Contact: Mitsubishi Heavy Industries, Ltd.
Keisaku Shibatani Tel: +81-3-6716-2168 (Direct) Tel: +81-3-5208-9324 (Direct) Keisaku.email@example.com Mitsubishi Heavy Industries and Hitachi Announce Change of the Effective Date of Absorption-Type Company Split Related to Business Integration in the Thermal Power Generation Systems Field Tokyo, December 18, 2013 --- Mitsubishi Heavy Industries, Ltd. (TSE: 7011, “MHI”) and Hitachi, Ltd. (TSE: 6501, “Hitachi”) today announced that the two companies agreed to change the effective date of the absorption-type company split related to the business integration centered on the thermal power generation systems of both companies (the “Business Integration”) from January 1, 2014 to February 1, 2014.
On July 31, 2013, MHI and Hitachi respectively signed absorption-type company split agreements with the new company established by MHI for the Business Integration (the “Integrated Company”) as announced in the press release titled “Mitsubishi Heavy Industries and Hitachi Conclude Absorption-Type Company Split Agreement on Business Integration in the Thermal Power Generation Systems Field” on the same day.
Following the conclusion of the absorption-type company split agreements, MHI and Hitachi have proceeded with the preparation toward the Business Integration on January 1, 2014, the planned effective date of the absorption-type company split. However, in order to facilitate smooth Business Integration in the world-wide basis and to promptly develop businesses of the Integrated Company, MHI and Hitachi agreed to change the effective date of the absorption-type company split as stated above.
The information regarding the Integrated Company including the corporate name and representative is as announced in the press release titled “Mitsubishi Heavy Industries and Hitachi Announce Matters Related to Business Integration in the Thermal Power Generation Systems” on December 12, 2013.
About Mitsubishi Heavy Industries, Ltd. Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world’s leading heavy machinery manufacturers, with consolidated sales of 2,817.8 billion yen in fiscal 2012, the year ended March 31, 2013. MHI’s diverse lineup of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space systems and air-conditioning systems. For more information, please visit the MHI website below: http://www.mhi.co.jp/en/index.html
About Hitachi, Ltd. Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 326,000 employees worldwide. The company’s consolidated revenues for fiscal 2012 (ended March 31, 2013) totaled 9,041 billion yen ($96.1 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional material & components, automotive systems and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.