March 7, 2018
Mitsubishi Corporation Completes Sale of Interests in Warkworth Coal Mine in Australia
Mitsubishi Corporation (“MC”) announced on June 13, 2017 that it had reached an agreement for the sale of its 28.9% ownership interest in Warkworth Coal Mine (“WW”) in Australia held by wholly owned subsidiary Mitsubishi Development Pty Ltd to Yancoal Australia Limited (“Yancoal”). MC is hereby pleased to announce that the sale was successfully completed on March 7, 2018.
The profit from this sale is included in the full-year earnings forecast for the fiscal year ending March 31, 2018.
Based on its mid-term strategic plan, MC has been taking steps to improve its asset portfolio without increasing its overall investment balance, particularly as it relates to its resources business. In line with this strategy, MC will continue optimizing the asset portfolio.
1. About Mitsubishi Corporation
Head Office: 3-1, Marunouchi 2-Chome, Chiyoda-Ku, Tokyo 100-8086, Japan
Main Business: Mitsubishi Corporation is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation’s current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.
Representative: Takehiko Kakiuchi, President and CEO
2. About Yancoal Australia Limited
Head Office: Level 26, 363 George Street, Sydney, NSW 2000, Australia
Business: A major thermal coal producer in Australia.
Representative: Reinhold Schmidt, Chief Executive Officer
Inquiry RecipientMitsubishi Corporation
Telephone:+81-3-3210-3065 / Facsimile:+81-3-5252-7705