JAPEX was established in 1955 as a company engaged in the exploration, development, and production (E&P) of oil and natural gas. With stable energy supply as our mission, we have been striving to contribute to the development of the E&P industry in Japan, also to pursue the corporate growth and increase our corporate value over the years, mainly through the oil and gas business.
On the other hand, the market environment and society surrounding oil and natural gas have undergone significant changes in recent years, including the movement toward a global carbon-neutral society against climate change. In addition, in response to the growing interest of stakeholders in environmental, social, and governance (ESG), we are required to take a long-term and multifaceted perspective that includes contributing to the realization of a sustainable society, and to conduct management and business based on this perspective.
Based on these changes in the market and the demands of society, we are engaged in business activities in Japan and overseas, sustainability activities, and timely and appropriate disclosure of information on these activities.
JAPEX Business Activities
JAPEX recognizes that oil and natural gas will continue to play a major role in the world's primary energy sources. At the same time, we believe that business structure reform and further enhancement of corporate value are essential for achieving sustainable growth and addressing environmental change.
Based on the Long-Term Vision 2030 and the Medium-Term Business Plan 2018-2022, which were formulated in May 2018, we are working to grow into a comprehensive energy company by leveraging our oil and natural gas E&P and its supply business base.
In May 2021, in response to the Japanese government's declaration of "carbon neutrality by 2050," we formulated "JAPEX 2050: Toward the Realization of a Carbon Neutral Society," which outlines the future direction and objectives of our contributions.
Based on these policies and other factors, we will focus our management resources on early commercialization of carbon neutral fields such as CCS (Carbon dioxide Capture and Storage)/CCUS (Carbon dioxide Capture, Utilization, and Storage,); expansion of renewable energy and other environmentally friendly businesses; and further development of the existing businesses, such as the oil and natural gas E&P as well as the supply of natural gas and LNG with low environmental impact, in Japan and overseas.
In conducting our business, we at JAPEX value and work with the "safety first" corporate culture that underlies our company.
JAPEX Sustainability Activities
In the medium-term business plan formulated in 2018, JAPEX established a policy on sustainability activities, to actively work on solving social issues toward the realization of a sustainable society.
In addition, in JAPEX 2050, our carbon neutral direction and objectives announced in May 2021, we clearly stated our greenhouse gas (GHG) emission reduction target to achieve net zero in 2050.
For specific activities based on our policy and direction, we set and manage annual targets based on the five core CSR themes, "SHINE. These targets and achievements are reported on our website and in the Integrated Report as appropriate.
We recognize that sustainability activities are part of or closely related to our business activities. Based on this recognition, the Sustainability Committee, chaired by the President, deliberates and discusses matters related to the medium-term business plan and ESG management.
JAPEX IR Activities
Since our listing on the First Section of the Tokyo Stock Exchange in December 2003, JAPEX has been striving to provide timely and appropriate disclosure of information on our business performance, financial condition, business and other matters.
We are also working to enhance our information disclosure so that our shareholders and investors can better understand our company. In addition to expanding the information and materials included in the disclosure of quarterly financial results, we are also working to expand the disclosure of non-financial information such as sustainability through by the Integrated Report.
At the same time, we hold regular financial results briefings for institutional investors and analysts, and posts the recordings and question-and-answer summaries on our website. We also strive to create opportunities for direct dialogue with individual investors through participation in briefings and seminars held by securities companies and other organizations.
The environment surrounding our business is expected to change further in the future. In response to these changes, we will continue to aim for growth as a comprehensive energy company and further enhancement of our corporate value. We look forward to your continued understanding and support for our further challenges.