The report highlights the company's ""Long-term Vision 2030"" and ""Mid-term Business Plan 2018-2022."" The report covers the company's financial and non-financial performance, its commitment to sustainable development, and its efforts to address climate change. JAPEX is committed to achieving a reserve replacement ratio (RRR) of 1 or higher over the medium-to-long term. In fiscal 2018, JAPEX made significant progress towards this goal, with its proved reserves increasing to 387 million barrels and its RRR reaching 5 on a single year basis. The company also made progress in its infrastructure and utility business, with the natural gas transaction volume in Japan reaching 1.6 million tons (LNG equivalent). The company's new business development efforts focused on the commercialization of carbon dioxide capture and storage (CCS), methane hydrate, and innovative technology for the exploration of deep sea resources. JAPEX also continued its commitment to climate change mitigation, reducing its greenhouse gas (GHG) emissions by 16.5% in fiscal 2018. The company's efforts to reduce GHG emissions include promoting energy saving, flaring emitted gas, and effectively utilizing excess low-pressure gas at in-house facilities.
