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Nippon Oil Corp takes stake in solar-cell maker Space Energy

HONG KONG (MarketWatch) — Nippon Oil Corp has purchased a 15.5% stake in Japanese solar-cell maker Space Energy Corp., according to a weekend media report. Nippon Oil Corp, Japan’s leading oil distributor, is making the investment as part of a strategy to reduce its reliance away from carbon-based energy products, according to a report published Sunday in the Nikkei newspaper. In March Nippon Oil spent about 2.3 billion yen ($22.7 million) to acquire 54,000 new shares in Space Energy, becoming the second-largest shareholder in the Tokyo-headquartered firm.
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Original post by Forextvblog

This entry was posted on Sunday, April 13th, 2008 at 9:42 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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