Agreement Approved on Split-off of MHI’s Industrial Thermal Power Plant Domestic Business Operations to Wholly Owned SubsidiaryAbsorption-Type Company Split Agreement • November 18th, 2020
At a meeting of its Board of Directors convened today, Mitsubishi Heavy Industries, Ltd. (MHI) formally approved an absorption-type company split agreement under which, as the company announced on May 30, its industrial thermal power plant business for Japanese domestic customers will be split off and succeeded by MHI Plant Engineering Co., Ltd. (MHIPEC), a wholly owned MHI subsidiary. Details of the reorganization initiative are provided below, with some abridgment owing to the nature of the transfer of operations to a wholly owned subsidiary.