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ANNUAL REPORT 2011

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DISCOVERING OUR POTENTIAL

Management

PRINCIPAL SUBSIDIARIES AND AFFILIATES (As of March 31, 2011)

Business Service Group

COMPANY NAME VOTING RIGHTS (%) MAIN BUSINESS
<Subsidiaries>
Bewith, Inc. (Japan)(Open in new window) 100.00 Outsourcing service provider (Contact Center)
IT Frontier Corporation (Japan)(Open in new window) 100.00 IT-related business solutions, system integration services, IT management services and product marketing, etc.

Global Environment Business Development Group

COMPANY NAME VOTING RIGHTS (%) MAIN BUSINESS
<Subsidiaries>
Diamond Generating Asia, Limited (Hong Kong) 100.00 Independent power producer
Diamond Generating Corporation (U.S.A.)(Open in new window) 100.00 Independent power producer
TeaM Diamond Holding Corporation (Philippines) 51.21 Independent power producer
<Equity-method affiliates>
Amper Central Solar, S.A. (Portugal) 34.40 Solar photovoltaic energy
Curaçao Energy Company, Ltd. (Cayman Islands, British overseas territory) 50.00 Independent power producer
Electricidad Aguila de Tuxpan, S. de R.L. de C.V. (Mexico) 50.00 Independent power producer
Frontier Carbon Corporation (Japan)(Open in new window) 50.00 Production and sales of fullerenes

Industrial Finance, Logistics & Development Group

COMPANY NAME VOTING RIGHTS (%) MAIN BUSINESS
<Subsidiaries>
Alternative Investment Capital Ltd. (Japan)(Open in new window) 51.00 Investment management business
Diamond Realty Investments, Inc. (U.S.A.) 100.00 Real estate investment
Diamond Realty Management Inc. (Japan)(Open in new window) 100.00 Real estate asset management and investment advisory
Healthcare Management Partners, Inc. (Japan)(Open in new window) 66.00 Investment management business
Lifetime Partners, Inc. (Japan) 100.00 Management support for hospitals and nursing care providers
MC ASSET MANAGEMENT (Japan) 100.00 Financial instruments dealing business
MC Aviation Financial Services (Europe) B.V. (The Netherlands) 100.00 Aircraft leasing and finance
MC Aviation Partners Inc. (Japan)(Open in new window) 100.00 Aircraft leasing and management services
MC Capital Europe Ltd. (U.K.) 100.00 Investment and related activities
MC Capital Inc. (U.S.A.) 100.00 Investment and related activities
MC Finance International B.V. (The Netherlands) 100.00 Financial investment company
MC Financial Services Ltd. (U.S.A.) 100.00 M&A advisory and private equity investment
MC Terminal Co., Ltd. (Japan) 100.00 Tankyard operation
Mcap Europe Limited (Ireland) 100.00 Aircraft leasing and management services
Mitsubishi Corporation Insurance Co., Ltd. (Japan)(Open in new window) 100.00 Insurance agency
Mitsubishi Corporation LT, Inc. (Japan)(Open in new window) 100.00 Warehousing and total logistics services
Mitsubishi Corp.-UBS Realty Inc. (Japan)(Open in new window) 51.00 Investment management business
New Century Insurance Co., Ltd. (Bermuda, British overseas territory) 98.80 Insurance business
Port South Aircraft Leasing Co., Ltd. (Japan) 100.00 Aircraft leasing and finance
Red Diamond Capital Partners, LP (U.S.A.)(Open in new window) 100.00 Investment fund
Seto Futo Co., Ltd. (Japan)(Open in new window) 61.65 Dry bulk terminal business and warehousing business
TRM Aircraft Leasing Co., Ltd. (Japan) 100.00 Aircraft leasing and finance
Yebise Limited (Cayman Islands, British overseas territory) 100.00 Aircraft leasing and finance
Zonnet Aviation Financial Services Co., Ltd. (Japan) 100.00 Aircraft leasing and finance
<Equity-method affiliates>
Mitsubishi Auto Leasing Holdings Corporation (Japan)(Open in new window) 50.00 Auto leases, installment sales and other financial services through subsidiaries
Mitsubishi UFJ Lease & Finance Company Ltd. (Japan)(Open in new window) 20.00 Leasing, installment sales, other financing
Mitsubishi Ore Transport Co., Ltd. (Japan)(Open in new window) 40.28 Operation and chartering of bulkers for coking coal, iron ore, automobiles and other products

