonoike
April 1978
April 2000

April 2008

Joined Nippon Mining Co., Ltd.
General Manager of Planning & Coordination Dept.,
Metal Division of Nippon Mining & Metals Co., Ltd.
October 2003 General Manager (Group Companies Coordination) of
Planning & Coordination Dept. of Nippon Mining &Metals Co., Ltd.
April 2006
Executive Ofﬁcer, General Manager (Planning & Coordination) of Planning & Coordination Dept. of Nippon

June 2012
June 2012

Mining & Metals Co., Ltd.
Executive Ofﬁcer, General Manager (Planning & Coordination) of Planning & Coordination Dept.; General
Manager of Coordination Dept., Metals Group; General
Manager of Planning Dept.,
Copper Division, Metals Group of Nippon Mining &Metals Co., Ltd.
General Manager (Planning & Coordination) of Planning& Coordination Dept.; General Manager of Coordination Dept., Metals Group; General Manager on Special
Assignment, Copper Division, Metals Group of Nippon
Mining & Metals Co., Ltd.
Department 1 of JX Holdings, Inc.
Director of the Company (incumbent)
Director, Senior Vice President and Executive
Ofﬁcer of JX Holdings, Inc. (incumbent)

Yasuhiko Okada
April 1966
July 1994
May 1995
July 1999
June 2003
January 2012
June 2012

Joined Ministry of FinanceDirector-General for the Tokyo Regional Taxation
BureauSecretary-General of Executive Bureau, Securities andExchange Surveillance Commission
Administrative Vice-Minister of Environment
Agency (currently Ministry of the Environment)
President of National Association ofLabour Banks; President of The Rokinren Bank
Attorney at Law admitted to practice in Japan;
Partner of Kitahama Partners (Tokyo Ofﬁce)(incumbent)
Director of the Company (incumbent)Auditors regarding audits. They also conduct regular meetings
with the internal audit department (Audit Unit) to receive reports
regarding internal audits and the evaluation of internal controls.
To strengthen the function of the statutory auditors andensure viable corporate governance, we are working to enhanceancillary staff for the statutory auditors and form partnerships
between the statutory auditors, the Audit Unit and the independent auditors. Moreover, we have constructed a system tostrengthen the monitoring function through periodic meetings
with directors including representative directors.

Outside Directors / Outside Auditors: Concurrently Held Positions and Reason for Appointment
Independent
director

Name

Outside auditors

Outside directors

Kazuo Wakasugi
Yoshiyuki Kagawa
Seiji Kato
Rentaro Tonoike

Signiﬁcant concurrently held positions

Reason for appointment

Attendanceat board meetings

Corporate Advisor for Japan Petroleum
Exploration Co., Ltd., a shareholder inour company

To utilize in our companyʼs management his rich experienceand broad knowledge as a business executive

Board of Directors
meetings 15/16

To utilize in our companyʼs management his rich experienceand broad knowledge as a business executive

Board of Directors
meetings 15/16

To utilize in our companyʼs management his rich experienceand broad knowledge in the resources/energy industry

Board of Directors
meetings 16/16

To utilize in our companyʼs management his rich experienceand broad knowledge in the resources / energy industry

Board of Directors
meetings 12/12
Board of Directors
meetings 12/12

Senior Advisor of Mitsui Oil Exploration
Co., Ltd., a shareholder in our company
Corporate Advisor of Mitsubishi
Corporation, a shareholder inour company
Director, Senior Vice President andExecutive Ofﬁcer of JX Holdings, Inc.,a shareholder in our company

Yasuhiko Okada

Partner of Kitahama Partners

Possesses extensive experience and knowledge in ﬁnanceas well as professional knowledge and experience as an
attorney, in addition to management experience in ﬁnancial
institutions

Haruhito Totsune―

Possesses rich knowledge and experience in ﬁnancial ﬁelds

Koji Sumiya―

To utilize in our companyʼs auditing procedures
his knowledge of ﬁnance

Hiroshi Sato

Executive Vice President and Executive
Ofﬁcer of Japan Petroleum Exploration
Co., Ltd., a shareholder in our company

To utilize in our companyʼs auditing procedures his richexperience and broad knowledge in the resources/energy
industry, as well as his accounting-related knowledge

Masaru Funai

Former Senior Consultant ofMarubeni Corporation

To utilize in our companyʼs auditing procedures his richexperience and broad knowledge in the resources/energy
industry, as well as his accounting-related knowledge

Board of Directors
meetings 15/16
Board of Auditors
meetings 14/15
Board of Directors
meetings 16/16
Board of Auditors
meetings 15/15
Board of Directors
meetings 13/16
Board of Auditors
meetings 12/15
Board of Directors
meetings 16/16
Board of Auditors
meetings 15/15

Statutory
Auditors

Yoshitsugu Takai

Haruhito Totsune

Koji Sumiya

Hiroshi Sato

Masaru Funai

Statutory Auditor

Statutory Auditor (Outside)

Statutory Auditor (Outside)

Statutory Auditor (Outside)

Statutory Auditor (Outside)

