Japan Petroleum Exploration Co., Ltd.
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JAPEX was established in 1955 as a company engaged in the exploration, development, and production or E&P of oil and natural gas. We have been striving to achieve sustainable growth and increase corporate value by fulfilling our social mission of stable supply of energy.

The business environment surrounding oil and natural gas is undergoing significant change nowadays, driven by global efforts to combat climate change and move towards carbon-neutral society. Likewise, growing stakeholders' interest in environmental, social and governance or ESG issues require companies to take a long-term, multi-faceted perspective that includes contributing to sustainable society, and to manage and develop their business based on this perspective. We commit to stably provide oil and natural gas, which are essential for daily life, while expand our business in the infrastructure/utility field that support providing energy and carbon-neutral field, with the aim of achieving both a supply of oil and natural gas and carbon-neutral society.

In response to changes in the market and demands of society, we are engaged in domestic and international business activities, sustainability activities and timely and appropriate disclosure of information on these activities.

JAPEX Business Activities

Recognizing that oil and natural gas will continue to play an major role in the world's primary energy sources, we will further enhance our corporate value by transforming our business structure in response to changes in the external environment.

We will adhere to and strive to implement the policy of strengthening profitability and building a medium- to long-term business foundation as set forth in the JAPEX Management Plan 2022-2030, the medium- to long-term management plan for the period from FY2022 to FY2030 formulated in March 2022. The management plan has referred to "JAPEX 2050 : Toward a Carbon-Neutral Society" published in May 2021, which sets out the direction in which JAPEX should respond to the Japanese government's declaration of "Carbon Neutrality by 2050".

The experience we have gained in providing stable energy supplies is a valuable strength that is essential to our continued growth. Valuing our accumulated knowledge while looking to the future and not settling for the status quo, we will build a strong earnings base by investing both in E&P and non-E&P fields in a balanced way. With regard to CCS, the key to achieving carbon-neutral society, activities towards commercialization are well underway both in Japan and abroad.

While valuing the "safety first" culture we have developed over the years, we will anticipate major changes in the times and environment and the speed at which they occur and will foster a culture in which both JAPEX as a whole and each individual employee can actively take on new challenges and grow.

JAPEX Sustainability Activities

We run business with a strong sense of corporate social responsibility or CSR and promote sustainability activities aimed at solving social problems to realize sustainable society and increasing our medium- to long-term corporate value.

Specific activities are based on the SHINE CSR Priorities formulated in 2014, which are reviewed from time to time considering societal changes and demands, and annual targets are set and managed. These goals and achievements are reported as appropriate on our website and in our Integrated Report.

In 2023, we defined "materialities", which connects SHINE and the JAPEX Management Plan 2022-2030. We have identified immediate issues to address, that are "stable energy supply" and "building a carbon-neutral business" as the key business issues, while "human resource development and diversity" and "digital transformation or DX" as related to management infrastructure.

Through the materiality initiative, we will achieve the JAPEX Management Plan 2022-2030 and continue to grow as a company that is trusted by stakeholders.

JAPEX IR Activities

Since our listing on the Tokyo Stock Exchange in December 2003, we have been striving to provide and to improve information on our business performance, financial condition, and other information, in timely, appropriate, and fair manner. In addition, we will strive to further enhance our disclosure of non-financial information such as climate change, biodiversity, human capital, human rights.

We seek to increase corporate value in a sustainable manner by allocating management resources and building business portfolio with full awareness of the cost of capital and return on capital. We also place great importance on active dialogue or "engagement" with shareholders and investors and seek to promote mutual understanding by incorporating constructive opinions from a medium- to long-term perspective into corporate management.

The business environment in which JAPEX operates is expected to continue to change in the future. By responding appropriately to the risks and opportunities presented by these changes, we will grow as an integrated energy company and will further increase our corporate value. We sincerely ask for your continued understanding and support for our new challenges.

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