ファConsolidated Financial Results for the Three Months ended June 30, 2011 [Japanese GAAP]
August 3, 2011
Note: The following report is an English translation of the Japanese-language original.
Company name

: INPEX CORPORATION

Stock Exchange on which the Company is listed : Tokyo Stock Exchange

Code number: 1605

URL http://www.inpex.co.jp

Representative: Toshiaki Kitamura, President

Contact person: Kimihisa Kittaka, General Manager, Corporate Communications Unit
TEL+81-3-5572-0233

Scheduled date of filing Quarterly Financial Report: August 10, 2011

Scheduled date of payment of cash dividends: ―Preparation of supplementary explanatory materials: Yes

Meeting of quarterly financial results presentation: None(Amounts less than one million yen are rounded off)

1. Consolidated Financial Results for the Three Months ended June 30, 2011 (April 1, 2011-June 30, 2011)(1) Consolidated operating results(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales

Operating income

Ordinary income

Net income

For the three months ended
June 30, 2011

Millions of yen

294,916

31.7

176,23939.7

178,32945.3

40,17725.5

June 30, 2010

223,903

20.9

126,18336.7

122,698

38.7

32,004

23.1%

Millions of yen%

Millions of yen%

Millions of yen%(Note): Consolidated comprehensive income: for the three months ended June 30, 2011, ¥43,417 million; (200.7%)
for the three months ended June 30, 2010, ¥14,440 million; (―%)

Net income pershare—basic
For the three months ended
June 30, 2011
June 30, 2010

Net income pershare—diluted
Yen

Yen

―
―

11,004.72
13,598.83(2) Consolidated financial position
Total assets
Millions of yen

As of June 30, 2011
As of March 31, 2011

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

Net assets

2,768,241
2,680,379

2,131,457
2,097,382

73.2
74.5

(Reference): Net assets excluding minority interests: as of June 30, 2011, ¥2,026,915 million
as of March 31, 2011, ¥1,996,888 million

2. Dividends
Cash dividends per share
At 1st quarter end At 2nd quarter end At 3rd quarter end At fiscal year end
For the year ended
March 31, 2011
For the year ending
March 31, 2012

Yen

―

Yen

3,000.00

Total

Yen

Yen

Yen

―

3,000.00

6,000.00―

For the year ending
3,000.00
3,000.00―
March 31, 2012 (forecast)(Note): Changes in projected dividends for the year ending March 31, 2012 from the previous forecast: None

6,000.00

3. Forecasted Consolidated Financial Results for the year ending March 31, 2012 (April 1, 2011-March 31, 2012)(Figures in % represent the changes from the previous fiscal period or year)

Net sales

Operating income

Ordinary income

Net income

Millions of yen% Millions of yen% Millions of yen% Millions of yen%
For the six months ending
543,000 25.4
307,000 32.0
304,000 38.1
70,000 38.3
September 30, 2011
For the year ending
1,058,000 12.2
597,000 12.7
585,000 15.0
140,000
8.8
March 31, 2012
(Note): Changes in forecasted consolidated financial results for the year ending March 31, 2012 from the previous forecast: Yes

Net income per
share
Yen

19,173.39
38,346.77

ファ4. Others: None(1) Significant changes in scope of consolidation(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 andother regulations
2. Other changes in accounting policies
3. Changes in accounting estimates
4. Restatement of corrections(4) Number of shares issued (Common stock)
1. Number of shares issued at the end of the period(including treasury stock):
2. Number of treasury stock at the end of the period:
3. Average number of shares:: None: None: None: None3,655,810 shares as of June 30, 2011
3,655,810 shares as of March 31, 2011
4,916 shares as of June 30, 2011
4,916 shares as of March 31, 2011
3,650,894 shares for the three months ended June 30, 2011
2,353,494 shares for the three months ended June 30, 2010

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

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

ファIndex of the Attachments

1.

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

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

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

3(3) Qualitative Information on Forecasted Consolidated Financial Results………………………………………………....

3

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

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

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

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

4

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

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

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

7
7

2.

4.

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

8(3) Conditions or events that indicate there could be substantial doubt about
the Company’s ability to continue as a going concern…………………………………………………………………..

