Corporate Events

Idemitsu Kosan Co.,Ltd. announced that the Board of Directors has decided to propose retirement of Maki Kado as Outside Director. Tsutomu Yoshioka as Audit & Supervisory Board Member at the 110th Ordinary General Meeting of Shareholders scheduled to be held on June 25, 2025. Effective Date: June 25, 2025.

Idemitsu Kosan Co.,Ltd. provided consolidated earnings guidance for the fiscal year ending March 31, 2026. For the year, the company expects net sales of JPY 7,900,000 million, operating income of JPY 37,000 million, net income attributable to owners of the parent of JPY 50,000 million and net income per share of JPY 40.83.

Idemitsu Kosan Co.,Ltd. announces year end dividend for Fiscal Year Ended March 31, 2025, payable on June 4, 2025. For the period, the company announced a year end dividend of JPY 18.00 per share against JPY 16.00 per share a year ago. Scheduled date of commencement of dividend payments: June 4, 2025.

Idemitsu Kosan Co.,Ltd. Provided dividend guidance for second quarter end and year end of Fiscal Year Ending March 31, 2026. For the second quarter end, the company expects to pay a dividend of JPY 18.00 per share against JPY 18.00 per share a year ago. For the year end, the company expects to pay a dividend of JPY 18.00 per share against JPY 18.00 per share a year ago.

Idemitsu Kosan Co.,Ltd., Board Meeting, May 13, 2025. Agenda: To consider decision to propose changes to the representative director, directors and auditors to the 110th Ordinary General Meeting of Shareholders.

Idemitsu Kosan Co.,Ltd., Annual General Meeting, Jun 25, 2025, at 10:00 Tokyo Standard Time. Location: Otemachi Mitsui Hall, Otemachi One Mitsui Bussan Building 3F 2-1, Otemachi 1-chome, Chiyoda-ku Tokyo Japan Agenda: To consider the report on the business report, the consolidated financial statements and the results of audit of the consolidated financial statements by the accounting auditors and the audit & supervisory board for the 110th fiscal year; to consider the report on the non-consolidated financial statements for the 110th fiscal year; to consider the election of ten directors; to consider the election of one audit & supervisory board member; and to consider the election of one substitute audit & supervisory board member.

Nonlinear Materials Corporation announced that it has received round of funding from new investor Idemitsu Kosan Co.,Ltd. on April 17, 2025.

The company closed its plan on March 14, 2025.

From January 1, 2025 to March 14, 2025, the company has repurchased 22,929,800 shares, representing 1.75% for ¥23,584.67 million. With this, the company has completed the repurchase of 69,331,300 shares, representing 5.2% for ¥69,999.98 million under the buyback announced on May 14, 2024.

Idemitsu Kosan Co.,Ltd. has decided to construct a large-scale production facility for solid electrolytes, a material used in all-solid-state lithium-ion rechargeable batteries. The company will expand production capacity of lithium sulfide, an important intermediate raw material for solid electrolytes, to the world's top class level (equivalent to 3 GWh/year of storage batteries) and establish an integrated value chain from raw materials to intermediate materials and products. The planned construction site for the Li2S large-scale facility is within the premises of Chiba Complex (Ichihara City, Chiba Prefecture), with construction scheduled to be completed in June 2027. This initiative has been approved by the Ministry of Economy, Trade and Industry as a "plan for ensuring supply of storage batteries," and of the total project cost of approximately JPY 21.3 billion, approximately JPY 7.1 billion is planned as the maximum grant amount. Idemitsu will accelerate mass production of solid electrolytes with lithium sulfide produced by this facility as the base material and widely deliver high-performance solid electrolytes to various customers. This will contribute to the government's policy of strengthening the storage battery supply chain and improving the competitiveness of Japan's storage battery industry. Compared to conventional liquid batteries, all-solid-state batteries have a solid electrolyte, which allows ions to move faster. Therefore, EVs equipped with all-solid-state batteries are expected to have the potential to further reduce charging time and increase power output. In addition, because they are resistant to high voltage and high temperature, all- solid-state batteries are expected to improve energy density and lengthen service life.

