{{Short description|Japanese petroleum company}} {{Redirect|Idemitsu}} {{Infobox company | name = Idemitsu Kosan Co., Ltd. | native_name = 出光興産株式会社 | native_name_lang = ja | romanized_name = Idemitsu Kōsan kabushiki gaisha | trade_name = Idemitsu Showa Shell | logo = Idemitsu Kosan wordmark.svg | logo_caption = Wordmark used since 2020 | image = Otemachi One.jpg | image_caption = Headquarters in Ōtemachi, Chiyoda, Tokyo | type = Public KK | traded_as = {{Tyo|5019}}<br />Nikkei 225 component | foundation = {{Start date and age|1911|06|20}}<ref name="profile">{{cite web|url=http://www.idemitsu.co.jp/e/company/profile.html|title=Company profile - Idemitsu Kosan|publisher=Idemitsu official website|access-date=2008-11-13 |archive-url = https://web.archive.org/web/20080617042118/http://www.idemitsu.co.jp/e/company/profile.html <!-- Bot retrieved archive --> |archive-date = 2008-06-17}}</ref> | founder = Sazō Idemitsu | location = Otemachi One Tower, Chiyoda, Tokyo, Japan | key_people = Takashi Tsukioka<br />(Chairman)<br />Tsuyoshi Kameoka<br />(Vice Chairman)<br />Shunichi Kito<br />(President) | industry = Oil and gas | num_employees = 7,503 (2008)<ref name="fortune">{{cite news|url=https://money.cnn.com/magazines/fortune/global500/2008/snapshots/6375.html|title=Global 500 2008: Idemitsu Kosan|date=July 21, 2008|work=Fortune Global 500|publisher=Fortune Magazine|access-date=2008-11-13}}{{dead link|date=May 2026|bot=medic}}{{cbignore|bot=medic}}</ref> | products = {{ubl|Oil|Petroleum|Petrochemical|Fuel}} | revenue = {{increase}} US$38.58 billion (2014) | net_income = | owner = {{unbulleted list|Idemitsu family (15.72%)|Saudi Aramco (Aramco Overseas Company bv) (7.65%)}} | homepage = {{url|www.idemitsu.com}} }}
{{Nihongo|'''Idemitsu Kosan Co., Ltd.'''|出光興産株式会社|Idemitsu Kōsan kabushiki gaisha|stylized in logo as '''idemitsu'''}} is a Japanese petroleum company. It owns and operates oil platforms, refineries, produces and sells petroleum, oils and petrochemical products,<ref name="bloomberg">{{cite web |url=https://www.bloomberg.com/apps/quote?ticker=5019:JP |title=Stock quote|publisher=Bloomberg|access-date=2008-11-13}}</ref> and also operates gas stations under the {{nihongo foot|'''apollostation'''|アポロステーション|aporosutēshon|group=lower-alpha}} brand and until 2023, in its own ''Idemitsu'' and ''Shell'' brands; the Shell brand being used under the license of Shell.
