• JAPEX published transcript from April 23, 2026 new management plan briefing, held in-person and online, attended by 62 institutional investors and analysts.
• Management positioned US business as main driver of Overseas E&P targets, estimating about 70% of 100,000 boe/d production goal in FY2031, rising to 130,000-140,000 boe/d of 180,000 boe/d target in FY2035; US share of NOPAT projected at about 60% in FY2031 and 70% in FY2035.
• Growth investment plan for Overseas E&P set at JPY 1.1 trillion cumulatively by FY2035, including JPY 600 billion for US, slightly above JPY 200 billion for Norway, slightly above JPY 200 billion for Southeast Asia; US split seen at JPY 200 billion for further development of Verdad-held assets, JPY 400 billion for new assets.
• Carbon Neutral business outlook tied to Tomakomai CCS and US Dry Piney Project, with NOPAT estimated at JPY 20 billion in FY2031 and JPY 25 billion in FY2035, supported by cumulative growth investment of JPY 270 billion by FY2031 and JPY 300 billion by FY2035, contingent on final investment decisions.
• Shareholder returns policy review flagged around FY2030, with management citing achievement of 100,000 boe/d as key trigger; government stake described at about 38% with intent to keep structure broadly unchanged near term.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. JAPEX - Japan Petroleum Exploration Co. Ltd. published the original content used to generate this news brief on May 07, 2026, and is solely responsible for the information contained therein.