Energy Business Group

COMPANY NAME VOTING RIGHTS (%) MAIN BUSINESS
<Subsidiaries>
Ajoco Exploration Co., Ltd. (Japan) 55.00 Development and production of oil in Angola
Ajoco'91 Exploration Co., Ltd. (Japan) 55.00 Development and production of oil in Angola
Angola Japan Oil Co., Ltd. (Japan) 51.00 Exploration, development and production of oil in Angola
Cordova Gas Resources Ltd. (Canada) 100.00 Development and production of shale gas in Canada
Diamond Gas Resources Pty. Ltd. (Australia) 100.00 Sales agent of JALP crude oil and condensate
Diamond Gas Sakhalin B.V. (The Netherlands) 100.00 Stockholding company for Sakhalin II project in Russia
Diamond Tanker Pte. Ltd. (Singapore) 100.00 Marine transportation, etc.
MC Energy, Inc. (Japan) 100.00 Marketing and sales of asphalt and petroleum products
MCX Exploration (USA) Ltd. (U.S.A.) 100.00 Exploration, development and production of oil and natural gas
Mitsubishi Shoji Sekiyu Co., Ltd. (Japan) 100.00 Marketing and sales of petroleum products
MPDC Gabon Co., Ltd. (Japan) 100.00 Exploration, development and production of oil in Gabon
Onahama Petroleum Co., Ltd. (Japan)(Open in new window) 80.00 Oil import, storage and sales as well as land and facility leasing
Pacific Orchid Shipping S.A. (Panama) 100.00 Ownership of tankers for transporting crude and heavy oil
Petro-Diamond Inc. (U.S.A.)(Open in new window) 100.00 Marketing and sales of petroleum products
Petro-Diamond Singapore (Pte) Ltd (Singapore) 100.00 Marketing and sales of petroleum products
<Equity-method affiliates>
Astomos Energy Corporation (Japan)(Open in new window) 49.00 Import, trading, domestic distribution and sales of LPG
Brunei LNG Sendirian Berhad (Brunei) 25.00 Manufacturing and sales of LNG
Brunei Shell Tankers Sendirian Berhad (Brunei) 25.00 Ownership of LNG tankers
Encore Energy Pte. Ltd. (Singapore) 39.40 Stockholding company for P.T. Medco Energi Internasional (Indonesia)
Energi Mega Pratama Inc. (Indonesia) 25.00 Exploration, development, and production of oil and natural gas in Indonesia
Japan Australia LNG (MIMI) Pty. Ltd. (Australia) 50.00 Development and sales of resources (LNG, LPG, condensate and crude oil)

