Consolidated Balance Sheets

¥ million

	2007/03	2008/03	2009/03	2010/03	2011/03
Assets
I Current assets
1. Cash and deposits	194,278	204,596	117,393	119,809	112,395
2. Accounts receivable-trade	81,954	120,948	73,540	88,364	95,391
3. Marketable securities	55,586	115,730	149,507	213,040	207,165
4. Inventories	13,254	19,716	18,205	12,322	12,137
5. Deferred tax assets	17,242	11,236	6,144	5,355	9,450
6. Accounts receivable-other	81,688	83,436	37,871	43,160	57,032
7. Other	30,129	9,504	8,474	10,824	12,500
8. Allowance for doubtful accounts	-11	-58	-28	-22	-13,141
Total current assets	474,123	565,110	411,110	492,854	492,932
II Fixed assets
1. Tangible fixed assets
(1) Buildings and structures	103,091	112,291	101,732	127,599	118,054
(2) Wells	17,597	19,893	22,008	18,193	28,604
(3) Machinery, equipment and vehicles	44,356	49,001	47,352	45,728	58,227
(4) Land	28,310	28,386	20,752	20,789	20,707
(5) Construction in progress	22,505	28,720	76,818	91,447	75,077
(6) Other	3,366	16,187	28,971	54,335	79,189
Total tangible fixed assets	219,227	254,481	297,635	358,094	379,861
2. Intangible assets
(1) Goodwill	132,105	121,644	114,883	108,122	101,362
(2) Exploration and development rights	127,110	120,176	115,566	107,856	125,228
(3) Mining rights	4,364	18,843	18,592	18,154	17,554
(4) Other	2,240	4,815	4,638	5,070	4,966
Total intangible assets	265,821	265,480	253,680	239,205	249,110
3. Investments and other assets
(1) Investment securities	354,851	360,726	344,698	403,978	975,541
(2) Long-term loans receivable	3,388	9,361	14,195	18,641	13,979
(3) Recoverable accounts under production sharing	319,149	383,162	453,922	514,645	534,330
(4) Deferred tax assets	-	20,618	26,140	24,563	27,213
(5) Other	34,879	31,279	65,926	72,576	118,340
(6) Allowance for doubtful accounts	-1,869	-911	-528	-640	-270
(7) Allowance for recoverable accounts under production sharing	-51,190	-71,445	-87,828	-94,891	-96,879
(8) Allowance for investments in exploration	-10,273	-9,963	-10,907	-15,248	-13,780
Total investments and other assets	648,934	722,827	805,618	923,624	1,558,474
Total fixed assets	1,133,982	1,242,789	1,356,934	1,520,923	2,187,447
Total assets	1,608,106	1,807,900	1,768,044	2,013,778	2,680,379
Liabilities
I Current liabilities
1. Accounts payable-trade	21,793	22,582	11,873	16,601	23,441
2. Short-term loans	50,649	19,274	27,816	4,872	4,441
3. Income taxes payable	85,143	131,523	70,419	86,534	113,101
4. Accounts payable-other	88,768	111,505	65,440	81,211	83,309
5. Provision for exploration projects	6,899	10,786	7,948	15,324	9,537
6. Accrued bonuses to officers	193	208	134	132	127
7. Asset retirement obligations	—	—	—	—	3,686
8. Other	12,799	29,404	22,427	23,228	17,083
Total current liabilities	266,247	325,285	206,059	227,905	254,728
II Long-term liabilities
1. Long-term debt	198,320	174,813	136,430	235,510	268,706
2. Deferred tax liabilities	38,994	44,296	28,171	27,139	36,517
3. Accrued retirement benefits to employees	8,371	8,645	8,545	7,585	6,979
4. Accrued retirement benefits to officers	1,712	475	—	—	—
5. Liabilities for site restoration and decommissioning costs	11,930	12,728	14,192	14,257	—
6. Liabilities for losses on development activities	1,964	1,964	1,964	1,964	—
7. Accrued special repair and maintenance	179	229	404	442	443
8. Asset retirement obligations	—	—	—	—	8,965
9. Other	370	649	10,216	8,369	6,655
Total long-term liabilities	261,843	243,802	199,924	295,269	328,268
Total liabilities	528,090	569,088	405,984	523,175	582,997
Net assets
I Shareholders' equity
1. Common stock	30,000	30,000	30,000	30,000	290,809
2. Capital surplus	418,491	418,493	418,477	418,477	679,287
3. Retained earnings	570,120	718,616	844,832	936,744	1,047,431
4. Treasury stock	-1,108	-2,215	-5,248	-5,248	-5,248
Total shareholders' equity	1,017,503	1,164,894	1,288,062	1,379,974	2,012,280
II Accumulated other comprehensive income
1. Unrealized holding gain (loss) on securities	9,348	-7,468	-6,817	12,351	1,455
2. Unrealized gain from hedging instruments	17	3	-0	—	—
3. Translation adjustments	2,025	-60	-10,121	-4,826	-16,847
Total accumulated other comprehensive income	11,391	-7,524	-16,939	7,525	-15,391
III Minority interests	51,121	81,442	90,938	103,103	100,493
Total net assets	1,080,016	1,238,812	1,362,060	1,490,603	2,097,382
Total liabilities and net assets	1,608,106	1,807,900	1,768,044	2,013,778	2,680,379

Consolidated total assets increased by ¥666.6 billion to ¥2,680.3 billion. Net assets increased by ¥606.7 billion, to ¥2,097.3 billion. Total shareholders’ equity increased by ¥632.3 billion, to ¥2,012.2 billion, of which common stock increased by ¥260.8 billion and capital surplus increased by ¥260.8 billion due to an issuance of new shares. As a result, Equity Ratio increased from 68.9% to 74.5%.

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