Mar 19, 2021 17:07 JST

Source: Mitsubishi Corporation

Signing of Agreement to Transfer Shares of MUL and HCC to MC

TOKYO, Mar 19, 2021 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce its signing today of a share-transfer agreement with Mitsubishi UFJ Financial Group, Inc. (MUFJ) and MUFG Bank, Ltd. (MUFG Bank). Under the terms of the agreement, MUFG and MUFG Bank will transfer to MC some of their shares in both Mitsubishi UFJ Lease & Finance Company Limited (MUL) and Hitachi Capital Corporation (HCC). See details below.

 


2. Additional Information
On September 24, 2020, MUL and HCC released a joint statement announcing their intentions to integrate operations through an absorption-type merger, which is set to go into effect on April 1, 2021. MUL and HCC will be the surviving and merged companies respectively, with the former renamed Mitsubishi HC Capital Inc.

MC, which following the merger will own approximately 18% of the new company, has plans to make it an equity-method affiliate once its integration is completed. As one of its main shareholders, MC will continue to collaborate on its future growth and development.

3. Impact on Financial Results
The impact of this share transfer on MC's financial results for the current fiscal year is expected to be minimal.

Source: Mitsubishi Corporation
Sectors: Engineering

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

Related Press Release


Mitsubishi Corporation and 7 large international companies join forces to sponsor the creation of a global e-NG coalition
March 19 2024 15:40 JST
 
Nissan and Mitsubishi Corporation agree to explore new business in next-generation-mobility and energy-related services utilizing EVs
March 18 2024 16:29 JST
 
Mitsubishi Corp to invest in TIER IV: Transforming regional mobility with autonomous driving
March 15 2024 11:36 JST
 
Mitsubishi Corporation: Participation in PAK Lithium Project in Canada
March 05 2024 15:57 JST
 
Mitsubishi Corporation Expands its Data Center Presence with Entry into US
March 04 2024 14:27 JST
 
Mitsubishi Corporation's Sale of Exportadora de Sal, S.A. de C.V., a Salt Production Company in Mexico
February 26 2024 13:29 JST
 
MC to Subscribe Shares in TVS Vehicle Mobility Solution in India
February 19 2024 16:42 JST
 
PoC Launched to Test Smart-charging Service Using EV Connected Technologies
February 15 2024 15:50 JST
 
Mitsubishi Corporation, KDDI CORPORATION, Lawson, Inc. have entered into the Capital Business Partnership Agreement
February 06 2024 16:27 JST
 
First Plant to be Operated under Hydroelectric Power Alliance Goes Online
February 01 2024 20:13 JST
 
More Press release >>

Latest Press Release


More Latest Release >>