Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN

August 9, 2018

Announcement of Revised Financial Forecasts for the Six Months Ending
September 30, 2018 and the Year Ending March 31, 2019
Tokyo, Japan - INPEX CORPORATION (INPEX) announced today that it has revised its
consolidated financial forecasts for the six months ending September 30, 2018 and the year
ending March 31, 2019 announced on May 10, 2018 as follows.

Revised consolidated financial forecasts for the six months ending September 30, 2018
Net incomeOperating
Ordinary
attributable
Net income
Net sales
incomeincometo owners ofper shareparentPrevious forecasts
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Yen(May 10, 2018): A
384,000
165,000
165,000
12,000
8.22
Revised forecasts: B
419,000
211,000
222,000
25,00017.12
Increase (decrease): B-A
35,00046,00057,00013,000Percentage(%) change
9.1
27.9
34.5
108.3
Reference:
Consolidated financial
447,922
185,827
195,415
30,15220.65
results for the six months
ended September 30, 2017

Revised consolidated financial forecasts for the year ending March 31, 2019
Net income
Operating
Ordinary
attributable
Net sales
incomeincometo owners ofparent
Previous forecasts
Millions of yen
Millions of yen
Millions of yen
Millions of yen(May 10, 2018): A
860,000
377,000
371,000
48,000
Revised forecasts: B
945,000
460,000
463,000
48,000
Increase (decrease): B-A
85,00083,00092,000Percentage(%) change
9.9
22.0
24.8
Reference:
Consolidated financial
933,701
357,363387,269
40,362
results for the fiscal year
ended March 31, 2018

Net income
per share
Yen

32.87
32.87

27.64

Consolidated financial forecasts for the six months ending September 30, 2018 have beenrevised mainly due to better-than-expected financial results in the first quarter attributed to arise in crude oil prices and the depreciation of the yen, revised crude oil price and exchangePublic Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPANrate assumptions1, the carry-over of certain expenses to the second half of the current fiscal
year and other factors.
The company has also revised its consolidated financial forecasts for the year ending March31, 2019 taking into account the revised consolidated financial forecasts for the first half of thecurrent fiscal year reflecting the results of the first quarter, revised crude oil price andexchange rate assumptions1, a re-evaluation of the expected revenue generated from theIchthys LNG Project in the current fiscal year2 and other factors.

1

Crude oil price and exchange rate assumptions
Previous forecasts(May 10, 2018)
stCrudeoilprice 1 half (Forecast) 65.0
nd(Brent) (US$/bbl)
2 half (Forecast) 65.0
Full year65.0
stExchange rate
1 half (Forecast)105.0
nd(yen/US$)
2 half (Forecast) 105.0
Full year
105.0

※i
※ii

2st

Revised forecasts(August 9, 2018)st
1 half (Forecast) 72.5※ind
2 half (Forecast) 70.0
Full year
71.2
st
1 half (Forecast) 109.6※iind
2 half (Forecast) 110.0
Full year
109.8

nd

1 quarter (Actual): US$75.0/bbl, 2 quarter (Forecast): US$70.0/bbl
stnd
1 quarter (Actual): ¥109.1/US$, 2 quarter (Forecast): ¥110.0/ US$

Expected revenue generated from the Ichthys LNG Project in the fiscal year ending March 31,

2019
The financial forecasts issued previously on May 10, 2018 factored approximately 24 billion
yen—equivalent to the difference between the company’s net income attributable to owners ofparent forecasts for the first and second half of the current fiscal year—as the expected revenue
generated from the Ichthys LNG Project into the company’s net income attributable to owners ofparent for the second half, based on the assumption that the Project would commence theshipment of products towards the end of the first half.
The revised financial forecasts announced today factor approximately 10 billion yen as theexpected revenue generated from the Ichthys LNG Project into the company’s net income
attributable to owners of parent for the second half, based on the assumption that the shipment ofproducts※iii will commence between the end of the first half and the third quarter(October-December 2018) of the current fiscal year, following the commencement of production ofgas from the wellhead※iv in the second quarter of the current fiscal year.

※iii

Products will be shipped in the order of condensate, liquefied natural gas (LNG) and liquefied petroleum gas(LPG)

Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN※iv

Announcement on July 30, 2018: https://www.inpex.co.jp/english/news/pdf/2018/e20180730.pdf

NB: Forecasts above are based on information that is currently available and reflect uncertainties.
The final results may differ from the forecasts due to changes in business conditions including oil
and natural gas price levels, production and sales plans, project development schedules,
government regulations and financial and tax schemes, etc.

Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233