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Mitsubishi Electric Announces Name of Subsidiary That Will Integrate Building Systems Business Following Company Split

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Mitsubishi Electric Corporation has officially named its new wholly-owned subsidiary as Mitsubishi Electric Building Techno-Service Co., Ltd. This new entity will integrate the company's building systems business, following a previously announced company split on October 18. Key details include a paid-in capital of 5,000 million yen and a business focus on elevators, escalators, building management systems, and air conditioning. The book closing date is set for March 31.

Positive
  • Establishment of Mitsubishi Electric Building Techno-Service Co., Ltd. to enhance building systems integration.
  • Paid-in capital set at 5,000 million yen, indicating financial backing for new operations.
Negative
  • None.

TOKYO--(BUSINESS WIRE)-- Mitsubishi Electric Corporation (TOKYO: 6503) announced today the name of Mitsubishi Electric Building Techno-Service Co., Ltd., a new wholly owned subsidiary that will integrate the company’s building systems business following a company split. The name had been undetermined at the time of the announcement “Mitsubishi Electric to Integrate Building Systems Business into Subsidiary via Company Split” dated October 18.

Other than the company name being announced today, other previously announced details regarding the new company remain the same, as follow:

Status of Succeeding Company After Company Split

(1) Name

Mitsubishi Electric Building Solutions Corporation

(2) Head Office

To be determined

(3) Representative

To be determined

(4) Summary of Business

- Development, manufacture, sales, installation, maintenance, repair, etc., of elevators, escalators and building management systems

- Sales, installation, maintenance and repair of refrigeration systems and air conditioners

- Comprehensive building management, including monitoring and control of various building facilities, facility management, operation, and consulting

(5) Paid-in Capital

5,000 million yen

(6) Book Closing Date

March 31

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

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 the new name of Mitsubishi Electric's subsidiary?

The new name is Mitsubishi Electric Building Techno-Service Co., Ltd.

When was Mitsubishi Electric's company split announced?

The company split was announced on October 18.

What is the paid-in capital for the new subsidiary of Mitsubishi Electric?

The paid-in capital is 5,000 million yen.

What is the focus of the business for Mitsubishi Electric Building Techno-Service?

The focus includes elevators, escalators, building management systems, and air conditioning.

When is the book closing date for Mitsubishi Electric's new subsidiary?

The book closing date is set for March 31.

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