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Founding family of Idemitsu Kosan Opposes integration with Showa Shell
A man enters to Idemitsu Kosan headquarters on June 29, 2016, Tokyo, Japan. Idemitsu Kosan's founding family vetoed it's company directors' plan to purchase shares of their competitor Showa Shell Sekiyu in their annual shareholders meeting. The family, which claims to have a 33.92% stake in the refiner, vetoed the planned merger because of differences in strategy and corporate culture between the two companies. Idemitsu, which is Japan's second largest oil distributor, had planned to acquired about 33% of Showa Shell shares from Royal Dutch Shell at the beginning of September 2016. (Photo by Rodrigo Reyes Marin/AFLO)
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34476142
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License type
Editorial
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Creation date
29-06-2016
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