Mitsubishi Corporation

Press Room

April 12, 2011

Establishment of the East Japan Earthquake Recovery Fund

Mitsubishi Corporation (MC) wishes to express its profound condolences to all the victims of the East Japan Earthquake, and to all those who have suffered from the impact of this disaster.
 
In the days following the earthquake, MC donated 400 million yen, 30 of Mitsubishi Motors Corporation’s electric vehicles (i-MiEV), and other emergency supplies to help with the recovery. However, with the full extent of the disaster becoming clearer, and the knowledge that this recovery will be a long-term endeavor, MC has decided to establish a special fund to cover companywide assistance over the next four years. Ten billion JPY will be allocated to the “Mitsubishi Corporation East Japan Earthquake Recovery Fund” which will remain in effect until March, 2015.
 
The main areas covered by this fund are as follows (all amounts are four-year totals).
 
(1)     Monetary Donations: 2.5 billion JPY
Donations and humanitarian aid (for orphans, the elderly, etc.)
 
(2)     Emergency Scholarship: 2.5 billion JPY
For undergraduate or graduate students who are otherwise incapable of continuing their studies due to the disaster (to be awarded to 500 students each year for four years).
 
(3)     Housing for Evacuees: 1 billion JPY
MC single-employee dormitories, company training facilities and other, leased facilities will be made available to evacuees.
 
(4)     Other: 4 billion JPY
Donations of supplies; provision of heavy machinery and other services; other support in the afflicted regions.
 
In addition to the above, MC will be dispatching teams of employee volunteers to the Tohoku region to assist with the relief efforts. Each team will consist of ten employees who will work alongside the local volunteers. The teams will rotate every few days over the course of one year. Some 1,200 MC volunteers are expected to take part. Other employees will be given the chance to attend camps and other events with children affected by the disaster.
 
In accordance with recovery fund’s establishment, all MC officers will be contributing between 10% and 30% of their bonuses.
 
MC offers its sincere prayers for a swift recovery in the Tohoku Region and will continue doing all it can to help.

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Mitsubishi Corporation
Telephone:+81-3-3210-2171 / Facsimile:+81-3-5252-7705
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