Mitsubishi Electric Ups Presence in China's Energy-System Market

  Mitsubishi Electric Ups Presence in China's Energy-System Market

     New firm expected to grow energy-system revenue in China to 30B Yen

Business Wire

TOKYO -- October 16, 2013

Mitsubishi Electric Corporation (TOKYO:6503) announced today that it has
established Mitsubishi Electric Power & Electrical Infrastructure Systems
(Beijing) Co., Ltd. (MEPIC) in Beijing, China to provide energy-system sales,
engineering and related services. The company, which will start operating in
December, plans to open branches in Shanghai and Guangzhou.

MEPIC, an offshoot of the energy system division of Mitsubishi Electric &
Electronics (Shanghai) Co., Ltd., will operate under Mitsubishi Electric
(China) Co., Ltd., Mitsubishi Electric’s regional corporate office and
investment company in China. It is expected to upgrade Mitsubishi Electric’s
energy-system business in China with stronger customer sales, increased
cooperation with Chinese partners, including exports, expanded repair and
maintenance services, and entry into new businesses, such as smart grids.
Energy-system revenue is envisioned to rise from 20 billion Yen in 2013 to 30
billion Yen in 2017.

China is forecast to surpass North America with the world’s largest power
generation capacity by 2020. Demand for power-generation facilities is
expected to remain strong, given that it is a top priority both in the current
and subsequent five-year plans.


New Energy System Company
Company Name  Mitsubishi Electric Power & Electrical Infrastructure Systems
               (Beijing) Co., Ltd. (MEPIC)
CEO            Jun Hasegawa
Location       Beijing, China
Ownership      Mitsubishi Electric (China) Co., Ltd.: 100%
Capital        3 million USD
Established    September 18, 2013
Employees      50
                 *Energy-system facilities for power generation, energy
                   transmission and distribution, and energy receiving and
Business          distribution
                 *Instruments and controls system
                 *Sales and engineering services for smart grids and other
                   businesses
               

About Mitsubishi Electric Corporation

With over 90 years of experience in providing reliable, high-quality products,
Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in
the manufacture, marketing and sales of electrical and electronic equipment
used in information processing and communications, space development and
satellite communications, consumer electronics, industrial technology, energy,
transportation and building equipment. Embracing the spirit of its corporate
statement, Changes for the Better, and its environmental statement, Eco
Changes, Mitsubishi Electric endeavors to be a global, leading green company,
enriching society with technology. The company recorded consolidated group
sales of 3,567.1 billion yen (US$ 37.9 billion*) in the fiscal year ended
March 31, 2013. For more information visit http://www.MitsubishiElectric.com
*At an exchange rate of 94 yen to the US dollar, the rate given by the Tokyo
Foreign Exchange Market on March 31, 2013

Contact:

Mitsubishi Electric Corporation
Customer Inquiries
Overseas Marketing Division
Energy & Industrial Systems Group
https://www.MitsubishiElectric.com/ssl/contact/bu/powersystems/form.html
http://www.MitsubishiElectric.com/bu/powersystems/
or
Media Inquiries
Katsunobu Muroi, +81-3-3218-2346
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
http://www.MitsubishiElectric.com/news/
 
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