Sojitz


Sojitz
Sojitz Corporation
双日株式会社
Type Public KK
Traded as TYO: 2768
Industry Conglomerate (Sogo shosha)
Founded 2004
Headquarters Tokyo and Osaka, Japan
Key people Akio Dobashi, Chairman
Yutaka Kase, CEO
Yoji Sato, CFO
Revenue decrease US$41.3 Billion (2010)
Net income decrease US$95 Million (2010)
Employees 17,331 (2010)
Website [1]

Sojitz Corporation (双日株式会社 Sōjitsu Kabushiki-gaisha?) (TYO: 2768) is a trading corporation based in Tokyo, Japan. It operates in many industries, including construction, forestry, plastics, chemicals, mining, petroleum, textiles, and international trade. Sojitz also participates in joint ventures with foreign companies in Japan.

Contents

Etymology

"Sojitz" literally means "double 日" or "the twin 日". The company was formed by the merger of two companies, both with names containing the character "日" meaning "sun" or "day":

  • Nissho Iwai Corporation (商岩井株式会社 Nisshō Iwai Kabushiki-gaisha?)
  • Nichimen Corporation (ニチメン株式会社 Nichimen Kabushiki-gaisha?), originally Japan Cotton Corporation (本綿花株式会社 Nihon Menka Kabushiki-gaisha?). "Nichimen" is a contraction of "Nihon Menka", literally "Japan Cotton", referring to its original business of cotton importing.

The character 日 may be pronounced either "nichi" or "jitsu", with assimilation to the following consonant in words like Nisshō (日商). It is also exceptionally pronounced "ni" in Nihon ("Japan").

"Sojitz" (Sōjitsu), the "twin 日", implies a merger of equals.

History

Sojitz was formed in 2004 by the merger of Nissho Iwai Corporation (日商岩井株式会社 Nisshō Iwai Kabushiki-gaisha?) and Nichimen Corporation (ニチメン株式会社 Nichimen Kabushiki-gaisha?).

Current operations

In November 2010, it signed an agreement with the Australian rare earths mining company Lynas to import $350 million worth of rare earth minerals from Linas's mine in Mount Weld, Australia.[1]

References

  1. ^ Tabuchi, Hiroko (November 24, 2010). "Japanese Firm in Rare Earths Deal With Australian Miner". The New York Times. http://www.nytimes.com/2010/11/25/business/global/25rare.html. Retrieved November 3, 2011. 

External links



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