Idemitsu is the second largest petroleum refiner in Japan, after Eneos.<ref name="IPO2" /> It was ranked as the 262nd largest company in the world by revenue in the ''Fortune'' Global 500 (2008).<ref name="fortune" /> It is number 26 in petroleum refining.<ref>{{cite news |url=https://money.cnn.com/magazines/fortune/global500/2008/industries/20/index.html|title=Global 500 2008: Industry: Petroleum Refining|date=July 21, 2008|work=Fortune Global 500|publisher=Fortune Magazine|access-date=2008-11-13}}{{dead link|date=May 2026|bot=medic}}{{cbignore|bot=medic}}</ref> Idemitsu Kosan is listed in the First Section of the Tokyo Stock Exchange and, since absorbing Showa Shell Sekiyu in 2019, is a constituent of the Nikkei 225 index; however, it is not a constituent of the TOPIX 100 index (instead, it is a constituent of the TOPIX Mid400 index).<ref>{{cite web |title=Constituent Changes TOPIX New Index Series |url=https://www.jpx.co.jp/english/news/1044/b5b4pj0000033pxp-att/e_mei_12_size.pdf |publisher=Japan Exchange Group |access-date=23 February 2020 |date=7 October 2019}}</ref>
==History==
=== Early 20th century === Sazō Idemitsu founded {{Nihongo|Idemitsu & Co.|出光商会|Idemitsu Shōkai}}<ref name="profile" /> in 1911, selling lubricant oil for Nippon Oil in Moji, northern Kyushu. He expanded to selling fuel oil for fishing boats in Shimonoseki.<ref name="idch">''International Directory of Company Histories'', Vol. 49. St. James Press, 2003 as quoted on {{cite web|url=http://www.answers.com/topic/idemitsu-kosan-co-ltd|title=Answers.com article|website=Answers.com |access-date=2008-11-14}} and {{cite web|url=http://www.fundinguniverse.com/company-histories/Idemitsu-Kosan-Co-Ltd-Company-History.html|title=FundingUniverse|access-date=2008-11-14}}</ref><ref name="Britannica">[http://www.britannica.com/EBchecked/topic/281869/Idemitsu-Kosan-Co-Ltd Idemitsu Kōsan Co., Ltd.] (2008). In Encyclopædia Britannica. Retrieved November 15, 2008, from Encyclopædia Britannica Online.</ref>
[[File:South Manchuria Railway LOC 03283.jpg|thumb|left|Idemitsu supplied lubricant to the South Manchuria Railway.]] After success in Japan, Idemitsu & Co. expanded to Manchuria (China) in 1914 where the Japanese-owned South Manchuria Railway was a major customer of lubricant. A branch was opened in Dalian, northeast China and Idemitsu attempted to enter the Chinese market that was dominated by western companies like Standard Oil and the Asiatic Petroleum Company (a Shell subsidiary). The company extended through northern China and into Korea and Taiwan.<ref name="idch" /><ref name="Britannica" />
After the Japanese invasion of Manchuria in 1932 the oil trade became government controlled and Idemitsu was forced to scale back. Instead he went into transport by oil tanker. In 1940 the headquarters were moved to Tokyo and the name changed to the current Idemitsu Kosan K.K. (kabushiki kaisha: stock company). With the Japanese military expansion and United States joining the Pacific War the government took control of all industries.<ref name="idch" /><ref name="Britannica" />
=== Postwar era === After the war Idemitsu Kosan lost its overseas trade with the Allied occupation of Japan. It was among the ten petroleum suppliers selected by the Ministry of International Trade and Industry (MITI) and cut its ties with Nippon Oil. Idemitsu began importing naphtha (an intermediate oil product) first from the United States and later from Venezuela and Iran. The protectionist Oil Industry Law helped Idemitsu against foreign competition in Japan, but also made owning its own refineries important. Idemitsu's first Tokuyama Refinery opened in 1957. This was followed by the Chiba oil refinery in 1963, Hyogo oil refinery in 1970, the Hokkaido oil refinery in 1973, and the Aichi oil refinery in 1975.<ref name="idch" /><ref name="Britannica" />
