Creating Value

Business History Idemitsu and Showa Shell have been working to ensure a stable energy supply for over 100 years. We will continue to create new values together with all stakeholders based on our Management Vision and Action Mindset.

1911 1938 1953 Idemitsu Shokai founded in Moji Launch of large tanker Nissho Maru (first generation) Import of products from (Fukuoka Prefecture) (Nissho Maru Incident) 1940 Idemitsu Kosan Co.,Ltd. established

1919 1957 Development of non-freezing axle oil for Tokuyama Refinery completed South Railway in China 1945 (currently, Tokuyama Complex) Idemitsu Disappearance of operations at home and abroad due to Japan's defeat in World War II 1963 Chiba Refinery completed 1947 (currently, Chiba Complex) Idemitsu returns to the oil business as 29 of its outlets across Japan are named retailers for the 1964 Oil Distribution Public Corporation Idemitsu Co., Ltd. Merger of Idemitsu Shokai and Idemitsu Kosan established, Tokuyama Plant completed (currently, Tokuyama Complex) Co.,Ltd. 1923 Distribution ships equipped with measuring 1949 1967 instruments were devised, and supply of Designated as a primary oil distributor Launch of "Idemitsu 100 Gasoline" marine oil for fishing vessels commenced 1952 Launch of high-octane gasoline "Apollo Gasoline"

1914 Outbreak of World War I (ended in 1918) 1939 Outbreak of World War II 1946 Promulgation of the Major social Constitution of Japan trends 1923 The Great Kanto Earthquake occurred. 1941 Outbreak of the Pacific War (ended in 1945)

1900 1910 1920 1930 1940 1950 1960

1899 Implementation of petroleum product tariffs 1943 Petroleum Monopoly Law promulgated Major industry and enforced (abolished in 1946) trends 1955 The Petroleum Association 1903 Implementation of oil consumption tax of Japan established

1833 1909 1948 Marcus Samuel opened a shop in London Saitozaki Refinery of Rising Sun Rising Sun Petroleum Co., Ltd. selling oriental seashells, the origin of Shell's Petroleum Co., Ltd. completed renamed to Shell Sekiyu K.K. trademark (Later, it was leased to Asahi Petroleum), commenced refining of diesel oil, kerosene, 1949 1876 and lubricants Showa Oil Co., Ltd. and Samuel Company, the predecessor of Rising Shell Sekiyu K.K. Sun, began trading business in Yokohama 1917 designated as primary oil distributors (Kanagawa Prefecture) Launch of "Red Shell Symbol" and "Black Shell Symbol" brand gasolines for automobiles 1951 1893 Shell Group and Showa Oil Co., Ltd. Import of kerosene in bulk, entered into capital alliance for the first time in Japan (spread of kerosene) 1955 1900 Kawasaki Refinery of TOA Oil Co., Ltd. Samuel Company spun off its petroleum completed Showa Shell business and established Rising Sun Petroleum Co., Ltd. 1924 1957 Nippon Juyu Co., Ltd. established to sell Showa Yokkaichi Sekiyu Co., Ltd. imported heavy fuel oil established (currently, TOA Oil Co., Ltd.) Rising Sun Petroleum Co., Ltd. 1958 imported tank trucks from the United Yokkaichi Refinery Kingdom for the first time of Showa Yokkaichi Sekiyu 1942 Co., Ltd. Showa Oil Co., Ltd. was established through completed 1907 the merger of Hayama Petroleum, Rising Sun Petroleum Co., Ltd. Asahi Petroleum and Niitsu Petroleum 1962 began business development as a base of the Seibu Oil Co., Ltd.established Shell Group in Japan.

3 Idemitsu Integrated Report 2019 1970 1993 2004 Central Research Laboratories opened Launch of low gasoline Idemitsu Kosan Co.,Ltd. merged with (currently, Advanced Technology "Idemitsu Super Zearth (high octane)" Idemitsu Petrochemical Co., Ltd. Research Laboratories) and "Idemitsu Zearth (regular)" 2006 1973 Stock listed on First Section of the Refinery completed Astomos Energy Corporation established 1975 1996 Chiba Plant of Idemitsu Launch of automobile engine oil Petrochemical Co., Ltd. completed "Idemitsu Zepro" (currently, Chiba Complex) Aichi Refinery completed

1983 Launch of "Idemitsu Unleaded Gold Apollo Gasoline" 2010 1988 Commencement of import of Australian Participation in Futamata Wind Development Co., Ltd. coal with our interests Takigami Power Station of Idemitsu Oita Geothermal Co., Ltd. began operation 2015 Tosa Power Plant of Tosa Green Power Co., Ltd. began 1992 Production began at Snorre Oilfield in the operation Norwegian Lubricants production plant completed 2018 in the U.S. Nghi Son Refinery in began commercial operation

2015 Signed a memorandum of understanding for the business integration

1964 The Niigata Earthquake occurred, 1995 The Great Hanshin-Awaji 2011 The Great East Japan Earthquake occurred the Tokyo Olympics were held Earthquake occurred. 2015 Paris agreement adopted at COP 21 1973 First oil crisis 1979 Second oil crisis 1998 The Nagano Olympics were held SDGs adopted at UN Sustainable Development Summit 2019 1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 Business integration 2009 The Sophisticated Methods of Energy Supply Structures enforced, 1962 The Petroleum Industry Law enforced (abolished in 2001) Feed-in tariff law for renewable energy introduced 1976 The Oil Stockpiling 1986 The Act on Designated Petroleum Products enforced (Provisional Measures Law on 2016 Full deregulation of Act enforced Importation of Specific Kinds of Petroleum Refined Products) (abolished in 1996) the retail electricity

1963 1993 2005 Lubricants plant of Shell Sekiyu K.K. Commenced research and Entered into a purchasing agreement for petroleum completed in Yokohama (Kanagawa development on CIS solar cells products with Fuji Oil Co., Ltd. Prefecture) 1996 2006 1967 Launch of the highest-grade automobile oil Showa Shell Solar K.K. Central Research Laboratories "Shell Helix Series," established opened(currently, Advanced (currently, Technology Research Laboratories) Solar Frontier K.K.).

1969 Yamaguchi Refinery of Seibu Oil Co., Ltd. completed 2010 Ohgishima Power Station, a natural gas power 1978 station, began commercial operation Commenced research and development of solar technologies 2002 2014 Launch of high-octane gasoline "Shell V-Power" 1985 Launch of high-octane Shell Sekiyu K.K. and Showa Oil Co., Ltd. gasoline "Shell Pura" merged to become K.K.

1987 Launch of groundbreaking high-octane 2015 gasoline "Formula Shell Super X" Keihin Biomass Power Plant 2003 began commercial operation. Genex Mizue Power Station began operation and power sales 2016 (currently, Mizue Power Station of Commenced retail sales of TOA Oil Co., Ltd.) low-voltage electricity

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