This excerpt taken from the MITSY 6-K filed May 27, 2008.
Mitsui to sell the whole shares in Kokusai Oil & Chemical Co., Ltd.
Mitsui & Co., Ltd. (Mitsui) announced today that it has signed an agreement with San-ai Oil Co., Ltd. (San-ai) to sell the whole shares in Kokusai Oil & Chemical Co., Ltd. (KOC), a 100% subsidiary engaged in sales of oil products. The transaction is scheduled to be completed in July 2008.
Mitsui recognizes that the transfer of KOCs share to San-ai is the best measure to enhance its operational efficiency in the highly competitive oil sales industry in Japan.
Mitsui expects that the influence on the consolidated financial results by this transaction will be insignificant.