• Kyodo

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The Fair Trade Commission has approved the merger of Japan’s largest oil refiner, JX Holdings Inc., and third-ranked TonenGeneral Sekiyu K.K.

The commission also allowed Idemitsu Kosan Co., the second-biggest oil refiner, to buy shares in fifth-ranked Showa Shell from Royal Dutch Shell PLC. The two companies are seeking a merger, but Idemitsu’s founding family remains opposed to the plan.

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