9(4) Segment Information…………………………………………………………………………………………………......

10(5) Note on significant changes in shareholders’ equity……………………………………………………………………..

11(6) Subsequent events………………………………………………………………………………………………………..

11

Supplementary information……………………………………………………………………………………………….....

12(1) Production, orders received and sales performance……………………………………………………………………...

12

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ファ

1.Qualitative Information / Financial Statements(1) Qualitative Information on Consolidated Financial Results
During the three months ended June 30, 2011, consolidated net sales were ¥294.9 billion (increased by ¥71.0 billion, or 31.7%, fromthe corresponding period of the previous fiscal year) due mainly to an increase in sales price of crude oil and natural gas despite anappreciation of Japanese yen against U.S. dollar. Net sales of crude oil increased by ¥53.1 billion, or 41.1%, to ¥182.3 billion, and net
sales of natural gas increased by ¥17.1 billion, or 19.4%, to ¥105.8 billion. Sales volume of crude oil increased by 1,650 Mbbls, or
9.2%, to 19,608 Mbbls. Sales volume of natural gas decreased by 6,180 MMcf, or 6.1%, to 94,568 MMcf. Sales volume of overseas
natural gas decreased by 5,930 MMcf, or 6.9%, to 80,230 MMcf, and sales volume of domestic natural gas decreased by 7 MM㎥, or
1.7%, to 384 MM㎥ (14,337 MMcf). The average sales price of overseas crude oil increased by US$35.62 per bbl, or 46.1 %, toUS$112.97 per bbl, and the average sales price of overseas natural gas increased by US$4.93 per Mcf, or 58.9%, to US$13.30 per Mcf.
In addition, the average sales price of domestic natural gas increased by ¥1.21, or 2.9%, to ¥42.60 per ㎥. The average exchange rateof Japanese yen against U.S. dollar on consolidated net sales appreciated by ¥10.29, or 11.2%, to ¥81.79 per U.S. dollar from thecorresponding period of the previous fiscal year.
The increase of ¥71.0 billion in net sales was mainly derived from the following factors: an increase in sales volume contributing ¥2.9
billion, with an increase in unit sales price contributing ¥101.4 billion to the increase, the appreciation of Japanese yen against U.S.
dollar pushing sales down of ¥34.0 billion, and an increase in net sales excluding crude oil and natural gas of ¥0.7 billion.
Cost of sales for the three months ended June 30, 2011 increased by ¥15.1 billion, or 19.0%, to ¥94.8 billion due mainly to an increasein royalty in the ADMA Block owing to an increase in sales. Exploration expenses increased by ¥4.8 billion, or 260.8%, to ¥6.6
billion due mainly to an increase in exploration activities in Americas. Selling, general and administrative expenses increased by ¥0.9
billion, or 6.1%, to ¥17.1 billion. As a result, operating income increased by ¥50.0 billion, or 39.7%, to ¥176.2 billion.
Other income increased by ¥6.6 billion, or 169.5 %, to ¥10.6 billion due to an increase in equity in earnings of affiliates and gain onchange in equity. Other expenses increased by ¥1.0 billion, or 14.8%, to ¥8.5 billion due mainly to an increase in provision for
exploration projects and provision for allowance for recoverable accounts under production sharing owing to an increase in
exploration activities in Americas and Asia. As a result, ordinary income and income before income taxes and minority interests
increased by ¥55.6 billion, or 45.3%, to ¥178.3 billion.
Total amount of current income taxes increased by ¥50.5 billion, or 59.8%, to ¥135.1 billion, and deferred income taxes were ¥0.6
billion, income before minority interests increased by ¥7.6 billion, or 22.0%, to ¥42.5 billion, and minority interests were ¥2.3 billion.
As a result of the above effects, net income for the three months ended June 30, 2011 increased by ¥8.1 billion, or 25.5%, to ¥40.1
billion from the corresponding period of the previous fiscal year.

