Worth reading
48Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
2.5
USD millionWording
Avoiding a definitive answer
How definitive the wording is.This transaction
This saleCounterpartyNEO NEXT+ ENERGY UPSTREAM UK LIMITED
Disclosing companySojitz Corporation
TimelineThe spacing between the points is proportional to the actual number of days.White points represent dates designated as scheduled dates in the document.
Target company
Oil and gas development business in the United Kingdom
Location London, United KingdomShare capital Before this capital increase: GBP 6.043 million (approximately JPY 1.29 billion); after this capital increase: GBP 83.452 million (approximately JPY 17.81 billion)Date of incorporation 2 February 2017
Net SalesRevenue of USD 3.3 million (fiscal year ending March 2026)
Net income for the current fiscal yearNet loss attributable to owners of the parent of USD 8.4 million (fiscal year ending March 2026)
Net assetsNegative net assets of USD 68.6 million (fiscal year ending March 2026)
Consideration and expenses
Acquisition priceThe basic transfer price is USD 2.5 million, with the final transfer price to be determined after price adjustments.
Type of ConsiderationCash
Impact on Business Performance
The impact of this matter on the Company’s results is immaterial.
Procedures and assumptions
Valuation methodologyPrice adjustment based on a closing accounts mechanism, reflecting the target company's cash and cash equivalents and working capital at closing
| Item | Details |
|---|---|
| Transaction name | This sale |
| Counterparty name | NEO NEXT+ ENERGY UPSTREAM UK LIMITED |
| Name of the Subject Company | Sojitz Energy Development Limited |
| Business Description of the Subject Company | Oil and gas development business in the United Kingdom |
| Location of the Subject Company | London, United Kingdom |
| Capital Stock of the Subject Company | Before this capital increase: GBP 6.043 million (approximately JPY 1.29 billion); after this capital increase: GBP 83.452 million (approximately JPY 17.81 billion) |
| Date of Establishment of the Subject Company | 2 February 2017 |
| Net Sales of the Subject Company | Revenue of USD 3.3 million (fiscal year ending March 2026) |
| Net Income of the Subject Company | Net loss attributable to owners of the parent of USD 8.4 million (fiscal year ending March 2026) |
| Net Assets of the Subject Company | Negative net assets of USD 68.6 million (fiscal year ending March 2026) |
| Acquisition price | The basic transfer price is USD 2.5 million, with the final transfer price to be determined after price adjustments. |
| Type of Consideration | Cash |
| Number of shares acquired | 83,452 shares (100% voting rights ownership) |
| Voting rights ownership percentage | Before 100% (after not disclosed) |
| Impact on Business Performance | The impact of this matter on the Company’s results is immaterial. |
| Date of board resolution | 24 June 2026 |
| Execution Date / Effective Date | June 2026 (予定) |
| Valuation methodology | Price adjustment based on a closing accounts mechanism, reflecting the target company's cash and cash equivalents and working capital at closing |
Items this document does not state (14)
Operating Profit of the Subject CompanyExpenses other than the acquisition priceMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Contract DateIndependent valuation institutionSpecial CommitteeConditions Precedent to ExecutionManagement structure after acquisition
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To sell all shares of SEDL as part of structural reforms.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.