Sojitz Corporation signed an agreement with Cosmo Oil Co., Ltd. to transfer its shares of Sojitz Energy Corporation, a subsidiary, to Cosmo Oil. The details are set forth below.

1.Purpose of the Transfer

Sojitz Energy engages in the sales of industrial and household energy, fuel supply, and other automotive related businesses through a network of approximately 200 service stations. In recent years, Sojitz Energy has been raising operational efficiency in response to changes in the energy market in Japan.

Under its Medium-term Management Plan 2014 - Change for Challenge, Sojitz is working to improve the efficient use of assets in order to raise corporate value and make further advances. A growth strategy for Sojitz Energy was investigated as one part of these efforts, but a determination was made that it would be more suitable to place Sojitz Energy under the umbrella of Cosmo Oil, which is engaged in the domestic oil sales business as an oil refiner and distributor, where it can maximize Cosmo Oil’s established energy supply value chain to develop into a comprehensive energy trading company.

Following talks by Sojitz and Cosmo Oil, agreement was reached on the transfer of all Sojitz Energy shares to Cosmo Oil, and the two companies signed a share transfer agreement today. Sojitz will maintain a cooperative relationship with Sojitz Energy in the domestic energy trading sector.

2．Overview of Sojitz Energy

(1) Trade name: Sojitz Energy Corporation
(2) Address: 14-32 Akasaka 2-chome, Minato-ku, Tokyo　
(3) Representative: Sadao Ezaki
(4) Business activities: Sale of petroleum products
(5) Capital: 500 million yen
(6) Date of establishment: March 1958

3．Overview of Cosmo Oil (share transferee)

(1) Trade name: Cosmo Oil Co., Ltd.
(2) Address: 1-1 Shibaura 1-chome, Minato-ku, Tokyo
(3) Representative: Keizo Morikawa
(4) Business activities: Refining and sale of petroleum products

4．Number of Shares to be Transferred and Share Ownership Before and After the Transfer

(1) Number of shares owned by Sojitz prior to transfer: 7,706,000 (97.08% of issued shares)
(2) Number of shares to be transferred: 7,706,000
(3) Number of shares owned by Sojitz after the transfer: 0 (0% of issued shares)

5．Schedule

Date of execution of share transfer agreement: November 5, 2012
Date of completion of share transfer: January 31, 2013 (scheduled)

6．Impact on Sojitz’s financial results

There are not changes to the projections for the fiscal year ending March 2013 announced on November 2, 2012.