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Update on Conclusion of Absorption-type Company Split Agreement on Transfer of Air-Conditioning & Refrigeration Business to Wholly Owned Subsidiary
Update on Conclusion of Absorption-type Company Split Agreement on Transfer of Air-Conditioning & Refrigeration Business to Wholly Owned Subsidiary
No.1989
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Tokyo, June 8, 2016 - As announced on May 17, Mitsubishi Heavy Industries, Ltd. (MHI) is to conclude an absorption-type company split agreement on the transfer of its air-conditioning & refrigeration (AC&R) business to MHI Air-conditioning & Refrigeration Co., Ltd. (MHI-AC&R), a wholly owned subsidiary. At that time, the name and representative of the successor company post-split remained to be announced, and these details have now been decided as indicated in the table below (items in italics).
| Successor Company | |
|---|---|
| (1) Name | Mitsubishi Heavy Industries Thermal Systems, Ltd. |
| (2) Head office | 16-5, Konan 2-chome, Minato-ku, Tokyo, Japan |
| (3) Representative | Kaoru Kusumoto, President & CEO |
| (4) Business | Business related to design, manufacture, procurement, quality assurance, sales and after-sales services of air-conditioning & refrigeration systems (including ancillary business) |
| (5) Capital | 12,000 million yen |
| (6) Fiscal year end | March 31 |