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ENEX REPORT 2016 · PDF file 2019-11-28 · ENEX REPORT 2016 Inquiries Corporate Communications Section E-mail: [email protected] Telephone: +81-3-6327-8003 ENEX REPORT 2016

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  • ENEX REPORT

    2016

    Inquiries Corporate Communications Section E-mail: [email protected] Telephone: +81-3-6327-8003

    EN EX

    R EP

    O R

    T 2 0

    1 6

  • Contents

    Report on Corporate and Business Activities

    The Enex Group

    Top Message

    Medium-term Business Plan

    Power & Gas Business Group

    Home-Life Division

    Power & Utility Division

    Distribution & Energy Innovation Business Group

    Car-Life Division

    Energy Innovation Division

    Entering a New Era of Global Enex

    2

    4

    6

    8

    10

    11

    12

    14

    15

    16

    Financial Report

    Overview of Fiscal 2015 Business Results

    Consolidated Statement of Financial Position

    Consolidated Statement of Comprehensive Income

    Consolidated Statement of Changes in Equity

    Consolidated Statement of Cash Flows

    Notes to Consolidated Financial Statements

    Independent Auditor’s Report

    40

    42

    44

    46

    47

    48

    103

    Corporate Profile

    Corporate Profile104

    Report on Societal and Environmental Activities

    CSR and Compliance-based Management Important social responsibilities

    Directors, Corporate Auditors and Executive Officers

    Corporate Governance

    Living in harmony with the environment [Eco-solutions of Itochu Enex]

    Advanced approach to environmental engineering

    Environmental Policy and Environmental Management

    Revitalize society and its residents [Harmonious coexistence with the local community and social contribution]

    Fostering the next generation

    Post-earthquake reconstruction and support for affected areas

    Sustained thoughts and actions

    Energy lifeline

    Aim at satisfying employees [Develop workplaces and people]

    Personnel system

    Education system

    Work–life balance

    Fairness and impartiality, safety and security

    18

    20

    22

    28

    32

    36

    Corporate Philosophy

    Field of Business

    The best partner for life and society —with Energy, with the Car, with the Home—

    Energy for all applications, whether as a key component of social infrastructure or as a means of enriching people's lives

    Since its establishment in 1961, the Itochu Enex Group has been broadly expanding

    its energy wholesale business operations drawing on its original business model, acting as “the best partner for life and society.”

    We aspire to operate as a dynamic partner that is an essential part of people’s everyday lives as we have been doing up to now, indefinitely in the years to come.

    Moreover, we are working to extend our operations to engage in new energy fields and overseas opportunities,

    in addressing changes in customer needs and the business environment.

    The Enex mark was introduced in October 2005 as the new corporate logo.

    The red background symbolizes the sun and the blue circle, the Earth.

    The letter “e” overlaps both to connect them.

    The “e” logo stands for “energy” and “eco,” as well as the importance of the “end-consumer.”

    In this way, the logo design expresses “people to people” communication

    and communication between “people and society.”

    About the Enex Trade mark

    ITOCHU ENEX CO., LTD. Annual Report 2016 1

  • Flow of energies delivered by the Enex Group to our customers

    Storage and management

    LPG tank Petroleum product tank

    Asphalt tank

    The Group’s power plants

    Power resources of nature

    Coal Wind power

    Hydraulic power Photovoltaic power

    Oil- producing countries

    Primary distributors,

    etc.

    LP Gas

    LPG sales points Directly operated stores

    Distributors Auto gas stations

    Households, restaurants, etc.

    Factories, business offices,

    etc.

    Local buildings, etc.

    Car-Life Stations (CS*3s)

    Dealers’ CSs Group companies’ CSs

    Ships

    Households

    Households, factories,

    business offices, etc.

    Manufactures

    Natural heat The Group’s heat supply

    centers

    Roads, etc.

    Factories, business offices,

    etc.

    Electronic power Thermal power

    Wind power Hydraulic power

    Photovoltaic power

    Gasoline Steam power

    Kerosene Photovoltaic power generation system

    Diesel oil Residential fuel cells

    Heat supply business*1

    Fuel oil Electricity storage system

    Contracted primary (heating/cooling)

    service*2

    Asphalt

    LNG

    *1 Heat supply business supplies cold and hot water for air conditioning to office buildings and multiple other buildings from a heat source plant using pipes.

    *2 Contracted primary (heating/cooling) service is a contract-based thermal storage service, under which heat source equipment is installed at individual buildings utilizing the know-how of heat supply businesses.

