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Press Release

Organization Restructuring

May 14, 2013
Cosmo Oil Co., Ltd.
Public Relations Office

Cosmo Oil Co., Ltd. (Head Office: Minato-ku, Tokyo / Paid in Capital: 107.2 bn JPY / President: Keizo Morikawa) announces execution of organization restructuring as at June 25, 2013. The details of it are as follows:

1.Purpose of Organization Restructuring

Cosmo Oil Group will execute organization restructuring which ensures safe and stable operation of its refineries, enhancement of risk management system, and improvement of profitability at each business unit to increase the extent of performance of the 5th Consolidated Medium-term Management Plan.

2.Overview of Organization Restructuring

It will introduce "Unit system" and reorganize total 23 departments including Purchasing Center, offices including branches, refineries etc., and affiliate companies on a business and function basis. Also, it will newly establish 8 units which enable it to clarify the responsibility for a role of planning and execution of strategies and profit on each business unit. Moreover, the coverage of executive officers in charge of business will be assigned on a unit basis.

The business units through the restructuring consists of "Risk Management Unit (*1)" aimed at whole company’s risk management including safety management of refineries, "Supply Business Unit (*2)" aimed at improvement of profitability, "Sales Business Unit", "Resources E&P Unit", "Project Development Business Unit", "Corporate Planning Unit" aimed at whole group’s optimization, "Corporate Management Unit", and "Technology & Research Unit."

*1 "Risk Management Unit", exercising a checking function in the whole group, consists of Refinery Safety Department specialized in safety management of refineries and CSR & Environmental Affair Department which executes centralized risk management.

*2 "Supply Business Unit" consists of 4 departments including newly established Supply Department, Production Technology Department, Petroleum Products Department, and existing Crude Oil & Tanker Department for the establishment of integrated supply chain from procurement of crude oil through petroleum refining.

*3 "Project Development Business Unit" consists of Petrochemical Business Department, Lubricants Business Department, Power & Gas Business Department, and ALA Business Department for ensuring consistent profit during the 5th Consolidated Medium-term Management Plan period and creating new business models for the long term perspective.

The details of the new organization are as follows:

Organization Chart

Organization Chart

*1 New department

*2 4 Outsourcing Companies: Cosmo Petro Service, Cosmo Techno Yokkaichi, Kansai Cosmo Delivery, Sakaide Cosmo Enterprises

*3 Petroleum E&P Companies: Abu Dhabi Oil, Qatar Petroleum Development, Cosmo Ashmore, United Petroleum Development, Uruma Resources Development

*4 Petrochemical Companies: Cosmo Matsuyama Oil, Maruzen Petrochemical Company, CM Aroma, Hyundai Cosmo Petrochemical

*5 Secretariat Office and Internal Audit Office are placed under direct control of the president.

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