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| Agreement on Transfer of Marubeni Energy Shares |
| 10/09/2003 |
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Marubeni Corporation (MC hereafter, President/Representative Director: N. Katsumata) and Showa Shell Sekiyu KK (SSSKK hereafter, Chairman/Representative Director: H. Niimi) have agreed MC to transfer 33.4% of shares of a new entity of Marubeni Energy (New ME hereafter) to SSSKK aiming to maximize corporate value of New ME through accelerating restructuring activities. The new entity will be established as an oil business specialized company after Marubeni Energy, currently a fully-owned subsidiary of MC, splitting its business into LPG and oil business.
Transfer of shares will take place in January 2004 subsequent to the ME business split to be completed in December 2003.
LPG business portion after the split will continue its profit enhancement programme for further reinforcement of business platform.
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| Profile of Marubeni Energy |
Head Office Location :
Capital :
Proceed :
Number of Employees :
Number of Retail Sites : |
2-2 Surugadai, Kanda, Chiyoda-ku, Tokyo JAPAN
2.8 billion JPY (23 million USD, as of August 2003)
363.7 billion JPY (3 billion USD, FY 2002)
292 (as of March 2003)
736 (as of March 2003)
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| Contacts |
Honda
Marubeni Corporation Public Affairs Division: +81-3-3282-4800
T. Nakamura
Showa Shell Sekiyu Public Affairs Division: +81-3-5531-5591
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| 2003 Press Release Index |
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