Idemitsu Kosan Co.,Ltd. announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on May 13, 2025

Idemitsu Kosan Co.,Ltd., 2025 Earnings Call, May 13, 2025

Idemitsu Kosan Co. Ltd. and Mitsubishi Electric Corporation announced that they have agreed to start collaboration for use of biomass plastics in home appliances, with the aim of promoting biomass plastics in the home appliance market. Idemitsu Kosan will produce biomass chemicals using the mass balance method. Mitsubishi Electric aims to use biomass plastics made from the chemicals for Mitsubishi Electric's home appliances (e.g., air conditioners and refrigerators). Biomass plastics made from biomass chemicals are considered to have the following characteristics compared to petroleum-derived plastics. CO2 emissions could be reduced throughout their life cycle because they are manufactured from raw materials derived from renewable materials such as plants, used cooking oils, etc. They can be used in home appliances without inhibiting material recycling because they are the same quality as petroleum-derived plastics. To solve this issue, the two companies will work together to use biomass plastics made from biomass chemicals in home appliances, and contribute to carbon neutrality regarding plastics and the realization of a circular economy.

Idemitsu Kosan Co.,Ltd. provided consolidated earnings guidance for the fiscal year ending March 31, 2025. For the year, the company expects net sales of JPY 9,200,000 million, operating income of JPY 204,000 million, net income attributable to owners of the parent of JPY 145,000 million and net income per share of JPY 107.43.

Idemitsu Kosan Co.,Ltd. (TSE:5019) announces a share repurchase program. Under the program, the company will repurchase up to 80,000,000 common shares, representing 6.10% of its issued share capital, for ¥70,000 million. The share repurchase program is been implemented to give profit returns to shareholders. The shares repurchased will be cancelled. The share repurchase program is valid till March 16, 2026.

The Board of Directors of Idemitsu Kosan Co.,Ltd. has authorized a buyback plan on February 12, 2025.

Idemitsu Kosan Co.,Ltd. announced that it has decided to implement a change in its Representative Directors as detailed below at a board meeting held on February 12, 2025. Changes to the Representative Directors Appointment dated April 1, 2025; Representative Director and Chairman: Shunichi Kito -(Current Representative Director, President and Chief Executive Officer); Representative Director and President: Noriaki Sakai -(Current Representative Director, Executive Vice President); Reasons for the Change: Idemitsu Kosan is committed to its mission of providing a stable energy supply while promoting a transformation of its business portfolio towards a decarbonized society. As various changes in the energy situation are expected in the future, will strengthen management structure to drive these initiatives. Since taking office in 2018, the current president has led to establish a new organizational system and a harmonious relationship among employees after the business merger. Additionally, amid unexpected changes in the environment, such as the volatile global situation or the spread of COVID-19, he has executed the current medium-term management plan (2023-2025) and collaborated with the government, as the Chairman of the Petroleum Association of Japan and a member of the GX Implementation Council. Furthermore, he will continue to contribute to improving corporate value as the chairman and Japan's energy policy. Chairman and Representative Director: Shunichi Kito; Date of Birth: April 6, 1956; Brief History: April 1980 Joined Idemitsu Kosan Co. Ltd. ("Idemitsu Kosan"); April 2005 Deputy General Manager of Personnel Department, Idemitsu Kosan; July 2008 Deputy General Manager of Accounting Department, Idemitsu Kosan; June 2011 Executive Officer and General Manager of Accounting Department, Idemitsu Kosan; June 2013 Director, Managing Executive Officer and General Manager of Accounting Department, Idemitsu Kosan; June 2014 Managing Director, Idemitsu Kosan; June 2017 Executive Vice President and Director, Idemitsu Kosan; April 2018 Representative Director, President, Idemitsu Kosan; April 2019 Representative Director and President and Chief Executive Officer, Idemitsu Kosan; June 2022 Representative Director and President and Chief Executive Officer, Idemitsu Kosan (to date); September 2022 President, Petroleum Association of Japan (to date). Representative Director and President: Noriaki Sakai, Date of Birth: April 8, 1961, Brief History: April 1985 Joined Idemitsu Kosan. Ltd. ("Idemitsu Kosan"); July 2010 Deputy General Manager of Tokuyama Refinery and Deputy General Manager of Tokuyama Plant, Idemitsu Kosan; July 2012 Deputy General Manager of Human Resource Department, Health Insurance Union President and Corporate Pension Fund President, Idemitsu Kosan; July 2015 Deputy General Manager of Accounting Department, Idemitsu Kosan; July 2017 General Manager of Accounting Department, Idemitsu Kosan; July 2018 Executive Officer and General Manager of Accounting Department, Idemitsu Kosan; April 2019 Executive Officer and General Manager of Finance Department, Idemitsu Kosan; July 2020 Senior Executive Officer Chief Financial Officer, Idemitsu Kosan; June 2021 Director, Managing Executive Vice President, Idemitsu Kosan; June 2022 Director, Executive Vice President, Idemitsu Kosan; June 2023 Representative Director, Executive Vice President, Idemitsu Kosan (to date).