In 1953 Idemitsu sent its large tanker ''Nissho Maru'' to Iran to purchase oil. Iranian prime minister Mohammed Mosaddeq had recently nationalized the oil fields and was under British-led embargo (Abadan Crisis). Idemitsu managed to buy the oil at 30% below market price and displeased the British. This was popular with the Japanese public but got Idemitsu in conflict with the Japanese government and MITI. Later the same year was the 1953 Iranian coup d'état. In the 1960s, Idemitsu imported crude oil from Russia. Again, it got a good price at 40% below market value but angered the United States who decided to boycott Idemitsu when buying fuel for its military jets in Japan. Idemitsu called the boycott "an odd Christmas gift" but "utterly negligible."<ref name="idch" /><ref name="time1962">{{cite news|url=http://www.time.com/time/magazine/article/0,9171,827444,00.html?iid=chix-sphere|archive-url=https://web.archive.org/web/20121026084349/http://www.time.com/time/magazine/article/0,9171,827444,00.html?iid=chix-sphere|url-status=dead|archive-date=October 26, 2012|title=Again the Rising Sun|date=July 13, 1962|publisher=Time magazine|access-date=2008-11-18}}</ref> In 1978 it broke off contracts with the Soviet Union.<ref>{{cite news|url=http://www.accessmylibrary.com/coms2/summary_0286-26385153_ITM|title=Japan to resume export of Russian oil|date=21 October 2002|publisher=Russian Economic News, via Europe Intelligence Wire|access-date=2008-11-21}}</ref>
The company also came in conflict with the Petroleum Association of Japan which was set up by MITI to restrict production and Idemitsu even left the organization. In 1965 the seamen's union went on strike, the first of its kind in Japan. This led to petroleum shortages. Idemitsu then ignored the quotas and produced at full speed. When the price control and production quotas were removed in 1966, Idemitsu rejoined the PAJ. To please the MITI, Sazō Idemitsu's younger brother Keisuke Idemitsu took over as company president, while Sazō became chairman of the board, keeping the actual control.<ref name="idch" />
thumb|right|In 1992 Idemitsu Kosan began constructing oil platforms in the North Sea (not the pictured platform). The company continued its vertical integration strategy of controlling the whole supply chain with more tankers and opening petrol depots and warehouses. In 1976 it started drilling for oil and gas in the offshore Aga Field in the Niigata Prefecture (Sea of Japan). Commercial production began in 1984. Idemitsu took interest in foreign oil fields, and in 1987 it started an oil field in southeast Turkey with Finnish company Neste Oy. Idemitsu acquired stake in Norwegian Snorre oil field and in Australia, as well as participating in oil drilling around the world.<ref name="idch" /><ref name="Britannica" />
The company diversified into coal, importing from Australia and bought mines in Muswellbrook, New South Wales and Ebenezer, Queensland. It became the largest coal mining company in Japan and developed the coal cartridge system for small users. It worked on geothermal power experiments and uranium mining in Canada with Cameco and Cogema. The sharp 1985 price drop on oil made Idemitsu's non-oil operations less profitable.<ref name="idch" />
Japanese import restrictions on oil once again came under debate. As in 1962, Idemitsu favored opening up to foreign competition, in opposition to most of the Japanese oil industry. The Japanese government eventually settled on a compromise that would slowly open for free importation and remove production quotas on refineries.<ref name="idch" />
