Showa Shell Sekiyu KK (5002.T)
23 Apr 2018
Mon, Apr 2 2018
TOKYO, April 2 Japan's Showa Shell Sekiyu KK said on Monday its group refineries would refine 1 percent less crude for the local market in April-June compared with a year ago, in line with their outlook for domestic demand.
* Japanese oil refiners Idemitsu Kosan and Showa Shell Sekiyu have started work to integrate the so-called loading programmes through which they purchase crude, Idemitsu's CEO said
* Japanese refiners Idemitsu Kosan and Showa Shell Sekiyu said on Friday they expect to cost cuts by 8 billion yen ($71 million) in the first year of their business alliance that started last April
TOKYO Japanese refiners Idemitsu Kosan and Showa Shell Sekiyu will combine management of their key businesses, an Idemitsu spokesman said on Tuesday, pursuing a merger bitterly opposed by a core investor - Idemitsu's founding family.
* Merger plan opposed by Idemitsu's founding family (Adds comment, detail)
* Descendants of founder opposed to takeover of Showa Shell (Adds details)
* Descendants of founder still opposed to Showa Shell takeover (Adds comment, detail)
* Sees FY 2017 net profit to decrease by 20 percent to increase by 20 percent, or to be 164.6 million yuan to 246.9 million yuan