MHI Decides Capital Amount of Preparatory Company to Be Established for Split-off of Air-conditioning & Refrigeration Business
Tokyo, February 9, 2016 - As announced on February 4, Mitsubishi Heavy Industries, Ltd. (MHI) will split off its air-conditioning & refrigeration business to a wholly-owned Group company, initially establishing a preparatory company that will later succeed to the pertinent business from MHI in an absorption-type company split. The capital amount of the preparatory company, which remained undecided at the time the announcement was made, has now been set as indicated (underlined) below.
Profile of the Preparatory Company (to subsequently become the successor company)
Company name: MHI Air-Conditioning & Refrigeration Co., Ltd.
Head office location: 16-5, Konan 2-chome, Minato-ku, Tokyo, Japan
Representative: Kaoru Kusumoto, President and CEO
Business description: Design, manufacture, sales and after-sale servicing of
air-conditioning & refrigeration systems and ancillary products
Capital: 150 million yen
Shareholder: Mitsubishi Heavy Industries, Ltd. (100%)
Date of establishment: February 2016 (scheduled)