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MHI Establishing Finance Subsidiary in Singapore As Part of Initiative to Forge Unified Global Financial Management System

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Tokyo, January 16, 2014 - On January 17 Mitsubishi Heavy Industries, Ltd. (MHI) will establish a wholly owned finance subsidiary in Singapore to oversee the financial affairs of its group companies doing business in Asia. Its founding is a part of the company's ongoing development of unified financial management system of global scope, including Japan, North America, Europe, China and other points in Asia. Establishment of the new unit in Singapore is targeted at enhancing business funding efficiency and risk management capabilities within Asia. The move represents MHI's second establishment of a dedicated finance subsidiary overseas; earlier, a corresponding unit was created in the United States.

The new finance subsidiary is to be known as MHI Capital Asia Pacific Private Ltd. (MCP-AP). Capitalization at the establishment will be 10 million Singapore dollars (approx. 800 million yen). In addition to perform cash pooling and unified fund procurement, the new unit will oversee the other financial affairs of MHI group companies, gather financial information and perform other related duties in Asia.

Until now, MHI has conducted cash management functions in North America, Europe, China and Japan. By the establishment of finance subsidiary in Singapore, structure necessary to build "unified financial management system of global scope" will be further completed.

Going forward MHI will organically link the activities of the finance subsidiaries in each region and continue global expansion of business.
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About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.

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