Joined Teikoku Oil Co., Ltd.
General Manager, Corporate Management Department
and LNG Project Department of Teikoku Oil Co., Ltd.
March 2001
Senior General Manager, Corporate Management
Department and LNG Project Department of
Teikoku Oil Co., Ltd.
March 2002
Director, General Manager, Accounting & Finance
Department of Teikoku Oil Co., Ltd.
March 2005
Managing Director of Teikoku Oil Co., Ltd.
October 2008 Senior Vice President, Logistics & IMT Division of
the Company
June 2011
Statutory Auditor of the Company (incumbent)

October 2005 Resident Executive Director, Osaka Branch of Japan
Bank for International Cooperation
October 2007 Senior Executive Director of Japan Bank forInternational Cooperation
October 2008 Managing Executive Ofﬁcer of Japan Bank forInternational Cooperation, Japan Finance Corporation
May 2010
Retired from Japan Bank for International
Cooperation, Japan Finance Corporation
June 2010
Statutory Auditor of the Company (incumbent)

Haruhito Totsune

June 2002

July 1969
July 1995
July 1997
July 1998

June 2005
April 2006

August 2004
June 2006
June 2007

Joined Ministry of Finance
Deputy Director-General of Financial Bureau
Director General of Japan Mint
Senior Executive Director of Japan FinanceCorporation for Small and Medium Enterprise
Corporate Advisor of KPMG AZSA & Co.
(currently KPMG AZSA LLC)
Statutory Auditor of INPEX Corporation
Statutory Auditor of INPEX Holdings Inc.
(currently the Company) (incumbent)

April 2002

Joined The Export-Import Bank of Japan
Director General, International Finance Department I
of Japan Bank for International Cooperation
Director General, Policy Planning and Coordination
Department of Japan Bank for International Cooperation

April 2005

Joined Japan Petroleum Exploration Co., Ltd. (JAPEX)
General Manager of Finance and Accounting
Department of JAPEX
Director, General Manager of Finance andAccounting Department of JAPEXManaging Executive Ofﬁcer of JAPEX
Statutory Auditor (part-time) of INPEX Holdings Inc.
(currently the Company) (incumbent)
Managing Director & Executive Ofﬁcer of JAPEX
Senior Managing Director & Executive Ofﬁcer of JAPEX
Executive Vice President & Executive Ofﬁcer of JAPEX(incumbent)

April 2007

April 2009

Masaru Funai
April 1972
April 1998

Koji Sumiya
April 1976
April 2001

June 2006
June 2007
June 2010

April 2003

June 2005

Hiroshi Sato
April 1970
June 1999

April 2002

April 2000
April 2001

Joined Marubeni Corporation
General Manager, Corporate Planning &Coordination Department of Marubeni Corporation
Executive Vice President and CFO of
Marubeni America Corporation
Executive Vice President, CFO and CAO of Marubeni
America Corporation

April 2010
June 2010
April 2011

General Manager, Risk Management Department ofMarubeni Corporation
Corporate Vice President, General Manager, Corporate
Planning & Coordination Department of Marubeni
Corporation
Corporate Senior Vice President, CIO, Executive
Corporate Ofﬁcer, Human Resources Department,
Information Strategy Department and Risk
Management Department of Marubeni Corporation
Corporate Senior Vice President, Member of the Board,
CIO, Executive Corporate Ofﬁcer, Human Resources
Department, Information Strategy Department and Risk
Management Department of Marubeni Corporation
Corporate Executive Vice President, Member ofthe Board, Executive Corporate Ofﬁcer, General
Affairs Department, Human Resources Department,
Risk Management Department andLegal Department of Marubeni Corporation
Senior Executive Vice President, Member of the Board,
CIO, Chief Operating Ofﬁcer, Information Strategy
Department, Corporate Accounting Department,
Business Accounting Department-I, BusinessAccounting Department-II, Business Accounting
Department-III and Finance Department, Senior
Operating Ofﬁcer, Audit Department, Chief Operating
Ofﬁcer, Investor Relations of Marubeni Corporation
Senior Executive Vice President, Member of the Board,
Senior Operating Ofﬁcer, Audit Department ofMarubeni Corporation
Statutory Auditor (part-time) of the Company(incumbent)
Senior Consultant of Marubeni Corporation

INPEX CORPORATION Annual Report 2013

Environment,
Society and GovernanceYoshitsugu Takai
April 1974
March 1999

6085

GovernanceInternal Control Systems / Risk Management
Internal Control Systems
Our company has developed an internal control system and has established asystem for the appropriate and efﬁcientperformance of company affairs.
An overview of these systems is asfollows.

Compliance by Directors andEmployees■ A Corporate Social Responsibility Policy

shall be established in order to ensure compliance by directors and employees.
■ A representative director shall be elected

Rules and Other Systems for
Risk Management

Employees toAssist Statutory Auditors■ To manage all types of risks related to our■ Two employees shall be assigned to concurrently assist with the statutory auditorsʼ

business activities, directors shall identify,
analyze and evaluate risks through close
cooperation with related departments.

3■ Based on the internal rules on group man-agement, directors shall manage groupwide risk.

1

notiﬁcation system with related departments and an external expert (lawyer) as
providers of consultation services.
■ To ensure effective compliance systems andrelevant internal rules, the Company shallverify and evaluate them and make the necessary improvements through audits carried out by the internal audit department(Audit Unit), which reports directly to the
President & CEO.
■ The Company shall develop and manage asystem to ensure the accuracy and reliability of ﬁnancial reporting while evaluating its
effectiveness.

