Stability Indices | INPEX CORPORATION

Net assets excluding minority interests,Equity ratio

Net assets excluding minority interests as a percentage of total assets were at 68.9%. Despite an increase in common stock, liabilities increased due to factors including a rise in new debt and deferred income taxes.

Interest debt,Net debt/Total capital employed (Net)

As of March 31, 2010, we maintain a high degree of stability, with our ratio of net interest-bearing liabilities as a percentage of net usable assets at negative 30.6%. While interest-bearing liabilities increased, we continued to hold more savings, government bonds and other assets for future investments.

Net assets excluding Minority interests = Net assets – Minority interests
Interest-bearing debt = Short-term borrowings + Long-term debt
Net debt =
(Interest-bearing debt – Cash and deposits – Public and corporate bonds and other debt securities (with determinablevalue) – MMF, Short-term bonds with repurchase agreements and Certificate of deposit)
Equity ratio = (Net assets – Minority interests) / Total assets
Current ratio = Current asset / Current liabilities
Fixed ratio = Fixed assets / (Net assets – Minority interests)
D/E Ratio = Interest-bearing debt / (Net assets – Minority interests)
Net debt / Total capital employed (Net) =
Net debt / (Net assets + Interest-bearing debt – Cash and deposits – Public and corporate bonds and other debt securities (with determinable value) – MMF, Short-term bonds with repurchase agreements and Certificate of deposit)

¥ million

Years ended March 31	2007	2008	2009	2010
Total assets	1,608,106	1,807,900	1,768,044	2,013,778
Net assets excluding minority Interests	1,028,894	1,157,370	1,271,122	1,387,499
Interest-bearing debt	248,969	194,087	164,246	240,382
Net debt	-169,664	-328,351	-324,108	-349,211
Equity ratio	64.0%	64.0%	71.9%	68.9%
Current ratio	178%	174%	200%	216%
Fixed ratio	110%	107%	107%	110%
D/E ratio	24.2%	16.8%	12.9%	17.3%
Net debt / Total capital employed (Net)	-18.6%	-36.1%	-31.2%	-30.6%

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