Key Developments: Mitsubishi Heavy Industries Ltd (7011.T)

7011.T on Tokyo Stock Exchange

570JPY
18 Apr 2014
Price Change (% chg)

¥3 (+0.53%)
Prev Close
¥567
Open
¥572
Day's High
¥573
Day's Low
¥566
Volume
6,822,000
Avg. Vol
18,464,889
52-wk High
¥765
52-wk Low
¥513

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Latest Key Developments (Source: Significant Developments)

Mitsubishi Heavy Industries Ltd. and NEC Corp to Co-develop Energy Forecast System for Ships - Asahi Shimbun
Monday, 11 Nov 2013 07:00pm EST 

Asahi Shimbun reported that Mitsubishi Heavy Industries Ltd. and NEC Corp will jointly develop an Energy Demand Forecast System for Ships to lower operating costs and reduce environmental burdens, company officials said on November 11, 2013.  Full Article

MIYAJI ENGINEERING GROUP INC and Subsidiary to Form Business Alliance with Mitsubishi Heavy Industries Ltd and Subsidiary
Thursday, 7 Nov 2013 01:00am EST 

MIYAJI ENGINEERING GROUP INC announced that MIYAJI ENGINEERING GROUP INC and its subsidiary, MIYAJI ENGINEERING CO., LTD. have signed an agreement with Mitsubishi Heavy Industries Ltd and its subsidiary, MITSUBISHI HEAVY INDUSTRIES BRIDGE & STEEL STRUCTURES ENGINEERING CO., LTD., to cooperate in bridge business. The details are in discussion.  Full Article

Mitsubishi Heavy Industries Ltd, Mitsubishi Corp and Bank of Tokyo-Mitsubishi UFJ Ltd to Establish Anonymous Association
Tuesday, 5 Nov 2013 10:15pm EST 

Mitsubishi Heavy Industries Ltd announced that it will establish a anonymous association with Mitsubishi Corp and Bank of Tokyo-Mitsubishi UFJ Ltd, through a subsidiary of Mitsubishi Heavy Industries, to raise their voting rights in Mitsubishi Motors Corp to more than 20% in total.  Full Article

Mitsubishi Heavy Industries Ltd Announces Consortium of Five Japanese Companies to Acquire Stake in ECOVIX Engevix Construcoes Oceanicas - MSN Sankei
Monday, 21 Oct 2013 11:33pm EDT 

MSN Sankei reported that Mitsubishi Heavy Industries, Ltd. (MHI), Imabari Shipbuilding Co., Ltd., Namura Shipbuilding Co., Ltd., Oshima Shipbuilding Co., Ltd. and Mitsubishi Corporation – have agreed to acquire a stake in ECOVIX Engevix Construcoes Oceanicas S.A. (ECOVIX), a Brazilian shipbuilder. A Share Purchase Agreement (SPA) between the Japanese consortium and the Brazilian partners was signed on October 22, 2013. The initiative marks the first investment by a Japanese consortium consisting of shipbuilding companies and a trading company into a Brazilian shipbuilder, aiming at mutual prosperity through the provision by the Japanese side of technology and operating know-how in line with Brazil's strategy for promoting its domestic industries. Under this initiative, the Japanese consortium, led by MHI, will acquire a 30% capital stake in ECOVIX. Plans call for the acquisition to be completed as soon as the parties obtain the Brazilian antitrust authority approval through JB MINOVIX INVESTIMENTOS E PARTICIPACOES S.A., a special-purpose company (SPC) to be established in Brazil by the five consortium partners. MHI will own the majority of all shares in the SPC, with the other four Japanese partners holding the remaining shares.  Full Article

Mitsubishi Heavy Industries Ltd and Japan Firms to Invest in Brazilian Shipbuilder- Nikkei
Saturday, 19 Oct 2013 08:00pm EDT 