Storage and Management ofInformation Related to the
Execution of Duties by Directors

2■ In accordance with applicable laws, regu-

lations, the Articles of Incorporation andinternal rules, an information security system shall be established for information
related to the execution of duties under
the jurisdiction of directors. Through thissystem, such information is appropriately
stored and managed.

operations shall be reviewed, assessed andrevised by the Audit Unit, related departments and / or external experts.

086

INPEX CORPORATION Annual Report 2013

Independence of Employees toAssist Statutory Auditors

7■ Any changes in personnel of the statutory
auditorsʼ assistants shall be discussed with

Efﬁciency of Duties for
Directors■ To establish a system that enables the efﬁ-

4cient performance of duties, major corporate decisions shall be addressed promptly
and properly through Executive Committee
meetings, which are held weekly and asnecessary.
■ The person in charge at each level shall per-form his/her daily duties promptly throughdelegation of authority based on internal
rules such as job demarcation and administrative authority.

Proper Operation of
the INPEX Group■ Subsidiaries shall conduct a group man-5

agement contract and shall be required toreport to the Company on important matters. The Company shall issue approvals
regarding such reports.
■ Based on the internal rules on groupmanagement, a partnership shall be conducted for the risk management, compliance management and internal auditing ofsubsidiaries.

Class A Stock
According to the stipulations of the Articles ofIncorporation, INPEX issues a Class A Stockto the Minister of Economy, Trade and Industry. This share possesses inﬂuence on certain
major corporate decisions. The Class A Stock
does not possess voting rights at shareholdersʼ meetings. However, it is possible for theholder of the Class A Stock to exercise vetorights for certain major corporate decisions.
For our company, the issuance of the Class A
Stock to the Minister of Economy, Trade andIndustry is an effective countermeasure to6

under the instruction of the statutory
auditors.

■ The management of risks related to the daily

to be the director in charge of compliance,
and the Company shall establish a Compliance Committee chaired by that director.
■ The Company shall establish an internal

duties.

■ These assistants shall execute their duties

the statutory auditors.

Reporting to Statutory Auditors■ Directors and employees shall report andprovide information to the statutory auditors for matters provided by laws and regulations and matters that might have a signiﬁcant impact on the Company.

8■ The statutory auditors shall always havethe right to obtain business information byattending the Board of Directorsʼ meetingsand other important internal meetings, as well
as receiving internal approval documents.

Ensuring the Effectiveness of
Audits by Statutory Auditors

9■ When conducting audits, the Company

shall ensure close cooperation with external experts such as lawyers, certiﬁed public
accountants and certiﬁed tax accountants.
■ To improve the effectiveness of audits, thestatutory auditors shall cooperate with
the Audit Unit and shall receive regularly
reports.

Stock Data (As of March 31, 2013)
prevent outside control over the business of
our company or against hostile takeovers for
speculative purposes. Furthermore, we expect
positive results in terms of external negotiationand credits as a leading oil and gas E&P contributing to the stable and efﬁcient supply ofenergy in Japan.
` See pp. 138–139 for Business Risks(8. Class A Stock).

Authorized Shares
Common Stock: 9,000,000 common shares(After stock split on Oct. 1, 2013: 3,600,000,000 shares)

Class A Stock: 1 Class A Stock
Total Number of Shareholders and Issued Shares
Common Stock:40,610 shareholders / 3,655,809 shares(After stock split on Oct. 1, 2013: 1,462,323,600 shares)

Class A Stock: 1 shareholder (Minister of
Economy, Trade and Industry) / 1 shareOverview of Risk Management
Business Continuity Plan (BCP)
Our Business Continuity Plan (BCP) prepares us for the smooth
continuity of operations during emergency conditions without
interrupting key headquarter functions. It has been compiled
as an earthquake response manual that stipulates 1 the basic
BCP policy, 2 the BCP for continuation of our key headquarter
operations and 3 an earthquake response manual to transit toa BCP system.

We renewed the BCP Manual drawing on our experiences in
the Great East Japan Earthquake. The BCP Manual exhaustively
covers measures to be taken in the event of a major earthquake
centered directly under Tokyo, stipulating every step from theﬁrst response measures through transition to the BCP structure.
Responses to outbreaks of new strains of inﬂuenza are also includedin the BCP, with a response manual that is distributed to all employees to cope with an operational disruption caused by an outbreak.

Emergency Response System and Business Continuation
Response Level of Operation
Major
earthquake

Corporate Crisis Management Team
Business Continuation Response Team

Emergency
response

Business continuity
response■ Evacuation, safety confirmation■ Disaster situation assessment■ Secondary disaster prevention■ Customer handling■ Rescue operations, etc.

■ Carrying out of continuingbusiness activities

BCP termination
announcement

BCP initiation
announcement

Level of operation

100％

Normalbusiness
operation

Restoration activities / Community contribution
Several weeks

Time

Addressing Climate Change Risk
Among the risks to the INPEX Group
imposed by climate change are damage
to production facilities or pipelines fromclimatic events, water shortages at operational sites, the impact on operationsof rising water levels and regulations
on greenhouse gas emissions. We takeall of these risks under consideration in
implementing projects. For example, wehave designed offshore facilities for the
Ichthys LNG Project in Australia that canwithstand major cyclones, and we havetaken a rise in sea levels in considerationin placing our facilities there. The offshore facilities at the Abadi LNG Project
also incorporate cyclone-proof design.