Metals Group

COMPANY NAME VOTING RIGHTS (%) MAIN BUSINESS
<Subsidiaries>
Hernic Ferrochrome (Pty) Ltd. (Republic of South Africa) 50.98 Mining of chrome ore, production and sales of ferrochrome
JECO Corporation (Japan) 70.00 Investment company for Minera Escondida Ltda. copper mines in Chile
M.C. Inversiones Limitada (Chile) 100.00 Investment company for Chilean iron ore mines
MC Copper Holdings B.V. (The Netherlands) 100.00 Investment company for Los Pelambres copper mine in Chile
MC Iron Ore Sales Inc. (U.S.A.) 100.00 Partner in partnership (IOC OS) selling Iron Ore Company of Canada iron ore
Metal One Corporation (Japan) 60.00 Steel products operations
Mitsubishi Development Pty Ltd (Australia) 100.00 Investment, production and sales of coals and other metals resources
Mitsubishi Corporation Unimetals Ltd. (Japan)(Open in new window) 100.00 Metal trading company
Ryowa Development Pty., Ltd. (Australia) 100.00 Investment company for BOYNE aluminum smelter and sales of aluminum
Ryowa Development II Pty., Ltd. (Australia) 100.00 Investment company for BOYNE aluminum smelter and sales of aluminum
Triland Metals Ltd. (U.K.) 100.00 Commodity broker on the London Metal Exchange (LME)
Triland USA Inc. (U.S.A.) 100.00 Commodity broker
<Equity-method affiliates>
Compania Minera del Pacifico S.A. (Chile) 25.00 Iron ore production and sales
Iron Ore Company of Canada (Canada)(Open in new window) 26.18 Iron ore production and sales
Mozal S.A.R.L. (Mozambique) 25.00 Production and sales of aluminum ingots
NIKKEI MC ALUMINIUM CO., LTD. (Japan)(Open in new window) 45.00 Manufacturing and sales of secondary aluminum alloy ingots
<Metal One Subsidiaries>
Isuzu Corporation (Japan)(Open in new window) 56.60 Steel processing and sales
Kyushu Steel Corporation (Japan) 55.00 Steel (building materials) manufacturing
Kyushu Steel Center Co., Ltd. (Japan)(Open in new window) 55.29 Steel (thick plates) processing
MC Metal Service Asia (Thailand) Co., Ltd. (Thailand) 100.00 Steel processing and sales
Metal One Holdings America, Inc. (U.S.A.) 80.00 Holding company of steel processing and sales business
Metal One SSS West Japan, Ltd. (Japan)(Open in new window) 100.00 Steel (building materials) processing and sales
Metal One Ryowa Corporation (Japan)(Open in new window) 100.00 Steel processing and sales
Metal One Specialty Steel Corporation (Japan)(Open in new window) 100.00 Special steel processing and sales
Metal One Stainless (Asia) Pte. Ltd. (Singapore) 91.70 Steel (stainless) processing and sales
Metal One Steel Service Corporation (Japan) 67.33 Steel processing and sales
Metal One Structural Steel & Resource Corporation (Japan)(Open in new window) 100.00 Steel (building materials) processing and sales
OTOFUJI Corporation (Japan) 100.00 Sales of steel pipes and accessories
Sus-Tech Corporation (Japan)(Open in new window) 64.48 Steel (stainless) processing and sales
Tamatsukuri Corporation (Japan)(Open in new window) 97.31 Steel (thick plates) processing and sales
<Metal One Equity-method affiliates>
Koho CD Bars Service Center Co., Ltd. (Japan) 33.33 Steel (cold finished steel bars, special steel, etc.) sales
M.O. TEC CORPORATION (Japan)(Open in new window) 41.49 Construction materials rentals and sales
Sanwa Tekko Co., Ltd. (Japan) 33.41 Steel processing and sales
Siam Hi-Tech Steel Center Co., Ltd. (Thailand) 50.00 Steel processing and sales

