Japan’s refining sector set for massive reorganization

摘要

The Japan Fair Trade Commission has approved the plannedrnconsolidations of JX Holdings and TonenGeneral as well asrnIdemitsu Kosan and Showa Shell, paving the way for anrnindustry-changing reorganization of Japan’s refining sector.rnConsolidations to take place are Idemitsu Kosan’s plannedrnacquisition of Showa Shell’s shares with voting rights of morernthan 20%, and JX Holdings’ acquisition of TonenGeneral’srnshares with voting rights of more than 50%, the FTC said.