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History

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
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
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
Consumption tax to be raised to 8% 2014 Tokuyama Refinary closed
Announcement of LPG Export from Ferndale Washington LPG Terminal
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