Financial results by segment are as follows:
1)

2)

3)

4)

5)

Japan
Net sales increased by ¥1.2 billion, or 5.3%, to ¥24.6 billion due to an increase in sales price of natural gas and petroleum
products. Operating income decreased by ¥1.4 billion, or 26.8%, to ¥3.9 billion due to an increase in net purchase of natural gas.
Asia & Oceania
Net sales increased by ¥18.3 billion, or 18.4%, to ¥117.9 billion due to an increase in sales price of crude oil and natural gas
despite a decrease in sales volume of crude oil and natural gas, and appreciation of Japanese yen. Operating income increased by¥18.0 billion, or 31.8%, to ¥74.7 billion.
Eurasia (Europe & NIS)
Net sales increased by ¥6.5 billion, or 49.9%, to ¥19.7 billion due to an increase in sales price and sales volume of crude oil, andoperating income increased by ¥3.5 billion, or 45.5%, to ¥11.4 billion.
Middle East & Africa
Net sales increased by ¥47.0 billion, or 56.0%, to ¥131.1 billion due to an increase in sales price and sales volume of crude oil,and operating income increased by ¥35.4 billion, or 61.7%, to ¥92.9 billion.
Americas
Net sales decreased by ¥2.1 billion, or 61.6%, to ¥1.3 billion due to a decrease in sales volume of crude oil, and operating loss
was ¥4.2 billion (¥0.8 billion of operating income for the corresponding period of the previous fiscal year) due to an increase in
exploration expenses.

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ファ

(2) Qualitative Information on Consolidated Financial Position
Total assets as of June 30, 2011 increased by ¥87.8 billion to ¥2,768.2 billion from ¥2,680.3 billion as of March 31, 2011. This is due
mainly to an increase in investment securities by ¥69.3 billion, and an increase in recoverable accounts under production sharing
owing to investment in Kashagan oil field and others by ¥15.5 billion.
Meanwhile, total liabilities increased by ¥53.7 billion to ¥636.7 billion from ¥582.9 billion. Current liabilities increased by ¥47.1
billion to ¥301.8 billion and long-term liabilities increased by ¥6.6 billion to ¥334.9 billion.
Net assets increased by ¥34.0 billion to ¥2,131.4 billion. Minority interests in net assets increased by ¥4.0 billion to ¥104.5 billion.
(3) Qualitative Information on Forecasts for Consolidated Financial Results
Forecasts for consolidated financial results for the six months ending September 30, 2011 and for the year ending March 31, 2012
have been revised from the previous forecast presented on May 11, 2011, taking into consideration the consolidated financial results
for the three months ended June 30, 2011. Meanwhile, we do not include the transfer of interest in the Masela Block, Indonesia(Abadi project) which was announced on July 22, 2011, as this transaction has not closed at this moment.
1.

Forecasts for consolidated financial results for the six months ending September 30, 2011
Operating
Ordinary
Net sales
incomeincomePrevious Forecasts: A
497,000
275,000
266,000

Net income

60,000

Revised Forecasts: B

543,000

307,000

304,000

70,000

Increase (Decrease): B－A

46,00032,00038,00010,000

9.3

11.6

14.3

16.7

Percentage change (%)
2.

(Millions of yen)

Forecasts for consolidated financial results for the year ending March 31, 2012
Operating
Net sales
incomePrevious Forecasts: A
1,016,000
569,000
Revised Forecasts: B(Millions of yen)
Ordinary
incomeNet income

550,000

130,000

1,058,000

597,000

585,000

140,000

42,00028,00035,00010,000

4.1

4.9

6.4

7.7

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

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

Revised Forecasts

Crude Oil Price(Brent)Full Year (April 1, 2011- March 31, 2012) :US$95.0/bbl (Average)

Exchange rate

Full Year (April 1, 2011- March 31, 2012) :¥80.0/US$1 (Average)

1st quarter (actual): US$ 117.2/bbl
From 2nd quarter: US$ 95.0/bbl
Full Year (April 1, 2011- March 31, 2012) :US$100.5/bbl (Average)
1st quarter (actual): ¥81.8/US$1
From 2nd quarter: ¥80.0/US$1
Full Year (April 1, 2011- March 31, 2012) :¥80.4/US$1 (Average)

Note: Crude oil prices at which the Company sells products depend on the type of crude oil, and there are also price differences
between the crude oil price and Brent price. Price differences are caused by its quality and its pricing range which is affected by themarket conditions. Most of the crude oil prices are lower than Brent price.

