Mitsubishi Heavy Industries Ltd (7011.T) Key Developments | Reuters.com
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Mitsubishi Heavy Industries Ltd (7011.T)

7011.T on Tokyo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Mitsubishi Heavy Industries lowers consolidated full-year outlook for FY 2016
Wednesday, 3 Feb 2016 11:30pm EST 

Mitsubishi Heavy Industries Ltd:Says the company lowered the consolidated full-year outlook for revenue to 4,100,000 million yen from 4,200,000 million yen for the fiscal year ending March 31, 2016.Sees a decrease of operating profit forecast to 300,000 million yen from 320,000 million yen.Sees a decrease of ordinary profit forecast to 270,000 million yen from 300,000 million yen.Sees a decrease of net profit forecast to 90,000 million yen from 130,000 million yen.Sees a decrease of earnings per share to 26.81 yen from 38.73 yen.FY 2016 revenues of 4,230.83 billion yen, net profit of 144.89 billion yen – Thomson Reuters I/B/E/S.Comments that decreased sales of transportation business, and increased costs are the main reasons for the forecast.  Full Article

Mitsubishi Heavy Industries to transfer air-conditioning & refrigeration systems business to new wholly owned subsidiary
Wednesday, 3 Feb 2016 11:30pm EST 

Mitsubishi Heavy Industries Ltd:To transfer its air-conditioning & refrigeration systems business its new wholly owned subsidiary.The new subsidiary will be established in Feb. 2016.Business transfer effective Oct. 1.  Full Article

Mitsubishi Nichiyu Forklift announces top shareholder change to replace Mitsubishi Heavy Industries Ltd
Wednesday, 3 Feb 2016 11:30pm EST 

Mitsubishi Nichiyu Forklift Co., Ltd:Says a company A, which is engaged in the forklift and engine turbo charger business (company name is to be determined), will become Mitsubishi Nichiyu Forklift's top shareholder, to replace Mitsubishi Heavy Industries Ltd.Company A will hold 49.41 pct stakes in Mitsubishi Nichiyu Forklift, up from 0 pct.Effective date March 2016.  Full Article

Mitsubishi Heavy Industries Ltd - Suspicious fires hit delayed liner at Mitsubishi Heavy shipyard - KYDO
Saturday, 30 Jan 2016 11:48am EST 

Mitsubishi Heavy Industries Ltd:Police are investigating the possibility of arson aboard a cruise ship under construction at Mitsubishi Heavy Industries Ltd.'s shipyard in the southwestern Japanese city of Nagasaki following a fire in the early hours of Sunday, the third such incident this month - KYDO.According to local police and firefighters, a worker at the Koyagi plant of the company's Nagasaki Shipyard & Machinery Works found cardboard and insulation material ablaze aboard the 124,500-ton AIDA Prima, one of two ships ordered by German cruise line AIDA Cruises. - KYDO.Firefighters said workers quickly put out the fire and no injuries were reported. Sunday's incident follows a fire in electrical wiring near a theater space on Jan. 11, and fire in a cabin involving a piece of cloth on Jan. 13. - KYDO.The fires come after delivery of the ship, originally planned for March last year, has been repeatedly delayed amid design changes. - KYDO.The current delivery deadline is April this year. The AIDA Cruises brand is operated by global cruise ship giant Carnival Corporation & plc. - KYDO.At the same shipyard in 2002, a fire aboard the 113,000-ton Diamond Princess then under construction took some 19 hours to extinguish, leaving the luxury liner with extensive damage. - KYDO.  Full Article

Mitsubishi Nichiyu Forklift Mitsubishi Nichiyu Forklift and Mitsubishi Heavy Industries updates in acquisition of UniCarriers Holdings
Thursday, 17 Dec 2015 09:00pm EST 

Mitsubishi Nichiyu Forklift Co., Ltd:Changes transaction date to March, 2016 from Dec. 30.  Full Article

R&I affirms Mitsubishi Heavy Industries' rating at "A+" and announces stable outlook
Thursday, 20 Aug 2015 02:00am EDT 

Mitsubishi Heavy Industries Ltd:Rating and Investment Information, Inc. (R&I) affirmed the company's rating at "A+".Rating outlook stable.  Full Article

Mitsubishi Heavy Industries announces private placement of treasury stock
Friday, 31 Jul 2015 03:10am EDT 

Mitsubishi Heavy Industries Ltd:To distribute 6,183,000 shares of its treasury common stock at 707 yen per share through private placement to The Master Trust Bank of Japan ,Ltd.To raise 4,371,381,000 yen in total through private placement.Says placement date is Aug. 28.  Full Article

Mitsubishi Nichiyu Forklift and Mitsubishi Heavy Industries to acquire UniCarriers Holdings
Friday, 31 Jul 2015 12:30am EDT 

Mitsubishi Nichiyu Forklift Co., Ltd:Mitsubishi Nichiyu Forklift and Mitsubishi Heavy Industries to acquire 100 pct voting rights (377,500 shares) in Tokyo-based company UniCarriers Holdings, from Innovation Network Corporation of Japan, Hitachi Construction Machinery and NISSAN MOTOR, on Dec. 30.Acquisition price of more than 110,000 mln yen.  Full Article

Mitsubishi Heavy Industries updates business transfer to wholly owned subsidiary
Friday, 31 Jul 2015 12:30am EDT 

Mitsubishi Heavy Industries Ltd:To transfer Hydraulic machine, accelerator, and Intelligent Transport Systems business to a wholly owned Kobe-based subsidiary Mitsubishi Heavy Industries Mechatronics Systems Ltd, and the two entities have signed a transfer contract on July 31.Transfer Hydraulic machine, accelerator business effective Oct. 1 and Transfer Intelligent Transport Systems business effective Nov. 1.  Full Article

Mitsubishi Heavy Industries to transfer business to Osaka-based subsidiary
Tuesday, 26 May 2015 12:00am EDT 

Mitsubishi Heavy Industries Ltd:To transfer machine tool business to a wholly owned Osaka-based subsidiary that has been engaged in sales of machine tools and related products, consulting, etc.Effective Oct. 1.  Full Article

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Japan plans July fighter jet tender seen worth $40 billion as China tensions simmer

SINGAPORE Japan will launch a tender for fighter jets as soon as mid-July, the Ministry of Defence said, in a deal seen worth up to $40 billion as Tokyo seeks to bolster its air defenses amid creeping tension with China over disputed maritime borders.