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New Japanese oil giant created with Idemitsu-Showa Shell merger

Business / Corporate Apr 1, 2019

New Japanese oil giant created with Idemitsu-Showa Shell merger

Idemitsu Kosan Co., Japan's second-largest oil wholesaler, and fourth-ranked Showa Shell Sekiyu K.K. merged Monday, creating a new oil giant to better compete in increasingly challenging market conditions amid falling demand for gasoline. The new company, with combined sales of over ¥5 trillion, is set ...