Key Developments: Marubeni Corp (8002.T)
14 Mar 2014
Latest Key Developments (Source: Significant Developments)
Marubeni Corp:Executed a Memorandum of Understanding (MOU) with PT. Pertamina (Persero), an Indonesian state-owned oil and gas company, regarding cooperation for a new gas-fired IPP and gas related infrastructure business (the Project) in Indonesia on Feb. 19.The two companies will collectively perform a comprehensive feasibility study for the Project, including assessment of the gas-fired power plant and gas related infrastructure.Marubeni and Pertamina’s plan is for the sponsors to establish a value chain flow from the upstream of gas exploration and production, to midstream of gas transmission and storage, and downstream of power generation. Full Article
Marubeni Corp and Nomura Research Institute Ltd:Entered into an agreement of equity and business alliances on Feb. 14, regarding joint business operations of Marubeni’s new subsidiary Marubeni IT Solutions Inc. (New Co.) in the IT services sector.Marubeni Information Systems Co., Ltd. (MSYS), a wholly owned subsidiary of Marubeni Corp, will split its current IT solutions businesses by allocating its system development and enhancement businesses to New Co. on April 1.New Co. will distribute 20 pct of new shares to Nomura Research Institute (NRI) in April, and be a joint venture company by and among Marubeni, NRI and MSYS.The New Co. will be engaged in system planning, design and development, system integration, software and hardware sales business in Tokyo, capitalized at 410 mln yen.Marubeni, MSYS and NRI will hold 46 pct, 34 pct and 20 pct respectively in the joint venture. Full Article
Marubeni Corp:Sees full-year consolidated outlook for revenue of 13,500 billion yen lowered from 13,700 billion yen, for fiscal year 2014.Sees full-year operating profit of 155 billion yen lowered from 170 billion yen.Sees full-year pre-tax profit of 250 billion yen lowered from 270 billion yen.Sees full-year net profit of 210 billion yen.FY 2014 revenue of 13,476.84 billion yen, operating profit of 174.17 billion yen and net profit of 212.76 billion yen - Thomson Reuters I/B/E/S. Full Article
NISSHIN SEIFUN GROUP INC to establish joint venture with Marubeni Corp and Nuh’un Ankara Makarnasi Sanayi Ve Ticaret A.S.
Marubeni Corp:NISSHIN SEIFUN GROUP INC will establish a joint venture with NISSHIN SEIFUN GROUP's subsidiary, Marubeni Corp and Nuh’un Ankara Makarnasi Sanayi Ve Ticaret A.S.The joint venture, Nisshin Seifun Turkey Makarna Ve Gida Sanayi Ve Ticaret A.S., will be engaged in manufacturing and sales of dried pasta, in Turkey.NISSHIN SEIFUN GROUP INC, NISSHIN SEIFUN GROUP INC's subsidiary, Marubeni Corp and Nuh’un Ankara Makarnasi Sanayi Ve Ticaret A.S. will hold 3 pct, 48 pct, 25 pct and 24 pct stakes in the joint venture, respectively. Full Article
Marubeni Corp:Says it resolved to spin off the operation of its wholly owned subsidiary, Marubeni Access Solutions, Inc. (MAS) into a newly established company (MAS Holdings, Co., Ltd.).Says the spin off effective Jan. 31, 2014.Says it will merge MAS, which will be wholly owned subsidiary of newly established company, with UCOM Corporation (UCOM) effective as of Feb. 1, 2014. Full Article
EnerNOC Inc:Enters into agreement with Marubeni Corp to form a joint venture (JV) to provide demand response (DR) in Japan.Says the new company will be named EnerNOC Japan, KK and will have an exclusive license to market EnerNOC's DemandSMARTTM cloud-based DR application throughout the country.Says the two firms also announced their award of a government-sponsored DR program with the Tokyo Electric Power Company (TEPCO), Japan's largest utility. Full Article
Marubeni Corp announced that it has affirmed the financial guidance for net profit attributed to shareholders of JPY 210 billion for the fiscal year ending March 2014. According to I/B/E/S Estimates, analysts on average were expecting the Company to report full-year revenue of JPY 13,493.84 billion and net income of JPY 215.85 billion for the fiscal year ending March 2014. Full Article
Nikkei reported that Marubeni Corp will join hands with Belgian chemical group Solvay SA to install cogeneration systems at plants owned by companies in the steel, chemical, and paper and pulp industries, among others. The duo will set up a joint venture as early as this month in Paris alongside the Caisse des Depots group, a government-backed French financial institution, with each holding a 33.3% interest. Marubeni and Solvay also plan to establish a second venture in Asia by summer 2014. The location of the latter has yet to be determined, but another Japanese firm with equipment design and management know-how may be brought into the process. Full Article
Daiei Inc announced that the settlement date for the takeover bid launched by Aeon Co Ltd will be August 27, 2013. Accordingly, Aeon Co Ltd. will become the top shareholder of Daiei Inc, with voting rights increasing from 19.89% to 44.24%. Marubeni Corp will become the second major shareholder of Daiei Inc, with voting rights decreasing from 29.34% to 5.00%. Full Article
GDF Suez SA Establishes 50/50 Joint Venture with MARUBENI Corp by Selling Its 50% Stake in Thermal and Renewable Power Generation Assets in Portugal
GDF Suez SA announced that it has signed a strategic-partnership agreement with the Japanese company MARUBENI Corp with the sale of a 50% stake in its portfolio of thermal and renewable power generation assets in Portugal, representing total installed capacity of 3,300 MW1. The Company will keep a 50% share in the joint venture established by the agreement and along with its new partner will continue to operate and take care of the operational maintenance of the assets. The portfolio is made up of a balanced set of coal- and gas-fired thermal power plants with a capacity of 2,400 MW and renewable assets with a capacity of 900 MW. Full Article
TOKYO, March 13 - Chinese trader COFCO Corp's move to grab control of two overseas grains operations in the space of a week threatens to limit the benefits Japan's Marubeni Corp hoped to reap in the world's largest food market.