Companies to accelerate cutting gas stations.(Nippon Mitsubishi Oil Corp., Cosmo Oil Co., Idemitsu Kosan Co., Japan)(Energy Corp.)(Brief Article)(Statistical Data Included)

NPN International, September, 2000

Japan -- Japan's major oil companies are accelerating cutting their number of affiliated gasoline stations in efforts to improve their profitability, which has worsened on the back of strong crude oil prices, the newspaper Nihon Keizai Shimbun reported in August.

The companies are Nippon Mitsubishi Oil Corp., Idemitsu Kosan Co., Cosmo Oil Co. and Japan Energy Corp.

However, company officials said they don't have specific plans or targets for the final number of their affiliated gasoline stations. The companies plan to stop providing financial support to unprofitable outlets, bringing the total number of service stations to less than 50,000 after three or four years, from some 53,000 at the end of March.

According to the report, Nippon...

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