IDEMITSU KOSAN CO. Business Summary

Idemitsu Kosan Co., Ltd. (IDKOY) operates a vertically integrated energy and materials business model, generating revenue through the production, refining, global trading, and retail distribution of petroleum products, basic chemicals, and renewable energy solutions. The company’s operations are organized into five core segments: Fuel Oil, which manages the bulk of its refining and service station network; Basic Chemicals, focused on olefins and aromatics; High-Functional Materials, encompassing high-performance lubricants, electronic materials, and agri-bio products; Power & Renewable Energy, covering solar, wind, and geothermal power generation; and Resources, which handles the exploration and extraction of oil, gas, and coal. As Japan’s second-largest oil refiner, Idemitsu Kosan maintains a dominant domestic position while aggressively pivoting toward a carbon-neutral portfolio by 2050, competing directly with ENEOS Holdings, Japan Petroleum Exploration (JAPEX), and global majors such as ExxonMobil and Shell. Originally founded in 1911 by Sazo Idemitsu, the company is currently led by President and Chief Executive Officer Noriaki Sakai, who assumed the role in April 2025 to spearhead the firm’s "Shaping Change" sustainability transition. He is supported by Chairman Shunichi Kito, the former CEO who now oversees long-term strategic governance, and Executive Vice Presidents Atsuhiko Hirano and Masahiko Sawa. Financial operations are directed by Managing Executive Officer and CFO Takashi Sakata, while Soichi Kobayashi serves as the Chief Digital Officer, overseeing the integration of AI and digital transformation across the group’s refineries and supply chains. The leadership team is characterized by deep institutional expertise, with a board that includes descendant Masakazu Idemitsu and prominent outside directors such as Takeo Kikkawa, ensuring a balance between the company's traditional "human-centric" management philosophy and modern ESG-driven corporate governance.