Midterm Corporate Strategy 2018 Management Approach … · Midterm Corporate Strategy 2018 ......
Transcript of Midterm Corporate Strategy 2018 Management Approach … · Midterm Corporate Strategy 2018 ......
• High-value EarningsBuild on our unique strengths and show initiative in the pursuit of high-value earnings
• Efficiency / Financial DisciplineIn allocating management resources, prioritize efficiency ahead of scaleTarget solid A Rating
•Focus on dividend as basic approach to returning value to shareholders
• Increase dividend flexibly in line with sustainable earnings growth based on a progressive dividend scheme
•Flexibly buy back our stock, only when necessary
Corporate Vision
Management Approach Over Next Three Years
Shareholder Return
In May 2016, Mitsubishi Corporation (MC) released a new management strategy for the three-year period beginning with fiscal year 2016. Entitled “Midterm Corporate Strategy 2018 - Evolving Our Business Model from Investing to Managing,” the corporate vision adopted in the new strategy sets out to “leverage our ingenuity to create new business models and generate value for societies, thereby developing the highest level of management expertise.” As its management approach over the three-year period, MC’s aim is to achieve double-digit return on equity (ROE) based on high-value earnings as well as efficiency and financial soundness by simultaneously executing two priorities: reforming its management platform and realizing its growth initiatives.
Financial TargetsAim for double-digit ROE by around 2020
Basic Approach / Objective
Increase dividend flexibly in line with sustainable earnings growth based on a progressive dividend scheme
Midterm Corporate Strategy 2018Evolving Our Business Model from Investing to Managing
Leverage our ingenuity to create new business models and generate value for societies, thereby developing the highest level of management expertise
Ingenuity Proactively innovate businesses, leveraging
our strengths and functions
Management Expertise Capably develop professionals with a strong sense of ethics, foresight and execution skills
Value Sustainably generate added value that meets
stakeholder expectations
Economic Value
Simultaneously Generating Three
Kinds of Value
Societal Value
Environmental Value
Reforming Management Platform
Rebalancing of “Resources” and“Non-resources” Cash-flow-focused Management
Growth Initiatives
Further Evolution from“Investing” to “Managing”
Accelerated “Lifecycle-based” Portfolio Re-profiling
Midterm Plan Period
FY2015
¥50
FY2016 FY2017(Forecast)
FY2018(Forecast)
¥80 ¥80 ¥80
+α
Framework Introduced by Midterm Corporate Strategy 2018
Achievement of an optimal portfolio balanceand visualization of the shift toward “managing” businesses
Companywide capital allocation toward growth
Revise business categorization to “market-related sector” and “business-related sector,” based on market risk sensitivity. Assume an optimal balance by the end of fiscal year 2018 by keeping the “market-related” portfolio size unchanged.
Introduce a framework to make the shift toward “managing” businesses visible by dividing the “business-related” sector into three sub-categories. Clarify the direction toward growth: value creation leveraging management capabilities.
While further advancing the shift to “managing businesses” as outlined under the new framework, MC’s goal is to create multiple core businesses based on companywide support for potential growth areas.
In addition to current core businesses, a large number of potential core businesses already exist within the company’s overall business portfolio. MC’s commitment, therefore, is to ensure that the requisite management resources are dynamically allocated in order to facilitate the development of those potential core businesses.
Increase the number of options in capital allocation policy and drive companywide growth beyond the business segment boundaries by retaining a fixed percentage of business segments profits on the corporate level.
Steadily promote autonomous management of the business segments by continuing cash-flow-focused management at the business segment level.
Future of the MC Group
Stage 1
Trading
Stage 2
Investing
Stage 3
Managing
Trading
Aim for an optimal balance of business-related and market-related sectors
Business-related sector Market-related sector
Business format transition
Value creation by deeper involvement in management
Investing/financing Commodity
Managing
⃝Power generation⃝LNG, etc.
⃝Retail ⃝Real estate⃝Motor vehicles ⃝Life science, etc.
Reduce market risk by building value chains and optimizing sales/purchase agreements
Enhance assets and businesses through cost reduction, efficiency increase etc. by deeper involvement in commodity businesses management
⃝Mineral resources (coking coal, copper, etc.)
⃝North American shale gas⃝Ships
(commercial vessels)etc.