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ファ

2.Others(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:
None

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

As of March 31, 2011

As of June 30, 2011

(Assets)
Current assets
Cash and deposits

112,395

143,580

Accounts receivable-trade95,391

103,871

Marketable securities

207,165

163,748

Inventories

12,137

13,319Other

78,98392,895Less allowance for doubtful accounts(13,141)(13,152)

Total current assets

492,932

504,263

379,861

379,563

Goodwill

101,362

99,672

Other147,748

146,110

Total intangible assets

249,110245,783

Investment securities

975,541

1,044,848

Recoverable accounts under production
sharing534,330

549,879

Other

159,533

155,320

(270)

(250)

(96,879)(104,103)(13,780)(7,062)

Total investments and other assets

1,558,474

1,638,630

Total fixed assets

2,187,447

2,263,977

2,680,379

2,768,241

Fixed assets
Tangible fixed assets
Intangible assets

Investments and other assets

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

Total assets― 5 ―更新日時:2011/07/29 19:53:00

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(Millions of yen)Accounts

As of March 31, 2011

As of June 30, 2011

(Liabilities)
Current liabilities
Accounts payable-trade23,441

27,354

Short-term loans

4,441

4,162

113,101

115,441

9,537

9,191

Accrued bonuses to officers

127

37

Asset retirement obligations

3,686

3,634

Other

100,393

142,029

Total current liabilities

254,728

301,850

268,706

273,159

Accrued retirement benefits to employees

6,979

6,768

Accrued special repair and maintenance

443

451

Asset retirement obligations

8,965

9,212

Other

43,17345,341

Total long-term liabilities

328,268

334,933

Total liabilities

582,997

636,783

Common stock

290,809290,809

Capital surplus

679,287

679,287

Retained earnings

1,047,431

1,076,655

Treasury stock(5,248)(5,248)2,012,280

2,041,504

1,455

1,061

Translation adjustments(16,847)(15,651)

Total accumulated other comprehensive
income(15,391)(14,589)

Minority interests

100,493

104,541

Total net assets

2,097,382

2,131,457

Total liabilities and net assets

2,680,379

2,768,241

Income taxes payable
Provision for exploration projects

Long-term liabilities
Long-term debt

(Net assets)
Shareholders’ equity

Total shareholders’ equity
Accumulated other comprehensive income
Unrealized holding gain on securities― 6 ―ァイル名:④H24.3第1四半期_PL_包括利益【済】.doc

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

For the three months ended
June 30, 2010

For the three months ended
June 30, 2011

Net sales

223,903294,916

Cost of sales

79,72094,861Gross profit

144,183

200,054

Exploration expenses

1,852

6,684

Selling, general and administrative expenses

16,147

17,130Operating income

126,183

176,239

Interest income

1,041

1,112

Dividend income

1,200

1,353

Equity in earnings of affiliates

―

1,979

Gain on change in equity

―

4,678

Other

1,692

1,480

Total other income

3,934

10,603

Interest expense

230

287

Equity in losses of affiliates

733―

Provision for allowance for recoverable accounts under
production sharing

―

3,958

Provision for exploration projects

―

1,658

1,555

―

245

664

Other

4,654

1,945

Total other expenses

7,419

8,513

Ordinary income

122,698

178,329

Income before income taxes and minority interests

122,698

178,329

Income taxes-current

84,560135,153

Income taxes-deferred

3,274

629

Total income taxes

87,834

135,782

Income before minority interests

34,86342,546

Minority interests

2,858

2,369

Net income

32,00440,177

Other income

Other expenses

Loss on adjustment for changes of accounting standard for asset
retirement obligations
Foreign exchange loss

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更新日時

Consolidated Statements of Comprehensive Income(Millions of yen)Accounts

For the three months ended
June 30, 2010

For the three months ended
June 30, 2011

34,86342,546

Unrealized holding loss on securities(12,606)(388)

