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MHI and JTEKT Agree to Discontinue Talks on Tie-up in Machine Tools Business

Mitsubishi Heavy Industries, Ltd.
Mitsubishi Heavy Industries Machine Tool Co., Ltd.
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Tokyo, May 25, 2018 - Mitsubishi Heavy Industries, Ltd. (MHI) and its wholly owned Group company Mitsubishi Heavy Industries Machine Tool Co., Ltd. (MAT) announced on December 22, 2017 that they had reached a basic agreement with JTEKT Corporation to commence discussions toward forming a business partnership that included capital participation. However, the parties have now agreed to discontinue these discussions and terminate the basic agreement.