Note: The following is an English translation of the Japanese-language original

May 10, 2019
Company Name: Japan Petroleum Exploration Co., Ltd. (JAPEX)Securities Code:

1662 (First Section of Tokyo Stock Exchange)

Representative:

Hideichi Okada, Representative Director and President

Inquiries:

Media and Investor Relations Dept.

Tel:+81-3-6268-7110

Notice Regarding Change of Representative Directors and Other Senior Managementand Reorganization concerning Technology Field for Further Promotion of New BusinessJapan Petroleum Exploration Co., Ltd. (JAPEX) hereby announced that the following changes ofrepresentative director and other senior management had been resolved at the Board of Directors' meeting
held today. These matters are planned to propose its resolution in the 49th Ordinary General Meeting ofShareholders and the Board of Directors' meeting subsequently scheduled on June 27, 2019.
In addition, the reorganization concerning technology for further promotion of the new business will beimplemented on June 27, 2019 as follows.

1. Change of Representative Director (as of June 27, 2019)
1) Candidates of new Representative Director
Name

New Title

Current Title

Representative Director,
Masahiro Fujita

Executive Vice President, Assistant of－President, Special Mission
Director,

Yosuke Higai

Representative Director,

Senior Managing Executive Officer,

Executive Vice President, President ofAssistant of President (Administration),

Marketing & Sales Division, In charge ofPresident of Marketing & Sales Division, In

Secretary Office and Procurement Dept.

charge of Secretary Office and Procurement
Dept.

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2. Change of Directors (as of June 27, 2019)
1) Candidate of new Director
Name
Yukari Yamashita

New Title

Current Title

Outside Director－2) Change of Responsible Business for Director
Name

New Title

Current Title

Director,Takahisa Inoue

Senior Managing Executive Officer, In chargeof HSE Dept., President of Domestic E&P
Project Division

Director,Senior Managing Executive Officer,
President of Domestic E&P Project Division

3) Retiring of Director
Name

New Title

Current Title
Director,
Senior Managing Executive Officer, Advisor

Hikaru Fukasawa

to President (Technical), In charge of HSE

AdvisorDept., Special Mission for Hidaka Offshore
Exploration

3. Changes of Executive Officer (as of June 27, 2019)1) New Executive Officers
Name

New Title

Current Title

Executive Officer, In charge of Internal
Yoshihiko MotoyamaControl, Administration and Legal Dept. andGeneral Manager of Procurement Dept.

Information Technology Dept.,
Shinichi Takahata

Executive Officer, Vice President of Technical

General Manager of Technical Planning &Division

Coordination Dept. of Technical Division

Executive Officer, Advisor to Executive inToshiaki Nakajima

charge of Corporate Strategy Dept., Advisor toGeneral Manager of Corporate Strategy

Executive in charge of Media & Investor

Dept.

Relations Dept.

2/32) Advancement of Executive Officer
NameTsuyoshi Suga

New Title

Current Title

Senior Managing Executive Officer, Vice

Managing Executive Officer, Vice President

President of Marketing & Sales Division, Viceof Marketing & Sales Division, VicePresident of Soma Project Division

President of Soma Project Division

3) Retiring of Executive Officers
Name

New Title

Current Title
Managing Executive Officer, In charge ofKunio Suga

Internal Control, Administration and Legal

Auditor of Japex Offshore Ltd.*(*continuing; appointed June 23, 2016)

Dept. and Information Technology Dept.,
Advisor to President of Asia & Oceania
Project Division

Akihisa Takahashi

Advisor to President of Technical Division

Executive Officer, President of Environment
and Innovative Technology Projects Division

4. Reorganization concerning Technology Field for New Business Promotion (as of June 27, 2019)
Based on "Mid-term Business Plan 2018-2022" released on May 2018, JAPEX has been stably promoting
to conduct the business of oil and gas E&P and domestic natural gas supply as well as to generate and growenvironmental-friendly new businesses using our knowledge and expertise in the ongoing business.
In order to accelerate the effort of new business promotion more efficiently, Technical Division andEnvironment and Innovative Technology Projects Division will be integrated into one organization as
Technical Division and departments of the division will be reorganized on June 27, for pursuing integrated
operation of technology development concerning the new business. By integrating and optimizing thefunction of technical investigation and development as well as technical planning concerning environment
including applied technologies our structure for new business promotion will be strengthened, following theestablishment of New Business Promotion Dept. on December 2018, which is responsible for theinvestigation, development, and planning of new business candidates.
Furthermore, the operation of renewable energy business has consolidated into Renewable Energy
Business Dept. of Soma Project & Power Business Division, which was established on May 1, 2019. Thisdepartment is responsible for promoting investigation, development, and planning of the new businessconcerning renewable energy.

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