Idemitsu Kosan Co.,Ltd., Board Meeting, Feb 12, 2025. Agenda: To consider and approve changes in its Representative Directors.

Terviva, Inc. announced a strategic investment from integrated energy company Idemitsu Kosan Co. Ltd. (Idemitsu). Idemitsu, in partnership with Terviva and Stanmore, an Australia-based coal resource company, is beginning a trial Plant of Terviva's pongamia in Queensland, Australia. This collaboration leverages Terviva's scalable tree production and Idemitsu's expertise in fuels to accelerate the global production of sustainable aviation fuels (SAF) with oil from Terviva's proprietary pongamia technology. Terviva has developed a model that ensures high yields for farmers and a robust end market for the entire pongamia bean, while Idemitsu's industry knowledge streamlines the path to market for the oil as SAF. Pongamia is recognized for its ability to serve as a feedstock for Sustainable Aviation Fuel (SAF) using HEFA1 technology. Through this trial planting, Idemitsu Kosan will gain an understanding of growing pongamia in a non-typical cropping area, and work on development and optimization of the supply chain for SAF production. Additionally, the company will explore the creation of carbon credits through afforestation, the production of black pellets from shells for biomass power plants, the use of pressed seed pomace as livestock feed, and other uses beyond feedstock for SAF. Terviva's elite pongamia cultivars have been developed over 15 years of research trials spanning nearly 2,000 acres in the US and Australia. Terviva's pongasis trees produce three or more metric tons of beans per acre, which feature a high oil content. The harvested beans are processed to produce oil, which can then be used as a feedstock, or raw material, for the biofuels industry. The combination of high oil yielding cultivars with low agricultural input best-practices creates a unique opportunity for reduced greenhouse gas emissions compared to traditional fossil fuels. Due to the strong genetic variability of pongamia, the know-how for selecting and producing superior varieties is key to achieving high yield. Idemitsu Kosan aims to establish a supply system for 500,000 kL of SAF annually using HEFA technology at its Tokuyama Complex in FY2028. Considering the potential future supply and demand tightness and price fluctuations of various raw materials, Idemitsu Kosan is working to secure raw materials that can be supplied sustainably over the long term. Pongamia's ability as a high yielding oilseed crop is considered promising as a measure to secure raw materials for the long-term stable and economical production of SAF using HEFA technology. This initial trial will inform Idemitsu Kosan's future expansion of commercial pongamia.

From October 1, 2024 to December 31, 2024, the company has repurchased 23,168,700 shares, representing 1.74% for ¥23,666.22 million. With this, the company has completed the repurchase of 46,401,500 shares, representing 3.45% for ¥46,415.3 million under the buyback announced on May 14, 2024.

Idemitsu Kosan Co.,Ltd. expected to report Fiscal Year 2025 results on May 14, 2025. This event was calculated by S&P Global (Created on January 2, 2025).

