FY 2023 Modern Slavery Act Statement
This Statement for the Modern Slavery Act 2015 (the “Statement”) is published pursuant
to Section 54(1) of the Modern Slavery Act 2015 of the United Kingdom (UK). JAPEX
hereby discloses the steps it has taken during its financial year ended on March 31, 2023
to ensure slavery and human trafficking are not taking place in the business and supply
chains of JAPEX Group as follows:
1. About JAPEXJAPEX is engaged in oil and gas exploration and production in Japan and overseas mainly
in North America, Southeast Asia and Middle East. JAPEX participates in exploration anddevelopment activities in the UK North Sea. Please visit the link below for more
information:
https://www.japex.co.jp/en
2. JAPEX’s Policies(1) Corporate Vision・JAPEX Group Code of Ethics and Conduct・Human Rights Policy
A key part of JAPEX’s corporate vision is to make stakeholder trust its highest
priority while striving to achieve sustainable growth and maximize corporate value.
To realize our Corporate Vision and to sustain as a company trusted by society, wehereby establish the JAPEX Group Code of Ethics and Conduct, which provides
corporate ethics standards and principles of action to be adhered by all officers andemployees. The Code of Ethics and Conduct requires 'we respect the human rights
of all individuals'.
Through our Human Rights Policy, we aim to reaffirm JAPEX Group's commitment
to respecting human rights and clearly identify human rights issues related to ourbusiness activities. By doing so, we seek to enhance the understanding of ourapproach to human rights among our group’s executives, employees, andstakeholders.
Please visit the link below for more information:＜Corporate Vision/Code of Ethics and Conduct＞
https://www.japex.co.jp/en/company/overview/vision/＜Respect for Human Rights＞
https://www.japex.co.jp/en/sustainability/social/humanrights/(2) Compliance Manual
Concerning compliance matters relating to laws and regulations, conventional
wisdom and social norms stipulated in JAPEX Group Code of Ethics and Conduct,
JAPEX’s Compliance Manual refers to the standards which JAPEX Group’s directors,
officers and employees are required to comply with in their business operations andstipulates importance of respect for the human rights based on the Universal
Declaration of Human Rights, International Covenants on Human Rights and ILO
International Labor Standards.
(3) Participation in International Initiatives
JAPEX has participated in the United Nations Global Compact (UNGC) since May
2020. Based on the UNGC's ten principles, JAPEX strives to respect human rights

under the commitment of top executives.
3. JAPEX’s Activities(1) Supply Chain Management
Based on our CSR Procurement Policy, we strive to conduct fair and impartial
procurement activities and prioritize the procurement of environmentally friendly
products and services. We also take great care to ensure that our procurement
activities do not contribute to human rights violations.
(2) Investment Evaluation and Project Management Process
During Investment Evaluation and Project Management Process, JAPEX identifies
not only commercial and technical issues but also actual and potential
environmental and social issues, and thoroughly evaluates risks and their mitigationplans. Based on the foregoing, JAPEX properly manages these risks byimplementing appropriate measures, such as monitoring, according to company
rules and regulations.
(3) Compliance Reporting and Consultation Systems
JAPEX has established not only internal helpline but also external helpline,engaged by the JAPEX company attorney, for receiving reports and consultations on
all compliance matters, including respect for human rights as outlined in theCompliance Manual. The helpline services are available under anonymity for
employees making reports and consultations and designed to secure confidentiality
and prohibition of disadvantageous treatment for the employees using helpline
services.
(4) Education
JAPEX makes efforts to keep employees informed of the policies as stated in
Section 2 above, and places “compliance” as a basic matter that employees mustremain aware of in their conduct of business. In practice, JAPEX provides its group’s
employees with training opportunities on a regular basis and also gives mandatory
training programs on fundamental compliance matters to new employees and those
employees at appropriate stages in their careers every year. JAPEX also provided
education for executives and employees by distributing e-mail newsletters to raiseawareness of harassment prevention.
In addition to the above, in the fiscal year 2023, we conducted a human rights
study session for executives, targeting the management of our subsidiaries andassociates.
(5) Human Rights Due Diligence
As part of our ongoing commitment to human rights,in fiscal year 2023, we
conducted an assessment to identify and evaluate human rights risks and thecorresponding measures in place across our domestic subsidiaries and associates(17 locations). This survey revealed several issues. Specifically, our assessment
identified that there are inadequacies in the implementation framework for humanrights due diligence, the prohibition of discrimination, and the areas of freedom ofassociation and collective bargaining rights. To address these issues, we havepromptly reported the necessary countermeasures to the respective companies andproposed initiatives for prevention and mitigation.