Murakami's Cosmo Energy buy heralds sector consolidation

With already a big Fuji Oil stake, investor's new move flags oil wholesale merger

20220405 Cosmo

Cosmo Energy Holdings is Japan's third-largest oil wholesaler. (Photo courtesy of the company)

Nikkei staff writers

TOKYO -- An investment company linked to Japanese financier Yoshiaki Murakami has become the largest shareholder in Japan's third-largest oil wholesaler Cosmo Energy Holdings, according to a shareholding report filed to a local finance bureau on Tuesday.

The report said City Index Eleventh had bought a 5.81% stake in Cosmo Energy jointly with a co-holder, Murakami's eldest daughter. Aya Nomura now holds convertible bonds equivalent to under 1% of outstanding Cosmo Energy shares.

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