Offshore facility model test

6
Environment,
Society and Governance

Information Security Measures
INPEX has established a Basic Policy for
Information Security, and through thework of the Information Security Committee we have instituted a set of information security–related regulations, aswell as an information security control
structure. In addition to putting in placesecurity measures to guard conﬁdential
information, we seek to improve consciousness about information security
through employee training.

The Corporate Crisis Management Team
engages in discussion

Information Security Management System
Executive Committee
Head of Information Security

Information
Security Committee

Information security managers(Head of business divisions and project divisions)

Information security administrators(General Manager of each unit)

Users

INPEX CORPORATION Annual Report 2013087

GovernanceCompliance / Disclosure
Compliance Initiatives[1] Compliance Committee[4] Anti-Corruption Initiatives

To conduct integrated actions throughout our entire company,
we established the Compliance Committee. Our companyʼs
Vice Chairman (director in charge of compliance) serves as thechairperson of the committee. The committee works together
with the statutory auditors, the Board of Auditors, the Independent Auditors and the Audit Unit, which is the internal audit
department. Through this cooperation, the committee proposes / implements compliance measures, formulates measures
to prevent the reoccurrence of violations.

Endorsement of the UN Global Compact
INPEX endorsed the UN Global Compact in December 2011.
Having endorsed the Compact, the Company agrees to commit to 10 universally accepted principles across the four ﬁeldsof human rights, labor, the environment, and anti-corruption. In
this manner, INPEX is working to contribute to the sustainable
development of the international community.

Compliance Framework (Internal notiﬁcation system)
Board of Directors
Appoint

ReportCompliance Committee

Director in Charge of Compliance
Committee Chairperson: Masatoshi Sugioka (Vice Chairman)

Compliance Committee Members

Increasing the awareness of directors andemployees toward anti-corruption
The Companyʼs Code of Conduct outlines the need for directors and employees to adhere strictly to the related laws andregulations as they relate to the prevention of bribery and corrupt practices in each country. In addition, INPEX is currently
preparing speciﬁc guidelines in connection with the preventionof corruption. Based on these guidelines, the Company will continue to bolster its global anti-corruption structure and systems.

(Heads of Business Divisions)

ReportGeneral Administration Unit

External Consultation(Lawyer)

In-House Consultation Department in Charge of Compliance

Anonymize
Report/Consult

Report/Consult

Officers and Employees[2] Internal Notiﬁcation System
An internal notiﬁcation system was established in April 2006
in accordance with the Whistleblower Protection Act. The system is available for use by the directors and employees of ourcompany. Anonymous reporting is possible and whistleblowers
are thoroughly protected to ensure that they are not subject tounfair treatment. There were four reports received during theyear ended March 31, 2013.

Participating in EITIINPEX has been a participant in the Extractive Industries Transparency Initiative (EITI) from October 2012. EITI is a global initiative that aims to implement good governance and promoteeconomic development throughout resource-rich countries by
eradicating political corruption and poverty through the clariﬁcation of the ﬂow of funds from resource exploration industries
to the governments of resource producing countries. As of May
2013, 40 resource producing countries, numerous supporting
countries including Japan, and a substantial number of companies and NGOs were participants.
` EITIʼs Web sitewww.eitransparency.org[3] Compliance Education
The Company distributes a compliance manual and compliance Q&A to each and every employee. At the same time, adesignated compliance home page has been established on
the intranet. Moreover, the Compliance Journal is issued andposted each month. To heighten awareness toward compliance, the Company also conducts level-based (middle management and general employees) compliance training as wellas e-learning programs. Furthermore, lawyers serve as lecturers at group training sessions.

Compliance manuals

088

Compliance Q&A

INPEX CORPORATION Annual Report 2013

Compliance Journal

The exhibition booth at EITIʼs annual meeting

Compliance training

Disclosure Structure and IR Activities[1] Disclosure Structure
INPEX has put in place internal regulations to ensure the proper disclosure of corporate information. These regulations deﬁne the processes for collecting, managing,transmitting, and disclosing information.
` Please refer to the Companyʼs Web site for details: URL: inpex.co.jp/en/ir/policy
Representative directors and responsible directors as well as six dedicated staff conduct proactive IR activities for shareholders and investors in Japan and overseas. For any
questions regarding IR information, please contact the Investor Relations Group (TEL.:+81-3-5572-0234). Inquiries may also be directed through the Companyʼs Web site. For
inquiries and to request information via the Internet: URL: inpex.co.jp/en/ir/inquiries

7th Ordinary General Meeting of Shareholders(June 25, 2013)[2] Shareholder and Investor Contact (IR activities)
1. To invigorate the general meeting of shareholders and promote effective voting
Supplementary explanation
Early delivery of
convocation
notices for thegeneral meeting ofshareholders

At the 7th Ordinary General Meeting of Shareholders held on June25, 2013, we sent convocation notices on June 3, which was morethan three weeks before the date of the meeting.

Use of voting rights
through the Internet

We implemented the use of voting rights via the Internet. We also
adopted a platform for the electronic use of voting rights.

Other

The convocation notice and other related documentation are available in both Japanese and English on our companyʼs Web site and
TDnet. On the day of the shareholdersʼ meeting, we used videos anda slide show to explain our business before opening the meeting.

