Details Of Mitsubishi Electric’s New Building Systems Subsidiary

Mitsubishi Electric announced the head office and president/representative director for its new Mitsubishi Electric Building Solutions Corp. subsidiary on February 17. They are, respectively, 7-1 Yurakucho 1-Chome, Chiyoda-ku, Tokyo, and Tadashi Matsumoto. The moves follow the OEM transferring its Building Systems business and assets, which include the manufacture and sales of vertical-transportation equipment such as elevators and escalators, to the subsidiary. Becoming effective on April 1, the restructuring known as a “simplified absorption company split” did not require shareholder approval. The new subsidiary represents one of Mitsubishi Electric’s key growth areas, and the move promises to expand the scale of business and “improve profitability by investment management resources more intensively to drive growth.”