As a means of diversifying its business in the wake of global oil shocks, Idemitsu began development of OLED technology in the 1980s, culminating in the development of a practical full-color LED display introduced by Pioneer in the late 1990s. Idemitsu's technology was eventually adapted by Samsung Electronics for use in its Galaxy line of smartphones.<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2017-04-23/new-iphone-screen-puts-blue-colored-spotlight-on-japan-supplier|title=New iPhone Screen Puts Blue-Colored Spotlight on Japan Supplier|date=2017-04-23|work=Bloomberg.com|access-date=2017-04-24}}</ref>
=== 1990s and early 2000s === thumb|right|Idemitsu was quick to open self-service gas stations when it was allowed in Japan in 1998. By 1997 Idemitsu was the largest seller of fuel oil in Japan, due largely to capital investments by president Shosuke Idemitsu during the 1980s and early 1990s. However, these investments left the company deeply in debt with a speculative credit rating. Akihiko Tembo, the first president from outside the founding family, instituted several reforms to alleviate the company's finances, including cutting retroactive discounts offered to distributors. Tembo also merged parts of the company's operations with Mitsubishi Corporation and Mitsui Chemicals.<ref name=":0">{{Cite web|url=https://sentaku-en.com/articles/2016/08/echoes-of-history-in-battle-over-planned-idemitsu-merger.html|title=Echoes of history in battle over planned Idemitsu merger|date=2016-03-08|website=sentaku-en.com|access-date=2017-04-24|archive-date=2017-04-24|archive-url=https://web.archive.org/web/20170424180814/https://sentaku-en.com/articles/2016/08/echoes-of-history-in-battle-over-planned-idemitsu-merger.html|url-status=dead}}</ref>
In the 1990s, Idemitsu began opening service stations outside Japan, in Portugal and Puerto Rico, as well as a lubricant factory in the United States. Oil industry deregulation took big leaps with the abolishment of the Special Petroleum Law and self-service pumps became legal. Toward the end of the 1990s, the demand in Japan decreased due to the long economic crisis. The oil industry was too large and many companies merged. At the turn of the century, Idemitsu Kosan was the only major oil refining company in Japan that had not merged. The company was entirely held by the Idemitsu family and company employees.<ref name="idch" /> In 1994, Unioil became the exclusive distributor of Idemitsu products in the Philippines.<ref>{{cite web |url=https://unioil.com/about_us |title=About Us |publisher=Unioil |access-date=2019-07-04 |archive-date=2019-07-04 |archive-url=https://web.archive.org/web/20190704075034/https://unioil.com/about_us |url-status=dead }}</ref>
In 2006 Idemitsu Kosan became publicly traded on the Tokyo Stock Exchange after an initial public offering (IPO), raising 109.4 billion yen.<ref name="IPO2">{{cite news|url=https://www.bloomberg.com/apps/news?pid=20601101&sid=ajVCAH8Y1UYw|title=Idemitsu Raises 109.4 Billion Yen in Oil Refiner IPO|last=Yamanaka|first=Megumi|date=October 16, 2006|publisher=Bloomberg L.P.|access-date=2008-11-15}}</ref><ref name="IPO">{{cite news|url=http://www.accessmylibrary.com/coms2/summary_0286-17652180_ITM|title=Idemitsu Kosan to go public Oct. 24.|date=2006-09-19|publisher=Kyodo News International|access-date=2008-11-14}}</ref>
In 2012, Australian fuel retailer Freedom Fuels was purchased.<ref>[https://web.archive.org/web/20180501000000*/https://www.freedomfuels.com.au/our-history Our history] Freedom Fuels</ref>
=== Showa Shell merger === In 2016, Idemitsu management announced plans to merge the company with Showa Shell Sekiyu, the fifth-largest oil wholesaler in Japan. The transaction was opposed by the founding Idemitsu family for several reasons, reportedly including ongoing friction between the family and Tembo's management team, cultural differences between the two companies, geopolitical issues (Idemitsu being a major importer of Iranian oil while Showa Shell would remain partly owned by Saudi Aramco), and pressure from rival JX Nippon Oil & Energy which was simultaneously planning its own merger with TonenGeneral.