Idemitsu Kosan Co.,Ltd. (TSE:5019) proposed to acquire Agro-Kanesho Co., Ltd. (TSE:4955) from group of shareholders for ¥23.0 billion on November 12, 2024. Idemitsu Kosan will acquire 12.1 million shares at ¥1,900 per share. The transaction is subject to minimum tender. The Board of Directors of Agro-Kanesho Co., Ltd. formed a special committee for the transaction. At the board of directors’ meeting held on November 12, 2024, Idemitsu Kosan Co., Ltd. adopted a resolution to acquire the shares of common stock of Agro-Kanesho Co., Ltd. and commenced the Tender Offer on November 13, 2024. However, on November 22, 2024, the Tender Offeror received from the Fair Trade Commission the “Notice of Non-issuance of Cease and Desist Order” dated November 22, 2024 and the “Notice of Shortening of Prohibition Period” dated the same day; in conjunction with this, some of the matters stated in the tender offer registration statement concerning the Tender Offer. The expected completion of the transaction is December 24, 2024. EY Strategy and Consulting Co., Ltd. acted as financial advisor for Idemitsu Kosan Co.,Ltd. Nishimura & Asahi acted as legal advisor for Idemitsu Kosan Co.,Ltd. Goldman Sachs Securities Co., Ltd. acted as financial advisor for Idemitsu Kosan Co.,Ltd. Mizuho Securities Co., Ltd. acted as financial advisor for Idemitsu Kosan Co.,Ltd. Nomura Securities Co., Ltd. acted as financial advisor for Agro-Kanesho Co., Ltd. Anderson Mori & Tomotsune LPC acted as legal advisor for Agro-Kanesho Co., Ltd. Idemitsu Kosan Co.,Ltd. (TSE:5019) Completed the acquisition of 91.91% in Agro-Kanesho Co., Ltd. (TSE:4955) from group of shareholders in a tender offer transaction on December 24, 2024.

Idemitsu Kosan Co.,Ltd. announced dividend of JPY 18.00 per share for the second quarter-end of the fiscal year ending March 31, 2025 against JPY 80.00 per share a year ago. Scheduled date of commencement of dividend payments is December 6, 2024. The company provided dividend guidance for the fiscal year ending March 31, 2025. For the year-end, the company expects to pay dividend of JPY 18.00 per share against JPY 16.00 per share a year ago.

Enthought announced that integrated energy company Idemitsu Kosan Co. Ltd. (Idemitsu) has expanded their partnership in support of their vision to scale the development and manufacturing of innovative battery materials. The growing partnership will include new strategic technical consulting and implementation services in addition to renewed participation in Enthought's unique Materials Informatics (MI) Acceleration Program for internal teams. The expansion and renewal highlights Idemitsu's commitment to accelerate product research and development (R&D) through materials informatics, process informatics, and digital transformation (DX) in one of their new innovation-driven businesses that is helping realize a carbon-neutral future.

Idemitsu Kosan Co.,Ltd., ¥ 18.0, Cash Dividend, Mar-28-2025

Idemitsu Kosan Co.,Ltd., Board Meeting, Nov 12, 2024. Agenda: To acquire the shares of common stock.

Idemitsu Kosan Co.,Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025

A new engine oil, "IDEMITSU IFG Plantech Racing" developed by Idemitsu Kosan Co. Ltd. was adopted for use in the "MAZDA SPIRIT RACING ROADSTER CNF concept" racing car that participated in the ST-Q Class1 of the SUZUKA Super Taikyu race (held on September 28-29). IDEMITSU IFG plantech Racing was adopted as an oil with racing performance that contributes to carbon neutrality for use in a racing car and completed the 5-hour endurance race without any problems. This accomplishment proved its race-ready performance. This product is the world's first engine oil for 4-wheeled vehicles that uses plant-derived raw materials (80% or more) as base oil and features racing performance and API SP certification. The long-distance, long-lasting "Super Taikyu Series" requires engine oil that continues to maximize engine performance, including durability and low evaporation under severe conditions, in addition to ensuring performance such as engine acceleration and protection. “IDEMITSU IFG Plantech Racing” is a product that maximizes Idemitsu’s technologies for delivering engine performance and reducing environmental impact. Utilizing its proprietary formulation technology “Molybdenum x Plant-derived Ester Technology”, Idemitsu has optimally blended a plant-derived base oil to meet the performance requirements of this race. Mazda Motor Corporation, which has adopted IDEMITSU IFG Plantech Racing, aims to achieve not only carbon neutrality in fuel, but also carbon negativity by incorporating CO2 capture and other technologies. Mazda’s philosophy for the development of technology based on the concept of carbon neutral meshed with the concept of IDEMITSU IFG Plantech Racing, and the highly rated performance of the engine output and reliability demonstrated during tests conducted by MAZDA SPIRIT RACING led to the decision to use this product. This top-of-the-line model inherits the DNA of the “IDEMITSU IFG/IRG Series,” which is sold mainly in the 13 countries where Idemitsu’s lubricant sales offices are located, and is scheduled to launch around November 2024. Since its foundation in 1911, Idemitsu has continued to focus on the precise tailored formulation of lubricants and has refined its technological capabilities. Utilizing its unique technological capabilities, Idemitsu will continue to develop products that only it can produce that appeal to driving enthusiasts.

