Idemitsu Kosan Co Ltd (5019.T)
Latest Key Developments (Source: Significant Developments)
Idemitsu Kosan's management to meet founding family as early as next week to discuss Showa Shell merger - Nikkei<5002.T><5019.T>
Nikkei: Idemitsu Kosan's management to meet founding family as early as next week to discuss latter's opposition to planned merger with Showa Shell Sekiyu - Nikkei . Full Article
Idemitsu Kosan Co <5019.T> founding family opposing merger with Showa Shell Sekiyu KK <5002.T>, has 33.92 percent stake - Kyodo Further company coverage:. Full Article
Idemitsu Kosan <5019.T>: Says it changes shares transaction date to middle September . Says it sets establishment date of new integrated company, at April 1, 2017 .Says plan disclosed on July 30, 2015 and Nov. 12, 2015. Full Article
Idemitsu Kosan lowers consolidated full-year outlook for FY 2016; says year-end dividend forecast not changed for FY 2016
Idemitsu Kosan Co Ltd:Says the company lowered the consolidated full-year outlook for revenue to 3,570,000 million yen from 3,750,000 million yen for FY ended March 2016.Sees a decrease of operating profit forecast to -19,500 million yen from 3,000 million yen.Sees a decrease of ordinary profit forecast to -21,500 million yen from 2,000 million yen.Sees a decrease of net profit forecast to -36,000 million yen from -13,000 million yen.Sees a decrease of earnings per share to -225.07 yen from -81.27 yen.Comments the decreased income due to low crude oil price and extraordinary loss are the main reasons for the forecast.Says year-end dividend forecast at 25 yen per share not changed for FY ending March 2016. Full Article
Idemitsu Kosan Co Ltd:Applies for setting up a fuel oil joint venture named Idemitsu Q8 Petroleum LLC in Vietnam with a Kuwayt-based company.The two companies to hold 50 pct stake respectively in the joint venture. Full Article
Idemitsu Kosan Co Ltd:Says to sign subordinated syndicated loan contract worth 100 bln yen on March 31.Says the loan with a term of 60 years.Proceeds to be used for stake acquisition. Full Article
Idemitsu Kosan Co Ltd:To establish joint venture in Osaka with Osaka Gas on April 1.The joint venture will be engaged in gas power generation.Says Idemitsu Kosan and Osaka Gas will hold a 33.34 pct stake and a 66.66 pct stake in the joint venture respectively. Full Article
Idemitsu Kosan Co Ltd:Says the company lowered the consolidated full-year outlook for the FY ending March 2016.Revenue forecast decreased to 3,750,000 million yen from 4,090,000 million yen.Operating profit forecast decreased to 3,000 million yen from 40,000 million yen.Ordinary profit forecast decreased to 2,000 million yen from 39,000 million yen.Net profit forecast decreased to a loss of 13,000 million yen from 28,000 million yen.Earnings per share decreased to a loss of 81.27 yen from 175.05 yen.Comments that decreased oil price and inventory write-downs are the main reasons for the forecast. Full Article
Formosa Petrochemical Corp:To use T$750 mln to set up JV with Idemitsu Kosan.To hold 50 pct stake in the JV. Full Article
Showa Shell Sekiyu signs execution of memorandum of understanding regarding business integration of Showa Shell Sekiyu K.K. and Idemitsu Kosan Co.,Ltd.
Showa Shell Sekiyu KK:Signed a Memorandum of Understanding for the Business Integration of SSSKK and Idemitsu based on the spirit of equal partnership.Set a merger as the basic structure of the Business Integration subject to further consideration and discussion, and will definitely agree on the method of the Business Integration. Full Article
TOKYO, July 11 Talks between Japan's Idemitsu Kosan Co and its founding family have failed to resolve an impasse over the oil refiner's proposal to buy rival Showa Shell Sekiyu KK, both sides said.