<ref name=":0" /> Without approval from the Idemitsu family for a full merger, company management purchased 31% of Showa Shell in December 2016, and launched partnerships in refining and logistics starting in April 2017.<ref>{{Cite news|url=http://asia.nikkei.com/Business/Deals/Idemitsu-Showa-Shell-to-partner-in-oil-refining|title=Idemitsu, Showa Shell to partner in oil refining|date=2017-03-28|work=Nikkei Asian Review|access-date=2017-04-24|archive-url=https://web.archive.org/web/20170327185157/http://asia.nikkei.com/Business/Deals/Idemitsu-Showa-Shell-to-partner-in-oil-refining|archive-date=2017-03-27|url-status=dead}}</ref> Idemitsu completed the acquisition and merger of Showa Shell in 2019.<ref name=jt2019>{{cite news|url=https://www.japantimes.co.jp/news/2019/04/01/business/corporate-business/new-japanese-oil-giant-created-idemitsu-showa-shell-merger/|title=New Japanese oil giant created with Idemitsu-Showa Shell merger|work=The Japan Times|date=2019-04-01|access-date=2024-06-01}}</ref>
==Oil extraction and shipping== The subsidiary Idemitsu Oil & Gas Co., Ltd. produces about {{convert|30000|oilbbl|m3}} of crude oil per day. The primary sources is Idemitsus stake in Norwegian oil fields in the North Sea (North Sea oil). The first and largest Snorre oil field has been followed by several more. In the Sea of Japan, Idemitsu has oil platforms in Niigata prefecture near Aga and Iwafune, but the production is small.<ref name="usgs" /> There are exploration projects in Vietnam, Thailand and Cambodia.<ref>{{cite web|url=http://www.iog-idemitsu.co.jp/project/index.html|title=Projects|publisher=Idemitsu Oil & Gas|access-date=2008-11-15|url-status=dead|archive-url=https://web.archive.org/web/20081103173017/http://www.iog-idemitsu.co.jp/project/index.html|archive-date=2008-11-03}}</ref> In Vietnam, the exploration is together with Russian Zarubezhneft and the Vietnam Oil & Gas Group (Petro Vietnam).<ref>{{cite news|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=adHrDmBRWTAw|title=Russian-Backed Group Says Vietnam Oil Discovery Is Commercial |last=Folkmanis|first=Jason|date=8 January 2008|publisher=Bloomberg|access-date=2008-11-15}}</ref>
Idemitsu Kosan owns 12 oil tankers for international use.<ref name="Business">{{cite web|url=http://www.idemitsu.co.jp/e/company/business.html|title=Business - Company info - Idemitsu Kosan|access-date=2008-11-15 |archive-url = https://web.archive.org/web/20080617042108/http://www.idemitsu.co.jp/e/company/business.html <!-- Bot retrieved archive --> |archive-date = 2008-06-17}}</ref>
==Refining== Idemitsu owns four refineries: * Hokkaido Refinery, Hokkaido, {{convert|140000|oilbbl/d|m3/d}} ({{asof|2005|lc=on}})<ref name="capacities">{{cite web|url=http://www.paj.gr.jp/statis/excel/epaj-8.xls |title=Refining Capacities |publisher=Petroleum Association of Japan |access-date=2008-12-06 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20070116200929/http://www.paj.gr.jp/statis/excel/epaj-8.xls |archive-date=January 16, 2007 }}</ref> * Chiba Refinery, Ichihara, Chiba, {{convert|209000|oilbbl/d|m3/d|abbr=on}}<ref>{{cite web|url=http://www.eia.doe.gov/emeu/cabs/Japan/Profile.html|title=Quick Facts, Japan|date=September 2008|work=Country Analysis Brief|publisher=U.S. Energy Information Administration|access-date=2008-11-15|url-status=dead|archive-url=https://web.archive.org/web/20081028202856/http://www.eia.doe.gov/emeu/cabs/Japan/Profile.html|archive-date=2008-10-28}}</ref> * Aichi Refinery, Aichi, {{convert|160000|oilbbl/d|m3/d|abbr=on}}<ref name="capacities" /> * Tokuyama Refinery, Tokuyama, {{convert|120000|oilbbl/d|m3/d|abbr=on}}<ref name="capacities" />