Enhance quality through portfolio
re-profiling
Corporate level
Business segment Business segment
Capital allocation⃝Investment into growth
⃝Shareholder returns
⃝Reduction of interest-bearing liabilitiesCash
generation
Cash generation
Investing cash inflow
(proceeds from asset sales)
Operating cash flow (excluding
working capital)
Investing cash outflow
Retain Retain
Retained by Corporate level
Food raw materials
Fresh foods Logistics Distributed power supply
Transportation infrastructure
Consumer goods manufacturing
Lease businessIndustrial machinery PetrochemicalsUrban development Life-science
Plant engineering
Motor vehicles LNG Retail Mineral resourcesGas and powerCore businessesPotential core businesses
Further strengthening of core businesses
●❷Leading industry restructuring, transforming business structure
●❶Creating new cores by combination of businesses across industries/sectors
●❸Enhance quality through management efforts for cost reductions etc.
●❹
Members of the Board
Audit & Supervisory Board Members
* Indicates Representative Director.** Indicates Outside Director as provided
for in Article 2-15 of the Companies Act.
* Indicates Outside Audit & Supervisory Board Member as provided for in Article 2-16 of the Companies Act.
(As of July 1, 2017)Management
Eiichi Tanabe*
Hideaki Omiya**Chairman of the Board, Mitsubishi Heavy Industries, Ltd.
Tadashi Kunihiro*Attorney at T. Kunihiro & Co., Attorney-at-Law
Akihiko Nishiyama**Adjunct Professor, Hitotsubashi University
Ken KobayashiChairman of the Board
Hidehiro Konno**
Hideyuki NabeshimaSenior Audit & Supervisory Board Member
Hiroshi Kizaki
Takehiko Kakiuchi*
Akitaka Saiki**
Yasuko Takayama*
Kazuyuki Masu* Iwao Toide Akira Murakoshi Masakazu Sakakida*
Toshiko Oka**CEO, Oka & Company Ltd.
Ikuo Nishikawa*
Yasuhito Hirota*
President and Chief Executive Officer
Takehiko Kakiuchi *
Mitsuyuki TakadaGeneral Manager, Global Strategy & Coordination Dept.
Keisuke HoshinoPresident and CEO, Mitsubishi Corporation RtM Japan Ltd.
Koichi WadaGeneral Manager, Nagoya Branch
Tsutomu TakanoseDeputy General Manager, Kansai Branch
Katsuhiro ItoPresident, Mitsubishi Corporation (Hong Kong) Ltd.
Mitsumasa IchoGeneral Manager, Business Investment Management Dept.
Fuminori HasegawaDivision COO, Energy Resources Div. A
Tetsuji NakagawaDivision COO, Infrastructure Business Div.
Hidenori TakaokaGeneral Manager, Energy Business Group CEO Office
Noriyuki TsubonumaManaging Director & CEO, Mitsubishi Australia Limited(Concurrently) Managing Director, Mitsubishi New Zealand Limited(Concurrently) Deputy Regional CEO, Asia & Oceania (Oceania)
Yasushi OkahisaGeneral Manager, Corporate Staff Section Management Dept.
Tsunehiko YanagiharaEVP, Mitsubishi Corporation (Americas) [Work location: Silicon Valley]
Masatsugu KurahashiChief Regional Officer, Indonesia(Concurrently) President, PT. Mitsubishi Corporation Indonesia(Concurrently) General Manager, Surabaya Branch, PT. Mitsubishi Corporation Indonesia
Nodoka YamasakiDivision COO, Living Essential Distribution Div.
Kotaro TsukamotoDivision COO, Steel Business Div.
Katsuya NakanishiRegional CEO, Middle East & Central Asia(Concurrently) General Manager, Business Division, Headquarters for the Middle East and Central Asia
Jun NishizawaDivision COO, Energy Resources Div. B
Tatsuo NakamuraGeneral Manager, Strategic Planning Office, Motor Vehicle Business Div.
Osamu TakeuchiDivision COO, Petrochemicals Div.
Kazunori NishioDivision COO, Retail Div.
Koji KishimotoDivision COO, Life Sciences Div.
Eisuke ShiozakiChairman & Managing Director, Mitsubishi Corporation India Private Ltd.(Concurrently) Deputy Regional CEO, Asia & Oceania (South Asia)
Yoshinori KatayamaDivision COO, New Energy & Power Generation Div.
Yoshifumi HachiyaGeneral Manager, Corporate Accounting Dept.
Hisashi IshimakiDivision COO, Ship & Aerospace Div.
Takuya KugaDivision COO, Real Estate Business Div.
Yasumasa KashiwagiDivision COO, Fresh Food Products Div.
Hiroki HabaMitsubishi Corporation (Americas), SVP, Energy Business Group
Norio SaigusaPresident, Mitsubishi Company (Thailand), Ltd.(Concurrently) President, Thai-MC Company, Limited(Concurrently) General Manager, Vientiane Liaison Office
Takajiro IshikawaAssistant to Group CEO, Industrial Finance, Logistics & Development Group
Yasuteru HiraiRegional CEO, East Asia(Concurrently)President, Mitsubishi Corporation China Co., Ltd.(Concurrently) General Manager, Beijing Branch
Noboru TsujiDivision COO, Motor Vehicle Business Div.
