AltaGas - Calgary

Altagas Headquarters Idemitsu Kosan Co., Ltd., Altagas Co., Ltd., and Petrogas Energy Co., Ltd. are contracted to acquire two-thirds of the issued shares of Petrogas by AltaGas Idemitsu Joint Venture Limited Partnership AIJVLP, a joint venture between the Company and Altagas. Was concluded. In the fourth consolidated medium-term management plan (FY2013-2015), we have entered the gas business in order to diversify energy sources and strive for a stable supply of energy. It was raised to consider. Under this policy, we are investigating the possibility of joint export and sales of Canadian LNG (liquefied natural gas) and LPG (liquefied petroleum gas) to Asia through a joint venture with Altagas. Petrogas was established in Calgary, Canada in 1986, and is a major industry company with NGL (natural gas liquid) / LPG and crude oil marketing, logistics, storage and transportation mainly in Western Canada and the United States. This time, the capital relationship with Petrogas will allow us to consider Altagas' LPG production facilities, Petrogas's collection / storage / distribution facilities such as railway wagons, and our sales network. In addition to contributing to the realization of the LPG export business being promoted, we believe that it will create synergies in our existing businesses, such as creating opportunities to export crude oil and petroleum products to Japan and rapidly growing Asia. In addition to profits derived from Petrogas' existing businesses, further revenue contributions are expected due to growing NGL and crude oil transportation needs in North America. Altagas completed the acquisition of one-fourth of the issued shares of Petrogas on October 1, 2013, and this time AIJVLP will acquire two-thirds of the shares of Petrogas including the acquisition. The The Company's burden is expected to be approximately 440 million Canadian dollars (approximately 42 billion yen). This capital participation is expected to lead to the advancement of our goal of contributing to the national interests of Japan and Canada by supplying stable and economical Canadian energy resources to Japan and Asia. The The trading advisor of AIJVLP for this transaction is TD Securities Inc.