Mitsubishi Electric Announces Details of New Building Systems Subsidiary

Rhea-AI Summary

Mitsubishi Electric Corporation (Tokyo: 6503) announced the establishment of a new subsidiary, Mitsubishi Electric Building Solutions Corporation, effective April 1, to oversee its building systems management. This change follows a company split on October 18, with previous announcements about the integration of the building systems business. The company aims to streamline operations under this subsidiary, enhancing focus and efficiency in building solutions.

Positive

• Establishment of Mitsubishi Electric Building Solutions Corporation to streamline building systems management.
• Integration follows a company split, suggesting a strategic reorganization.

Negative

• None.

TOKYO--(BUSINESS WIRE)-- Mitsubishi Electric Corporation (TOKYO: 6503) announced today the agreement execution date, location and president of Mitsubishi Electric Building Solutions Corporation, a new subsidiary that will be established on April 1 to manage Mitsubishi Electric’s building systems management business. The details were still undecided when Mitsubishi Electric announced that it would integrate its building systems business under a subsidiary following a company split last October 18 as well as when the new company’s name was announced on November 11.

Other previously announced details regarding the new company remain the same, as follow (newly announced details underlined):

For the full text, please visit: www.MitsubishiElectric.com/news/

View source version on businesswire.com: https://www.businesswire.com/news/home/20220216005550/en/

Customer Inquiries

Building Systems Group

Mitsubishi Electric Corporation

BSG.Webmaster@ny.MitsubishiElectric.co.jp

www.MitsubishiElectric.com/products/building/

Media Inquiries

Takeyoshi Komatsu

Public Relations Division

Mitsubishi Electric Corporation

Tel: +81-3-3218-2346

prd.gnews@nk.MitsubishiElectric.co.jp

www.MitsubishiElectric.com/news/

Source: Mitsubishi Electric Corporation

FAQ

What is Mitsubishi Electric's new subsidiary called?

The new subsidiary is called Mitsubishi Electric Building Solutions Corporation.

When will the new subsidiary of Mitsubishi Electric be established?

The new subsidiary will be established on April 1.

What prompted the creation of Mitsubishi Electric Building Solutions Corporation?

The creation follows a company split on October 18.

What is the purpose of the new subsidiary for Mitsubishi Electric?

The purpose is to manage Mitsubishi Electric’s building systems management business.