Jakarta, 11 June 2025 — Indonesia’s business competition watchdog, the Komisi Pengawas Persaingan Usaha (KPPU), has moved forward with proceedings in a case involving Japanese conglomerate Mitsui & Co., Ltd. and its Australian subsidiary over an alleged delay in reporting a share acquisition.
The case, officially registered as No. 21/KPPU-M/2024, concerns Mitsui’s acquisition of a majority stake in Position Partners Pty. Ltd., an Australian company. KPPU convened a panel hearing at its Jakarta headquarters on 10 June 2025 to address the company’s response to earlier findings from KPPU investigators.
According to the KPPU, Mitsui failed to notify the commission of the acquisition within the legally required timeframe. The deal—completed through two separate payments on 29 June 2022 by both Mitsui & Co. (Australia) Ltd. and Mitsui & Co., Ltd.—should have been reported within 30 working days, by 9 August 2022. However, the notification was submitted on 10 August, one business day late.
Mitsui acknowledged the delay and attributed it to a miscalculation of the deadline. The company believed that the first day of the reporting period should be counted from 30 June rather than 29 June, the actual date of completion.
Prior to the acquisition, Mitsui & Co. (Australia) Ltd. held 12.06% and Mitsui & Co., Ltd. held 8.04% of Position Partners. Post-transaction, the two entities jointly control 50.00001% of the company’s shares, giving them effective control as a business group. The combined asset and turnover value of the companies in Indonesia also exceeded the reporting threshold set by Indonesian law (IDR 2.5 trillion for assets and IDR 5 trillion for turnover).
As a result, KPPU concluded that the transaction constituted a notifiable acquisition under Article 29 of Law No. 5/1999 on the Prohibition of Monopolistic Practices and Unfair Business Competition.
A follow-up hearing, designated as a “quick examination” session, is scheduled for 3 July 2025. Further updates and hearing schedules are available on KPPU’s official website at https://kppu.go.id/jadwal-sidang.
Source: https://kppu.go.id/wp-content/uploads/2025/06/Siaran-Pers-No.-035_KPPU-PR_VI_2025.pdf