Japan Petroleum Exploration Co., Ltd., Idemitsu Kosan Co., Ltd., and Hokkaido Electric Power Co. Inc. signed a contract with Japan Organization for Metals and Energy Security (JOGMEC) for an engineering design work of CCS in the Tomakomai area, which is one of the public solicitations regarding the Request for Proposal on the "Engineering Design Work for Advanced CCS Projects" in the fiscal year 2024. The Three Companies were selected by the Public Solicitation upon their application for the CCS project in the Tomakomai area to carry out "basic engineering design for CCS value chain and "assessment on CO2 storage potential at the planned CO2 storage site", following the feasibility study conducted in fiscal 2023, with the aim of the launch of CCS projects by fiscal 2030. The Three Companies will conduct specific technical studies on CO2 separation and capture as well as CO2 transport and storage as part of the "basic engineering design for CCS value chain" towards business implementation decisions. Specifically, for the CO2 separation and capture, Idemitsu and HEPCO will perform works including basic engineering design for the necessary equipment at each CO2 emission source. For the CO2 transport and storage, JAPEX will conduct works including basic engineering design for the pipelines and equipment connecting each emission source to the candidate storage site. In addition, JAPEX will carry out assignments including basic engineering design for the equipment necessary for injecting and monitoring deep saline formations of the sea area around Tomakomai to achieve a CO2 storage volume of 1.5 to 2 million tons per year in 2030. As part of the "assessment on CO2 storage potential at the planned CO2 storage site", JAPEX will carry out preparatory works for an exploratory well (e.g., construction work to prepare the site for an exploratory well), formulate a plan for procuring and storing the equipment and materials needed for an exploratory well, drilling an exploratory well, and analyze and assess the data obtained from the exploratory well. Through the engineering design works, the Three Companies will aim to launch CCS projects by 2030 and expand into future Hubs & Clusters CCUS operations to contribute to the realization of "carbon neutrality in 2050." The Three Companies will work towards commercialization while gaining further understanding of CCS/CCUS from the local residents and continuing dialogue with the local government, fishing industry, and companies around the Tomakomai area.

Mitsui Chemicals, Inc. and Idemitsu Kosan Co. Ltd. have been engaged in deliberations on optimizing production by consolidating their ethylene facilities in the Chiba region. As the two companies have recently completed the feasibility study (FS), they now intend to move on to the next phase - front-end engineering and design (FEED). In 2010, Mitsui and Idemitsu used a limited liability partnership (LLP) to establish Chiba Chemicals Manufacturing LLP and began jointly operating the ethylene facilities owned by both companies in the Chiba region in order to optimize production. Under this structure, the two companies have fastidiously pursued synergies. However, Japanese ethylene facilities continue to be forced to operate at a low rate due to both the opening of large new and expanded petrochemical complexes, mainly in China, and the diminishing domestic demand for ethylene. As such, the petrochemical business environment within Japan is expected to become even tougher. Amid these environmental changes, the two companies conducted an FS focused on consolidating their ethylene facilities in the Chiba region into a single unit at Mitsui's current facility, as announced on March 27, 2024. The FS examined the impact of consolidating the ethylene facilities on feedstock procurement, as well as on the production and supply setup for the products involved. As the two companies reached the conclusion that consolidation will be feasible, they have agreed to move on to the FEED phase. FEED premises for the consolidation of ethylene facilities in the Chiba region: Planned timing of consolidation: Fiscal 2027, Consolidation method: Closure of Idemitsu's facility and consolidation of production at Mitsui's facility, Feedstock for the ethylene facility: To be supplied to the LLP by both companies, Products involved: All fractions, including ethylene, propylene and C4*3, Business format after consolidation: Continuation of the current LLP and joint operation of Mitsui's facility by that LLP. Timing of decision: Latter half of fiscal 2025 After conducting FEED, the two companies plan to discuss the potential consolidation and then reach a final decision. The companies will step up the pace of deliberations in order to achieve greater production efficiency at their ethylene facilities and thereby enhance their competitiveness.

