Cosmo Oil Co., Ltd. (headquartered in Minato-ku, Tokyo, Japan; Paid-in Capital: JPY 107.2 billion; President & Representative Director: Yaichi Kimura) will implement organization changes, effective June 23, 2010, and announces the outline of these changes:
1.Outline of Organization Changes
- To improve efficiency, the Sales Control Department and the Sales Support Department will be merged as Sales Department, integrating staff functions to improve efficiency.
- The Tokyo Branch Office and the Kanto-Higashi Branch Office will be merged as Tokyo Branch Office, reducing the number of branches in the Tokyo and Kanto area from three to two, for improved efficiency.
- The Energy Development Office will be separated from the Corporate Planning Department and renamed the Petroleum E & P Department to enhance the control function and improve the administrative system for businesses in the oil exploration and production business segment.
- The Reform Promotion Department will be established to promote fundamental structural reforms of the businesses across the entire Cosmo Oil Group.