Translation adjustments(8,029)

780

213

479

Total other comprehensive income(20,423)

870

Comprehensive income

14,44043,417

13,892

40,979547

2,438

Income before minority interests
Other comprehensive income

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

Total comprehensive income attributable to
Shareholders of INPEX CORPORATION
Minority interests- 8 -ファイル名:⑤H24.3第1四半期セグメント-海外売上高-継続企業【済】.doc 更新日時:2011/07/29 11:20:00

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(3) Conditions or events that indicate there could be substantial doubt about the Company’s ability to continue as a going concern
For the three months ended June 30, 2011 (April 1, 2011 through June 30, 2011):
None

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(4) Segment information
I For the three months ended June 30, 2010 (April 1, 2010 through June 30, 2010)
1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Eurasia
Middle East
(Europe &Americas& Africa
NIS)

Adjustments Consolidated

Japan

Asia &
Oceania

23,444

99,602

13,191

84,1093,557

223,903―

223,903

―

―

―

―

―

―

―

―

23,444

99,602

13,191

84,1093,557

223,903―

223,903

5,373

56,6887,886

57,487886

128,322(2,139)126,183

Total

*1

*2

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

Note: 1. Adjustments of segment income of ¥(2,139) million include elimination of inter-segment transactions of ¥60 million andcorporate expenses of ¥(2,200) million. Corporate expenses are mainly amortization of goodwill that are not allocated to areportable segment and general administrative expenses.
2. Segment income is reconciled with operating income on the consolidated statements of income.
2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
None

II

For the three months ended June 30, 2011 (April 1, 2011 through June 30, 2011)

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

Adjustments Consolidated

Japan

Asia &
Oceania

24,679117,932

19,769131,169

1,366

294,916―

294,916

―

―

―

―

―

―

―

―

Total

24,679117,932

19,769131,169

1,366

294,916―

294,916

Segment income (loss)

3,933

74,738

11,472

92,948(4,232)

178,860(2,621)

176,239

Total

*1

*2

Net sales
Sales to third parties
Intercompany sales andtransfers between segments

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

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(5) Note on significant changes in shareholders’ equity
For the three months ended June 30, 2011 (April 1, 2011 through June 30, 2011):
None(6) Subsequent events

For the three months ended June 30, 2011 (April 1, 2011 through June 30, 2011):
Transfer of interest by INPEX Masela, Ltd.
INPEX Masela, Ltd., a consolidated subsidiary of the Company, has agreed with Shell Upstream Overseas Services (I) Limited on July22, 2011, to transfer a 30 % participating interest of Abadi gas field, in the Masela Block, the Arafura Sea, Indonesia, which INPEX Masela is pursuing preparation for development. This transaction is subject to approval of the Indonesian Government and satisfaction ofcertain other conditions, accordingly, the impact on the consolidated financial results has not been determined at this moment.

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4. Supplementary information(1) Production, orders received and sales performance1) Actual production
The following table shows actual production by segment for the three months ended June 30, 2010
For the three months ended
Segment
Category
June 30, 2010
0.3 MMbbls
Crude oil(3.7 Mbbls per day)10.7 Bcf
Natural gas(117.9 MMcf per day)
2.1 MMboe
Subtotal(23.3
Mboe
per day)Japan
48.9 MklPetroleum products(307.6 Mbbls)
122.0 tons
IodineElectric power
41.9 millions kWhgeneration
7.0 MMbbls
Crude oil
(76.4 Mbbls per day)76.7 Bcf
Asia & Oceania
Natural gas(842.8 MMcf per day)19.7 MMboe
Subtotal(216.9 Mboe per day)
2.4 MMbbls
Eurasia (Europe & NIS)
Crude oil(26.6 Mbbls per day)11.9 MMbbls
Middle East & Africa
Crude oil(131.0 Mbbls per day)
0.7 MMbbls
Crude oil(7.9 Mbbls per day)
8.2 Bcf
AmericasNatural gas(90.0 MMcf per day)
2.1 MMbbls
Subtotal(22.9 Mboe per day)22.3 MMbbls
Crude oil
(245.6 Mbbls per day)95.6 Bcf
Natural gas(1,050.8 MMcf per day)38.3 MMboe
Subtotal(420.7 Mboe per day)Total
48.9 MklPetroleum products(307.6 Mbbls)
122.0 tons
IodineElectric power
41.9 millions kWhgeneration
Notes:

