Eneos Holdings Explained

ENEOS Holdings, Inc.
Former Name:
  • JX Holdings, Inc. (2010–2017)
  • JXTG Holdings, Inc. (2017–2020)
Native Name:ENEOSホールディングス株式会社
Native Name Lang:ja
Romanized Name:ENEOSU Hōrudingusu kabushiki gaisha
Type:Public (Kabushiki gaisha)
Traded As:

Nikkei 225 component (TYO)
TOPIX Large70 component (TYO)
Hq Location City:Tokyo
Hq Location Country:Japan
Area Served:Worldwide
Key People:Katsuyuki Ota

Tomohide Miyata
Industry:Oil and gas
Mining and metals
Revenue: JPY 11 trillion (2013)[1]
Operating Income: JPY 251 billion (2013)
Net Income: JPY 159 billion (2013)
Assets: JPY 7.27 trillion (2013)
Equity: JPY 2 trillion(2013)
Num Employees:24,691 (2012)[2]

is a Japanese global petroleum and metals conglomerate headquartered in Tokyo, Japan. In 2012 the multinational corporation consisted of 24,691 employees worldwide and, as of March 2013, JX Holdings was the forty-third largest company in the world by revenue. It is one of the core companies of the Mitsubishi Group through its predecessor (the original Nippon Oil Company)'s merger with Mitsubishi Oil.

Establishment

ENEOS Holdings was established on April 1, 2010 as JXTG Holdings through the joint share transfer by Nippon Oil Corporation and Nippon Mining Holdings, Inc. On July 1, 2010, all the businesses of both Group Companies were integrated and reorganized under JX Holdings, resulting in the incorporation of three core business companies:[3]

thumb|100px|Final logo of TonenGeneral Sekiyu. Prior to its merger with JX, ExxonMobil had a 22% stake.[4] [5]

In April 2017, JX Holdings and TonenGeneral Sekiyu K.K. merged to form JXTG Holdings. JXTG Holdings was renamed in June 2020 to ENEOS Holdings.

Controversy

In August 2022, ENEOS CEO Tsutomu Sugimori resigned for what was described at the time as personal reasons. The following month, however, the company confirmed that the reason for Sugimori's departure was due to allegations that he sexually harassed and injured a woman working at a hostess bar in Okinawa, which were later substantiated. The company's statement followed a report about the incident in a weekly magazine.[6]

In December 2023, Takeshi Saito was dismissed as the president of ENEOS after an independent investigation validated claims that he inappropriately hugged a woman at a social gathering while intoxicated.[7]

Notes and References

  1. Web site: 2013 Annual Report. JX Holdings. May 16, 2014. March 4, 2016. https://web.archive.org/web/20160304025347/http://www.hd.jx-group.co.jp/english/ir/library/annual/2012/pdf/jx_en_ar_fy2012.pdf. dead.
  2. Web site: Global 500, JX Holdings . October 9, 2013 . CNN Money.
  3. Web site: Establishment of the JX Group. JX Holdings. October 10, 2013. October 23, 2016. https://web.archive.org/web/20161023005949/http://www.hd.jx-group.co.jp/english/about/establishment.html. dead.
  4. Web site: Exxon in Talks to Restructure Stake in Japan Refining Unit . . January 5, 2012 . March 6, 2017 . https://web.archive.org/web/20160124205721/http://www.bloomberg.com/news/articles/2012-01-04/tonengeneral-slumps-most-in-9-years-after-report-of-exxon-sale . January 24, 2016 . live .
  5. News: TonenGeneral to Buy Exxon Japan Refining, Marketing Unit for $3.9 Billion . January 30, 2012 . Bloomberg . Yuji . Okada . Jacob . Adelman . January 30, 2012 . https://web.archive.org/web/20160124205721/http://www.bloomberg.com/news/articles/2012-01-04/tonengeneral-slumps-most-in-9-years-after-report-of-exxon-sale . January 24, 2016 . live .
  6. Web site: Japan oil giant says misconduct against woman led to CEO resignation. 21 September 2022. Kyodo News. 19 December 2023.
  7. Web site: Japan oil firm ENEOS president dismissed after hugging woman while drunk. 19 December 2023. Kyodo News. 19 December 2023.