Key Developments: Idemitsu Kosan Co Ltd (5019.T)

5019.T on Tokyo Stock Exchange

1,985JPY
27 Jan 2015
Change (% chg)

¥25 (+1.28%)
Prev Close
¥1,960
Open
¥1,970
Day's High
¥1,988
Day's Low
¥1,959
Volume
551,000
Avg. Vol
815,005
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¥2,371
52-wk Low
¥1,890

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Latest Key Developments (Source: Significant Developments)

Idemitsu Kosan to merge with wholly owned subsidiary
Tuesday, 16 Dec 2014 01:00am EST 

Idemitsu Kosan Co Ltd:To merge with a wholly owned subsidiary Idemitsu Oil & Gas Co., Ltd., which has been engaged in research, exploration and development of oil resources, effective April 1, 2015.The company to be surviving company and Idemitsu Oil & Gas to be dissolved.  Full Article

Idemitsu Kosan Co Ltd acquires additional stake in PT Mitrabara Adiperdana
Tuesday, 11 Nov 2014 02:30am EST 

Idemitsu Kosan Co Ltd:Acquired additional 18 pct stake in PT Mitrabara Adiperdana on Nov. 11.Says increased holding stake in PT Mitrabara Adiperdana to 30 pct.  Full Article

Idemitsu Kosan lowers full-year consolidated revenue outlook and reaffirms annual dividend forecast for FY 2015
Tuesday, 4 Nov 2014 01:00am EST 

Idemitsu Kosan Co Ltd:Full-year consolidated outlook for revenue of 5,000,000 mln yen lowered from 5,140,000 mln yen, for fiscal year ending March 31, 2015.Full-year operating profit outlook of 67,000 mln yen lowered from 80,000 mln yen.Full-year ordinary profit outlook of 71,000 mln yen lowered from 76,000 mln yen.Full-year net profit outlook of 30,000 mln yen.Full-year earnings per share outlook of 187.55 yen.Outlook lowered due to decreased oil price and loss on valuation of inventories.FY 2015 revenue of 5,103,330 mln yen and net income of 32,000 mln yen - Thomson Reuters I/B/E/S.Reaffirmed annual dividend forecast of 50 yen per share, for 2015.  Full Article

Idemitsu Kosan Co Ltd sub-subsidiary to transfer interest in Boggabri Coal Mine
Monday, 18 Aug 2014 02:30am EDT 

Idemitsu Kosan Co Ltd:Says sub-subsidiary Boggabri Coal Pty Ltd to transfer 10 pct interest in a New South Wales-based mine Boggabri Coal Mine, to Chugoku Electric Power Australia Resources Pty. Ltd, a wholly owned Australian subsidiary of Chugoku Electric Power Co., Inc.Boggabri Coal Pty Ltd is wholly owned subsidiary of Idemitsu Australia Resources which is a wholly owned subsidiary of Idemitsu.Says the transaction includes an agreement with Chugoku of a long-term coal sale from the mine.  Full Article

Idemitsu Kosan Co Ltd to issue 4th series unsecured corporate bonds
Monday, 28 Jul 2014 10:00pm EDT 

Idemitsu Kosan Co Ltd:To issue 4th series unsecured corporate bonds worth 20,000 million yen through public offering.Face value of 100 million yen and issue price at 100 yen per face value of 100 yen.Interest rate of 0.541 pct.Maturity on Aug. 4, 2021.Subscription date on July 29 and payment date on Aug. 4.Proceeds to be used to acquire properties.Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.,SMBC Nikko Securities Inc., Daiwa Securities Co.Ltd. and Mizuho Securities Co., Ltd. as underwriters.  Full Article

Idemitsu Kosan Co Ltd increased stake in PT Mitrabara Adiperdana
Thursday, 10 Jul 2014 03:30am EDT 

Idemitsu Kosan Co Ltd:Announces increased 12 pct stake in PT Mitrabara Adiperdana on July 10.Says PT Mitrabara Adiperdana based in Indonesia, has been engaged in coal production business.  Full Article

OSAKA ORGANIC CHEMICAL INDUSTRY to buy business from Idemitsu Kosan
Wednesday, 7 May 2014 02:10am EDT 

OSAKA ORGANIC CHEMICAL INDUSTRY LTD:To buy adamantane derivative business from Idemitsu Kosan.Transaction date May 31.Transaction amount 1.2 bln yen.  Full Article

Idemitsu Kosan Co Ltd and AltaGas Ltd acquires interest in Petrogas through joint venture
Sunday, 2 Mar 2014 11:00pm EST 

Idemitsu Kosan Co Ltd:Says it has acquired two-thirds of all outstanding shares of Petrogas Energy Corp through AltaGas Idemitsu Joint Venture Limited Partnership, a 50-50 joint venture between Idemitsu and AltaGas Ltd, on March 1.Other details were disclosed on Oct. 25, 2013.  Full Article

Idemitsu Kosan Co Ltd expects extraordinary loss for Q3 of FY 2014
Tuesday, 4 Feb 2014 01:00am EST 

Idemitsu Kosan Co Ltd:Sees extraordinary loss of approximately 14.5 billion yen on impairment loss of oil field production equipment, for the third quarter of fiscal year ending Mar. 31, 2014.  Full Article

Idemitsu Kosan Co Ltd and group of oil, gas companies join seismic acquisition project in Barents Sea
Monday, 9 Dec 2013 07:00pm EST 

Statoil ASA:Says a group comprised of 17 oil and gas companies has established a project for joint seismic acquisition in the southeastern Barents Sea and Statoil is the operator of the project.Says the companies taking part from the beginning are BP Plc, Chevron Corp, ConocoPhillips, Det norske oljeselskap ASA, Eni SpA, GDF Suez SA, Idemitsu Kosan Co Ltd, NK Lukoil OAO, Lundin Petroleum AB, Norske Shell, PGNiG, Repsol SA, Spike, Statoil, Suncor Energy Inc, VNG and Wintershall.Says at the request of the Norwegian Ministry of Petroleum and Energy (MPE), the industry, via the Norwegian Oil and Gas Association, has taken the initiative to jointly acquire seismic 3D data from the blocks in the southeastern Barents Sea.Says the blocks will be announced in the 23rd licensing round for the Norwegian continental shelf (NCS) in 2014.Says this is the first new area on the NCS to be opened since 1994.Says 30 companies showed interest in participating in such a collaboration.Says when the authorities circulate the 23rd round nominated blocks for public consultation, other oil companies will get a new opportunity to engage in the project.Says it is expected that several companies will make use of this offer.Says the project will immediately initiate a tender process for the seismic acquisition.Says the plan is for the seismic surveys to start in Apr. 2014 and conclude in the autumn of the same year.  Full Article

Japanese refining merger talks could spur more consolidation

TOKYO, Dec 23 - Japan is facing a refining sector overhaul as its population ages and shrinks and the economy shifts from oil to gas, resulting in oil demand falling 2-3 percent a year.

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