1. Home
  2. Press release
Oct 31, 2018 14:00 JST

Source: Mitsubishi Heavy Industries, Ltd.

MHI Increases Capital in Mitsubishi Aircraft Corporation

TOKYO, Oct 31, 2018 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) has decided to increase the capitalization of Mitsubishi Aircraft Corporation (Mitsubishi Aircraft), a wholly owned MHI Group company, as it nears the first delivery of the Mitsubishi Regional Jet (MRJ), the industry's only clean sheet regional aircraft.

The decision by MHI to increase its investment in Mitsubishi Aircraft has two objectives: first, to add 170 billion yen to the company's capital, and second to cancel 50 billion yen of the total debt owed by Mitsubishi Aircraft to MHI. The added capital will bring Mitsubishi Aircraft out of its capital deficit and provide the company with funds to enable continued development of the MRJ.
As of March 31, 2018, the company's liabilities exceeded assets by 110 billion yen. With the 170 billion yen to be acquired from MHI, Mitsubishi Aircraft will allocate 85 billion yen to its capital and an equal amount to its capital reserve. Simultaneously, MHI will cancel 50 billion yen of the total debt owed to it by Mitsubishi Aircraft. The infusion of 170 billion yen will increase Mitsubishi Aircraft's paid-in capital from 100 billion yen to 270 billion yen.

The capital infusion from MHI will be allocated mainly to development of the MRJ90 and to future expenditures borne by MHI in preparation for commercialization.

Business results and the financial status of MHI's Group companies are continuously factored into the Company's consolidated financial statements. The capital increase in Mitsubishi Aircraft indicated here will have no impact on MHI's consolidated results.

Contact:
Corporate Communication Department
Mitsubishi Heavy Industries, Ltd.
Email: mediacontact_global@mhi.co.jp
Tel: +81-(0)3-6716-2168
Fax: +81-(0)3-6716-5860
Source: Mitsubishi Heavy Industries, Ltd.
Sectors: Aerospace & Defence

Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release

MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
April 25 2024 16:45 JST
 
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
April 18 2024 16:01 JST
 
Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
April 12 2024 13:39 JST
 
MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
April 11 2024 17:08 JST
 
Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS)
April 11 2024 16:50 JST
 
Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine
April 10 2024 15:55 JST
 
Mitsubishi Power Receives Order from HK Electric for Natural-gas-fired GTCC Power Generation Equipment
April 09 2024 14:04 JST
 
MHI Thermal Systems Adds New KXZ3 Series of Building-use Multi-Split Air- Conditioners Adopting R32 Refrigerant
April 09 2024 12:40 JST
 
MHI Concludes Positive Impact Finance Agreement
March 29 2024 18:20 JST
 
Mitsubishi Shipbuilding Receives Order from the University of Tokyo for "MiPoLin" Power Prediction and Lines Selection System
March 28 2024 15:45 JST
 
More Press release >>

Latest Press Release


JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan
Apr 26, 2024 10:00 JST

Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST

MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST

GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST

Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST

Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST

UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST

Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST

MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST

Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST

NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST

Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST

Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST

NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST

Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST

TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST

First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST

Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST

Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST

Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
 More Latest Release >>