Norikazu TanakaDivision COO, Mineral Resources Investment Div.(Concurrently) General Manager, MDP Dept.
* Represents Members of the Board
Senior Vice Presidents
Executive Officers
Hidemoto MizuharaRegional CEO, North America (Concurrently)President, Mitsubishi Corporation (Americas)
Senior Executive Vice President
Eiichi Tanabe*Corporate Functional Officer, Global Strategy & Coordination, Global Research,International Economic Cooperation, Logistics Management(Concurrently) Regional CEO, Asia & Oceania
Executive Vice Presidents
Hajime HiranoGroup CEO, Energy Business Group
Yasuhito Hirota*Corporate Functional Officer, Regional Strategy for Japan(Concurrently)General Manager, Kansai Branch
Kazushi OkawaGroup CEO, Machinery Group
Haruki HayashiRegional CEO, Europe & Africa (Concurrently)Managing Director, Mitsubishi Corporation International (Europe) Plc.
Kanji NishiuraGroup CEO, Metals Group
Hiroshi SakumaGroup CEO, Global Environmental & Infrastructure Business Group
Shinya YoshidaGroup CEO, Industrial Finance, Logistics & Development Group
Takeshi HagiwaraGroup CEO, Chemicals Group
Kazuyuki Masu*Corporate Functional Officer, CFO, IT
Yutaka KyoyaGroup CEO, Living Essentials Group
Iwao Toide*Corporate Functional Officer, Business Investment Management, Corporate Sustainability
Akira Murakoshi*Corporate Functional Officer, Corporate Communications, Human Resources
Masakazu Sakakida*Corporate Functional Officer, Corporate Administration, Legal (Concurrently)Chief Compliance Officer
Revenues And Income [IFRS]
Revenues ¥7,669.5 ¥6,925.6 ¥6,425.8
Gross profit 1,209.9 1,098.9 1,328.6
Net income (Net loss) attributable to owners of the Parent 400.6 ▲ 149.4 440.3
Net income (Net loss) attributable to owners of the Parent per share (diluted) (yen) 245.83 ▲ 93.68 277.16
ROE (%) 7.5 ▲ 2.9 9.3
ROA (%) 2.5 ▲ 0.9 2.9
Financial Position [IFRS]
Total assets 16,774.4 14,916.3 15,753.6
Equity attributable to owners of the Parent 5,570.5 4,592.5 4,917.2
Equity per share attributable to owners of the Parent (yen) 3,437.75 2,898.23 3,101.43
Cash Flows
Operating cash flows 798.3 700.1 583.0
Investing cash flows ▲ 154.9 ▲ 503.9 ▲ 179.6
Free cash flows 643.4 196.2 403.4Dividends
Dividend per share (for the year, yen) 70 50 80
Payout ratio (%) 28 − 29
2017.3 2017.32016.3 2016.32015.3 2015.3
Summary Of Segment Information (Year Ended March 31, 2017) [IFRS]
*Income from equity method investment denotes Income from investments accounted for using the equity method.*Net income denotes net income attributable to owners of the Parent.