Machinery Group

COMPANY NAME VOTING RIGHTS (%) MAIN BUSINESS
<Subsidiaries>
Auto Technic (Thailand) Co., Ltd. (Thailand) 100.00 Automobile maintenance
Constructora Geotermoelectrica Del Pacifico, S.A. de C.V. (Mexico) 100.00 Construction and leasing of power plants
Diamond Camellia S.A. (Panama) 100.00 Ship owning and chartering
Diamond Power Corporation (Japan)(Open in new window) 100.00 Electricity retailing
Isuzu Operations (Thailand) Co., Ltd. (Thailand) 80.00 Distribution of automobiles
MAC Funding Corporation (U.S.A.) 100.00 Industrial machinery sales finance
MC Automobile (Europe) N.V. (The Netherlands) 100.00 Automobile-related business
MC Machinery Systems, Inc. (U.S.A.)(Open in new window) 100.00 Sales and service of machine tools and industrial machinery
Mitsubishi Corporation Power Systems, Inc. (Japan)(Open in new window) 100.00 Domestic & Import sales of power plant equipment & services
MCE Bank GmbH (Germany) 100.00 Automobile finance
Mitsubishi Corporation Machinery, Inc. (Japan)(Open in new window) 100.00 Export, import and domestic trading of machine parts
Mitsubishi Corporation Technos (Japan)(Open in new window) 100.00 Sales of machine tools and industrial machinery
Mitsubishi Motors Malaysia Sdn. Bhd. (Malaysia) 52.00 Distribution of automobiles
MMC Automoviles Espana S.A. (Spain) 75.00 Distribution of automobiles
MMC Car Poland Sp. z o.o. (Poland) 100.00 Distribution of automobiles
MSK FARM MACHINERY CORPORATION (Japan)(Open in new window) 100.00 Sales and service of agricultural machinery and facilities
Nikken Corporation (Japan)(Open in new window) 96.83 Rental and sales of construction machinery and other equipment
Norelec Del Norte, S.A. de C.V. (Mexico) 100.00 Construction and leasing of power plants
Orient Gas Transport Inc. (Liberia) 100.00 Ship finance
PT. Dipo Star Finance (Indonesia) 85.00 Automobile finance
Spitalgate Dealer Services Ltd. (U.K.) 100.00 Automobile finance
The Colt Car Company Ltd. (U.K.)(Open in new window) 100.00 Distribution of automobiles
Tri Petch Isuzu Leasing Co., Ltd. (Thailand) 93.50 Automobile finance
Tri Petch Isuzu Sales Co., Ltd. (Thailand) (Open in new window) 88.73 Distribution of automobiles
<Equity-method affiliates>
Chiyoda Corporation (Japan) 33.74 Plant engineering business
FF Sheffe B.V. (The Netherlands) 40.00 Automobile-related holding company
Isuzu Engine Manufacturing Co., (Thailand) Ltd. (Thailand) 15.00 Manufacturing of automotive engines
Isuzu Motors Co., (Thailand) Ltd. (Thailand) 27.50 Manufacturing of automobiles
Isuzu Philippines Corporation (Philippines) 35.00 Import, manufacture, and sales of automobiles
Mitsubishi Elevator Hong Kong Company Limited (Hong Kong) 25.00 Elevator import, sales, installation and maintenance
Mitsubishi Motor Sales (China) Co., Ltd. (China) 50.00 Distribution of automobiles
MMC Chile S.A. (Chile)(Open in new window) 40.00 Distribution of automobiles
Mitsubishi Motors de Portugal, S.A. (Portugal) 50.00 Distribution of automobiles
PT. Krama Yudha Tiga Berlian Motors (Indonesia)(Open in new window) 40.00 Distribution of automobiles
PT. Mitsubishi Krama Yudha Motors and Manufacturing (Indonesia) 32.28 Manufacturing and distribution of automobile engines and sheet metal parts
Vina Star Motors Corporation (Vietnam) 25.00 Automobile assembly and distribution

Chemicals Group

COMPANY NAME VOTING RIGHTS (%) MAIN BUSINESS
<Subsidiaries>
Chuo Kasei Co., Ltd. (Japan)(Open in new window) 100.00 Manufacturing and marketing of chemical products
KIBIKASEI CO., LTD. (Japan)(Open in new window) 100.00 Wholesale and trading of synthetic resin raw materials and products made from these materials as well as industrial chemicals
Kohjin Co., Ltd. (Japan)(Open in new window) 100.00 Manufacturing of plastic films, biochemicals and fine chemicals
MC Ferticom Co., Ltd. (Japan)(Open in new window) 72.83 Manufacturing and marketing of fertilizer
MC Life Science Ventures, Inc. (U.S.A.) 100.00 Corporate venture capital and business incubation
Mitsubishi Shoji Chemical Corp. (Japan)(Open in new window) 100.00 Marketing of solvents, coating resins, silicones, fumed silica
Mitsubishi Shoji Food Tech Co., Ltd. (Japan) 100.00 Manufacturing and marketing of functional food ingredients
Mitsubishi Shoji Plastics Corp. (Japan)(Open in new window) 100.00 Marketing of synthetic raw materials and plastics
<Equity-method affiliates>
Aromatics Malaysia Sdn. Bhd. (Malaysia) 30.00 Manufacturing and marketing of benzene and paraxylene
Exportadora de Sal, S.A. de C.V. (Mexico)(Open in new window) 49.00 Manufacturing of solar salt
Meiwa Corporation (Japan)(Open in new window) 33.05 Trading company
Metanol de Oriente, METOR, S.A. (Venezuela) 25.00 Manufacturing and marketing of methanol
Nippon Resibon Corporation (Japan)(Open in new window) 20.00 Grinding wheels, coated abrasive products, machinery and tools, materials and other businesses
PT. Kaltim Parna Industri (Indonesia) 50.00 Manufacturing of ammonia
SPDC Ltd. (Japan)(Open in new window) 30.39 Investment and petroleum and petrochemicals-related businesses

