Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229- 91111. Fax: +32 229- 64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu.   EUROPEAN COMMISSION  
Brussels, 16.6.2022  
C(2022) 4278 final  
PUBLIC VERSION 
Mitsui O.S.K. Lines, Ltd.   
1-1 Toranomon 2-chome   
Minato -ku  
Tokyo 105-8688  
Japan  
 
Toho Gas Co., Ltd. 
19-18 Sakurada -cho 
Atsuta -ku 
Nagoya, 456-8511  
Japan  
Hokuriku Electric Power Company  15-1 Ushijima -cho,  
Toyama, 930-8686,  
Japan   
 
Orsted InvestCo Ltd.  
19F, No. 1 Songzhi Road  
Xinyi District  
Taipei, 110411  
Taiwan, the Republic of China   
JERA Co., Inc.  
2-5-1, Nihonbashi   
Takashimaya Mitsui Bldg. 25F   
Chuo-Ku   
Tokyo, 103-6125  
Japan   
 
Swancor Holding Co. Ltd.  
No. 9, Gongye S. 6th Rd.  
Nantou City  
Nantou County 540  
Taiwan, the Republic of China   
Subject : Case M .10729 – FOWI / MOL  / TOHO / HOKURIKU / ORSTED / JERA / 
SWANCOR  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 

2 (EC) No  139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 20 May 2022, the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the 
undertaking s Mitsui O.S.K. Lines, Ltd. (“MOL”, Japan) , Toho Gas Co., Ltd. (“Toho”, 
Japan), Hokuriku Electric Power Company (“Hokuriku”, Japan), Orsted InvestCo Ltd. 
(“Orsted”, Taiwan) belonging to Ørsted A/S (Denmark), JERA Power International 
B.V. (“JERA”, the Netherlands ) belonging to JERA Co. Inc. (Japan), and Swancor 
Holding Co. Ltd. (“Swancor”, Taiwan), will acquire within the meanin g of 
Article  3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of the 
undertaking Formosa I International Investment Co., Ltd. (“FOWI”, Taiwan) by way 
of purchase of shares .3 
2. The business activities of the undertakings concerned are  the following : 
− MOL is active in shipping, dry bulk business, energy and offshore business, product transport business and associated businesses,  
− Toho is active in heat supply business, electricity business, sales of gas equipment and facilities, and gas piping installation,  
− Hokuriku is active in the  suppl y of electricity through integrated power 
generation, transmission and distribution systems,  
− Orsted is active in the development, construction and operation of offshore wind farms, bioenergy plants and innovative waste -to-energy solutions and smart 
energy products. It also procures, produces, distributes and trades energy and related products in Europe and the US,  
− JERA is active in upstream fuel investment, fuel procurement, trading, and transport activiti es. It is also engaged in the development and operation of power 
generation plants,  
− Swancor is active in the production and distribut ion of specialty chemical 
materials, including anticorrosion resins for use in tanks and pipelines in various 
industries, c himneys for power plants and epoxy system resins for wind turbine 
blades. 
− FOWI is active in the production of electricity through an offshore wind farm in 
Taiwan.  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009, the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘ Community ’ by ‘Union’  and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p. 3 ( the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 218, 2.6.2022, p. 19.  
3 3. After examination of the notification, the European Commission has concluded that 
the notifie d operation falls within the scope of the Merger  Regulation  and of 
paragraph 5(a ) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No  139/2004.4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation and Article 57 of 
the EEA Agreement . 
For the Commission  
  
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5.