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- Mitsui & Co., Ltd.
Corporate Communications Division
Mitsui & Co., Ltd. ("Mitsui") announced today that it has signed an agreement with Sanki Engineering Co., Ltd. ("Sanki") to purchase 0.68% of the total issued shares of Mitsui Oil Exploration Co., Ltd. ("MOECO"). With this purchase, Mitsui's voting interest in MOECO will increase from 50.34% to 51.03%.
Mitsui has positioned MOECO as one of the core subsidiaries of its energy upstream business. Mitsui's acquisition of the MOECO shares from Sanki is in line with its strategy to increase its competitiveness through MOECO under the current fierce global competition for oil and gas upstream assets.
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.