IR presentation for individual investors(presented by Toshiaki Kitamura, President & CEO
in January 2013)

2. Enhancing IR Activities
Supplementary explanation

Explanation byrepresentative:
Yes / NoWe participate in events such as IR fairs for individual
investors and meetings in venues such as branchesof brokerage ﬁrms. For the year ended March 31,
2013, we held 9 meetings in 8 cities throughout
Japan. The meetings were attended by more than
750 individual investors.

Yes

RegularIR presentations foranalysts andinstitutional investors

We hold biannual meetings on ﬁnancial results for analysts and institutional investors. The President & CEO
and the director in charge of ﬁnance and accounting
explain our ﬁnancial details and business forecast to
approximately 200 analysts and institutional investors.
Video archives of the meetings are made available on
the same day on our companyʼs Web site. An English
translation is included in the transmission.

Yes

IR meetings

We held more than 400 IR meetings with analysts
and institutional investors for the year ended March
31, 2013. Meetings included overseas IR roadshows, conferences and one-on-one meetings.

Yes

IR materials available
on Web site

Our Web site (IR section) features ﬁnancial reports,stock information, presentation materials, videos
and brochures for individual investors.
` inpex.co.jp/english/ir

Yes

RegularIR presentations forindividual investors

IR presentation for individual investors(presented by Masatoshi Sugioka, Vice Chairman
in February 2013)

6
Environment,
Society and Governance

The Companyʼs booth at the IR fair forindividual investors (February 2013)

Overseas site tour for analysts (December 2012)

INPEX CORPORATION Annual Report 2013089

Board of Directors (As of June 26, 2013)

Masaharu Sano
Seiji Yui
Director,
Senior Managing
Executive Ofﬁcer

Toshiaki Kitamura
President & CEO

Masatoshi Sugioka
Vice Chairman

Naoki Kuroda
Chairman090

INPEX CORPORATION Annual Report 2013

Director,
Senior Managing
Executive Ofﬁcer

Shunichiro Sugaya
Director,
Managing
Executive Ofﬁcer

Masahiro Murayama
Director,
Managing
Executive Ofﬁcer

Seiya Ito
Director,
Managing
Executive Ofﬁcer

Wataru Tanaka
Director,
Managing
Executive Ofﬁcer

Takahiko Ikeda
Director,
Managing
Executive Ofﬁcer

Yoshikazu Kurasawa
Director,
Managing
Executive Ofﬁcer

6
Environment,
Society and Governance

INPEX CORPORATION Annual Report 2013091

Naoki Kuroda

Masatoshi Sugioka

Chairman

April 1963

Joined Ministry of International Trade and Industry(currently Ministry of Economy, Trade and Industry)
June 1992
Director-General for the Agency of
Natural Resources and Energy
August 1993 Advisor to Bank of Tokyo Ltd. / Advisor to Mitsui Marine
Insurance, Ltd. (currently Bank of Tokyo-Mitsubishi
UFJ, Ltd. / Mitsui Sumitomo Insurance Co., Ltd.)
August 1995 Advisor to Sumitomo Corporation
June 1996
Managing Executive Director of Sumitomo Corporation
June 1999
Director of Indonesia Petroleum, Ltd.
(INPEX Corporation)
April 2001
Representative Director, Executive Vice President of
Sumitomo Corporation
August 2004 Senior Advisor to Sumitomo Corporation
September 2004 Representative Director,
Executive Senior Vice President of INPEX Corporation
June 2005
Representative Director, President of INPEX Corporation
April 2006
Representative Director, President of INPEX Holdings Inc.
(currently the Company)
June 2010
Representative Director, Chairman of the Company(incumbent)

Seiji Yui

Joined Teikoku Oil Co., Ltd.
General Manager of Engineering Department of
Teikoku Oil Co., Ltd.
March 1995
Senior General Manager of Teikoku Oil Co., Ltd.
March 1996
Director of Teikoku Oil Co., Ltd.
March 1999
Managing Director of Teikoku Oil Co., Ltd.
March 2002
Senior Managing Director of Teikoku Oil Co., Ltd.
March 2005
Representative Director,
President of Teikoku Oil Co., Ltd.
April 2006
Representative Director of INPEX Holdings Inc.
(currently the Company)
October 2008 Representative Director, Chief Technical Executive,in charge of HSE and Compliance of the Company
June 2010
Representative Director, Vice Chairman,
Chief Technical Executive, in charge of HSE andCompliance of the Company (incumbent)

Director, Senior Managing Executive Ofﬁcer

April 1975
Joined Indonesia Petroleum, Ltd. (INPEX Corporation)
September 1999 General Manager of Jakarta Ofﬁce of INPEX Corporation
June 2000
Director,
General Manager of Jakarta Ofﬁce of INPEX Corporation
March 2003
Director, Coordinator of Exploration Department 1
and Exploration Department 2 of INPEX Corporation
June 2003
Managing Director of INPEX Corporation
April 2004
Managing Director of Japan Oil Development Co., Ltd.
March 2006
Representative Director,
Managing Director of Japan Oil Development Co., Ltd.
April 2006
Director, Deputy Senior General Manager ofCorporate Strategy & Planning Division andTechnology Division of INPEX Holdings Inc.
(currently the Company)
March 2007
Managing Director, Senior General Manager ofTechnology and HSE Division, in charge of
Oceania & America projects of INPEX Holdings Inc.
June 2007
Managing Director, Senior General Manager ofTechnology and HSE Division and Oceania & America
Project Division of INPEX Holdings Inc.
October 2008 Director, Senior Managing Executive Ofﬁcer,
Senior Vice President of Asia & Australasia of theCompany
June 2012
Director, Senior Managing Executive Ofﬁcer,
Senior Vice President of Corporate Strategy &Planning Division of the Company (incumbent)