The Hyogo and Okinawa refineries were closed in 2003 after an agreement that Nippon Oil would supply Idemitsu Kosan with {{convert|40000|oilbbl/d|m3/d}} of petroleum products. Tokuyama Refinery was shut down in 2014 as scheduled, in conjunction to the Hokkaido Refinery gaining an increase in oil supply.<ref>{{cite news|url=http://findarticles.com/p/articles/mi_gx5202/is_1992/ai_n19122157/pg_1?tag=artBody;col1|title=Nippon Oil Corporation|last=Doorley|first=Michael|author2=Salamie, David|work=International Directory of Company Histories|access-date=2008-11-14 | year=1992}}</ref><ref>Byrd, Miemie Winn (2005-09-07). ''[http://www.pacom.mil/publications/apeu05/III%20VOL_APEU%202005.pdf Asia-Pacific Economic Update 2005 Volume III] {{webarchive|url=https://web.archive.org/web/20071029053959/http://www.pacom.mil/publications/apeu05/III%20VOL_APEU%202005.pdf |date=2007-10-29 }}''. United States Pacific Command. p. 128.</ref>
There are 30 operating refineries in Japan with total capacity of {{convert|4.83|Moilbbl/d|m3/d}}, giving Idemitsu Kosan a 13% share of the refining capacity.<ref name="usgs">{{cite web|url=https://minerals.usgs.gov/minerals/pubs/country/2006/myb3-2006-ja.pdf|title=Japan|last=Wu|first=John C.|date=March 2008|work=2006 Minerals Yearbook|publisher=United States Geological Survey|page=12.11|access-date=2008-11-15|archive-date=2008-11-08|archive-url=https://web.archive.org/web/20081108061344/http://minerals.usgs.gov/minerals/pubs/country/2006/myb3-2006-ja.pdf|url-status=dead}}</ref> The company claims between 14% and 34% market share for different products.<ref>{{cite web|url=http://www.idemitsu.co.jp/e/company/market_share.html|title=Market Share - Company info - Idemitsu Kosan|access-date=2008-11-15 |archive-url = https://web.archive.org/web/20080617213158/http://www.idemitsu.co.jp/e/company/market_share.html <!-- Bot retrieved archive --> |archive-date = 2008-06-17}}</ref>
{{As of|2008}} Idemitsu Kosan is planning to build the Nghi Son Refinery in Vietnam in a joint venture with Kuwait Petroleum International, Vietnamese state-owned PetroVietnam and Mitsui Chemicals. With construction planned to start in 2010, it would be ready in 2013 and become the second in Vietnam after the Dung Quat Refinery. Idemitsu Kosan owns a 35.1% stake in the $6 billion, {{convert|200000|oilbbl/d|m3/d}} refinery. Idemitsu has opened an office in Hanoi and is considering using the refinery as a base for expanding into Vietnam and surrounding countries.<ref>{{cite news|url=http://www.yourindustrynews.com/kuwait+japan+joint+oil+refinery+project+in+vietnam_15121.html|title=Kuwait Japan joint oil refinery project in Vietnam|date=11 November 2008|publisher=SteelGuru|access-date=2008-11-15|archive-url=https://web.archive.org/web/20181123065903/http://www.yourindustrynews.com/kuwait+japan+joint+oil+refinery+project+in+vietnam_15121.html|archive-date=23 November 2018|url-status=dead}}</ref><ref>{{cite news |url=http://www.istockanalyst.com/article/viewiStockNews+articleid_2791400.html|title=Idemitsu Kosan to Open New Office in Vietnam|date=12 November 2008 |publisher=iStockAnalyst, YellowBrix, Datamonitor|access-date=2008-11-15}} {{Dead link|date=October 2010|bot=H3llBot}}</ref><ref>{{cite news|url=http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=2d219484-b53e-413f-8b96-af2fbf92548b|title=Petrovietnam could sell 30 pct refinery stakes|date=13 November 2008|publisher=Reuters|access-date=2008-11-15|archive-url=https://web.archive.org/web/20110711062136/http://www.fxstreet.com/news/forex-news/article.aspx?storyid=2d219484-b53e-413f-8b96-af2fbf92548b|archive-date=11 July 2011|url-status=dead}}</ref>
==Petroleum== thumb|right|235px|An Idemitsu service station in Japan Idemitsu operates 5,250 service stations, many under the Apollo brand.<ref name="hoovers">{{cite web|url=http://www.hoovers.com/idemitsu-kosan/--ID__52325--/free-co-profile.xhtml|title=Idemitsu Kosan - Company Description - Hoover's|publisher=Hoover's|access-date=2008-11-13}}</ref>
