Ministry of Economy, Trade and Industry
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Authorization of a Specified Business Restructuring Plan Submitted by Mitsubishi Heavy Industries, Ltd. and Hitachi, Ltd. under the Industrial Competitiveness Enhancement Act

On January 30, 2014, the Ministry of Economy, Trade and Industry (METI) authorized a specified business restructuring plan under the Industrial Competitiveness Enhancement Act, submitted by Mitsubishi Heavy Industries, Ltd. and Hitachi, Ltd.

In accordance with this plan, the two companies will integrate their related businesses through a merger, so as to survive the intensified global competition, as well as meet the demand for thermal power generation systems, which are proactively utilized worldwide, by providing customers with high technology, quality and trustworthiness. By doing so, they aim to exercise the effect of the merger by integrating their technical abilities, sales techniques, and service qualities.

1. Authorization of the Specified Business Restructuring Plan

METI examined the specified business restructuring plan submitted by Mitsubishi Heavy Industries, Ltd. and Hitachi, Ltd. pursuant to Article 26, paragraph (4) of the Industrial Competitiveness Enhancement Act. METI concluded that the companies satisfied the requirements specified by said Act as entrepreneurs who are to carry out a business restructuring defined by Article 2, paragraph (12) of said Act, and authorized the plan.

The companies are now eligible for a reduction of the registration and license tax required for the capital increase and real property registration upon the merger as well as for a tax program for facilitating business restructuring.

2. Implementation Period

From February 2014 to January 2024

3. Applicants’ Profile

Name:
Mitsubishi Heavy Industries, Ltd.
Capital:
265,608 million yen
Head Office:
16-5 Konan 2-chome, Minato Ward, Tokyo
Name:
Hitachi, Ltd.
Capital:
458,790 million yen
Representative:
Hiroaki Nakanishi, president
Head Office:
6-6, Marunouchi 1-chome, Chiyoda Ward, Tokyo,

Reference:

For details of the Act, please visit the following website:
http://www.meti.go.jp/english/policy/economy/industrial_competitiveness_act/index.html

Release Date

January 30, 2014

Division in Charge

Industrial Machinery Division, Manufacturing Industries Bureau

Ministry of Economy, Trade and Industry
1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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