History
- Early Years: Beginning 1911
- Postwar Recovery: Beginning 1945
- Rapid Economic Growth: Beginning 1959
- Petroleum-Industry Turbulence: Beginning 1970
- Deregulation: Beginning 1980
- Intense Competition: Beginning 1990
- Demand/Supply Structural Changes: Beginning 2000-
Early Years: Beginning 1911
World History | Year | Idemitsu History |
---|---|---|
1911 | Idemitsu Shokai founded in Moji | |
Outbreak of First World War | 1914 | Sales channel opened up overseas (former Manchuria) |
Great Kanto Earthquake | 1923 | |
Outbreak of Second World War | 1939 | |
1940 | Idemitsu Kosan Co.,Ltd. incorporated | |
Outbreak of Pacific War | 1941 | |
War ends with acceptance of Potsdam Declaration GHQ establishes Petroleum Advisory Group (dissolved 1951) |
1945 | Overseas branches closed, repatriation begins |
Postwar Recovery: Beginning 1945
World History | Year | Idemitsu History |
---|---|---|
GHQ prohibits operation of Pacific coast oil refineries | 1946 | |
Oil Distribution Public Corporation established | 1947 | Idemitsu returns to the oil business as 29 of its outlets across Japan are named retailers for the Oil Distribution Public Corporation |
Primary oil distributor system established with 10 companies named as suppliers Gasoline tax implemented GHQ permits resumption of operation of Pacific coast oil refineries | 1949 | Idemitsu named a primary oil distributor |
Outbreak of Korean War | 1950 | |
Iran nationalizes oil industry San Francisco Peace Treaty signed |
1951 | Nissho Maru (second generation) commissioned "Return to the principle of Customers First" issued |
1952 | Import of high-octane gasoline from the United States for sale under the Apollo Gasoline brand begin | |
Japanese government encourages shift of heating energy source from coal to petroleum | 1953 | Oil imported from Iran (Nissho Maru Incident) |
Iran Consortium established | 1954 | |
Petroleum Association of Japan established | 1955 | New York office opened |
Egypt closes Suez Canal (to reopen April 1957) Age of mammoth tankers begins Gas oil delivery tax implemented |
1956 | |
1957 | Tokuyama Refinery completed, Idemitsu enters the oil refining business |
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Arabian Oil Co., Ltd. established | 1958 |
Rapid Economic Growth: Beginning 1959
World History | Year | Idemitsu History |
---|---|---|
Japan's first petrochemical complex opens in Yokkaichi | 1959 | First import of crude oil from Soviet Union |
Organization of Petroleum Exporting Countries (OPEC) formed | 1960 | |
1961 | Apollo Service Co., Ltd. established | |
Petroleum Industry Law enacted, production restrictions through administrative guidance begin Liberalization of crude-oil importsa Standard prices of petroleum products announced (discontinued February 1966) | 1962 | Munakata Kaiun Co., Ltd. established Idemitsu Tanker Co.,Ltd. established Nissho Maru (third generation), world's first ultra-large 140,000-ton supertanker, commissioned |
1963 | Chiba Refinery completed Idemitsu withdraws from the Petroleum Association of Japan (later to rejoin in October 1966) | |
Tokyo Olympics held Kyodo Oil (now Japan Energy) established | 1964 | Idemitsu Petrochemical Co., Ltd. established, Tokuyama Plant completed |
Restrictions on oil production abolished | 1966 | Central Training Center opens Idemitsu Museum of Arts opens Idemitsu Maru, the world's first 200,000-ton class oil tanker (210,000 tons), commissioned |
Pollution Countermeasures Basic Law promulgated | 1967 | World's first heavy oil direct-desulfurization equipment completed at the Chiba Refinery |
Air Pollution Prevention Law promulgated | 1968 | Lubricants Research Laboratory opens |
Petroleum-Industry Turbulence: Beginning 1970
World History | Year | Idemitsu History |
---|---|---|
Lead-pollution issues arise | 1970 | Lubricants refining equipment completed at Chiba Refinery Central Research Laboratories open Hyogo Refinery completed |
Tehran Agreement concluded U.S. announces measures to defend the dollar | 1971 | IAC established Idemitsu Japan Sea Oil Development Co., Ltd. established(renamed Idemitsu Oil Development Co., Ltd. in 1976) |
Geneva Agreement concluded Diplomatic relations normalized between Japan and People's Republic of China Riyadh Agreement concluded |
1972 | |
Outbreak of Fourth Middle East War (Yom Kippur War) First oil crisis Second petroleum law enacted, emergency declared |
1973 | First import of crude oil from China (Daqing) Middle East Office established in Beirut Tehran Office reopened Hokkaido Refinery completed |
Japan Fair Trade Commission levels accusations at Petroleum Association of Japan and primary oil distributors Prices of petroleum products increased under administrative guidance Conference of oil-consuming countries held |
1974 | Kuwait Office established |