From July 1, 2024 to September 30, 2024, the company has repurchased 23,232,800 shares, representing 1.71% for ¥22,749.08 million. With this, the company has completed the repurchase of 23,232,800 shares, representing 1.71% for ¥22,749.08 million under the buyback announced on May 14, 2024.

Symbiobe Inc. announced that it has received ¥800,000,000 in a round of funding on September 12, 2024. The transaction included participation from new investors, Energy & Environment Investment, Inc., Idemitsu Kosan Co.,Ltd., Shimadzu Future Innovation Fund L.P., a fund managed by Global Brain Corporation, Mitsubishi UFJ Capital Co., Ltd., Kyoto University Innovation Capital Co., Ltd., Kyoto Capital & Partners Co., Ltd., Yamaguchi Capital Co., Ltd., and returning investor, Beyond Next Ventures Co., Ltd. The company has received the funding through a third-party allotment of new shares. The company has raised total amount to approximately ¥1,070,000,000 in funding to the date.

From May 14, 2024 to June 30, 2024, the company has repurchased 0 shares, representing 0% for ¥0 million. With this, the company has completed the repurchase of 0 shares, representing 0% for ¥0 million under the buyback announced on May 14, 2024.

Idemitsu Kosan Co. Ltd. has completed the Feasibility Study (FS) of its SAF (Sustainable Aviation Fuel) production project using HEFA technology at its Tokuyama Complex (Shunan City, Yamaguchi Prefecture; Executive Officer, General Manager of Tokuyama Complex: Yoshihiko Ota), and has decided to move to the next phase, FEED (Front-End Engineering & Design). With the goal of establishing a domestic supply system of 500,000 kL per year by 2030, aim to start producing 250,000 kL of SAF per year at the Tokuyama Complex in fiscal fiscal year 2022. During the FS, candidate construction sites within the Tokuyama Complex have been considered, and the impact of construction on facilities within the Complex, as well as processes and construction schedules have been verified. Having completed the FS and concluded that the project is feasible, have made the decision to move to the FEED phase. The plan is to utilize several oils and fats with high GHG (greenhouse gas) reduction rates as raw materials, including waste materials such as waste cooking oil and tallow, soybean oil, and, in the future, oilseed plants such as pongamia. Idemitsu Kosan aims to build an annual SAF supply system of 500,000 KL in order to achieve the initial goal of the Japanese government and airline industry to replace 10% of fuel consumption by Japanese airlines with SAF by 2030. Idemitsu Kosan will contribute to the decarbonization of aviation fuel by proceeding with efforts toward verification production (100,000 kL/year) by introducing ATJ technology at the Chiba Complex using the Green Innovation Fund, production (250,000 kL/year) by HEFA technology at the Tokuyama Complex, and supply (150,000 kL/year).

Idemitsu Kosan Co.,Ltd. (TSE:5019) agreed to acquire 8.75% stake in Fuji Oil Company, Ltd. (TSE:5017) from JERA Co., Inc. on April 16, 2024. Idemitsu Kosan will acquire 6.8 million shares of Fuji Oil. Idemitsu Kosan Co.,Ltd. (TSE:5019) completed the acquisition of 8.75% stake in Fuji Oil Company, Ltd. (TSE:5017) from JERA Co., Inc. on August 1, 2024. Fair Trade Commission notified Idemitsu that a cease and desist order will not be issued. As a result of the purchase, Idemitsu owns a total of 17 million shares of Fuji Oil (21.79% of the total number of issued shares) and Idemitsu has decided to make Fuji Oil an equity method affiliate.

The company closed its plan on July 26, 2024.

From April 1, 2024 to July 26, 2024, the company has repurchased 24,539,600 shares, representing 1.78% for ¥25,319.55 million. With this, the company has completed the repurchase of 34,563,600 shares, representing 2.49% for ¥34,999.94 million under the buyback announced on November 14, 2023.