Nikkei reported that Mitsubishi Heavy Industries Ltd and four other Japanese firms plan to join forces to invest in a Brazilian shipbuilder to compete in the lucrative market for resource-exploration vessels. The consortium comprises Mitsubishi Heavy Industries, Imabari Shipbuilding Co., Mitsubishi Corp, Namura Shipbuilding Co Ltd and Oshima Shipbuilding Co. The group will purchase a roughly 30% stake in Ecovix-Engevix Construcoes Oceanicas S/A for about JPY 30 billion by the end of this fiscal year 2013. Mitsubishi Heavy will likely pay for roughly half of the JPY 30 billion stake, with the rest to be split equally among the other four companies.  Full Article

Mitsubishi Heavy Industries Ltd Transfers Holdings of Kobe Diesel Co Ltd to Subsidiary
Tuesday, 1 Oct 2013 02:00am EDT 

Kobe Diesel Co Ltd announced that Mitsubishi Heavy Industries Ltd has transfered all its holding shares of Kobe Diesel to a wholly owned subsidiary of Mitsubishi Heavy Industries. As a result, the subsidiary of Mitsubishi Heavy Industries has become the top shareholder of Kobe Diesel with 33.12% voting rights, up from 0.00%, while Mitsubishi Heavy Industries is no longer holding any voting rights of Kobe Diesel, down from 33.12%, effective October 1, 2013.  Full Article

Mitsubishi Heavy Industries Ltd to Establish Joint Venture with Vestas Wind Systems A/S
Friday, 27 Sep 2013 01:50am EDT 

Mitsubishi Heavy Industries Ltd announced that it has decided to establish a joint venture with Vestas Wind Systems A/S. The joint venture will be engaged in the development, designing, manufacturing and provision of after service for sea windmills, based in Denmark. Mitsubishi Heavy Industries Ltd and Vestas Wind Systems A/S will hold a 50% stake in the joint venture respectively. The joint venture is expected to start operating since March 2014.  Full Article

Mitsubishi Heavy Industries Ltd Receives Order - Yomiuri Online
Friday, 27 Sep 2013 12:42am EDT 

Yomiuri Online reported that Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Telesat, a satellite operator headquartered in Ottawa, Canada, to provide launch services for Telesat’s new Telstar 12 VANTAGE satellite. The launch is scheduled to take place late 2015 and marks the first time MHI has received an order to launch a commercial satellite. The order amount is not disclosed.  Full Article

Mitsubishi Heavy Industries Ltd Receives Surcharge Order from the United States Department of Justice
Thursday, 26 Sep 2013 08:01pm EDT 

Mitsubishi Heavy Industries Ltd announced that it will pay a surcharge of USD 14,500,000 to the United States Department of Justice, due to the violation of the Unites States antitrust law in the sale of car air-conditioner-oriented compressor and condenser of the Company.  Full Article

Toyo Engineering Works Ltd Announces Partial Change to Article of Incorporation to Enable Full Acquisition by Mitsubishi Heavy Industries Ltd; Announces Delisting of Stock from Stock Exchanges
Thursday, 26 Sep 2013 04:30am EDT 

Toyo Engineering Works Ltd announced that it has received shareholders' approval to make partial change to its article of incorporation to enable Mitsubishi Heavy Industries Ltd to wholly own Toyo Engineering Works. Mitsubishi Heavy Industries Ltd conducted a takeover bid for the shares of Toyo Engineering Works during the period from May 31, 2013 to July 11, 2013, to hold a 96.35% stake in Toyo Engineering Works. As Mitsubishi Heavy Industries Ltd intends to wholly own Toyo Engineering Works, Toyo Engineering Works has made a change to its article of incorporation to issue Class A classified stock. 1/2,100,000 share of Class A share will be exchanged with one share of Toyo Engineering Works's common stock, effective November 8, 2013. Toyo Engineering Works also announced that its stock will be delisted from the Tokyo Stock Exchange as of November 26, 2013.  Full Article

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Japan relaxes arms export regime to fortify defense

TOKYO - Japan eased its weapons export restrictions on Tuesday in the first major overhaul of arms transfer policy in nearly half a century, as Prime Minister Shinzo Abe seeks to fortify ties with allies and bolster the domestic defense industry.

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