Unleaded gasoline introduced | 1975 | Unleaded Red Appolo Gasoline introduced Idemitsu Petrochemical Co., Ltd. Chiba Plant completed Aichi Refinery completed, Abu Dhabi Office (now Middle East Office) established |
Petroleum Reserve Law enacted | 1976 | Production begins at Agaoki Oil and Gas Field, Japan's first undersea oil field |
Gasoline Retail Business Law enacted | 1977 | IIA established, Singapore Office opened (closed December 1980) |
Political instability in Iran Second oil crisis Iranian revolution | 1979 |
Deregulation: Beginning 1980
World History | Year | Idemitsu History |
---|---|---|
Outbreak of Iran-Iraq War (ceasefire agreed August 1988) | 1980 | Canada Office established |
1983 | Idemitsu unleaded Gold Apollo gasoline introduced Idemitsu Engineering Co., Ltd. established | |
1984 | Japan's first heavy gas oil hydrogenated cracking unit completed at Hokkaido Refinery | |
Plaza Accord IEA discusses issues on trading in products from Middle Eastern oil refineries Showa Shell Sekiyu established | 1985 | |
The Provisional Measures Law on the Importation of Specific Kinds of Petroleum Refined Products (Specific Petroleum Law) enacted Cosmo Oil established |
1986 | Idemitsu Credit Co., Ltd. established Alkylation unit completed at Aichi Refinery, Idemitsu New Gold Apollo Gasoline introduced |
Petroleum industry deregulation action program begins | 1987 | IIE established Japan's first heavy oil fluid catalytic cracking unit completed at Aichi Refinery Idemitsu 100 Gasoline introduced |
Gasoline production quotas (PQ) system abolished Consumption tax enacted U.S.-Soviet Malta Summit held, marking end of Cold War | 1989 | Idemitsu Nagahori Building, the first high-rise building built atop a service station, completed Method of deciding on petroleum-product prices on a monthly basis begins Idemitsu Oil & Gas Co., Ltd. established |
Intense Competition: Beginning 1990
World History | Year | Idemitsu History |
---|---|---|
Service-station construction regulations eased Iraq invades Kuwait | 1990 | Idemitsu Music Award established |
Outbreak of Persian Gulf War Guidance on crude-oil processing discontinued |
1991 | Service stations opened in Portugal (1991 - 1999) Beijing Office, Muscat Office established |
Earth Summit held | 1992 | Service stations opened in Puerto Rico (1992 - 2001) Lubricants production plant completed in the U.S. Production begins at the Snorre Field in the Norwegian North Sea |
Nikko Kyodo Co., Ltd.(now Japan Energy) established | 1993 | Idemitsu Zearth and Super Zearth introduced |
Treaty on European Union (Treaty of Maastricht) takes effect North American Free Trade Agreement (NAFTA) takes effect |
1994 | Dhahran Office established Production begins at Ensham Coal Mine in Australia Heavy oil cracking unit completed at Hokkaido Refinery |
Great Hanshin Earthquake Product Liability (PL) Law enacted |
1995 | Japan's first double-hull VLCC, Super Zearth, built |
Specific Petroleum Law abolished, Petroleum-Related Adjustments Act enacted Petroleum Association of Japan collects signatures on an increase in consumption tax |
1996 | Petroleum products shift to a new pricing structure Zearth earns Eco Mark product certification Idemitsu Oita Geothermal Co., Ltd. begins supply of steam All Idemitsu refineries and plants earn ISO 9001 and ISO 9002 certification Apollo-branded service station opens in Dalian, China |
Systemic changes made toward liberalization of exports of petroleum products Kyoto Conference on Climate Change held |
1997 | Idemitsu begins bulk supply of liquefied petroleum (LP) gas |
Self-service service stations legalized in Japan International industry reorganization advances as Exxon and Mobil agree to a merger Tokyo Commodity Exchange begins trading in gasoline and kerosene futures Nisseki Mitsubishi (now JX Nippon Oil & Energy) established |
1998 | All Idemitsu refineries and plants earn ISO 14001 certification New Business Development Office established |
Demand/Supply Structural Changes: Beginning 2000-
World History | Year | Idemitsu History |
---|---|---|
TonenGeneral Sekiyu established | 2000 | Preferred shares issued in capital increase to 38.8 billion yen Successful commercialization of CVT traction oil Fuel-cell project established |
2001 | Head office earns ISO 14001 certification Idemitsu Gas and Life Co., Ltd. established |
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Petroleum Industry Law abolished | 2002 | Electronic Materials Office established Energy Solution Business Office established |
U.S. and British forces begin attack on Iraq Amendments to the Act on the Quality Control of Gasoline and Other Fuels permit content of alcohol and other additives in gasoline at up to 3% for ethanol and up to 1.3% for other oxygenated compounds |
