Update on Disclosed Matter: Mitsubishi Electric Announces Name of New Subsidiary Succeeding to Automotive-equipment Business as Part of Restructuring

By: Mitsubishi Electric Corporation via Business Wire

December 01, 2023 at 03:10 AM EST

Additional details about company split announced

Mitsubishi Electric Corporation (TOKYO: 6503) announced today it has decided the name of its new subsidiary, Mitsubishi Electric Mobility Corporation, that has been formed as part of the planned spinoff of Mitsubishi Electric's automotive-equipment business. The name had been undetermined at the time of the announcement “(Update on Disclosed Matter) Mitsubishi Electric to Transfer Automotive-equipment Business to New Subsidiary as Part of Restructuring” issued on October 31.

Item number below is consistent with the previous announcement on October 31, 2023, and newly announced information is underlined.

5. Status of Succeeding Company After Company Split

(1) Name	Mitsubishi Electric Mobility Corporation
(2) Head Office	7-3, Marunouchi 2-Chome, Chiyoda-ku, Tokyo
(3) Representative	To be determined
(4) Summary of Business	Manufacturing, sales, maintenance and repair of various electrical equipment, automotive-equipment, ship machinery and equipment, transport machinery and equipment, industrial machinery and equipment, and system related to machine tool and equipment Manufacturing, sales, maintenance, and repair of equipment, systems, and services related to information processing, information communication, and information provision Manufacturing, maintenance, repair and sales of other machinery and equipment and electrical and electronic components Production, sales and engineering of software related to items mentioned above
(5) Paid-in Capital	10 billion yen
(6) Book Closing Date	March 31

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