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.
We are striving to improve profitability and build a business foundation in the medium- to long-term for contributing to the realization of carbon neutrality under the JAPEX Management Plan 2022-2030 formulated in March 2022. This Management Plan has referred to "JAPEX 2050: Toward a Carbon-Neutral Society", which was developed as our future direction for carbon neutrality in May 2021, in response to the Japanese government's declaration of "Carbon Neutrality by 2050".
Based on the plan and directions, 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 businesses, we place importance on our corporate culture of "safety first" that underlies our company.
JAPEX Sustainability Activities
Since formulating the medium-term business plan in 2018, JAPEX set a policy on sustainability activities, to actively work on solving social issues toward the realization of a sustainable society.
In addition, in our direction toward carbon neutrality "JAPEX 2050" developed in May 2021, we clearly stated our greenhouse gas (GHG) emission reduction target to achieve net zero in 2050.
For specific activities based on these policies, 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 management plan and ESG management.
JAPEX IR Activities
Since our listing on 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 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.