Idemitsu Kosan Co., Ltd. history, profile and history video
Idemitsu Kosan Co., Ltd. is a petroleum company headquartered in Tokyo, Japan. It is expanding its business in such areas as petroleum products, lubricants, asphalt, oil and gas development, renewable energy, coal, petrochemicals, electronic materials, and agri-bio products.
The common icon “Apollo” is used for both the corporate brand and service station brand, and it features a depiction of the mythical god of the sun in Greek and Roman myths.
HISTORY
Idemitsu Shokai, the predecessor of Idemitsu Kosan, was founded in 1911 by Sazō Idemitsu. It took its first steps in the oil sales business at the trading port of Moji in Kitakyushu, Japan.
Idemitsu Kosan Co., Ltd. was incorporated in 1940.
In 1945, with the end of the Second World War, Idemitsu lost all its businesses and overseas assets. All that remained were 2.6 million yen in debts (measured in their current value at that time) and about 1,000 employees in Japan and overseas.
After the end of the war, as petroleum controls remained in existence Idemitsu was in charge only of details of oil distribution at several branches including Wakamatsu, Beppu, and Nagoya.
Idemitsu decided to endure the emergency situation by taking on a variety of businesses, such as recovery of oil from the bottom of former Japan Navy tanks, radio repairs and sales, printing, agriculture, production of soy sauce and vinegar, and marine products industry.
While most of these businesses ended in failure, the radio repairs and sales business opened about 50 shops in major cities across Japan, serving as a preparation for the future development of Idemitsu’s retail network in the oil business.
In 1947, Idemitsu returned to the oil business as 29 of its outlets across Japan are named retailers for the Oil Distribution Public Corporation.
In 1952, the company began the import of high-octane gasoline from the United States for sale under the Apollo Gasoline brand.
In 1957, Idemitsu entered the oil refining business.
In 1961, Apollo Service Co., Ltd. was established.
In 1962, Munakata Kaiun Co., Ltd. was established.
In 1964, Idemitsu Petrochemical Co., Ltd. was established.
In 1971, Idemitsu Japan Sea Oil Development Co., Ltd. was established (renamed Idemitsu Oil Development Co., Ltd. in 1976)
In 1983, Idemitsu Engineering Co., Ltd. was established.
In 1984, Japan’s first heavy gas oil hydrogenated cracking unit was completed at Hokkaido Refinery.
In 1986, Idemitsu Credit Co., Ltd. was established.
In 1989, Idemitsu Oil & Gas Co., Ltd. was established.
In 1997, Idemitsu began bulk supply of liquefied petroleum (LP) gas.
In 2002, the Electronic Materials Office and the Energy Solution Business Office were established.
In 2003, the businesses of Munakata Kaiun and Asahi Tanker merged.
In 2003, Idemitsu Credit and Credit Saison merge through comprehensive partnership (ownership: 50%).
In 2004, Mitsui Chemicals, Inc. and Idemitsu Petrochemical announced the merger of polyolefin businesses.
In 2004, Idemitsu Kosan Co., Ltd. merged with Idemitsu Petrochemical Co., Ltd.
In 2005, Idemitsu Aviation Co., Ltd. and Prime Polymer Co., Ltd. were established.
In 2006, the businesses of Idemitsu Gas and Life Co., Ltd. and Mitsubishi Liquified Gas Co. merged.
In 2006, Idemitsu Unitech Co., Ltd. absorbed Idemitsu Plastics Co., Ltd.
In 2010, Chiba Chemicals Manufacturing LLP was established to achieve joint operation of ethylene complex.
In 2012, Yellow Hat Ltd. and Idemitsu Kosan Co., Ltd formed a business alliance.
In 2016, the company acquired shares of Showa Shell Sekiyu K.K. from Royal Dutch Shell.
In 2018, the Share Exchange Agreement between Idemitsu Kosan Co., Ltd and Showa Shell Sekiyu K.K. has been approved.
In 2019, the Business Integration with Showa Shell Sekiyu K.K. has been implemented.
With more than 14,000 employees, Idemitsu Kosan Co., Ltd. is considered one of the largest petroleum refiners in Japan. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.idemitsu.com/en.
**Video published on YouTube by “出光興産（Idemitsu Japan）“.