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Message from President & CEO

Representative Director President and Chief Executive Officer Hideichi Okada

JAPEX was established in 1955 as an oil and gas E&P(*1) company, and we have been striving to contribute technical innovation of E&P and stable supply of energy in Japan, and we have been aiming to expand our business field and increase our corporate value over the years.

We recognize that oil and gas will play the key role as global primary-energy in the mid-to-long term. At the same time, we need to diversify our business portfolio for responding to the change of market and society and increasing the business stability. Moreover, in response to the situation change of energy sector by international climate protection agreements and carbon emissions as well as the growing interest for companies' effort to ESG (Environment, Social, Governance) from stakeholders, we are strongly required to have long-term view particularly for the contribution to the sustainable society in corporate and business management.

Under such business circumstances, we formulated "Long-term Vision 2030" as our growth strategy toward 2030 and "Mid-term Business Plan" to determine our management direction and business priority for coming five years from fiscal 2018. To reach "Growth to the Integrated Energy Company Utilizing our Oil and Gas E&P and its Supply Basis" as our aspiration for 2030. We will promote three main business: "E&P business" in Japan and overseas as our main business, "Infrastructure and Utility Business" including electric power supply in addition of our domestic natural gas supply network, and "New Business Development" to gradually launch new businesses in non-E&P areas such as development of CCS(*2) technology and the renewable energy utilizing our E&P capabilities, and will continue to make efforts to transform itself into a lean and resilient corporation under the low oil price circumstance, to maintain corporate soundness, to enhance our corporate value, and to contribute for society.

We greatly appreciate your continued consideration and support for our business.

*1: Exploration and Production

*2: Carbon dioxide Capture and Storage