1. The volume of LPG produced overseas is included in ‘Crude oil.’ On the other hand, the volume of LPG produced in thedomestic refinery is included in ‘Petroleum Products.’
2. A portion of crude oil production volume is consumed as material for petroleum products.
3. A portion of crude oil and natural gas production volume is consumed as fuel to generate electricity.
4. The production by the Company’s affiliates accounted for by the equity method is included in the figures above. Also the
production volume is a result for the three months ended June 30 regardless of a closing date of fiscal periods of its
subsidiaries or affiliates.
5. The production volume of crude oil and natural gas under the production sharing contracts entered into by INPEX Groupcorresponds to the net economic take of the group.
Figures calculated by multiplying the gross production volume by the Company’s interest share are 32.6 MMbbls (358.5
Mbbls per day) of crude oil, 135.4 Bcf (1,488.1 MMcf per day) of natural gas, and in total 55.2 MMboe (606.5 Mboe perday).
6. Boe means barrels of oil equivalent.
7. The volume of petroleum products is converted to bbl in parenthesis. Applied coefficient is 6.29 bbls per kl.
8. Iodine is refined by other company on consignment.
9. Figures are rounded to the first decimal place.
10. Production volume of natural gas has changed reflecting the change in applied coefficient of domestic natural gas volume
from the year ended March 31, 2011. The volume before the change is 10.4 Bcf (114.4 MMcf per day) for Japan segment
and 95.3 Bcf (1,047.2 MMcf per day) for all segments total.

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4ファイル名:

The following table shows actual production by segment for the three months ended June 30, 2011
For the three months ended
Segment
Category
June 30, 2011
0.3 MMbbls
Crude oil
(3.2 Mbbls per day)
9.5 Bcf
Natural gas(104.4 MMcf per day)
1.9 MMboe
Subtotal
per day)
(20.6
Mboe
Japan
53.5 MklPetroleum products(336.3 Mbbls)
104.8 tons
IodineElectric power
40.7 millions kWhgeneration
5.0 MMbbls
Crude oil(54.6 Mbbls per day)75.3 Bcf
Asia & Oceania
Natural gas(828.0 MMcf per day)17.5 MMboe
Subtotal(192.6 Mboe per day)
2.4 MMbbls
Eurasia (Europe & NIS)
Crude oil(26.3 Mbbls per day)13.9 MMbbls
Middle East & Africa
Crude oil(152.6 Mbbls per day)
0.5 MMbbls
Crude oil(5.1 Mbbls per day)
6.9 Bcf
AmericasNatural gas(75.9 MMcf per day)
1.6 MMbbls
Subtotal(17.8 Mboe per day)22.0 MMbbls
Crude oil
(241.9 Mbbls per day)
91.8 Bcf
Natural gas(1,008.3 MMcf per day)37.3 MMboe
Subtotal(409.9 Mboe per day)Total
53.5 MklPetroleum products(336.3 Mbbls)
104.8 tons
IodineElectric power
40.7 millions kWhgeneration
Notes:

1. The volume of LPG produced overseas is included in ‘Crude oil.’ On the other hand, the volume of LPG produced in thedomestic refinery is included in ‘Petroleum Products.’
2. A portion of crude oil production volume is consumed as material for petroleum products.
3. A portion of crude oil and natural gas production volume is consumed as fuel to generate electricity.
4. The production by the Company’s affiliates accounted for by the equity method is included in the figures above. Also the
production volume is a result for the three months ended June 30 regardless of a closing date of fiscal periods of its
subsidiaries or affiliates.
5. The production volume of crude oil and natural gas under the production sharing contracts entered into by INPEX Groupcorresponds to the net economic take of the group.
Figures calculated by multiplying the gross production volume by the Company’s interest share are 31.2 MMbbls (343.3
Mbbls per day) of crude oil, 131.0 Bcf (1,439.7 MMcf per day) of natural gas, and in total 53.1 MMboe (583.2 Mboe perday).
6. Boe means barrels of oil equivalent.
7. The volume of petroleum products is converted to bbl in parenthesis. Applied coefficient is 6.29 bbls per kl.
8. Iodine is refined by other company on consignment.
9. Figures are rounded to the first decimal place.

