Mitsubishi Heavy Industries and Hitachi Conclude Absorption-Type Company Split Agreement on Business Integration in the Thermal Power Generation Systems Field
Tokyo, July 31, 2013 - Mitsubishi Heavy Industries, Ltd. (TSE: 7011, "MHI") and Hitachi, Ltd. (TSE: 6501, "Hitachi") today announced that the two companies respectively signed absorption-type company split agreements (the "Absorption-type Company Split Agreements") with the new company established by MHI (the "Integrated Company") in order to transfer the business centered on the thermal power generation systems of both companies (the "Integrated Business") by way of company split (the "Absorption-type Company Split") in relation to integrating the Integrated Business (the "Business Integration") in accordance with a basic integration agreement and a joint venture agreement on June 11, 2013 in relation to the Business Integration (the "Definitive Agreements") as announced in a press release titled "Mitsubishi Heavy Industries and Hitachi Conclude Definitive Agreement on Business Integration in the Thermal Power Generation Systems Field" on June 11, 2013 (the "June 11, 2013 Announcement").
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