Becoming a new energy company through management integration with 昭和シェル石油
First written in FY2016. 4 of 16 entries say "Advanced", first in FY2019-Q1. Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026AchievedAnnual report
「In July 2025, RS Energy Co., Ltd. was absorbed and merged, with Idemitsu Kosan Co.,Ltd. as the surviving company.」
The absorption-type merger of RS Energy, which had succeeded to 昭和シェル石油, was carried out in July 2025, further completing the legal integration following the management integration. - FY2025AchievedAnnual report
「After approximately 5 years of PMI activities, we will bring them to a substantive and formal close and make a new start.」
The document states that the approximately 5-year PMI activities following the management integration with 昭和シェル reached the stage of being brought to a close through the introduction of new action guidelines and the renewal of personnel systems. - FY2020AdvancedAnnual report
「We will achieve ¥60 billion in synergies from the management integration by the end of fiscal 2021. Of this amount, ¥35 billion had already been achieved by the end of fiscal 2019. The remaining ¥25 billion will be achieved by fiscal 2021 through measures including the integration of branding initiatives, a review of sales strategies, optimisation of refining costs and operational efficiency improvements through the promotion of the DTK ("Let's do this") project, while also pursuing the creation of further synergies.」
Of the ¥60 billion in integration synergies, ¥35 billion was achieved by the end of fiscal 2019, and the measures and deadline for the remaining ¥25 billion were specified. - FY2020-Q2RestatedAnnual report
「The purpose is to transfer to the Company, through the absorption-type company split, the assets, liabilities, rights and obligations belonging to all of 昭和シェル's businesses that are specified in the absorption-type company split agreement, integrate the organisations and businesses of the two companies, advance the management integration and pursue further synergies.」
The purpose of the simplified absorption-type company split, with 1 July 2019 as the business combination date, was reaffirmed as the transfer of 昭和シェル's businesses, integration of the organisations and businesses, and creation of additional synergies. - FY2020-Q1AdvancedAnnual report
「The purpose of the absorption-type company split is to transfer to the Company the assets, liabilities, rights and obligations of 昭和シェル, integrate the organisations and businesses of the two companies, advance their management integration and create further synergies.」
An absorption-type company split with an effective date of 1 July 2019 was implemented, transferring all of 昭和シェル's businesses and advancing the integration of the organisations and businesses and the creation of additional synergies. - FY2019AchievedAnnual report
「The agreement was approved at extraordinary shareholders' meetings of the Company and 昭和シェル held on 18 December 2018 and became effective on 1 April 2019.」
The management integration through a share exchange with 昭和シェル became effective on 1 April 2019, progressing from the planning and approval stages to implementation. The companies also entered into an absorption-type company split agreement with 1 July 2019 as the effective date, indicating plans to continue integrating their organisations and businesses. - FY2019-Q3AdvancedAnnual report
「By 12 December 2018, all approvals from the relevant government authorities and other bodies had been obtained, and the share exchange agreement was approved at extraordinary shareholders' meetings held separately by the two companies on 18 December 2018.」
The management integration with 昭和シェル progressed from execution of the share exchange agreement to completion of approvals from the relevant government authorities and the extraordinary shareholders' meetings of both companies. The effective date was set as 1 April 2019. - FY2019-Q2RaisedAnnual report
「With respect to integration synergies, one of the main objectives of the management integration, we will achieve ¥60 billion in fiscal 2021.」
Upon entering into the share exchange agreement concerning the management integration with 昭和シェル, the companies specified a synergy target of ¥60 billion for fiscal 2021. This was raised from the previous target of at least ¥30 billion annually. - FY2019-Q1AdvancedAnnual report
「On 10 July 2018, the two companies each held a meeting of their Board of Directors and entered into an "Agreement on Management Integration" as the best means of enhancing corporate value. They decided to implement a share exchange, under which Idemitsu Kosan Co.,Ltd. would issue its shares to shareholders of 昭和シェル and acquire all issued shares of 昭和シェル, following procedures including the execution of a share exchange agreement, and thereby complete the management integration on 1 April 2019.」