Global Environmental & Infrastructure Business Group
Industrial Finance, Logistics & Development Group Energy Business Group Metals Group Machinery Group Chemicals Group Living Essentials Group
Revenues 69.1 billion 132.8 billion 1,189.3 billion 936.6 billion 747.0 billion 1,134.1 billion 2,204.2 billion
Gross profit 38.0 billion 60.2 billion 37.7 billion 414.8 billion 182.1 billion 113.0 billion 473.2 billion
Income from equity method investment 23.2 billion 13.7 billion 25.3 billion 2.7 billion 5.3 billion 12.1 billion 34.9 billion
Net income 23.4 billion 35.5 billion 55.5 billion 147.9 billion 29.4 billion 26.7 billion 121.3 billion
Total assets 1,005.7 billion 841.6 billion 2,118.0 billion 3,704.2 billion 1,739.6 billion 943.9 billion 4,343.0 billion
No. of employees 1,680 1,478 1,809 11,867 9,815 7,169 39,633
Mitsubishi Corporation and Subsidiaries
Billions of YenFinancial Highlights
Revenues Gross Profit Net Income (Net loss) and ROE Net Income (Net loss) Per Share(Diluted)
Cash FlowsDividend Per Share and Payout RatioTotal Assets and Equity
20,000.0
16,000.0
12,000.0
8,000.0
4,000.0
0
(¥ billion)
500.0
400.0
300.0
200.0
100.0
0
-100.0
-200.0
15.0
12.0
9.0
6.0
3.0
0
−3.0
−6.0
(¥ billion)
8,000.0
6,000.0
4,000.0
2,000.0
0
(¥ billion)1,500.0
1,250.0
1,000.0
750.0
500.0
250.0
0
(¥ billion)300.00
250.00
200.00
150.00
100.00
50.00
0
-50.00
-100.00
(¥)
(¥ billion)(dividend, ¥) (%)
(%)
Dividend per share Payout ratio
70.00
28
50.00
80.00
29
Total assets Equity
15.3 16.3 17.3 15.3 16.3 17.3 15.3 16.3 17.3 15.3 16.3 17.3
15.3 16.3 17.3 15.3 16.3 17.3
400.6
▲149.4
7.5
▲2.9
440.3
9.3
Net Income (Net loss) ROE
798.3
643.4700.1
196.2
▲154.9
▲503.9
583.0
403.4
▲179.6
Operating cash flows Investing cash flows
15.3 16.3 17.3
Free cash flows
−600.0
−400.0
−200.0
0
200.0
400.0
600.0
800.0
7,669.5
6,925.66,425.8 1,209.9
1,098.9
1,328.6 245.83
▲93.68
277.16
5,570.5
16,774.4
14,916.3
4,592.5
15,753.6
4,917.2
80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
0
32
30
28
26
24
22
20
18
*Net income (Net loss) denotes net income (net loss) attributable to owners of the Parent.*Equity denotes equity attributable to owners of the Parent.
(As Of March 31, 2017)Principal Subsidiaries and Affiliates
<Subsidiaries>
Diamond Generating Corporation (U.S.A.) 100.00 Independent power producer
Diamond Transmission Corporation Limited (U.K.) 100.00 Power transmission business
Diamond Generating Europe Limited (U.K.) 100.00 Independent power producer
Diamond Generating Asia, Limited (Hong Kong) 100.00 Independent power producer
DGA Ho Ping B.V. (The Netherlands) 100.00 Independent power producer
DGA Ilijan B.V. (The Netherlands) 100.00 Independent power producer
Mitsubishi Corporation Power Ltd. (Japan) 100.00 Independent power producer
Mitsubishi Corporation Machinery, Inc. (Japan) 100.00 Export, import and domestic trading of plant equipment
Mitsubishi Corporation Power Systems, Inc. (Japan) 100.00 After-sales services for power plants in Japan
MC Retail Energy Co., Ltd. (Japan) 84.00 Electricity retailing
TRILITY GROUP PTY LTD (Australia) 60.00 Water business
MCKG Port Holding Corporation (Japan) 60.00 Management of investment in port business
<Equity-method affiliates>
Chiyoda Corporation (Japan) 33.73 Plant engineering business
Swing Corporation (Japan) 33.33 Water business
ELECTRICIDAD SOL DE TUXPAN, S. de R.L. de C.V. (Mexico) 50.00 Independent power producer
Lithium Energy Japan (Japan) 41.94 Manufacturing and sales of lithium-ion batteries
MC-Jalux Airport Services Co., Ltd. (Myanmar) 45.50 Airport operator
Company Name Voting Rights (%) Main Business
Global Environmental & Infrastructure Business Group
<Subsidiaries>
Alternative Investment Capital Ltd. (Japan) 51.00 Investment advisory and management business
MC Aviation Partners Inc. (Japan) 100.00 Aircraft leasing and management services business
Double Bridge Infrastructure Inc. (Japan) 100.00 Infrastructure fund management business
DBI Management Inc. (Japan) 100.00 Infrastructure fund management business
