Mitsubishi Heavy Industries, Ltd. (MHI) published notice regarding conclusion of Absorption-type split agreements relating to transfer of ship construction and hull block manufacture businesses to two consolidated group companies by company split.
The intent to spin off MHI's ship construction business to a group company (MHI Ship & Ocean Engineering Co., Ltd.) was first announced on February 4 2015. MHI also planned to establish a company dedicated to the manufacture of hull blocks, with plans calling for the creation of a wholly owned preparatory company to be followed by an absorption-type split.
MHI has decided to conclude an absorption-type split agreements as per the attached documents. Because the split corresponds to the transfer of business operations to a wholly owned group company, some disclosure items and details have been omitted.
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