Notification of Capital Reduction and Change in Status of MC Subsidiary (Exclusion of Specified Subsidiary)
Mitsubishi Corporation (MC) hereby announces the following change regarding its subsidiary.
１． Reason for Change
Diamond Transmission Corporation Limited (“DTC”), a consolidated subsidiary of MC in the United Kingdom, has decided to make a capital reduction on December 5, 2024 (UK time). As a result, DTC’s capital will be less than 10% of MC’s, and DTC will be excluded from a “specified subsidiary” of MC.
２． Overview of the Specified Subsidiary (DTC)
| （１）Company Name | Diamond Transmission Corporation Limited | |||
| （２）Address | Mid City Place, 71 High Holborn, London, United Kingdom, WC1V 6BA | |||
| （３）Representative | Shigeru Inano, CEO & Managing Director | |||
| （４）Summary of Business | European Transmission Business Management Company | |||
| （５）Capital | Before Reduction: 118 million GBP (22.6 billion yen)* After Reduction: 1 GBP (191 yen)* | |||
| （６）Date of Establishment | April 11, 2013 | |||
| （７）Major Shareholders and Shareholding Ratio | MC: 100.00% | |||
| （８）Relationship with the Listed Company | Capital | 100.00% owned by MC | ||
| Personnel | Personnel dispatched from MC | |||
| Business | MC currently has no business relationship with DTC | |||
| （９）Recent Performance | ||||
| | from April 2021 to March 2022 | from April 2022 to March 2023 | from April 2023 to March 2024 | |
| Net assets | 105,879 thousand GBP | 170,982 thousand GBP | 189,648 thousand GBP | |
| Total assets | 125,126 thousand GBP | 176,070 thousand GBP | 205,466 thousand GBP | |
| Net assets per share | 0.8 GBP | 1.4 GBP | 1.5 GBP | |
| Revenue | 1,175 thousand GBP | 1,160 thousand GBP | 1,489 thousand GBP | |
| Net profit (loss) after tax | (9,300 thousand GBP) | 12,735 thousand GBP | 30,535 thousand GBP | |
| Net profit (loss) per share | (0.1 GBP) | 0.1 GBP | 0.2 GBP | |
*The applied foreign exchange rate is 1GBP=190.97JPY (TTM Rate as of December 5, 2024)
３． Date related to the Change
| （１）Date of Resolution for Capital Reduction | December 5, 2024 (UK time) |
| （２）Date of Capital Reduction Execution | Mid-December 2024 (planned) |
４． Outlook
MC is expecting little impact on its business performance due to this change.
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Inquiry Recipient
Mitsubishi CorporationTelephone:+81-3-3210-2171
