In July 2018, Mitsubishi Corporation (MC) celebrated the 50th anniversary of its activities in Russia, where it established its Moscow office in 1968.
During the 1980s, MC enjoyed huge trade turnovers with the USSR, including exports of competitive Japanese steel products and imports of Russian raw materials to a steadily growing Japanese market. Our major clients at the time were foreign trade organizations operating under the government.
In the 1990s, MC shifted the focus away from pure trade to investment activities in line with the changing economic and business environment both in Japan and Russia.
After Russia opened its markets, Japanese imports faced strong competition with goods and services from other suppliers. Our traditional clients - state foreign trade organizations - ceased to exist, and private businesses came onto the scene. The Russian economy started its outstanding growth, and MC responded to the challenges posed by this new environment by amending its business model in order to maintain and expand its presence in this promising market.
In the 1990s, MC extended its network in the CIS by establishing offices in Yuzhno-Sakhalinsk, Kiev, Almaty, Astana and Tashkent, Baku and Tbilisi. Mitsubishi Corporation has been an investor in the Sakhalin II Project since 1992 (MC's current participation in Sakhalin II is 10%).
Since 2006, with 100% investment from Mitsubishi Corporation Group companies, MC Logistics CIS LLC has been developing its logistics operations in Russia.
In 2008, TOYO TIRE RUS LLC, a 100% Japanese-owned joint venture between Mitsubishi Corporation and TOYO TIRE & RUBBER CO., LTD. was established for the distribution of automobile tires in Russia.
In 2009, Mitsubishi Corporation acquired a 40% stake in MC's long-term partner and an exclusive Mitsubishi vehicles distributor Rolf Group (in 2012 it increased its stake to 49%). In addition, Mitsubishi Corporation has joined forces with Rolf Group to set up a captive auto finance company.
In 2009 Mitsubishi Corporation began corporate philanthropy activities in Russia in different fields, and is now actively engaged in a number of social contribution projects. Among the main projects are those which provide support for seriously ill children via a renowned Russian charitable foundation, while several other projects focus on education, voluntary activity and the development of fine arts.
The first Mitsubishi Motors assembling project in Russia has been in operation in Kaluga since 2010.
In 2011, Mitsubishi Corporation, jointly with Mitsubishi Motors and the Russian company Rolf Import, introduced the iMiev electric vehicle to the Russian market.
In order to further support its operations in Russia, Mitsubishi Corporation established its office in the Russian Far Eastern city of Vladivostok in 2011.
In 2012, LLC Metal One RUS, wholly owned by MC Group company Metal One, was established for tubular and flat steel product sales and import-export operations.
In 2013, Mitsubishi Corporation established a wholly owned subsidiary, Mitsubishi Corporation (Russia) LLC, having proved its commitment to the Russian market.
In 2016, Mitsubishi Corporation (Russia) LLC has established a Vladivostok Branch.
In 2016, Mitsubishi Corporation signed a Memorandum of cooperation with PJSC Gazprom. A Joint Coordination Committee (JCC) was established under the Memorandum. In 2016, Mitsubishi Corporation signed a Memorandum of cooperation with PJSC "NOVATEK".
In 2017, the Company acquired a 25% stake in UNIQLO Rus.
In 2018, Mitsubishi Corporation has invested in the Russian online service for the sale of cars - Autospot.
Total investments in Russian, including investments in production (for the whole period of activity), amount to $1.17 bill. (as of March 2015).
Mitsubishi Corporation plans to develop its existing projects in the Russian Federation and to continue pursuing investment activities in accordance with approved business plans.