Mitsui & Co., Japanese trader, together with Japan Oil, Gas and Metals National Corp. (JOGMEC), the state corporation, on Friday at the St. Petersburg International Economic Forum (SPIEF) will sign framework agreements with Leonid Michelson NOVATEK on participation in the Arctic LNG-2 project, Jiji Press Japan reported.
Japanese company Mitsui & Co will sign a memorandum of intent on the pre-project preparation of Baltic LNG with a Gazprom at the ongoing Eastern Economic Forum in Vladivostok, reported Bloomberg with reference to the Japanese Sankei.
The Japanese Mitsui O.S.K. Lines Ltd. shipping corporation intends to establish a ship steering company, according to the press-office of the regional administration.
On Thursday, during the Eastern Economic Forum, Gazprom and the Japanese Mitsui signed a framework agreement on cooperation in the field of low- and medium-tonnage LNG, as stated in the Russian gas holding’s press-release. According to the report, “This document reflects the desire of the parties to interact in the field of production, transportation and marketing of low- and medium-tonnage LNG in the Japanese territory, as well as LNG bunkering in the Sea of Japan”.
During the Eastern Economic Forum, RusHydro and the Japanese Mitsui and Komai signed memorandums of understanding with the governments of the Chukotka Autonomous District and the Kamchatka Territory, providing for implementation of wind engineering projects in these regions, as reported by a correspondent of RIA Novosti.
Mitsui (Japan) became the minority shareholder of Rusagro Group owned by Mr. Vadim Moshkovich. Further, the large-scale investments are possible.
The annual report of Rusagro Russian agroholding states that Mitsui & Co Group purchased its 0.005% in May 2016. Also, it is mentioned there that the Japan company paid about $100 000 for this package at the rate of $15 for one Rusagro global depository receipt. Mitsui representative did not answer the questions.
The annual report of Russian landholding states that later, in December 2016, Rusagro and Mitsui signed the agreement of intention: the parties intend to develop new business opportunities in Russia including export, implementation of high-end technologies and investments. The representative of Russian agroholding clarified that Rusagro and Mitsui did not made any transactions from that moment.
Mitsui is a multi-field Japan group with the capitalization of $25 bln. It invests financial sector, metallurgy, chemical industry, electric-power industry, food production, etc. 94.4% of Mitsui shares are in public float, the largest investors, according Bloomberg, are GPIF of Japan (7.57%) and BlackRock (5.85%). In 2012, Mitsui & Co. purchased 10% of Sodruzhestvo GC in Kaliningrad for about $120 mln.; and in the end of April, it agreed to purchase 10% of R-farm GC business in Russia and the CIS for $200 mln.
The Japanese Mitsui & Co. signed an agreement to acquire 10% stake in R-Pharm Russian pharmaceutical company. This is stated in a joint press release of the companies. The signing of this agreement was timed to the visit to Moscow of the Japanese Prime Minister Shinzo Abe. The interest of the Japanese in the Russian asset has first become known in October last year.
The transaction amounted to $ 200 million; it will be closed in September 2017, as a R-Pharm representative told RBC. In addition, the Japanese company can acquire an option to increase its stake to 20% upon evaluation of the first 10 percent package, according to TASS who quoted the statement of Alexey Repik, the sole owner of R-Pharma.
The deal on the sale of a share in R-Pharm to Japan’s Mitsui will be closed in early summer of 2017, its parameters will be determined at the end of March. This was reported by Aleksey Repik, Chairman of the Board of Directors of R-Pharm.
According to Japan’s leading business daily Nikkei, Japan’s Mitsui & Co (Mitsui) is planning to spend JPY 15-20 bln ($130-$174 mln) to acquire 10% of shares of the Russian pharmaceutical company R-Pharm.
Japanese Mitsui conducts negotiations with RAO ES EAST (part of RusHydro) of joint construction of wind farms in the Russian Far East, the Nikkei Asian Review business magazine writes referring to government sources.
The project’s cost is estimated at ¥20 bln (about $194 mln) and involves construction of stations with up to 50 MW capacity by 2020 with further increase to 100 MW. The construction of wind farms is expected in Kamchatka and Yakutia.