Diamond Realty Management Inc. (Japan) 100.00 Asset management business (Private real estate fund)
Mitsubishi Corp.-UBS Realty Inc. (Japan) 51.00 Asset management business (Real estate investment trust)
Mitsubishi Corporation Urban Development, Inc. (Japan) 100.00 Development & operation of commercial properties
Yokohama Red Brick Warehouse (Japan) 67.00 Operation of “Yokohama Red Brick Warehouse shopping mall and event space”
Diamond Realty Investments, Inc. (U.S.A.) 100.00 Real estate investment
Seto Futo Co., Ltd. (Japan) 64.30 Dry bulk terminal business, warehousing business
Mitsubishi Corporation LT, Inc. (Japan) 100.00 Total logistics business, international intermodal transport, warehousing business
Diamond Bulk Carriers Pte. Ltd. (Singapore) 100.00 Dry bulk carrier logistics
New Century Insurance Co., Ltd. (Bermuda, British Overseas Territory) 100.00 Insurance business
<Equity-method affiliates>
Marunouchi Capital Inc. (Japan) 85.10 Private equity investment management business(Investment management)
AIGF Advisors Pte. Ltd. (Singapore) 50.00 Private equity investment management business(Investment management)
One Rock Capital Partners, LLC. (U.S.A.) 40.00 Private equity investment management business(Investment management)
Mitsubishi UFJ Lease & Finance Company Ltd. (Japan) 20.00 Leasing, installment sales and other financing
Mitsubishi Auto Leasing Holdings Corporation (Japan) 50.00 Leasing and installment sales of both passenger and
commercial vehicles
AJIL Financial Services Company (Saudi Arabia) 20.00 General leasing business
Ekim Turizm Ticaret Ve Sanayi A.S. (Intercity) (Turkey) 35.80 Automobile leasing business
AGP Corporation (Japan) 26.81 Supply of airport ground power, maintenance of airport facilities, manufacture and sale of food carts
Mitsubishi Ore Transport Co., Ltd. (Japan) 40.28 Owner and operator of dry bulk carriers and pure car carriers
Company Name Voting Rights (%) Main Business
Industrial Finance, Logistics & Development Group
<Subsidiaries>
Angola Japan Oil Co., Ltd. (Japan) 65.70 Exploration, development and production of oil in Angola
Cutbank Dawson Gas Resources Ltd. (Canada) 100.00 Investment company for shale gas business in Canada
Diamond Gas Holdings Sdn. Bhd. (Malaysia) 100.00 Investing company for upstream development, midstream (Malaysia Ⅱ project) and GTL (Gas to liquid) project in Malaysia
Company Name Voting Rights (%) Main Business
Energy Business Group
Diamond Gas Netherlands B.V. (The Netherlands) 80.00 Stockholding company for Malaysia Ⅲ project
Diamond Gas Operation Co., Ltd. (Japan) 100.00 LNG business agent and provider of information on natural gas and other relevant industry data
Diamond Gas Sakhalin B.V. (The Netherlands) 100.00 Stockholding company for Sakhalin Ⅱ project in Russia
Diamond LNG Canada Ltd. (Canada) 100.00 Development of LNG Project in Western Canada
Diamond Resources (Canning) PT (Australia) 100.00 Exploration and development of oil and natural gas in Australia
Diamond Resources (Fitzroy) PT (Australia) 100.00 Exploration and development of oil and natural gas in Australia
MCX Exploration (USA) LLC (U.S.A.) 100.00 Exploration, development and production of oil and natural gas
Mitsubishi Corporation Energy Co., Ltd. (Japan) 100.00 Marketing and sales of petroleum products
Mitsubishi Corporation Exploration Co., Ltd. (Japan) 100.00 Oil and gas exploration and development company
Petro-Diamond Singapore (Singapore) 100.00 Marketing and sales of petroleum products
<Equity-method affiliates>
Astomos Energy Corporation (Japan) 49.00 Import, trading, domestic distribution and sales of LPG
Brunei LNG Sendirian Berhad (Brunei) 25.00 Manufacturing and sales of LNG in Brunei
Japan Australia LNG (MIMI) Pty. Ltd. (Australia) 50.00 Development and sales of resources (LNG, LPG, condensate and crude oil) in Australia
MI Berau B.V. (The Netherlands) 56.00 Stockholding company for Tangguh project in Indonesia
<Subsidiaries>
Mitsubishi Corporation Technos (Japan) 100.00 Sales of machine tools and industrial machinery
MSK Farm Machinery Corporation (Japan) 100.00 Sales and service of agricultural machinery and facilities