092

INPEX CORPORATION Annual Report 2013

Vice Chairman

April 1968
April 1994

Masaharu Sano
April 1974
April 2000

Toshiaki Kitamura

President & CEO

April 1972

Joined Ministry of International Trade and Industry(currently Ministry of Economy, Trade and Industry)
July 2002
Director-General for Trade andEconomic Cooperation Bureau, Ministry of Economy,
Trade and Industry
July 2003
Director-General for Manufacturing Industries Bureau,
Ministry of Economy, Trade and Industry
June 2004
Director-General for Trade Policy Bureau,
Ministry of Economy, Trade and Industry
July 2006
Vice-Minister for International Affairs,
Ministry of Economy, Trade and Industry
November 2007 Adviser to Tokio Marine &Nichido Fire Insurance Co., Ltd.
April 2008
Visiting Professor of Waseda University Graduate School
August 2009 Executive Vice President of the Company
June 2010
Representative Director,
President & CEO of the Company (incumbent)

Director, Senior Managing Executive Ofﬁcer

Joined Teikoku Oil Co., Ltd.
General Manager ofTechnical Planning Department of Teikoku Oil Co., Ltd.
March 2001
Senior General Manager of Teikoku Oil Co., Ltd.
March 2001
General Manager of New Ventures Department,International Projects Division of Teikoku Oil Co., Ltd.
March 2002
Director, General Manager of
New Ventures Department,International Projects Division of Teikoku Oil Co., Ltd.
March 2005
Managing Director, President ofInternational Projects Division /Domestic Offshore Division of Teikoku Oil Co., Ltd.
April 2006
Director, Deputy Senior General Manager ofCorporate Strategy & Planning Division / Technology
Division of INPEX Holdings Inc. (currently the Company)
October 2008 Director, Senior Managing Executive Ofﬁcer,
Senior Vice President of
The Americas & Africa Project Division of the Company
June 2012
Director, Senior Managing Executive Ofﬁcer,
Senior Vice President of Technical Division of
the Company (incumbent)

Shunichiro Sugaya

Director, Managing Executive Ofﬁcer

April 1976
April 1997

Joined Indonesia Petroleum, Ltd. (INPEX Corporation)
General Manager of Development Department ofIndonesia Petroleum, Ltd.
June 2001
Director, General Manager ofDevelopment Department of INPEX Corporation
June 2002
Director, Coordinator in charge of Development
Department of INPEX Corporation
September 2005 Director, Senior General Manager of Asia Project
Division, Assistant Senior General Manager ofTechnology and HSE Division and Coordinatorin charge of Asia region / technology and HSE of
INPEX Corporation
June 2007
Managing Director, Senior General Manager ofAsia Project Division of INPEX Corporation
October 2008 Director, Managing Executive Ofﬁcer, Senior Vice
President of Masela Project of the Company (incumbent)

Masahiro Murayama

Director, Managing Executive Ofﬁcer

April 1976

Joined The Industrial Bank of Japan, Ltd.
(currently Mizuho Corporate Bank, Ltd., etc.)
June 1999
General Manager of Financial Institutions Banking
Division No. 2 of The Industrial Bank of Japan, Ltd.
June 2001
General Manager of Corporate Banking Department
No. 2 of The Industrial Bank of Japan, Ltd.
April 2002
General Manager of Corporate Banking Division
No. 9 of Head Ofﬁce of Mizuho Corporate Bank, Ltd.
December 2002 General Manager of Syndicated Finance Structuring
Division No. 1 of Mizuho Corporate Bank, Ltd.
October 2003 General Manager of Syndicated Finance Distribution
Division No. 1 of Mizuho Corporate Bank, Ltd.
April 2004
Executive Ofﬁcer, General Manager of SyndicatedFinance Distribution Division No. 1 ofMizuho Corporate Bank, Ltd.
October 2004 Executive Ofﬁcer, General Manager of Loan Trading
Division of Mizuho Corporate Bank, Ltd.
April 2005
Managing Executive Ofﬁcer, in charge ofcorporate banking of Mizuho Corporate Bank, Ltd.
April 2008
Director, Deputy President of Mizuho Securities Co., Ltd.
April 2009
Council of Mizuho Securities Co., Ltd.
May 2009
Advisor to the Company
June 2009
Director, Managing Executive Ofﬁcer,
Senior Vice President of Finance & Accounting of
the Company (incumbent)

