Signing of Agreement to Transfer Shares of MUL and HCC to MC
|(3)Share To Be Transferred||
35,372,734 MUL Shares
3,507,379 HCC Shares
|(4)Expected Date of Transfer||March 25, 2021|
On September 24, 2020, MUL and HCC released a joint statement announcing their intentions to integrate operations through an absorption-type merger, which is set to go into effect on April 1, 2021. MUL and HCC will be the surviving and merged companies respectively, with the former renamed Mitsubishi HC Capital Inc.
MC, which following the merger will own approximately 18% of the new company, has plans to make it an equity-method affiliate once its integration is completed. As one of its main shareholders, MC will continue to collaborate on its future growth and development.
The impact of this share transfer on MC’s financial results for the current fiscal year is expected to be minimal.
Inquiry RecipientMitsubishi Corporation
Telephone:+81-3-3210-2171 / Facsimile:+81-3-5252-7705