• Message From Management
• Company Overview
• Management Vision
• Outline of the Oil Business
• Press Release

We have determined to enter into a strategic partnership with International Petroleum Investment Company ("IPIC") and to allot new shares (176,000,000 shares, which is equivalent to approximately 20% of total number of outstanding shares and latent shares of the Company) to IPIC as announced by "Strategic Partnership with International Petroleum Investment Company" as of today. We hereby announce our views on the strategic partnership with IPIC and the allotment of new shares to a third party as follows:

Basic concepts of COSMO OIL COMPANY, LIMITED

1. Establishment of strong partnership with oil-producing countries

• The United Arab Emirates ("UAE") is one of the most important countries for the Company as UAE is the largest crude oil supplier to the Company and also a stable provider of petroleum products such as naphtha.
• Furthermore, we have continued to have excellent relationships with the UAE for a long time in a variety of sectors, including culture, environment and education. ABU DHABI OIL CO., LTD., a subsidiary of the Company, has also developed oil in Abu Dhabi, one of the Emirates of the UAE, since 1968. These interactions have built strong confidence between the Company and the UAE.
• This strategic partnership and the allotment of new shares will bring the Company further opportunities to enhance the strong relationship with the UAE and to establish the long-term stable supply system for oil.
• This strategic partnership and the allotment of new shares will also have an impact of significance beyond the role of a private enterprise by means of strengthening the energy security for Japan as a whole.

2. Strengthening of the financial ground for strategic growth

• The improvement of its financial condition has been one of the business challenges for the Company since the company was established through a merger in 1986. We have put priority on improving the financial condition and have steadily improved since then.
• In order to accomplish the above, the Company has, for a long time, been restricted in its ability to make aggressive strategic investments. Strategic investments, such as investments in upgrades of and heightening the added value of refinery (including petrochemicals) and E&P etc. are the key factors in accomplishing the Company's mid- and long-term business plan.
• This allotment of new shares will strengthen the financial condition of the Company, and allows us to further continue to enhance our financial strength and financial rating, and increase our competitiveness in the mid- and long-term through targeted strategic investments.

3. Upgrade of and heightening the added value of refineries (including petrochemicals), enhancement of competitiveness and profitability in oil exploration & production and start-up businesses by the execution of joint projects with IPIC

• This is the last year of our current mid-term business plan FY2005 to FY2007. the Company will take into account this strategic partnership and the allotment of new shares when creating the new mid-term business plan FY2008 to FY2010.
• We will also recreate our long-term growth strategy and strategic investments.
• The Company will discuss the new mid-term business plan with IPIC and effectively identify joint business opportunities. We expect to create further growth strategy through the synergy between the Company and IPIC where the Company has the business resources such as E&P and refineries and where IPIC has wide international network and strong financial power.
• The following provides a summary of our current draft of the mid- and long-term growth strategy. We will concretely discuss with IPIC about the contents, the profitability and the feasibility of this draft.

Mid- and long-term growth strategy for the Company

1. Upgrade of the supply chain system including refineries
2. Strengthen E&P
3. Further development of export sales
4. Enhancement of new start-up businesses

Joint project opportunities for consideration on the basis of the strategic partnership

1. Upgrade of and heightening the added value of refineries (including petrochemicals)
2. Further development of petroleum products sales in the Asia-Pacific region
   (including US West Coast)
3. Strengthen E&P outside Abu Dhabi
4. Enhancement of start-up businesses such as ALA
5. LPG business

*The Company shall also work closely together with energy companies which have close relationships with IPIC.

Consolidated Medium-Term Management Plan

Stock Information

Financial Data

Annual Report

Corporate Report