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MHI Decides Core Particulars of New Business Entity
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Tokyo, February 8, 2016 - Mitsubishi Heavy Industries, Ltd. (MHI) has newly set the general parameters of its new business entity to be launched in March integrating its current businesses in material handling equipment, engines and turbochargers. The new company's name is to be "Mitsubishi Heavy Industries Forklift & Engine Turbocharger Holdings, Ltd." By integrating these three closely related businesses – mass-manufactured products all belonging to the Company's Machinery, Equipment & Infrastructure domain – MHI is looking to achieve significant business scale expansion and enhanced earning capacity in these areas.
The new company will be capitalized in the amount of 80 billion yen, backed by an additional investment outlay. Its head office will be located in Kawasaki (Kanagawa Pref.).
The inaugurating president and CEO will be MHI Senior Executive Vice President Atsushi Maekawa. Mr. Maekawa is presently in charge of the preparatory committee handling the acquisition of shares of UniCarrier Holdings Corporation, which will come under MHI Forklift, Engine & Turbocharger Holdings' corporate umbrella.
MHI will work closely with the new business entity, providing total support to its future business development.
Profile of the New Integrated Business Entity
Company name:Mitsubishi Heavy Industries Forklift & Engine Turbocharger Holdings, Ltd.
Head office location: 2, Shin-Ogura 1-chome, Saiwai-ku, Kawasaki, Kanagawa, Japan
Representative: Atsushi Maekawa, President and CEO
Business description:Oversight of material handling equipment, engine and turbocharger
businesses
Capital:80 billion yen (planned)
Shareholder:Mitsubishi Heavy Industries, Ltd. (100%)
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.