Nikken Corporation (Japan) 100.00 Rental and sales of construction machinery and other equipment
MC Machinery Systems, Inc. (U.S.A.) 100.00 Sales and service of machine tools and industrial machinery
MC Lift & Solutions Co., Ltd. (Thailand) 100.00 Export sales of elevator
Diamond Star Shipping Pte. Ltd. (Singapore) 100.00 Ship owning and chartering
SkymatiX (Japan) 66.00 Sales of comprehensive remote sensing services
P.T. Dipo Star Finance (Indonesia) 95.00 Automobile finance
P.T. Berlian Sistem Informasi (Indonesia) 90.00 IT services
Mitsubishi Motors Malaysia Sdn. Bhd. (Malaysia) 52.00 Distribution of automobiles
The Colt Car Company Ltd. (U.K.) 100.00 Distribution of automobiles
Spitalgate Dealer Services Ltd. (U.K.) 100.00 Automobile finance
MMC Car Poland Sp. z o.o. (Poland) 100.00 Distribution of automobiles
MCE Bank GmbH (Germany) 100.00 Automobile finance
MC Automobile (Europe) N.V. (The Netherlands) 100.00 Automobile-related business
Zao MC Bank Rus (Russia) 100.00 Automobile finance
Tri Petch Isuzu Sales Co., Ltd. (Thailand) 88.73 Distribution of automobiles
Tri Petch Isuzu Leasing Co., Ltd. (Thailand) 93.50 Automobile finance
Isuzu UTE Australia Pty Ltd (Australia) 100.00 Distribution of automobiles
Iseki Sales (Thailand) Co., Ltd. (Thailand) 80.00 Sales & service of agricultural machinery
<Equity-method affiliates>
Japan Space Imaging Corporation (Japan) 43.88 Sales of satellite imagery data & services
P.T. Krama Yudha Tiga Berlian Motors (Indonesia) 40.00 Distribution of automobiles
P.T. Mitsubishi Motors Krama Yudha Indonesia (Indonesia) 40.00 Manufacturing of automobiles
P.T. Mitsubishi Krama Yudha Motors and Manufacturing (Indonesia) 32.28 Manufacturing and distribution of automobile engines and
sheet metal parts
P.T. Krama Yudha Ratu Motor (Indonesia) 31.00 Automobile assembly
Mitsubishi Motors Vietnam Co., Ltd. (Vietnam) 41.20 Automobile assembly and distribution
MMC Ukraine LLC. (Ukraine) 60.00 Distribution of automobiles
MMC Rus LLC. (Russia) 49.00 Distribution of automobiles
Company Name Voting Rights (%) Main Business
Machinery Group
<Subsidiaries>
Metal One Corporation (Japan) 60.00 Steel products distribution /operations
Mitsubishi Corporation RtM International Pte. Ltd. (Singapore) 100.00 Integrated subsidiary in mineral resources trading
Mitsubishi Corporation RtM Japan Ltd. (Japan) 100.00 Trading company for mineral resources bound for Japan
Triland Metals Ltd. (U.K.) 100.00 Commodity broker on the London Metal Exchange (LME)
Mitsubishi Development Pty Ltd (Australia) 100.00 Investment, production and sales of coals and other mineral resources
M.C. Inversiones Limitada (Chile) 100.00 Mineral resources operating company in Latin America
MC Resource Development Ltd. (U.K.) 100.00 Investment in Anglo American Sur, S.A. (Chile)
JECO Corporation (Japan) 70.00 Investment company for Escondida copper mine in Chile
MC Copper Holdings B.V. (The Netherlands) 100.00 Investment company for Los Pelambres copper mine in Chile
<Equity-method affiliates>
Iron Ore Company of Canada (Canada) 26.18 Iron ore mining, processing and sales
JECO 2 Ltd. (U.K.) 50.00 Investment company for Escondida copper mine in Chile
Company Name Voting Rights (%) Main Business
Metals Group
UBE-MC Hydrogen peroxide Ltd. (Japan) 49.00 Manufacturing of hydrogen peroxide
TOSOH-HELLAS AI.C. (Greece) 35.00 Manufacturing of battery raw materials
DM Color Mexicana S.A. de C.V. (Mexico) 35.00 Manufacturing of plastic compound and coloring agent
Rimtec Corporation (U.S.A.) 49.00 Manufacturing of PVC compounds
Amfine Chemical Corporation (U.S.A.) 40.00 Manufacturing of stabilizers and additives for plastics
Liling Fine Chemicals Co., Ltd. (China) 29.78 Contracted manufacturing of agrochemical intermediates and active ingredients
Deccan Fine Chemicals (India) Ltd. (India) 20.00 Contracted manufacturing of agrochemical intermediates and active ingredients
IFFCO-MC CROP SCIENCE PRIVATE (India) 49.00 Marketing of agrochemical
FUJIFILM Diosynth Biotechnologies UK Limited (U.K.) 20.00 Contracted manufacturing of biopharmaceuticals
