MHI to Integrate 2 Group Companies on October 1st To Strengthen Domestic Air-Conditioning and Refrigeration Business
-- Move Will Enhance Marketing Strength through United Sales Networks -

Both entities involved in the integration initiative are wholly owned subsidiaries of MHI. Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation performs marketing, installation and after-sale servicing of air-conditioners (both residential and commercial use), heating systems, cold storage and refrigeration products, centrifugal chillers and peripheral equipment. Kusakabe markets heating systems for both the public sector (schools, etc.) and private sector (factories, etc.). Following integration, the new company will continue to be known as Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation. It will be capitalized at 400 million yen.

Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation was launched in October 2013 through the integration of two sales companies respectively handling AC&R products and centrifugal chillers. In addition to pursuing stronger marketing and servicing functions, the integrated entity has been working to expand its solutions business, including integrated marketing and maintenance services, for heat pumps and chillers – markets currently in an expansionary trend.

Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation, through integration with Kusakabe, will now boost its heating systems operations, aiming for increased sales leveraging the expanded network achieved via last year's integration. At the same time, the company will pursue maximum synergy merits from the new integration by aggressively expanding sales of heat pumps, chillers, etc. through the public-sector sales routes developed by Kusakabe for its heating systems.

MHI will work closely with the newly integrated Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation and fully support its future business development.