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Basic Agreement reached with JTEKT toward Tie-up in Machine Tool Business
-- Aims Set on Enhancing Competitiveness and Expanding Business Scale --
-- Aims Set on Enhancing Competitiveness and Expanding Business Scale --
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Tokyo, December 22, 2017 - Mitsubishi Heavy Industries, Ltd. (MHI) and its wholly owned Group company Mitsubishi Heavy Industries Machine Tool Co., Ltd. (MAT) have reached a basic agreement with JTEKT Corporation to commence discussions toward forming a business partnership, including capital participation, in the field of machine tools and precision tools.
Going forward, by integrating their respective areas of proven strength through a formal partnership, MHI, MAT and JTEKT look to pursue synergies in technology, marketing and cost competitiveness, to achieve their further business development.
| Company name | Mitsubishi Heavy Industries Machine Tool Co., Ltd. (MAT) | JTEKT Corporation |
|---|---|---|
| Establishment | October 1, 2015 | January 1, 2006 |
| Head office(s) | 130, Roku-jizo, Ritto, Shiga 520-3080, Japan | Nagoya Head Office:15th Floor, Midland Square, 4-7-1 Meieki, Nakamura-ku, Nagoya 450-8515, Japan Osaka Head Office:3-5-8 Minami-semba, Chuo-ku, Osaka 542-8502, Japan |
| President | Keiichiro Iwasaki | Tetsuo Agata |
| Capital | 3,000 million yen | 45,591 million yen |
| Businesses | (1) Design, manufacture, sales and consulting services associated with machine tools, cutting tools, and related products (2) Installation, technical guidance, and after-sale services related to the above products | Manufacture and sale of steering systems, bearings, driveline components, machine tools, electronic control devices, etc. |
| Net sales in FY2016 | 36,551 million yen (nonconsolidated) | 1,318,310 million yen (consolidated) |
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.