FUJIFILM Diosynth Biotechnologies U.S.A., Inc. (U.S.A.) 20.00 Contracted manufacturing of biopharmaceuticals
Tartaros Gonzalo Castello, S.L (Spain) 30.00 Production of tartrates
SPDC Ltd. (Japan) 33.34 Investment and petroleum and petrochemicals-related businesses
Meiwa Corporation (Japan) 33.05 Trading company
MMC Chile S.A. (Chile) 40.00 Distribution of automobiles
MC Autos del Peru S.A. (Peru) 41.00 Distribution of automobiles
Isuzu Motors Co., (Thailand) Ltd. (Thailand) 27.50 Manufacturing of automobiles
Isuzu Motors International Operations (Thailand) Co., Ltd. (Thailand) 30.00 Automobile exports & sales
Isuzu Motors India Pvt Ltd (India) 38.00 Manufacturing and distribution of automobiles
Mitsubishi Elevator India Pvt. Ltd (India) 45.00 Elevator manufacturing, sales, installation & service
GAC Mitsubishi Motors Co., Ltd. (China) 20.00 Automobile assembly & distribution
P.T. Mitsubishi Motors Krama Yudha Sales Indonesia (Indonesia) 40.00 Distribution of automobiles
MM Cars Myanmar Limited (Myanmar) 50.00 Distribution of automobiles
<Subsidiaries>
Mitsubishi Shoji Agri-Service Corporation (Japan) 100.00 Marketing of fertilizer
MC Ferticom Co., Ltd. (Japan) 72.83 Manufacturing of fertilizers
Mitsubishi Corporation Plastics Ltd. (Japan) 100.00 Marketing of synthetic raw materials and plastics
KIBIKASEI Co., Ltd. (Japan) 100.00 Marketing of synthetic raw materials and plastics
Chuo Kagaku Co., Ltd. (Japan) 60.59 Manufacturing of plastic food containers
KOHJIN Film & Chemicals Co., Ltd. (Japan) 100.00 Manufacturing of films and chemicals
Mitsubishi Shoji Chemical Corp. (Japan) 100.00 Marketing of solvents, paints, coating resins, silicones
Mitsubishi International PolymerTrade Corporation (U.S.A.) 100.00 Sales of specialty chemicals and commodity resins
Mitsubishi Corporation Life Sciences Limited. (Japan) 100.00 Holding company with assets in the food chemicals industry
Mitsubishi Shoji Foodtech Co., Ltd. (Japan) 100.00 Production of sweeteners, medical foods, seasonings, and functional ingredients
KOHJIN Life Sciences Co., Ltd. (Japan) 100.00 Production of yeast extract and functional ingredients
MC Food Specialties Inc. (Japan) 100.00 Production of seasonings, food chemicals, etc.
Mitsubishi International Food Ingredients, Inc. (U.S.A.) 100.00 Sales of food chemicals (sweeteners, functional ingredients, etc.)
Chuo Kasei Co., Ltd. (Japan) 100.00 Marketing of chemical products
<Equity-method affiliates>
Exportadora de Sal, S.A de C.V. (Mexico) 49.00 Salt production
Metanol de Oriente, METOR, S.A. (Venezuela) 25.00 Manufacturing of methanol
NIHON TRINIDAD METHANOL (Japan) 50.00 Investment and methanol-related businesses
Company Name Voting Rights (%) Main Business
Chemicals Group
<Subsidiaries>
Agrex do Brasil S.A. (Brazil) 81.54 Grains and oilseeds procurement and distribution
Agrex, Inc. (U.S.A.) 100.00 Grains and oilseeds procurement and distribution
Art Coffee Co., Ltd. (Japan) 100.00 Production and sales of roasted coffee beans
Cape Flattery Silica Mines Pty., Ltd. (Australia) 100.00 Mining, refining, and sales of silica sand
Cermaq Group AS (Norway) 100.00 Farming, processing and sales of salmon
Dai-Nippon Meiji Sugar Co., Ltd. (Japan) 100.00 Manufacturing and wholesale of sugar products
Foodlink Corporation (Japan) 99.42 Sales of meat and meat products
Indiana Packers Corporation (U.S.A.) 80.00 Processing and sales of pork
Japan Farm Holdings Inc. (Japan) 92.66 Poultry/Swine breeding, chicken processing
MC Healthcare, Inc. (Japan) 80.00 Hospital management solutions, medication & medical equipment distribution
Mitsubishi Corporation Fashion Co., Ltd. (Japan) 100.00 Design, manufacturing and sales of apparel products
Mitsubishi Shoji Construction Materials Corporation (Japan) 100.00 Marketing of construction materials
Mitsubishi Shoji Packaging Corporation (Japan) 92.15 Sales and marketing of packaging products/systems & paper products
Mitsubishi Shokuhin Co., Ltd. (Japan) 61.99 Wholesale of processed foods, frozen and chilled foods etc.