The Japanese trading company Mitsui is working at the possibility of investment in the Russian pharmaceutical company R-pharm, says Prime referring to Nikkei. According to it, Mitsui plans to come to a decision about the investment by March 2017, the company takes into account the growth of the Russian pharmaceutical market. It may spend up to ¥10 bln ($96.3 mln) to buy slightly over 10% of R-pharm.
Nikkei marks growing activity of Mitsui in the medical area In July the company decided to buy the Columbia Asia group of companies operating in Asia and Africa. The newspaper also reminds that in Russia Mitsui and the Japan Bank for International Cooperation intends to invest ¥34 bln (about $327 mln) in Rushydro PJSC.
Mitsui's investments into Sakhalin-2 expansion are to exceed USD1 bn, told the CEO of Mitsui & Co Moscow LLC, Mr. Hiroshi Maguro.
"Precisely, over USD1 bn. It is a large project. For Japan, the gas from Sakhalin is the most comfortable and closest one", he told journalists.
Sakhalin Energy is the project operator of Sakhalin-2. Currently, it is the only active LNG production project in Russia. The framework of the Sakhalin-2 project includes development of Piltun-Astokhskoye and Lunskoye deposits of the Sakhalin shelf the estimated recoverable reserves whereof are 150 MM tons of oil and 500 bn cu.m. of gas. Sakhalin Energy shareholders are Gazprom (50%), Royal Dutch Shell (27.5%), Mitsui (12.5%) and Mitsubishi (10%).
Mitsui & Co (Mitsui) of Japan is interested in expanding its cooperation with Russia in e-commerce. TASS was told so by the company on the threshold of the second Oriental Economic Forum (OEF) in Vladivostok.
"In addition to such areas as energy, machine building, infrastructure, consumer goods production, we are interested in increasing our participation in e-commerce planning in Russia", the company informed remarking that it is currently implementing 17 projects in Russia, among which two have been financed this year.
The Russian Chefmarket service for delivery of foods with recipes attracted $1.3 mln of investments from the Japanese Mitsui & Co fund and the existing shareholders, including co-founder of Qiwi Andrey Romanenko. This information was reported to the Vedomosti by CEO of Chefmarket Sergey Ashin and confirmed by the representatives of Mitsui and Romanenko.
The funds are necessary for the expansion of the business, including for the equipment of a new production site where over 10,000 suppers per week could be cooked. Currently Chefmarket is said to deliver over 60,000 suppers per month. The revenue of the company founded in 2012, grows by 200-300% per year, and by 2018 the company intends to achieve a $100 mln turnover.
Treasury stock of the RusHydro company may be sold to Japanese Mitsui. TASS was informed about it by Director General of RusHydro Nikolay Shulnikov in Yakutsk.
RusHydro’s additional capitalization is performed to cover the current debt of RAO ES of East amounting to 85-90 bln. rubles.
The construction of a third line at the liquefied natural gas (LNG) production plant in Sakhalin will increase its capacity by 5 million tons, the Sakhalin Region governor’s press service reported in a statement today.
“The design documentation for the third line is to be prepared in 2016. The project will be fully implemented in 3—4 years. The new process line will work for the Sakhalin-3 project and provide an additional 5 million tons of LNG. The plant currently produces 9.6 million tons of products. This will provide the region with an additional 30 percent of income from the gas component of Sakhalin-2,” the statement says.
This information was announced during a meeting of the supervisory council on the Sakhalin-2 project in Moscow, the press service reported.
“There is much work to be done for the Sakhalin-2 and Sakhalin-3 projects. The construction of a third process line at the LNG plant and the development of the Kirinskoye and South Kirinskoye fields all requires a large number of specialists, which means infrastructure is needed: housing as well as logistics and educational centers in the north of the island, the Korsakovsky District and Yuzhno-Sakhalinsk. Gazprom and Sakhalin Energy will set it up with the support of the regional government,” the press service said.
Mitsui & Co Ltd
Company's website: https://www.mitsui.com.jp
T: +81 3285 1111
Public company (TSE: 8031)
Contact: Mr Masami Iijima, President and Chief Executive Officer
The company’s core business consists in trade and investment in such spheres of the economy as oil&gas and minerals extraction and refining, steel and equipment production, infrastructure development (in the main, in the energy and railway transport sectors), the automotive and chemical industries, IT, transport and logistics, foodstuffs production and agriculture, the consumer sector and retail trade.