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 ...
Idemitsu and Showa Shell merger gets approval from antitrust regulators at home and abroad
Major oil refiners Idemitsu Kosan Co. and Showa Shell Sekiyu K.K. said Wednesday their planned merger has been approved by all relevant antitrust authorities at home and abroad, moving them closer to consolidation on April 1. An Idemitsu spokesman said the Japan Fair Trade Commission ...
Idemitsu chief Shunichi Kito to head new firm after merger with rival Showa Shell
The company to be formed through a merger between major oil refiners Idemitsu Kosan Co. and Showa Shell Sekiyu K.K. will be led by Idemitsu President Shunichi Kito, company sources said Tuesday. Idemitsu Chairman Takashi Tsukioka and Showa Shell President Tsuyoshi Kameoka will become board ...
Yoshiaki Murakami, who once struck fear into Japan's boardrooms and split public opinion with bitter activist battles, is now enjoying rare acclaim from executives and being praised as a peacemaker. Murakami, an outspoken champion of shareholder rights before his conviction for insider trading, has emerged ...
Japanese refiner Idemitsu wins family backing for Showa Shell merger
The two oil refiners said Tuesday they have agreed to merge April 1, after Idemitsu’s founding family dropped its long-standing opposition to the plan.
Fewer shareholders meetings held on traditional peak day at government behest
A third of the nation's listed companies held their annual shareholders meetings on the peak day Thursday, but the ratio was the lowest ever amid government calls to spread the gatherings apart to promote greater investor participation. Companies are also facing higher pressure to better ...
Idemitsu scion's defiance imperils $1.7 billion refinery merger
In Japan's carefully choreographed corporate world, public power struggles are generally frowned upon. Shosuke Idemitsu, 89, apparently doesn't roll that way. At an Idemitsu Kosan Co. shareholder meeting in June, investors were expected to vote in favor of reappointing directors who support the government-backed, $1.7 ...
Shell to sell Japan refiner stake for ¥169 billion to Idemitsu
Royal Dutch Shell also announced it plans to cut 6,500 jobs this year and reduce capital investment by $7 billion as it prepares for a "prolonged downturn."
Ten companies including Idemitsu Kosan Co. and Japan Petroleum Exploration Co. will kick off a study this month on building one of Japan's largest geothermal power plants, government officials said Friday. The plant, to be built in a national park in Fukushima Prefecture, would have ...
