As announced on May 9, 2019, the resolution on the financial reinforcement plan for Chiyoda Corporation (Chiyoda) and the capital increase through third-party allotment was passed at the same day’s Board of Directors Meeting for Mitsubishi Corporation (MC). Subsequently, MC made payment on July 1, 2019 and subscribed 175,000,000 of Chiyoda’s A-class preferred shares convertible into common stock.

 

MC hereby announces that the necessary approvals for exercising the conversion right were obtained on September 10, 2019, making Chiyoda a consolidated subsidiary of MC as of that day in accordance with International Financial Reporting Standards (IFRS).

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