==Petrochemical products== Idemitsu Petrochemical runs two petrochemical plants in Chiba and Tokuyama. It produces a variety of basic chemicals supplied to chemical industries, in Japan and abroad. In Europe it markets through Idemitsu Chemicals Europe PLC. Basic chemicals produced includes olefins such as ethylene and propylene, and aromatics like benzene, para-xylene and styrene monomer. It is also a supplier of plastics for uses such as CD pressing and circuit boards.<ref name="Business" /><ref>{{cite web|url=http://www.idemitsu.co.jp/e/petrochemicals/index.html|title=Petrochemicals - Idemitsu Kosan|access-date=2008-11-15 |archive-url = https://web.archive.org/web/20080731143359/http://www.idemitsu.co.jp/e/petrochemicals/index.html <!-- Bot retrieved archive --> |archive-date = 2008-07-31}}</ref> The two naphtha crackers can produce up to 997,000 tonnes of ethylene per year.<ref>{{cite news |url=https://www.reuters.com/article/rbssEnergyNews/idUST31880120081104|title=Japan's Idemitsu cuts ethylene plants run from Nov|last=Tsukimori|first=Osamu|date=4 November 2008|publisher=Reuters|access-date=2008-11-15}}</ref>
Lubricants, Idemitsu's first product is a major area.<ref name="Outline" /> It also produces fluorescent materials for OLED displays.<ref>{{cite news|url=http://www.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20061213005281&newsLang=en|title=Idemitsu Kosan Co., Ltd. and Universal Display Corporation Announce Collaboration to Accelerate Development of Blue Phosphorescent OLED Materials|date=13 December 2006|publisher=Business Wire (press release)|access-date=2008-11-21}}</ref> A joint venture with German company BASF, BASF Idemitsu Co. Ltd., produces 1,4-Butanediol for the Japanese market at Idemitsu's Chiba plant.<ref>{{cite news|url=http://www.allbusiness.com/asia/986137-1.html|title=BASF and Idemitsu restructure BDO business in Japan|date=1 August 2003 |publisher=Asian Textile Business |access-date=2008-11-21}}</ref> Idemitsu also produces some medical drugs.<ref name="Britannica" />
== Intellectual property == Following a 2009 cross-licensing agreement between LG Display Co., Ltd. and Idemitsu Kosan's OLED materials business,<ref>{{cite web|title=LG Display Forms Strategic Alliance with Idemitsu Kosan for AMOLED|url=http://lgdnewsroom.com/press_releases/560|work=LG Newsroom|access-date=31 December 2013|archive-date=1 January 2014|archive-url=https://web.archive.org/web/20140101084009/http://lgdnewsroom.com/press_releases/560|url-status=dead}}</ref> Idemitsu Kosan purchased a 32.73% stake<ref name="32 percent">{{cite web|title=Idemitsu Kosan has bought 32% in LG's Global OLED Technology|url=http://www.oled-info.com/idemitsu-kosan-has-bought-32-global-oled-technology-llc|work=OLED-Info.com|access-date=31 December 2013}}</ref> in Global OLED Technology LLC in June 2010.<ref>{{cite web|title=Idemitsu Kosan acquires stake in LG Group OLED patent business |url=http://www.osa-direct.com/osad-news/idemitsu-kosan-acquires-stake-in-lg-group-oled-patent-business.html |archive-url=https://web.archive.org/web/20140101141947/http://www.osa-direct.com/osad-news/idemitsu-kosan-acquires-stake-in-lg-group-oled-patent-business.html |url-status=dead |archive-date=1 January 2014 |work=The OSA Direct Newsletter |access-date=31 December 2013 }}</ref> For $100 million,<ref name="32 percent" /> LG purchased Kodak's organic light emitting diode business in December 2009<ref>{{cite web|last=Miller|first=Paul|title=Kodak selling OLED display business to LG, cross-licensing like there's no tomorrow|url=https://www.engadget.com/2009/12/04/kodak-selling-oled-display-business-to-lg-cross-licensing-like/|work=Engadget|access-date=31 December 2013}}</ref> and created Global OLED Technology<ref>{{cite web|title=Who We Are|url=http://www.globaloledtech.com/global-oled-technology.html|work=Global OLED Technology LLC |access-date=31 December 2013}}</ref> to administer and develop a portfolio of 2,200 patents based on Kodak research.<ref>{{cite web|title=What We Do |url=http://www.globaloledtech.com/what-we-do.html|work=Global OLED Technology LLC|access-date=31 December 2013}}</ref>