The companies progressed from the previous stage of integration discussions and an alliance to an agreement on management integration through a share exchange, with 1 April 2019 targeted as the effective date. The post-integration medium-term management plan also assumes cumulative net income of at least ¥500 billion for fiscal years 2019–2021 and a shareholder return ratio of at least 50%. - FY2018RaisedAnnual report
「From 2019 onward, the two companies together aim to generate annual synergies of at least ¥30 billion.」
The synergy target was raised from the previous annual target of at least ¥25 billion to at least ¥30 billion annually from 2019 onward. The document also describes the reciprocal use of shipping terminals, reciprocal participation in corporate card programs, personnel and director exchanges, and the integration of offices. - FY2018-Q3WorsenedAnnual report
「A joint substantial shareholding report (amendment report) submitted on 18 December 2017 by 日章興産株式会社, Idemitsu Shosuke (出光昭介), Idemitsu Masakazu (出光正和), Idemitsu Masamichi (出光正道) and 宗像合同会社 states that the 5 parties agreed on 18 December 2017 to oppose and jointly exercise voting rights and other rights if a proposal seeking approval of the Company's planned future management integration with 昭和シェル石油株式会社 through a merger or other means is submitted at an annual or extraordinary shareholders' meeting.」
The document states that the parties who would jointly exercise voting rights and other rights in opposition to the management integration with 昭和シェル increased from the previous 4 parties to 5. - FY2017ReframedAnnual report
「On 9 May 2017, we also entered into a letter of intent with 昭和シェル石油㈱ concerning the formation of a corporate group and the strengthening and promotion of joint businesses. The companies will form an alliance as equal partners, deepen cooperation across a broad range of areas while resuming or accelerating various processes toward the integration, make maximum effective use of the period until the integration is completed, and seek to capture synergies in advance in order to further enhance the corporate value of both companies. We aim to generate annual synergies of at least ¥25 billion within 3 years of April 2017.」
While continuing discussions on the integration, the companies established the "Brighter Energy Alliance" under the letter of intent dated 9 May 2017 as a new framework for collaboration, restructuring the plan to target annual synergies of at least ¥25 billion within 3 years. - FY2017-Q3ReframedAnnual report
「In addition, 昭和シェル and the Company have held discussions toward management integration based on the basic agreement dated 12 November 2015. To create a leading company in the industry with outstanding competitiveness, we will resume discussions toward management integration while respecting the spirit of the basic agreement.」
After completing the acquisition of shares in 昭和シェル, the wording changed to state that discussions toward management integration would be held again while respecting the spirit of the basic agreement. No deadline, including a launch date for the integrated company, was given. - FY2017-Q2SoftenedAnnual report
「As a basic policy, management integration will be carried out through a merger. The companies will continue to examine and discuss the matter before making a formal decision. Accordingly, the launch date of the integrated company has not been determined.」
With respect to the previous plan to launch the integrated company on 1 April 2017, the launch date was left undetermined due to discussions with stakeholders. The policy of pursuing a merger remains unchanged. - FY2017-Q1WorsenedAnnual report
「The document states that 日章興産株式会社, Idemitsu Shosuke (出光昭介), Idemitsu Masakazu (出光正和) and Idemitsu Masamichi (出光正道) agreed on 1 August 2016 to oppose and jointly exercise voting rights and other rights in connection with an extraordinary shareholders' meeting concerning the Company's planned future management integration with 昭和シェル石油株式会社 through a merger or other means.」
Although the plan to launch the integrated company on 1 April 2017 is described, an agreement among shareholders to oppose the integration and jointly exercise their rights was disclosed. The Company does not state whether, or to what extent, this will affect the integration plan. - FY2016First statedAnnual report
「To make a major leap forward through management integration with 昭和シェル石油㈱ and become both "a leading company in the industry with outstanding competitiveness" and "a new energy company originating in Japan," we will steadily prepare for the acquisition of shares in 昭和シェル石油㈱ and the subsequent implementation of management integration.」
The document states that the companies aim to launch the integrated company on 1 April 2017, based on an integration between equals, with a merger as the basic policy.