By Kosaku Narioka
Mitsubishi Electrical Corp. and Mitsubishi Heavy Industries Ltd. mentioned Monday that they deliberate to merge their power-generator companies in a bid to enhance market competitiveness.
Mitsubishi Electrical is predicted to be the bulk shareholder of the brand new mixed firm and Mitsubishi Heavy Industries is predicted to be the minority shareholder, the businesses mentioned.
Mitsubishi Electrical and Mitsubishi Heavy Industries are aiming to strengthen their market competitiveness by integrating their respective companies and mixing their applied sciences and property, they mentioned.
Efforts to attain carbon neutrality are accelerating world wide, whereas electrical energy demand is predicted to extend on account of financial progress, primarily in rising nations, and consciousness of power safety has elevated, they mentioned.
Mitsubishi Electrical and Mitsubishi Heavy Industries mentioned they plan to signal a definitive settlement in late Could 2023 and full the merger of their power-generator companies on April 1, 2024.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
