Mitsubishi Corporation

Press Room

November 28, 2012
Yamanishi Co., Ltd.
The Mitsubishi Corporation Disaster Relief Foundation

Mitsubishi Corporation Relief Foundation Provides Funds for Yamanishi Recovery

The Mitsubishi Corporation Disaster Relief Foundation (The Foundation) is pleased to announce its decision to provide financial support to Yamanishi Co., Ltd. (Yamanishi) in the sum of 100 million yen.
 
Yamanishi, Tohoku’s largest shipbuilder, suffered great damage from the earthquake and tsunami last year, and while the company has been able to restart its shipbuilding activities after receiving support from government and financial institutions, it is yet to see the prospects for re-engagement in its other core business area, namely, ship repairs, due to a lack of relevant financing.   
 
In recognition of this, The Corporation for Revitalizing Earthquake Affected Business has agreed to make a financial contribution of 4 billion yen in support of Yamanishi’s efforts to fix its ship repair dock and bring its ship repair business back on stream. The Foundation will pitch in with a contribution of 100 million yen towards those efforts, while additional financial backing will be provided by The 77 Bank Ltd and The Japan Finance Corporation.
 
Yamanishi is working vigorously to restore its business, but providing this support is not limited exclusively to business rehabilitation and employment security at Yamanishi itself. Since recovery at Yamanishi will mean a resumption of business activities with local ship repair related companies, this contribution is further expected to have a positive impact on the revitalization of Ishinomaki’s ship repair industry in general and to contribute to the overall recovery of economic activity and employment generation in the area.
 
The Foundation is committed to continue providing support for the recovery of industry and employment generation in those areas affected by last year’s disasters.
 
 
 
Details About the Organizations
 
Yamanishi Co., Ltd.
 
① Location: 1-2 Nishihama-cho, Ishinomaki, Miyagi
② Founded: March 1920
③ Capital: 100 million yen
④ Business Activities: Shipbuilding, ship repairs, manufacturing of steel structures
⑤ Representative: President and CEO, Hidehiko Maeda
 
The Mitsubishi Corporation Disaster Relief Foundation
 
① Location: 2-3-1 Marunouchi, Chiyoda-ku, Tokyo
② Date Established: March, 2003
③ Endowment: 6 billion yen
④ Purpose: To contribute to the recovery of regions affected by the Great East Japan Earthquake through the provision of scholarships, grants for NPOs and social welfare corporations, as well as for recovery of industry and job creation.
⑤ Representatives:
-       Chairman, Ken Kobayashi (President and CEO, Mitsubishi Corporation)
-       Deputy Chairman, Hideyuki Nabeshima (Senior Executive Vice President, Mitsubishi Corporation)
-       Executive Director, Yasuhiro Hirota (Senior Vice President; General Manager, CSR and Environmental Affairs Department, Mitsubishi Corporation)
 

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