Press Information

New MHI Subsidiary Dedicated to Car Air-Conditioner Business
To Commence Operations in January

No.1611
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Tokyo, December 26, 2012 - Mitsubishi Heavy Industries Automotive Thermal Systems Co., Ltd. will commence operations in January next year as a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI) dedicated exclusively to business in car air-conditioners. With creation of the new company, MHI aims to establish a business structure of robust strength and dynamic agility to respond swiftly to changes in this fiercely competitive market. It also seeks to accelerate global business development in a quest to secure a solid position in competition against existing companies dedicated to car air-conditioner business.

MHI Climate Control Co., Ltd., a preparatory unit which MHI has established in this September, will succeed MHI's car air-conditioner business through an absorption-type split, and commence operations on January 1, under the new corporate name of Mitsubishi Heavy Industries Automotive Thermal Systems Co., Ltd. The head office of the new company will be located in Kiyosu City, Aichi Prefecture, and it will take over pertinent plants and other organizations, including the Matsusaka Plant in Matsusaka City, Mie Prefecture. Operations will comprehensively encompass development, design, manufacturing, sales and servicing of car air-conditioning products. Initially the company will have approximately 300 employees, with Kimiharu Takeda, head of the preparatory company, serving as its president.

MHI intends to work closely with the new company and is committed to supporting its business development fully by further enhancing the synergy benefits from car air-conditioner business and MHI's other air-conditioning and refrigeration system operations.

Profile of the new company
Company name:Mitsubishi Heavy Industries Automotive Thermal Systems Co., Ltd.
Business scope:Development, design, manufacturing, sales and servicing of 
                           car air-conditioning products
Head office: 3-1, Asahi, Nishi-biwajima-cho, Kiyosu City, Aichi Prefecture
President:Kimiharu Takeda
Capital:1 billion yen
Number of employees: 300 (approx.)