Mitsui to Sell Its Entire Shares in MITSUI OIL CO., LTD to TonenGeneral

LONDON--()--

This announcement is for our U.S. $5,000,000,000 Euro Medium Term Note Programme.

December 18, 2013

For Immediate Release

To whom it may concern

Mitsui to sell its entire shares in MITSUI OIL CO., LTD to TonenGeneral

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President & CEO: Masami Iijima) announced today that it has reached an agreement with TonenGeneral Sekiyu K. K. ("TonenGeneral", Head Office: Tokyo, President: Jun Mutoh) to sell its entire shares (8,993,000 shares, representing 89.93% of the total issued and outstanding shares) in MITSUI OIL CO., LTD (“Mitsui Oil”), a subsidiary engaged in refining and sales of oil products.

The transfer price of Mitsui Oil shares is ¥24.9 billion. In addition, Mitsui will receive ¥17.2 billion in the form of dividends from Mitsui Oil, prior to the transfer of Mitsui Oil shares. Subject to the satisfaction of certain conditions stipulated in the agreement, this transfer is scheduled to be executed on February 4, 2014.

Mitsui has also reached an agreement with Exxon Mobile Bay Limited Partnership, a 100% subsidiary of Exxon Mobil Corporation, to purchase 36,000,000 shares in TonenGeneral (representing approximately 6.37% of the total issued and outstanding shares, or 9.99% of voting rights) for ¥33.6 billion. Mitsui will seek to deepen its cooperative relationship with TonenGeneral through the continued transaction of crude oil and petroleum products.

1. Outline of Mitsui Oil

Corporate name   MITSUI OIL CO., LTD
Address 1-3-1, Uchisaiwaicho, Chiyoda-ku, Tokyo, Japan
Representative Tsuneyoshi Doi, President
Main Business Sales of petroleum products
Amount of Capital ¥3.0 billion (as of March 31, 2013)
Establishment February 18, 1961
Major Shareholders Mitsui & Co., Ltd. 89.93%

Sumitomo Mitsui Banking Corporation 1.95%

Sumitomo Mitsui Trust Bank, Limited 1.95%

Mitsui O.S.K. Lines, Ltd. 1.55%

Mitsui Engineering & Shipbuilding Co., Ltd. 1.15%

6 other Mitsui Group companies 3.47%

 
Financial Highlights (Consolidated)
    As of

March 31, 2011

  As of

March 31, 2012

  As of

March 31, 2013

Total Equity ¥31,409 million ¥35,205 million ¥38,149 million
Total Assets ¥107,158 million ¥116,511 million ¥109,869 million
Sales ¥433,786 million ¥488,479 million ¥367,505 million
Operating income ¥13,209 million ¥7,080 million ¥3,390 million
Ordinary income ¥17,120 million ¥8,089 million ¥4,907 million
Net income ¥8,935 million ¥4,792 million ¥3,534 million

2. Outline of TonenGeneral

Corporate name   TonenGeneral Sekiyu K. K.
Address 1-8-15, Konan, Minato-ku, Tokyo
Representative Jun Mutoh, President
Main Business Crude and petroleum product export, petroleum and petrochemical product manufacturing, processing and sales.
Amount of Capital ¥35.1 billion
Establishment July 26, 1947
Major Shareholders

(as of June 30, 2013)

Exxon Mobile Bay Limited Partnership 14.15%

Japan Trustee Services Bank, Ltd. (Trust account) 1.91%

The Master Trust Bank of Japan, Ltd. (Trust account) 1.79%

Financial Highlights (Consolidated)
  As of

December 31, 2010

  As of

December 31, 2011

  As of

December 31, 2012

Total Equity ¥248,295 million ¥359,473 million ¥288,384 million
Total Assets ¥906,846 million ¥1,113,517 million ¥1,385,014 million
Sales ¥2,398,718 million ¥2,677,115 million ¥2,804,929 million
Operating income ¥33,528 million ¥216,191 million ¥27,298 million
Ordinary income ¥37,011 million ¥217,552 million ¥22,529 million
Net income ¥42,873 million ¥132,779 million ¥54,770 million

For further information, please contact: Mitsui & Co., Ltd.

Investor Relations Division Tel: +81-3-3285-7910

Corporate Communications Division Tel: +81-3-3285-7540

Notice:

This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements. This announcement 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.

For diagrams omitted, please see our home page. (http://www.mitsui.com/jp/en/release/2013/1201737_4686.html)

Short Name: Mitsui & Co., Ltd.
Category Code: MSC
Sequence Number: 401710
Time of Receipt (offset from UTC): 20131218T074930+0000

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