Concerning Media Reports about MHI’s Shipbuilding Business

Although Mitsubishi Heavy Industries, Ltd. (MHI) has not made any announcement to such effect, some news media reported on Tuesday, December 23, 2014, that MHI has begun consideration of a move to spin off its shipbuilding business into a separate company as early as the fiscal year 2015 (April 1, 2015 to March 31, 2016).

While it is true that MHI is presently examining various possibilities regarding structural reform of the company’s shipbuilding business, including a spin-off of the company, no decision on this matter has been made at the present time.

Structural reform of the shipbuilding business focusing on reform and strengthening of commercial ships will be considered in a “2015 Medium-Term Business Plan" that is currently being drafted. MHI will disclose relevant details of the plan in a timely manner when it is appropriate to do so.