Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

News SummaryMost relevantAll newsSector newsTweets

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

share with twitter share with LinkedIn share with facebook
share via e-mail
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
distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on MITSUBISHI CORP
08/21 MITSUBISHI : and Allianz invest in Red Dirt project
08/17 TOTALITY AWESOME : Here's a silly, pop culture-y guide to Monday's total solar e..
08/17 MITSUBISHI MOTORS : To celebrate the all-new eclipse cross cuv, mitsubishi motor..
08/16 MITSUBISHI : Al Habtoor Motors opens customer happiness counter
08/16 MITSUBISHI : Dhaka Mass Rapid Transit Company Limited Orders for Supplying Rolli..
08/16 Toyota sees bigger market for eco-cars
08/15 MITSUBISHI : Person struck by gunfire on I-880 in San Leandro; freeway closed fo..
08/12 MITSUBISHI : 2018 Mitsubishi Xpander crossover-MPV world premiere
08/11 COPS : 2 drivers who played 'cat and mouse' -- one in car with 3 tires -- charge..
08/11 MITSUBISHI : Streaming audio of the investor meeting reporting financial results..
More news
News from SeekingAlpha
08/02 Oil Prices Vs. Electric Vehicles
08/02 Mitsubishi reports Q1 results
08/01 EV Company News For The Month Of July 2017
07/07 Tesla And Neoen Win World's Biggest Battery Plus Wind Project For South Austr..
07/02 EV Company News For The Month Of June 2017
Financials ( JPY)
Sales 2018 6 903 859 M
EBIT 2018 -
Net income 2018 475 019 M
Debt 2018 3 770 642 M
Yield 2018 3,42%
P/E ratio 2018 8,41
P/E ratio 2019 8,60
EV / Sales 2018 1,12x
EV / Sales 2019 1,07x
Capitalization 3 983 143 M
Duration : Period :
Mitsubishi Corp Technical Analysis Chart | 8058 | JP3898400001 | 4-Traders
Technical analysis trends MITSUBISHI CORP
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 2 878  JPY
Spread / Average Target 15%
EPS Revisions
Takehiko Kakiuchi President & Representative Director
Ken Kobayashi Chairman
Mitsuyuki Takada Operations Manager & Executive Officer
Kazuyuki Masu Chief Financial Officer & Representative Director
Hidehiro Konno Independent Outside Director
Sector and Competitors
1st jan.Capitalization (M$)
ITOCHU CORP12.67%26 480
MITSUI & CO LTD0.56%26 339
SAMSUNG C&T CORP--.--%22 371
SUMITOMO CORP11.30%17 329
MARUBENI CORP5.35%11 041