Notice Concerning Mitsubishi Hitachi Power Systems Share Transfer Schedule
-- Notice of Disclosure Status --

Tokyo, July 31, 2020 – On April 24, 2020, Mitsubishi Heavy Industries, Ltd. (MHI) issued a Notice of Disclosure Status related to scheduling of the transfer of all Mitsubishi Hitachi Power Systems, Ltd. (MHPS) shares held by Hitachi, Ltd. to MHI. The Notice stated that MHI would make an announcement once a specific date for completion of the share transfer became clear.

As part of various procedures required to complete the share transfer, the necessary approvals have now been received from antitrust authorities. As a result, the following schedule will be implemented going forward.

  • Completion of share transfer and change of company name
    The transfer of all shares will be completed effective September 1, 2020. On that same date, MHPS will adopt a new company name: Mitsubishi Power, Ltd.
  • Impact on MHI’s Consolidated Statement of Financial Position
    In tandem with the transfer of MHPS shares, the near 410 billion yen in “indemnification assets for South African projects” booked in MHI’s Consolidated Statement of Financial Position shall be fully recovered, and “bonds, borrowings and other financial liabilities” will decrease by the same amount.
  • Impact on MHI’s earnings
    The foregoing share transfer and related matters will have minimal impact on MHI’s FY2020 financial results, both consolidated and non-consolidated.