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Press Release

Notice on Executive Team for Integrated LP Gas
Import and Wholesale Company

November 27, 2014
Cosmo Oil Co., Ltd.
Showa Shell Sekiyu K.K.
Sumitomo Corporation
TonenGeneral Sekiyu K.K.

Cosmo Oil Co., Ltd. ("Cosmo Oil"; Keizo Morikawa, President), Showa Shell Sekiyu K.K. ("Showa Shell"; Shigeya Kato, Chairman/Group CEO), Sumitomo Corporation (Kuniharu Nakamura, President), and TonenGeneral Sekiyu K.K. ("TonenGeneral"; Jun Mutoh, President) have concluded an integration agreement (see earlier notice dated August 5, 2014) under which the four corporate groups will carry out absorption-type spin-offs of their LP gas import and wholesale operations and prepare to integrate these businesses on April 1, 2015, with Cosmo Petroleum Gas Co., Ltd.(a wholly-owned subsidiary of Cosmo Oil) as the receiving company. The four full-time directors of this integrated company have now been informally selected, and this notice provides their names as well as a list of the company's principal business offices and the future schedule for integration.

It should be noted that this business integration is contingent on approval from the relevant authorities.

1. Full-time directors

Title Name Current position
President and Representative Director Kazunori Yamamoto President, Enessance Holdings Co., Ltd.
Executive Vice President and Director
(in charge of overseas/supply operations)
Shigeki Nara Assistant to General Manager, Energy Division, Sumitomo Corporation
Executive Vice President and Director
(in charge of sales operations)
Toshiyuki Yokota Executive Officer, Crude & Product Trading Manager, Supply & Trading, TonenGeneral Sekiyu K.K.
Executive Vice President and Director
(in charge of administrative operations)
Yoshihiro Masuda Director and Head, Integration Task Force, Cosmo Petroleum Gas Co., Ltd.

In addition to the above directors, four other (part-time) directors, one full-time corporate auditor, and three other corporate auditors are to be appointed (these appointments will be announced at a later date).

2. Principal offices (planned)

Head office and sales locations Head Office : Tokyo
Sales locations : Sendai, Tokyo, Nagoya, Osaka, Takamatsu, Fukuoka, Naha
Seven LP gas import terminals Kashima, Chiba, Kawasaki, Hekinan (Aichi Prefecture), Yokkaichi, Sakai, Oita
Four LP gas secondary terminals Shimizu, Sakaide, Matsuyama, Hiroshima

3. Future schedule

Conclusion of agreements on absorption-type company splits
Dec 2014 - Jan 2015 (tentative)
Effective date of business integration
Apr 1, 2015 (tentative)

Appendix (1): Career summaries for four full-time directors

Kazunori Yamamoto

Age 63
1974
2004
2006


2007


2011
Joined Shell Sekiyu K.K. (now Showa Shell Sekiyu K.K.)
General Manager, Oil Tanker Division, Showa Shell Sekiyu K.K.
Executive Officer for Maritime Shipping, General Manager, Oil Tanker Division, and General Manager, Product Trade Division, Showa Shell Sekiyu K.K.
Managing Executive Officer for Maritime Shipping, General Manager, Oil Tanker Division, and General Manager, Product Trade Division, Showa Shell Sekiyu K.K.
President, Enessance Holdings Co., Ltd.
Shigeki Nara

Age 60
1978
2003

2006

2008

2012

2014
Joined Sumitomo Corporation
Director and General Manager, Corporate Management Division, Sumisho LPG Holdings Co., Ltd.
Director and General Manager, Administration Division, LNG Japan Corporation
General Manager, LPG Business Department, Energy Division, Sumitomo Corporation
General Manager, Energy Trade Department, Energy Division, Sumitomo Corporation
Assistant to General Manager, Energy Division, Sumitomo Corporation
Toshiyuki Yokota

Age 59
1980
2001

2004
2005

2012
Joined Mobil Sekiyu K.K. (now EMG Marketing Godo Kaisha)
Product Supply Coordination Division Manager, Product Coordination Dept., TonenGeneral Sekiyu K.K.
Manager, Product Trading Dept., TonenGeneral Sekiyu K.K.
Operations Manager, Industrial & Wholesales, Fuels Marketing, ExxonMobil Yugen Kaisha (now EMG Marketing Godo Kaisha)
Executive Officer, Crude & Product Trading Manager, Supply & Trading, TonenGeneral Sekiyu K.K.
Yoshihiro Masuda

Age 54
1983
2011
2013

2014
Joined Daikyo Oil Co., Ltd. (now Cosmo Oil Co., Ltd.)
General Manager, Planning Division, Cosmo Petroleum Gas Co., Ltd.
Director and General Manager, Supply Division, Cosmo Petroleum Gas Co., Ltd.
Director and Head, Integration Task Force, Cosmo Petroleum Gas Co., Ltd.

Appendix (2): Profile of integrated import and wholesale company (tentative)

Description of business Manufacture, storage, transport, sale and import/export of LP gas
Capital 11 billion yen
Settlement period December
Shareholders and ownership Cosmo Oil Co., Ltd. (25%), Showa Shell Sekiyu K.K. (25%),Sumitomo Corporation (25%), TonenGeneral Sekiyu K.K. (25%)
Sales revenue Approx. 450 billion yen
Domestic sales volume
(excluding LPG used as electric power
and raw material)
Approx. 3.7 million tons
Import volume Approx. 2.8 million tons
Overseas trading volume Approx. 1 million tons
Principal subsidiaries and affiliates Yokkaichi LPG Terminal Co., Ltd.
Kashima LPG Joint Stockpiling Co, Ltd.
Oita LPG Joint Stockpiling Co., Ltd.
Hiroshima LPG Terminal Co., Ltd.
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