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

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4ファイル名:

3) Actual sales
The following table shows sales by segment for the three months ended June 30, 2010:

Segment

CategoryJapan

Crude OilNatural Gas(excluding LPG)
LPG

(Millions of yen)
For the three months ended
June 30, 2010
Sales volume
Net sales
52 Mbbls

409

14,587 MMcf

16,17768 Mbbls

Other
Subtotal

Asia & Oceania

Crude OilNatural Gas(excluding LPG)
LPG

23,4444,010 Mbbls

29,471

78,273 MMcf

64,859836 Mbbls

5,271

Subtotal

99,602Eurasia (Europe & NIS)

Crude Oil

1,830 Mbbls

13,191

Middle East & Africa

Crude Oil

11,765 Mbbls

84,109302 Mbbls

2,006

Americas

Crude OilNatural Gas(excluding LPG)
Subtotal

7,888 MMcf

1,550

Total

Notes:

770
6,087

Crude OilNatural Gas(excluding LPG)
LPG

3,557
17,958 Mbbls

129,186

100,747 MMcf

82,587905 Mbbls

6,042

Other

6,087

Total

223,903

1. The above amounts do not include the related consumption tax.
2. The Company’s subsidiaries of which closing date for fiscal year is December 31 are principally consolidated their operating
results for the three months ended March 31, 2010 except those subsidiaries prepared their financial statements forconsolidation purpose as of the consolidation closing date. However, the significant effects of the difference in fiscal periods
were properly adjusted in consolidation.
3. Sales volumes are rounded to the nearest whole number.
4. Sales volume of natural gas has changed reflecting the change in applied coefficient of domestic natural gas volume from theyear ended March 31, 2011. The volume before the change is 14,061 MMcf for Japan segment and 100,221 MMcf for all
segments total.

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4ファイル名:

The following table shows sales by segment for the three months ended June 30, 2011:(Millions of yen)
For the three months ended
June 30, 2011
Sales volume
Net sales

Segment

CategoryJapan

Crude OilNatural Gas(excluding LPG)
LPG

71 Mbbls

696

14,337 MMcf

16,36668 Mbbls

808

Other

6,807

Subtotal

Asia & Oceania

24,679Crude OilNatural Gas(excluding LPG)
LPG

3,237 Mbbls

30,52773,152 MMcf

86,041200 Mbbls

1,363

Subtotal
Eurasia (Europe & NIS)

Crude Oil

2,051 Mbbls

19,769Middle East & Africa

Crude Oil

14,230 Mbbls

131,169

20 Mbbls

144

Americas

Crude OilNatural Gas(excluding LPG)
Subtotal

7,079 MMcf

1,222

19,608 Mbbls

182,307

94,568 MMcf

103,630

268 Mbbls

2,171

Total

Notes:

117,932

1,366

Crude OilNatural Gas(excluding LPG)
LPG
Other

6,807

Total

294,916

1. The above amounts do not include the related consumption tax.
2. The Company’s subsidiaries of which closing date for fiscal year is December 31 are principally consolidated their operating
results for the three months ended March 31, 2011 except those subsidiaries prepared their financial statements forconsolidation purpose as of the consolidation closing date. However, the significant effects of the difference in fiscal periods
were properly adjusted in consolidation.
3. Sales volumes are rounded to the nearest whole number.
4. Sales for a major customer and sales as a percentage of total net sales are as follows. Sales amount of PERTAMINA
consists mostly of natural gas, and over half of them are sold to Japanese customers in the form of LNG.

For the three months
ended June 30, 2010
CustomerAmounts(Millions of yen）

PERTAMINA

66,383― 15 ―For the three months
ended June 30, 2011

Ratio

Amounts

Ratio

(%)

（Millions of yen）

(%)

29.7

57,08519.4