Seiya Ito

Director, Managing Executive Ofﬁcer

April 1977
April 2002

Joined Indonesia Petroleum, Ltd. (INPEX Corporation)
General Manager of Corporate Planning &Management Department of INPEX Corporation
June 2003
Director, General Manager of Corporate Planning &Management Department of INPEX Corporation
November 2004 Director, General Manager of Corporate Planning &Management Department and Public Affairs
Department of INPEX Corporation
September 2005 Director, Assistant Senior General Manager ofCorporate Strategy & Administration Division,
General Manager of Corporate Strategy & Planning
Unit and Public Affairs Unit of INPEX Corporation
April 2006
Director, Assistant Senior General Manager ofCorporate Strategy & Administration Division,
General Manager of Corporate Strategy & Planning
Unit of INPEX Corporation
April 2006
Director, Assistant Senior General Manager ofCorporate Strategy & Planning Division of
INPEX Holdings Inc. (currently the Company)
July 2006
Director, Deputy Senior General Manager of Oceania& America Project Division of INPEX Corporation
October 2008 Director, Managing Executive Ofﬁcer,
Senior Vice President of Ichthys Project of
the Company (incumbent)

6

April 1977
June 2000

Director, Managing Executive Ofﬁcer

Joined Indonesia Petroleum, Ltd. (INPEX Corporation)
General Manager of Planning & New Ventures
Department of INPEX Corporation
June 2003
Director, General Manager of Planning & New
Ventures Department of INPEX Corporation
June 2004
Director, Coordinator in charge of the Middle East
and Caspian Sea regions of INPEX Corporation
October 2004 Director, Deputy General Manager of Tehran Ofﬁce of
INPEX Corporation
February 2007 Director, Coordinator in charge of Middle East
projects of INPEX Corporation
April 2007
Director, Assistant Senior General Manager of General
Administration and Corporate Planning Division of
INPEX Corporation
October 2008 Managing Executive Ofﬁcer, Deputy Senior General
Manager of General Administration Division of
the Company
June 2009
Director, Managing Executive Ofﬁcer, Senior Vice
President of General Administration of the Company
June 2011
Director, Managing Executive Ofﬁcer, Senior Vice
President of General Administration Division(incumbent) and Corporate Strategy & Planning
Division of the Company

Takahiko Ikeda
April 1978
March 2002

Director, Managing Executive Ofﬁcer

Joined Teikoku Oil Co., Ltd.
General Manager of Production Department,
Domestic Operating Division of Teikoku Oil Co., Ltd.
March 2004
Senior General Manager of Teikoku Oil Co., Ltd.
March 2005
Director of Teikoku Oil Co., Ltd.
April 2006
General Manager of Domestic Project Planning and
Administration Unit, Corporate Strategy &Administration Division of INPEX Holdings Inc.
(currently the Company)
June 2007
Managing Director, President of Domestic Operation
Division and General Manager of Niigata District
Department of Teikoku Oil Co., Ltd.
October 2008 Director, Managing Executive Ofﬁcer, Senior Vice
President of Domestic Projects of the Company(incumbent)

Yoshikazu Kurasawa

Director, Managing Executive Ofﬁcer

April 1982
Joined Japan National Oil Corporation
February 2004 Deputy General Manager of Planning & New Ventures
Department of INPEX Corporation
April 2005
General Manager of Planning & New Ventures
Department of INPEX Corporation
September 2005 General Manager of Business Development and Legal
Unit, General Administration & Corporate Planning
Division of INPEX Corporation
April 2006
General Manager of Overseas Project Planning and
Administration Unit, Corporate Strategy &Administration Division of INPEX Holdings Inc.
(currently the Company)
June 2007
Executive Ofﬁcer, General Manager of Business
Development and Legal Unit, General Administration& Corporate Planning Division of INPEX Corporation
October 2008 Executive Ofﬁcer, Assistant Senior General Manager ofCorporate Strategy & Planning, General Manager ofBusiness Development and Legal Unit of the Company
June 2011
Managing Executive Ofﬁcer, Vice President ofCorporate Strategy & Planning of the Company
June 2012
Director, Managing Executive Ofﬁcer, Senior Vice
President of New Ventures Division of the Company(incumbent)

INPEX CORPORATION Annual Report 2013

Environment,
Society and Governance

Wataru Tanaka

093

Directors and Auditors
ChairmanNaoki Kuroda

Vice Chairman

Masatoshi Sugioka

President & CEO

Toshiaki Kitamura

Director

Seiji Yui

C A

Director (Outside)

Kazuo Wakasugi

（2）
（4 ）

C C H A

Director (Outside)

Yoshiyuki Kagawa

（2）
（4 ）

（1）

C A

Director (Outside)

Seiji Kato

（2）
（4 ）

（1）

C C H I A

Director (Outside)

Rentaro Tonoike

（2）
（4 ）

C H I

Director (Outside)

Yasuhiko Okada

（2）
（4 ）

Statutory Auditor

Yoshitsugu Takai

Director

Masaharu Sano（1）

Director

Shunichiro Sugaya

（1）

C H

Director

Masahiro Murayama

（1）

C I

Director

Seiya Ito

（1）

C H

Director

Wataru Tanaka（1）

C C H I

Director

Takahiko Ikeda

（1）

C H

Director

Yoshikazu Kurasawa

（1）

C H I

Executive Ofﬁcers
President & CEO

Statutory Auditor(Outside)
Statutory Auditor(Outside)
Statutory Auditor(Outside)
Statutory Auditor(Outside)Haruhito Totsune

（3）
（4 ）

Koji Sumiya

（3）
（4 ）

Hiroshi Sato

（3）
（4 ）

Masaru Funai

（3）
（4 ）

(1) Concurrently hold the position of executive ofﬁcer(2) Outside directors as deﬁned in Article 2, Item 15, of the Companies Act(3) Outside auditors as deﬁned in Article 2, Item 16, of the Companies Act(4) Independent directors / auditors as deﬁned in Article 436, Item 2, Sub-Item 1,of the Securities Listings Regulations for the Tokyo Stock Exchange

