Mitsubishi Corporation

Press Room

September 11, 2019
Mitsubishi Corporation

Announcement Concerning MC’s Involvement in Chiyoda Corporation’s Financial Reinforcement Plan (Conversion into Subsidiary)

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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