KYODO, STAFF REPORT: 13 October 2016:
Oil distributors Idemitsu Kosan Co. and Showa Shell Sekiyu K.K. have decided to postpone their planned April merger as Idemitsu has yet to gain consent for the deal from the founding family, sources close to the matter said Thursday.
Idemitsu, the nation’s second largest wholesaler, and Showa Shell, the fifth biggest, were expected to announce the decision later in the day, according to the sources.
Idemitsu and Showa Shell originally revealed a plan to merge in 2015. But the progress of the merger has become increasingly uncertain after Idemitsu founding members, who hold a 34 percent stake, enough to veto the merger, announced their opposition to the plan in June.
Idemitsu management still hopes to persuade the founding family to approve the merger, although its representatives have refused requests for talks with management since July, according to the sources.
The founding family, including Honorary Chairman Shosuke Idemitsu, opposes the merger, citing differences in corporate culture, among other things.
The family opposes the merger partly because of Showa Shell’s close ties with Saudi Arabia, according to earlier media reports.
Idemitsu Kosan has maintained a close relationship with Iran and descendants of the company’s founder are concerned about the merger amid intensifying tensions between the two countries, the reports said.
Idemitsu is nevertheless expected to purchase a 33.3 percent stake in Showa Shell from Royal Dutch Shell PLC this month or in November, the sources said.
Given the latest development, shares of the two companies dropped Thursday at the Tokyo Stock Exchange, with Idemitsu closing the day’s trading at ¥2,251, down 2.6 percent, and Showa Shell falling 4 percent to ¥950.
Japan’s oil industry has seen a shake-up through acquisitions and mergers in the face of declining demand due to Japan’s decreasing population and the increasing popularity of fuel-efficient vehicles in recent years.
Against this backdrop, JX Holdings Inc. and TonenGeneral Sekiyu KK finalized an agreement to merge and create Japan’s biggest oil refiner from April next year.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
