Shell to acquire back Shell Lubricants Japan from Idemitsu Kosan
Idemitsu Kosan Co., Ltd announced that it has entered into a share purchase agreement with Shell Overseas Holdings Limited for the transfer all shares of Shell Lubricants Japan K.K. (SLJ) which is a wholly-owned subsidiary of Idemitsu Kosan, and certain assets and rights currently held by the Company for the use of SLJ’s Shell-branded lubricants business. The discussion about this transfer started on 9th March 2020, and the date of share transfer is scheduled for the end of December 2020 after the completion of the Japan Fair Trade Commission’s corporate merger review.
Idemitsu stated that the price of the transaction would be undisclosed for the interest of both parties. Shell Lubricants Japan K.K. (SLJ) which deals in Lubricants manufacturing, storage, transport, sales, export, import and all other related business in Japan was established on 12th May 2017, and its current capital was JPY310,000,000 (USD2.9 million) according to Idemitsu.
In a press statement, Idemitsu said, “The Company has been operating the Idemitsu-branded lubricants business through the Company, and the Shell-branded lubricants business through SLJ, its wholly-owned subsidiary, to sustain and expand the lubricants business. However, the Company considered the future direction of its lubricants business and the status of the business integration and consequently determined that the establishment of an independent operating structure for the mutually competitive business of each brand, through the transfer of all shares of SLJ to Shell, and that the achievement of its goal of further development and expansion will be optimal, and determined to conduct the Transfer.
After the Transfer, the Company will focus its management resources in the Idemitsu-branded lubricants business, work to continue the development and expansion of the lubricants business as a global supplier of lubricants, and supply the best solutions for customers by utilizing its reliable technology and knowledge.”
Idemitsu Kosan Co., Ltd, which is headquartered in Tokyo, Japan manufactures and sells Idemitsu branded lubricants both for automotive and industrial use. It dates back to 30th March 1940.