==Other energy sources== * A subsidiary, Idemitsu Alaska Inc., held the original permit for the Wishbone Hill coal mine in south-central Alaska, from 1991 to 1995.<ref>{{Cite web|url=http://www.adn.com/article/20141128/feds-scold-state-usibelli-permit-renewals|title = Feds scold state on Usibelli permit renewals}}</ref> The permit is currently held by Usibelli Coal Mine, Inc.<ref>{{cite web |url=http://www.usibelli.com/Coal-Wishbone-Hill.php |title=Usibelli Coal Mine - Coal: Wishbone Hill Project |access-date=2014-12-01 |url-status=dead |archive-url=https://web.archive.org/web/20150216174727/http://www.usibelli.com/Coal-Wishbone-Hill.php |archive-date=2015-02-16 }}</ref> * The company owns four coal mines in Australia producing 10 million tons per year.<ref name="Outline">{{cite web|url=http://www.idemitsu.co.jp/e/company/outline.html|title=Outline - Company info - Idemitsu Kosan|access-date=2008-11-15 |archive-url = https://web.archive.org/web/20080617213203/http://www.idemitsu.co.jp/e/company/outline.html <!-- Bot retrieved archive --> |archive-date = 2008-06-17}}</ref> * It participates in a uranium mine development in Cigar Lake Mine in Canada.<ref name="Outline" /> * Idemitsu is working on geothermal power in Ōita Prefecture, Japan. The plant will use a binary power generation system that produces electricity from both the steam with a regular turbine and from hot water by vaporizing pentane which then drives a turbine.<ref>{{cite news|url=http://www.accessmylibrary.com/coms2/summary_0286-20750083_ITM|title=Japan's Idemitsu Kosan to build geothermal power plant.|date=19 March 2004|publisher=Asia Pulse via Asia Africa Intelligence Wire and Nikkei|access-date=2008-11-15}}</ref> * Together with Mitsubishi Corporation, Idemitsu plans to mass-produce biofuel from non food crops, using a method developed by Honda and the Research Institute of Innovative Technology for the Earth for converting rice straw and weeds to ethanol fuel. The factory will likely be placed in North America, China or Southeast Asia, where the raw materials are available for a low price.<ref>{{cite web|url=https://www.forbes.com/afxnewslimited/feeds/afx/2008/06/19/afx5136264.html|title=Japan's Idemitsu Kosan, Mitsubishi to mass produce non-food biofuel|last=Seki|first=Yasuhiko|date=19 June 2008|publisher=Thomson Financial via Forbes|access-date=2008-11-15}}{{dead link|date=January 2022|bot=medic}}{{cbignore|bot=medic}}</ref>
==Advertisement and sponsorship== * Idemitsu Museum of Arts, two art museums, in Tokyo and Moji, where Idemitsu & Co. was started. * {{Nihongo|Idemitsu Music prize|出光音楽賞|[http://www.idemitsu.co.jp/music_prize/information.html] }} * {{Nihongo|Idemitsu Ihatove Trial|出光イーハトーブトライアル|[http://www.idemitsu.co.jp/ihatove/information.html][http://www.sukaheru.net/~ihatove/]}}, a motorcycle trial * Ultra Idemitsujin, Ultraman characters used in TV commercials. * LCR Honda Idemitsu, competing in the MotoGP class of motorcycle racing. * Title sponsor of the IMSA Idemitsu Mazda MX-5 Cup
== See also == * {{Portal-inline|Companies}}
==References== {{Notelist}} {{reflist}}
==External links== * [http://www.idemitsu.co.jp/e/index.html Idemitsu Kosan] {{in lang|en}} * [http://www.idemitsu.co.jp/index.html Idemitsu Kosan] {{in lang|ja}}
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Category:Oil companies based in Tokyo Category:Chemical companies based in Tokyo Category:Energy companies established in 1911 Category:Automotive fuel retailers Category:Japanese brands Category:Non-renewable resource companies established in 1911 Category:1911 establishments in Japan Category:Chiyoda, Tokyo