Executive Ofﬁcer

Takashi Kubo

Vice President of Logistics & IMT Division
General Manager of Logistics & Insurance Unit

Executive Ofﬁcer

Toshihiko Fukasawa

Vice President of Domestic Project Division
General Manager of Planning & Coordination
Administration Unit

Executive Ofﬁcer

Hirohisa Ota

Vice President of Masela Project Division,
General Manager of Technical Unit

Executive Ofﬁcer

Yoshinori Yamamoto

Vice President of Oil & Gas Business Division 2
General Manager of Gas Marketing Unit
General Manager of Oil Products Marketing Unit

Executive Ofﬁcer

Hajime Kawai

Vice President of Masela Project Division
Vice President of Strategy & Condition, Jakarta Ofﬁce

Executive Ofﬁcer

Atsushi Sakamoto

Vice President of Ichthys Project Division
Project Director of Onshore Technical Coordination,
Perth Ofﬁce

C H

Executive Ofﬁcer

Arihiro Kezuka

Vice President of Ichthys Project Division,
General Manager of Technical Unit

C H I

Executive Ofﬁcer

Kimiya Hirayama

Vice President of Domestic Project Division General
Manager of Niigata District Ofﬁce, General Manager of
Production Unit, General Manager of Drilling UnitC

Executive Ofﬁcer

Nobuharu Sase

Vice President of Oil & Gas Business Division 1
General Manager of Oil Marketing UnitC

Executive Ofﬁcer

Shigeharu Yajima

Vice President of Oil & Gas Business Division 1
General Manager of Gas Business Unit

C H

Executive Ofﬁcer

Tetsuro Tochikawa

Vice President of Technical Division

Executive Ofﬁcer

Yoshiro Ishii

Vice President of Corporate Strategy & Planning Division
General Manager of New Business Planning Unit

C H

Executive Ofﬁcer

Toshiya Oshita

Vice President of Technical Division, General Manager ofTechnical Resources Unit

C H

Executive Ofﬁcer

Kimihisa Kittaka

Vice President of Corporate Strategy & Planning Division
General Manager of Corporate Strategy & Planning Unit
General Manager of Corporate Communication Unit

Executive Ofﬁcer

Hideki Iwashita

Vice President of Ichthys Project Division
Director of Commercial Coordination, Perth Ofﬁce

C A

Toshiaki Kitamura

Senior Managing
Executive Ofﬁcer
Senior Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer
Managing
Executive Ofﬁcer

Seiji Yui

Senior Vice President of Corporate
Strategy & Planning Division

Masaharu Sano

Senior Vice President of Technical Division

Shunichiro Sugaya

Senior Vice President of Masela Project Division

C H

Senior Vice President of Finance & Accounting
Masahiro Murayama Division

C I

Seiya Ito

Senior Vice President of Ichthys Project Division

C H

Wataru Tanaka

Senior Vice President of General
Administration Division

Takahiko Ikeda

Senior Vice President of Domestic Project Division

Yoshikazu Kurasawa

Senior Vice President of New Ventures Division

Sadafumi Tanigawa

Senior Vice President of Oil & Gas Business Division 1

Kasaburo Tamura

Senior Vice President of Oil & Gas Business Division 2

Akinori Sakamoto

Senior Vice President of Gas Suppy &Infrastructure Division

Kazuo Yamamoto

Senior Vice President of Logistics & IMT DivisionC

I

Shuhei Miyamoto

Senior Vice President of America &Africa Project Division

Kenji Kawano

Senior Vice President of Asia, Oceania &Offshore Japan Project Division

Yasuhisa Kanehara

Senior Vice President of Eurasia & Middle
East Project Division

C H

Kazuhiko Itano

Vice President of Corporate Strategy & Planning
Division

Hiroshi Fujii

Vice President of Eurasia & Middle East Project Division

Executive Ofﬁcer

Noboru Himata

Vice President of Finance & Accounting Division
General Manager of Finance UnitC C H I A
C H I

C C H ICInternal Committees
Objectives

Established

Number of Committee
Meetings Held during
the Year Ended March 31, 2013

Advisory
A Committee

The INPEX Advisory Committee is made of up key figures fromJapan and overseas. The Committee provides the Company with advice andrecommendations on a host of business-related issues and has been establishedto further enhance corporate value and corporate governance.

Oct. 2012

1

C CSR
Committee

The CSR Committee is charged with the responsibility of systematicallypromoting and continuously strengthening CSR activities Companywide.

Apr. 2012

5

Compliance

The Compliance Committee is charged with the responsibility offostering greater awareness toward compliance within the Company andstrengthening corporate ethics and behavior.

Apr. 2006

6

Corporate HSE

The Corporate HSE Committee promotes HSE (health, safety and environment)
activities on a Group-wide basis in accordance with the HSE Management System.

Oct. 2007

9

Information
Security Committee

The Companyʼs Information Security Committee evaluates and determines
a variety of measures that are considered essential to the maintenance,
management, and strengthening of information security.

Nov. 2007

3

C Committee

H Committee

I
094

INPEX CORPORATION Annual Report 2013