Cosmo Oil Co., Ltd. (Head Office: Minato-ku, Tokyo / Paid in Capital: 107.2 bn JPY / President: Keizo Morikawa) announces the agreement with Sojitz Corporation (hereinafter Sojitz) on the acquisition of shares for Sojitz Energy Corporation (hereinafter Sojitz Energy) as follows:
1. Purpose of Acquisition
Cosmo Oil is a fully integrated oil company with strong presence from E&P to refining & marketing, and aims to further strengthen the competitiveness of its domestic sales by expanding the group network through the acquisition of Sojitz Energy.
The numerous procurement sources, loyal customers, talented personnel and know-how of Sojitz Energy, will all strongly contribute to Cosmo Oil's domestic marketing strategy, and furthermore, create significant synergies in our supply stability and logistics network.
At the same time, the 4 million "Cosmo the Card" credit card members will benefit from the additional support of the service station networks under the highly respected Cosmo Oil brand image.
2. Outline of Sojitz Energy
| Name | Sojitz Energy Corporation |
|---|---|
| Representative | Sadao Ezaki (Representative Director, President) |
| Address | Akasaka 2-14-32, Minato-ku, Tokyo |
| Foundation Date | March 1958 |
| Main Business | Marketing of Petroleum Products |
| Fiscal Term | March |
| Employees | 344 (as of end October 2012) |
| Main Branch Offices | Sendai, Nagoya, Osaka |
| Paid in Capital | 500 million JPY |
| Issued Shares | 7,938,000 shares |
| Major Shareholder | Sojitz Corporation 97.08% |
| Relation with Cosmo Oil |
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3. Outline of Sojitz Corporation
| Name | Sojitz Corporation |
|---|---|
| Representative | Yoji Sato (Representative Director, President & CEO) |
| Head Office | Uchisaiwai-cho 2-1-1, Chiyoda-ku, Tokyo |
| Main Business | Various Wholesales |
4. Shares to be Acquired
| Shares currently held by Cosmo Oil | 12,000 shares (0.15% of Sojitz Energy) |
|---|---|
| Shares to be acquired | 7,706,000 shares |
| Shares after transaction complete | 7,718,000 shares (97.23% of Sojitz Energy) |