Living Essentials Group

COMPANY NAME VOTING RIGHTS (%) MAIN BUSINESS
<Subsidiaries>
AGREX, Inc. (U.S.A.)(Open in new window) 100.00 Storage and marketing of grain
Alpac Forest Products Inc. (Canada) 70.00 Manufacturing and sales of wood pulp
Alpac Pulp Sales Inc. (Canada) 100.00 Sales of wood pulp
California Oils Corporation (U.S.A.)(Open in new window) 100.00 Manufacturing and sales of processed vegetable oils and fats
Cape Flattery Silica Mines Pty., Ltd. (Australia)(Open in new window) 100.00 Mining and sales of silica sand
Dai-Nippon Meiji Sugar Co., Ltd. (Japan)(Open in new window) 100.00 Manufacturing and wholesale of sugar products
d-rights Inc. (Japan)(Open in new window) 100.00 Production of animation and other contents, sale of broadcasting rights and licensing business
Food Service Network Co., Ltd. (Japan)* 100.00 Food wholesaling business for convenience stores
Foodlink Corporation (Japan)(Open in new window) 99.39 Sales of meat and meat products
Green Houser Co., Ltd. (Japan)(Open in new window) 100.00 Sales of wood products, construction materials and housing equipment
Indiana Packers Corporation (U.S.A.)(Open in new window) 80.00 Processing and sales of pork
Kentucky Fried Chicken Japan Ltd. (Japan)(Open in new window) 65.81 Fast-food restaurant chain and home-delivery pizza stores
Life Gear Corporation (Japan)(Open in new window) 100.00 Sales and marketing of footwear
MC Healthcare, Inc. (Japan) 80.00 Back-office support for hospital management, sales of medical equipment and pharmaceuticals
MC Merchant Services Co., Ltd. (Japan)(Open in new window) 100.00 Credit card processing and payment services
Meidi-ya Corporation (Japan)* 80.00 Wholesale of food products
MITSUBISHI CORPORATION FASHION (Japan)(Open in new window) 100.00 Design, manufacturing and sales of apparel products
Mitsubishi Shoji Construction Materials Corporation (Japan)(Open in new window) 100.00 Marketing of construction materials and construction work
Mitsubishi Shoji Packaging Corporation (Japan)(Open in new window) 92.15 Sales and marketing of packaging materials, paper, paperboard and corrugated containerboard, as well as export of paper and paperboard
MRS Corporation (Japan) 100.00 Operation of ultra-low temperature transport vessels
Nihon Shokuhin Kako Co., Ltd. (Japan)(Open in new window) 59.77 Manufacturing of corn starch and related processed products
Nippon Care Supply Co., Ltd. (Japan)(Open in new window) 65.53 Rental and sales of nursing care equipment and items
Nitto Fuji Flour Milling Co., Ltd. (Japan)(Open in new window) 64.02 Flour miller
Nosan Corporation (Japan)(Open in new window) 100.00 Manufacturing and marketing of livestock feed
Princes Limited (U.K.)(Open in new window) 100.00 Manufacturing of food products and soft drinks
Riverina (Australia) Pty., Ltd. (Australia)(Open in new window) 100.00 Marketing of grains and manufacturing of animal feed and its marketing
RYOSHOKU LIMITED (Japan)* 51.17 Wholesale of food products
SAN-ESU INC. (Japan)* 91.93 Wholesale of confectionery
Sanyo Foods Co., Ltd. (Japan)(Open in new window) 100.00 Manufacturing and sales of food products
TH FOODS, Inc. (U.S.A.)(Open in new window) 53.16 Manufacturing of rice crackers
Toyo Reizo Co., Ltd. (Japan)(Open in new window) 81.83 Processing and sales of marine products
Tredia Fashion Co., Ltd. (Hong Kong)(Open in new window) 100.00 Sales and production control of apparel products
<Equity-method affiliates>
Coca-Cola Central Japan Co., Ltd. (Japan)(Open in new window) 23.25 Manufacturing and sales of soft drinks
create restaurants inc. (Japan)(Open in new window) 41.07 Operation of restaurants based on various concepts under different brands in Japan
Ensuiko Sugar Refining Co., Ltd. (Japan)(Open in new window) 31.26 Manufacturing and wholesale of sugar products
Hokkaido Sugar Co., Ltd. (Japan) 27.16 Manufacturing of beet sugar
Hokuetsu Kishu Paper, Co., Ltd. (Japan)(Open in new window) 24.72 Manufacturing, processing and sales of paper and pulp
Itoham Foods, Inc (Japan)(Open in new window) 20.43 Manufacturing and sales of meats and processed foods
Kadoya Sesame Mills, Inc. (Japan)(Open in new window) 27.40 Manufacturing and sales of sesame oil and sesame
Kirin MC Danone Waters Co., Ltd. (Japan) 24.00 Manufacturing, importing and sales of mineral water
LAWSON, INC. (Japan)(Open in new window) 32.44 Franchise chain of LAWSON convenience stores
Life Corporation (Japan)(Open in new window) 21.30 Supermarket chain stores
Maruichi Co., Ltd. (Japan)(Open in new window) 20.00 Wholesale of food products
Matsutani Chemical Industry Co., Ltd. (Japan)(Open in new window) 30.00 Processing of starch
MCC Development Corporation (U.S.A.) 30.00 Holding company of ready-mixed concrete companies
Mitsubishi Cement Corporation (U.S.A.) 28.71 Manufacturing and marketing of cement
ROKKO BUTTER CO., LTD. (Japan) 20.49 Manufacturing and sales of cheese products
T-Gaia Corporation (Japan)(Open in new window) 22.78 Handling of subscriber contracts for various communication services, sales of handsets and equipment
The Nisshin OilliO Group, Ltd. (Japan) 16.63 Oils and meal, healthy foods and fine chemicals businesses
TOYO TYRE & RUBBER AUSTRALIA LIMITED (Australia) 25.60 Importing and sales of tyres
YONEKYU CORPORATION (Japan)(Open in new window) 24.60 Sales of meats, manufacturing and sales of processed foods

