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4-Traders Homepage  >  Equities  >  Tokyo  >  Mitsubishi Corp    8058   JP3898400001

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Mitsubishi Corp : Commencement of Leasing Company for Construction Machinery in China

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12/26/2012 | 03:07am CEST

Mitsubishi Corporation (MC), Mitsubishi Corporation China (CIC) and Mitsubishi UFJ Lease & Finance Company Limited (MUL) are pleased to announce the establishment and commencement of the leasing company, Hongling Financial Leasing Co., Ltd. (Hongling) in Shanghai, China.

Hongling was established in March 2012 by MC and CIC, and with MUL's recent participation in this investment, the shareholders' investment ratio has now become 85% MC, 10% CIC and 5% MUL. The total amount of investments into Hongling is approximately 1.3 billion USD. Hongling will be leasing construction machinery, especially high quality power shovels, manufactured by Hitachi Construction Co., Ltd. (Hitachi Construction).

In China, due to its economic growth, infrastructures such as housing, water and sewerage, dams and agriculture water, are becoming increasingly essential. Accordingly, there is a high demand for construction machinery, especially in the mid-long term. In many cases, the development of these infrastructures is operated by individuals or small companies, who can save on initial costs by leasing the construction machinery.

Under such circumstances, Hongling has set up its Headquarters in Shanghai. Hongling plans to develop its leasing business in China by combining MC's proven track record in selling Hitachi Construction's power shovels, CIC's business know-how in China and MUL's know-how in the leasing business.

Moving forward from its business in Shanghai, Hongling also aims to expand its business towards inland China, where public work will be done.

Having set China as one of its Strategic Regions under Midterm Corporate Strategy 2012, MC is working hard to develop businesses in China that will ultimately grow into pillars for future earnings.

MUL also plans to expand its business base by responding to the various finance needs in China.

Inquiry Recipient Mitsubishi Corporation
Telephone:+81-3-3210-2171 / Facsimile:+81-3-5252-7705
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Financials ( JPY)
Sales 2017 7 173 401 M
EBIT 2017 -
Net income 2017 278 663 M
Debt 2017 4 377 171 M
Yield 2017 3,13%
P/E ratio 2017 11,08
P/E ratio 2018 9,81
EV / Sales 2017 1,03x
EV / Sales 2018 0,99x
Capitalization 3 007 630 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 2 163  JPY
Spread / Average Target 14%
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Takehiko Kakiuchi President, Chief Executive Officer & Director
Ken Kobayashi Chairman
Kazuyuki Masu Chief Financial Officer, Director & Executive VP
Ryozo Kato Independent Director
Hidehiro Konno Independent Director
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