Idemitsu Logs Profit Drop despite Showa Shell Integration

Idemitsu Logs Profit Drop despite Showa Shell Integration

   Tokyo, Aug. 14 (Jiji Press)--Major Japanese oil distributor Idemitsu Kosan Co. <5019> saw its consolidated sales and operating profit drop in April-June, despite having integrated with Showa Shell Sekiyu K.K. in April.
   Idemitsu's sales fell 11.3 pct and operating profit plunged 70.0 pct from the year-before combined figures of both Idemitsu and Showa Shell.

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