*RYOSYOKU LIMITED, Meidi-ya Corporation, SAN-ESU INC., and Food Service Network Co., Ltd. were integrated and renamed Mitsubishi Shokuhin Co., Ltd. on July 1, 2011.

Corporate Staff Section

COMPANY NAME VOTING RIGHTS (%) MAIN BUSINESS
<Subsidiaries>
Business Trip International Inc. (Japan) 100.00 Travel agency
Human Link Corporation (Japan)(Open in new window) 100.00 Personnel operation outsourcing services and consulting
MC Facilities Co., Ltd. (Japan)(Open in new window) 100.00 Office building management and operation services
MC Finance & Consulting Asia Pte. Ltd. (Singapore) 100.00 Treasury services
MC Silicon Valley, Inc. (U.S.A.) 100.00 Management of marketable securities
Mitsubishi Corporation Finance PLC (U.K.) 100.00 Treasury services
Mitsubishi Corporation Financial & Management Services (Japan) Ltd. (Japan)(Open in new window) 100.00 Accounting, financial and foreign exchange services, credit control and management consulting

Main Regional Subsidiaries

COMPANY NAME VOTING RIGHTS (%) MAIN BUSINESS
<Subsidiaries>
MC Europe Holdings N.V. (U.K.) 100.00 Holding company for European subsidiaries
MC International (Europe) (U.K.) 100.00 Trading
Mitsubishi Australia Ltd.(Open in new window) 100.00 Trading
Mitsubishi Corporation (Hong Kong) Ltd.(Open in new window) 100.00 Trading
Mitsubishi Corporation (Korea) Ltd.(Open in new window) 100.00 Trading
Mitsubishi Corporation (Shanghai) Ltd. 100.00 Trading
Mitsubishi International Corporation (U.S.A.)(Open in new window) 100.00 Trading
Mitsubishi International GmbH. (Germany)(Open in new window) 100.00 Trading
Mitsubishi Corporation Taiwan Ltd.(Open in new window) 100.00 Trading
Thai-MC Company Ltd.(Open in new window) 67.80 Trading

SPECIAL NAVIGATION