Mitsubishi Electric Announces Execution Of Company Split Agreement - Quick Facts

(RTTNews) - Mitsubishi Electric Corporation (MIELF.PK, MIELY.PK) has executed a company-split agreement and formally established a wholly owned subsidiary, Melco Automotive Equipment Business Split Preparation Corporation. The establishment of Melco Automotive Equipment Business Split Preparation Corporation is dated November 1, 2023. With execution of Company Split Agreement on November 15, 2023, the effective date for the scheduled company split is April 1, 2024. The Succeeding Company has a paid-in capital of 10 million yen with 1,000 shares issued.

Mitsubishi Electric Corp. noted that the latest update is in line with the previous announcement issued on October 31 to transfer Automotive-equipment Business to new subsidiary as part of restructuring.