Idemitsu Kosan : (Corrections) Notice of Corrections to the Consolidated Financial Results for the Fiscal Year 2017

June 6, 2018

Press Release

Company Name: Idemitsu Kosan Co.,Ltd.

Representative Director & Chief Executive

Officer: Shunichi Kito

(Company Code: 5019, TSE, First Sect.)

Contact person:

Koji Tokumitsu, General Manager, Investor

Relations Office, Treasury Department

(TEL: [phone])

(Corrections)

Notice of Corrections to the Consolidated Financial Results for the Fiscal Year 2017

(From April 1, 2017 to March 31, 2018) [Japan GAAP]

Idemitsu Kosan Co.,Ltd. (hereinafter, "Idemitsu") hereby gives notice of corrections to the "Consolidated Financial Results for the Fiscal Year 2017" released on May 15, 2018. All corrections are underlined as stated below.

1.

Reason of corrections

Idemitsu has found errors in "4. Consolidated Financial Statements and Major Notes (3) Consolidated Statements of Changes in Net Assets."

2. Corrections

(1) Page 19 in Appendix

(3) Consolidated Statements of Changes in Net Assets (Before Corrections)

FY2017 (From April 1, 2017 to March 31, 2018)

(Unit: ¥Million)

Shareholders' equity
Common stock	Capital surplus	Retained earnings	Treasury stock	Total shareholders' equity
Balance at the beginning of current period	108,606	71,131	249,549	(131)	429,156
Changes of items during the period:
Issuance of new shares	59,744	59,744	119,489
Dividends from surplus	(12,316)	(12,316)
Net income attributable to owners of the parent	162,307	162,307
Change in scope of consolidation	1,881	1,881
Acquisitions of treasury stock	(1)	(1)
Adjustment due to sales and revaluation of land	2,324	2,324
Net changes of items other than shareholders' equity
Total changes of items during the period	59,744	59,744	154,195	(1)	273,683
Balance at the end of current period	168,351	140,875	403,745	(133)	702,839

(After Corrections)

FY2017 (From April 1, 2017 to March 31, 2018)

(Unit: ¥Million)

Shareholders' equity
Common stock	Capital surplus	Retained earnings	Treasury stock	Total shareholders' equity
Balance at the beginning of current period	108,606	71,131	249,549	(131)	429,156
Changes of items during the period:
Issuance of new shares	59,744	59,744	119,489
Dividends from surplus	(12,316)	(12,316)
Net income attributable to owners of the parent	162,307	162,307
Change in scope of consolidation	1,881	1,881
Acquisitions of treasury stock	(1)	(1)
Adjustment due to sales and revaluation of land	2,324	2,324
Net changes of items other than shareholders' equity
Total changes of items during the period	59,744	59,744	154,195	(1)	273,683
Balance at the end of current period	168,351	130,875	403,745	(133)	702,839