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Opinion

Yoshiaki Murakami's Cosmo Energy bet defies conventional wisdom

Acquisition has appeal as a contrarian wager against the demise of fossil fuels

Stephen Givens
| Japan
Petrol nozzles at Cosmo Energy Holdings' Cosmo Oil service station in Tokyo: The odds on Murakami's bet seem long.   © Reuters

Stephen Givens is a corporate lawyer based in Tokyo.

Repeated consolidation in Japan's domestic petroleum industry has created two giants, Eneos Holdings and Idemitsu Kosan, and a much smaller No. 3, Cosmo Energy Holdings.

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