In order to anticipate future structural changes in the business environment for each of the energy, resources and materials industries, and to be successful amidst intensifying competition, the Companies will integrate their businesses for the purpose of further strengthening their management base and progressing under a new management philosophy, consequently leading to a stable and efficient supply of energy, resources and materials domestically and internationally.

1. The Companies will, on an equal footing, fully integrate their management functions across all business operations by combining the management resources of the Companies and utilizing their combined strength to the fullest extent possible. The Companies aim to become one of the world's leading integrated energy, resources and materials groups, operating in the areas of petroleum refining and marketing, oil and natural gas exploration and production, and metals.
2. The integrated group (the “Integrated Group”) will develop and pursue aggressive strategies for global growth, with efforts focused on maximizing corporate value by allocating management resources to operations offering the highest profitability under the concept of “Best Practices.”
3. The Integrated Group will undertake comprehensive restructuring at an early stage in the petroleum refining and marketing sector, which would not have been possible without the business integration.

Please refer to "Medium-Term Management Plan (from 2010 to 2012)/Long-Term Vision", which was announced on May 10, 2010.