Mitsubishi Heavy : MHI Decides Capital Amount of Preparatory Company to Be Established for Split-off of Air-conditioning & Refrigeration Business
February 08, 2016 at 07:15 pm EST
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February 09, 2016 No.1956
Tokyo, February 9, 2016 - As announced on February 4, Mitsubishi Heavy Industries, Ltd. (MHI) will split off its air-conditioning & refrigeration business to a wholly-owned Group company, initially establishing a preparatory company that will later succeed to the pertinent business from MHI in an absorption-type company split. The capital amount of the preparatory company, which remained undecided at the time the announcement was made, has now been set as indicated (underlined) below.
Profile of the Preparatory Company (to subsequently become the successor company)
Company name: MHI Air-Conditioning & Refrigeration Co., Ltd.
Head office location: 16-5, Konan 2-chome, Minato-ku, Tokyo, Japan
Representative: Kaoru Kusumoto, President and CEO
Business description: Design, manufacture, sales and after-sale servicing of
air-conditioning & refrigeration systems and ancillary products
Capital: 150 million yen
Shareholder: Mitsubishi Heavy Industries, Ltd. (100%)
Date of establishment: February 2016 (scheduled)
Mitsubishi Heavy Industries Ltd. issued this content on 09 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 February 2016 00:14:14 UTC
Original Document: http://www.mhi-global.com/news/story/1602091956.html
Mitsubishi Heavy Industries, Ltd. is a diversified group organized around 4 business segments:
- manufacturing of systems and components for energy production units (42.6% of net sales): offshore wind turbines, pumps, turbochargers, reactors, compressors, aero-engines, gas turbines, nuclear power generators, etc.;
- shipbuilding and industrial construction (41.1%): construction of ships, land transport systems, machinery and industrial installations, environmental systems (industrial wastewater treatment systems, air pollution control units, marine pollution prevention systems, waste incinerators, etc.), handling equipment, machine tools, air conditioning and refrigeration systems, toll systems, etc.;
- construction of avionics, defence and aerospace systems (15.7%);
- other (0.3%).
Net sales are distributed geographically as follows: Japan (48.9%), Asia (17.4%), the United States (14.8%), Europe (9.4%), Middle East (2.9%), Central and South America (2.8%), Africa (1.3%) and other (2.5%).
MITSUBISHI HEAVY INDUSTRIES, LTD. 