    *3 CS is an abbreviation for Car-Life Station; it refers to service stations delivering multiple services provided by Itochu Enex.

    Power & Gas Business Group Distribution & Energy Innovation Business Group

    The Enex Group

    Group Companies 66 Subsidiaries 44, Affiliates (covered by the equity method) 22

    Number of Employees

    6,096

    Total trading transactions

    1,071.6 billion yen (Japanese GAAP)

    Profit from operating activities

    16.4 billion yen (IFRS)

    Net profit attributable to Itochu Enex’s shareholders

    7.5 billion yen (IFRS)

    Head Office Address

    Toranomon Twin Building, 2-10-1, Toranomon, Minato-ku, Tokyo 105-8430, Japan

    Established January 28, 1961

    Representative Director, President and CEO

    Kenji Okada

    Paid-in Capital 19,877.67 million yen

    Stock exchange listing

    Tokyo (first section; stock name: ENEX) securities code: 8133

    Corporate Profile

    Itochu Enex Group

    Business Divisions

    ITOCHU ENEX CO., LTD.

    ENEX ELECTRIC POWER CO., LTD.

    TOKYO TOSHI SERVICE COMPANY

    OJI-ITOCHU ENEX POWER RETAILING CO., LTD.

    ENEX FLEET CO., LTD.

    ENEXAUTO CO., LTD.

    OSAKA CAR LIFE GROUP CO., LTD. (NISSAN OSAKA SALES CO., LTD.)

    TOHOKU TANKU SHOUKAI CO., LTD.

    ENEX PETROLEUM SALES HIGASHI-NIHON CO., LTD.

    ENEX PETROLEUM SALES NISHI-NIHON CO., LTD.

    KYUSHU ENERGY CO., LTD.

    KOKURA ENTERPRISE ENERGY CO., LTD.

    ITOCHU ENEX HOME-LIFE HOKKAIDO CO., LTD.

    ITOCHU ENEX HOME-LIFE TOHOKU CO., LTD.

    ITOCHU ENEX HOME-LIFE KANTO CO., LTD.

    ITOCHU ENEX HOME-LIFE CHUBU CO., LTD.

    ITOCHU ENEX HOME-LIFE KANSAI CO., LTD.

    ITOCHU ENEX HOME-LIFE NISHI-NIHON CO., LTD.

    ECORE CO., LTD.

    ITOCHU INDUSTRIAL GAS CO., LTD.

    PT. ITC ENEX INDONESIA

    Main Group Companies

    Home-Life Division We sell energy, including LP gas, kerosene and electricity, to 1.08 million households across Japan.

    Power & Utility Division We operate a vertically integrated electricity business, consisting of operations from generating electricity to balancing supply and demand and handling sales. We also operate local heat supply services.

    Car-Life Division We sell petroleum products and provide automobile- related services to consumers through approximately 2,000 Car-Life Stations (CS*). * CS is an abbreviation for Car-Life Station; it refers to service stations delivering

    multiple services to meet every car-life need.

    Energy Innovation Division We sell industrial-use energy and materials to corporate customers, consisting of approximately 3,500 business sites across Japan.

    (As of March 31, 2016)

    2 3ITOCHU ENEX CO., LTD. Annual Report 2016 ITOCHU ENEX CO., LTD. Annual Report 2016

  • Substantial changes are unfolding with respect to energy on a global scale. For instance, on the one hand we are faced with the prospect of depleting oil resources coupled with turbulent and erratic energy markets, while at the same time consumers are becoming increasingly aware of environmental issues as their lifestyles become ever more diverse. As such, inexorable changes are mounting amid a scenario where complicating factors are at play in terms of both supply and demand, as humankind undoubtedly embarks on a path that will give rise to society’s next generation of energy infrastructure which will be capable of delivering on overall needs including and beyond those involving the environment, stability, economic factors, convenience and comfort.

    Meanwhile, the roles and responsibilities of the Itochu Enex Group are greatly expanding. As an energy trading company that is forging its original business model, the Itochu Enex Group acts as a key player in the industry, capable of leveraging its capabilities amid a turbulent business environment, drawing on its extensive track record and know-how combined with its robust sales network. We are also breaking down existing business frameworks, boldly pursuing transformation and staying one step ahead of the new era as it unfolds, in order to keep achieving sustainable long- term growth going forward. This will entail creating new business ventures, generating new value and developing a new future ahead as we remain integrally involved in the distribution and eme

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