2003 | Hyogo Refinery closed Hokkaido Refinery crude-oil and naphtha tanks damaged by fire resulting from earthquake off the coast of Tokachi Idemitsu Credit and Credit Saison merge through comprehensive partnership (ownership: 50%) Businesses of Munakata Kaiun and Asahi Tanker merged Okinawa Sekiyu Seisei Co., Ltd. closed |
Act on the Japan Oil, Gas and Metals National Corporation, Independent Administrative Agency enacted System instituted of labeling total prices including consumption tax Islamic extremists attack U.S. oil companies in Al Khobar, Saudi Arabia Authority in Iraq transferred from Coalition Provisional Authority to provisional Iraq government |
2004 | Mitsui Chemicals, Inc. and Idemitsu Petrochemical announce merger of polyolefin businesses Idemitsu Kosan Co.,Ltd. merges with Idemitsu Petrochemical Co., Ltd. |
Kyoto Protocol takes effect Hurricane Katrina strikes London bombings Bali bombings |
2005 | Idemitsu Aviation Co., Ltd. established Prime Polymer Co., Ltd. established Capital increase through third-party allocation of shares and paid-in retirement of preferred shares implemented |
Livedoor scandal Nippon Oil and Japan Energy form partnership in development, refining, logistics, and other operations |
2006 | Businesses of Idemitsu Gas and Life Co., Ltd. and Mitsubishi Liquified Gas Co. merged Idemitsu Unitech Co., Ltd. absorbs Idemitsu Plastics Co., Ltd. Stock listed on First Section of the Tokyo Stock Exchange |
Pension-related issues arise Food mislabeling scandals |
2007 | |
Crude-oil prices rise Financial instability arises in response to subprime-loan issues |
2008 | Idemitsu Kosan President Akihiko Tembo named President of the Petroleum Association of Japan Fuel-oil pricing method changed (to market-linked pricing) |
New strain of influenza spreads worldwide Democratic Party of Japan victorious in 45th elections to House of Representatives and forms new government |
2009 | Okinawa Idemitsu Co., Ltd. established Akihiko Tembo named Chairman, Kazuhisa Nakano named President |
Massive earthquakes occur in Haiti (magnitude 7) and Chile (magnitude 8.8) Accident results in oil leak in Gulf of Mexico |
2010 | Chiba Chemicals Manufacturing LLP established to achieve joint operation of ethylene complex |
Occurrence of the Great East Japan Earthquake. | 2011 | Idemitsu marked the 100th anniversary of its founding. Announcement of decision to stop crude oil processing function of Tokuyama Refinery until 2014. |
The Liberal Democratic Party won by an overwhelming majority for the 46th general election for the Lower House, and came back into power. Mr.Barack Obama was re-elected as U.S.President Rekindling financial crisis in Europe, especially in Greece and Spain. |
2012 | Yellow Hat Ltd. and Idemitsu Kosan Co.,Ltd formed capital and business alliance. Issuance of Unsecured Straight Bonds. (Total amount of issue : \20 billion) Conclusion of a Memorandum of Understanding with the Government of Cambodia on Bioethanol Production. |
2013 | Anouncement of Final Invest Decision on Nghi Son Refinery/Petrochemical Complex. Announcement of Fourth Consolidated Medium-Term Management Plan (FY2013-2015). Kazuhisa Nakano named Chairman, Takashi Tsukioka named President |
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Consumption tax raised to 8% | 2014 | Tokuyama Refinary closed Announcement of LPG Export from Ferndale Washington LPG Terminal |
Paris Agreement adopted at COP21 | 2015 | The discussion of the Business Integration with Showa Shell Sekiyu K.K. has been started. |
The Trans-Pacific Partnership (TPP) signed among 12 countries. The UK voted to leave European Union |
2016 | Acquisition of shares of Showa Shell Sekiyu K.K. from Royal Dutch Shell has been completed. |
US President Donald Trump announced its withdrawal from Paris Agreement | 2017 | “Brighter Energy Alliance” with Showa Shell Sekiyu K.K. has started, intended to accelerate the integration. |
US President Donald Trump and North Korea’s supreme leader Kim Jong-un had the first summit in Singapore | 2018 | Share Exchange Agreement between Idemitsu Kosan Co., Ltd and Showa Shell Sekiyu K.K. has been approved at extraordinary shareholder meeting |
2019 | The Business Integration with Showa Shell Sekiyu K.K. has been implemented. | |
2023 | Sale of its stake in the Ensham coal mine in Australia. |
- Idemitsu Shokai Founded in Moji
- Overseas Branches Closed, Repatriation Begins
- Importing High-Octane Gasoline from the United States
- The Nissho Maru Incident: Challenging the Dominance of the Major Oil Firms
- Construction of Mammoth Tankers
- Completion of the Tokuyama Refinery
- Chiba Refinery Completed/Idemitsu Withdraws from the PAJ
- Idemitsu Enters the Oil Exploration and Production
- The First Oil Crisis and Advancing Overseas
- Specific Petroleum Law Abolished
- The Establishment of Idemitsu Credit and Development of the Credit-Card Business
- Outbreak of the Gulf War
- Introduction of Low-Benzene Gasoline