Company Name Voting Rights (%) Main Business
Living Essentials Group
Nihon Shokuhin Kako Co., Ltd. (Japan) 59.82 Manufacturing of corn starch and related processed products
Nippon Care Supply Co., Ltd. (Japan) 74.78 Rental and sales of nursing care equipment and items
Nitto Fuji Flour Milling Co., Ltd. (Japan) 64.48 Flour miller
Nosan Corporation (Japan) 100.00 Manufacturing and marketing of livestock feed
Princes Limited (U.K.) 100.00 Manufacturing of food products and soft drinks
Riverina (Australia) Pty., Ltd. (Australia) 100.00 Marketing of grains and manufacturing of animal feed and its marketing
TH Foods, Inc. (U.S.A.) 53.16 Manufacturing of rice crackers
Toyo Reizo Co., Ltd. (Japan) 88.70 Processing and sales of marine products
Lawson, Inc. (Japan) 50.14 Franchise chain of LAWSON convenience stores
Kokusai Bulk Terminal Co., Ltd. (Japan) 50.10 Harbor transportation and warehousing business
MC Data Plus, Inc. (Japan)* 74.40 Cloud service, big data analytics service, etc.
<Equity-method affiliates>
KFC Holdings Japan, Ltd. (Japan) 35.25 Fast-food restaurant chain and home-delivery pizza stores
Beijing Tianxingpuxin Bio-Med Co., Ltd. (China) 20.00 Pharmaceuticals and medical supplies
Itoham Yonekyu Holdings Inc. (Japan) 38.94 Manufacturing and sales of meats and processed foods
Kadoya Sesame Mills, Inc. (Japan) 26.35 Manufacturing and sales of sesame oil and sesame
Kanro Co., Ltd. (Japan) 30.33 Manufacturing and sales of confectioneries
Life Corporation (Japan) 23.49 Supermarket chain stores
Matsutani Chemical Industry Co., Ltd. (Japan) 30.00 Processing of starch
MCC Development Corporation (U.S.A.) 30.00 Holding company of ready-mixed concrete companies
Mitsubishi Cement Corporation (U.S.A.) 28.71 Manufacturing and marketing of cement
Sinopharm Group Beijing Huahong Co., Ltd. (China) 20.00 Pharmaceutical and medical supplies
Olam International Limited (Singapore) 20.33 Farming, procuring, processing and sales of agriproducts
MC Agri Alliance Ltd. (Japan) 70.00 Import, sales & marketing, and distribution of agriproducts
Mitsubishi Corporation Financial & Management Services (Japan) Ltd. (Japan) 100.00 Accounting, financial and foreign exchange services, credit
control and management consulting
MC Finance & Consulting Asia Pte Ltd (Singapore) 100.00 Financial & treasury services
Mitsubishi Corporation Finance PLC (U.K.) 100.00 Financial & treasury services
MC Finance Australia Pty Ltd (Australia) 100.00 Financial & treasury services
Human Link Corporation (Japan) 100.00 HR consulting and operations services
Mitsubishi Corporation Insurance Co., Ltd. (Japan) 100.00 Non-life insurance agent and agent for life insurance solicitation, and risk management consulting
MC Communications Inc. (Japan) 100.00 Advertising agency services, video production, WEB production, various booklet/manual production, events management
MC Facilities Co., Ltd. (Japan) 100.00 Facility management services; office operation support services
TechnoAssociates, Inc. (Japan) 51.00 Research and consulting
Mitsubishi Shoji & Sun Co., Ltd. (Japan) 67.00 System development, build-up of network, technical operation, drawing-up of business card, data input
Human Link Asia Pte. Ltd. (Singapore) 100.00 Comprehensive HR solutions services
iVision Shanghai Co., Ltd. (China) 51.00 IT consulting, business solution systems development, maintenance and operation, etc.
Tata Consultancy Services Japan, Ltd. (Japan) 49.00 IT-related business solutions, system integration services, IT management services and product marketing, etc.
SIGMAXYZ Inc. (Japan) 33.30 Business consulting services
Infosec Corporation (Japan) 40.00 General service provider in the field of information security
MIC Business Solutions, Inc. (U.S.A) 100.00 System consulting, project management, system development and operation, network deployment, IT help-desk, IT training
Company Name Voting Rights (%) Main Business
Corporate Staff Section**
Number Of Consolidated Subsidiaries And Equity-Method Affiliates By Operating SegmentGlobal
Environmental & Infrastructure
Business Group
Industrial Finance, Logistics &
Development GroupEnergy Business Group Metals Group Machinery Group Chemicals Group Living Essentials Group Corporate Staff Section Regional Subsidiaries Total
No. of Consolidated Subsidiaries and
Equity-Method Affiliates221 201 102 189 166 75 255 19 46 1,274
・Number of employees at parent company and all of its consolidated subsidiaries: 77,164 ・Number of employees at parent company alone: 5,217 ・Companies affiliated with subsidiaries are included in the number of consolidated subsidiaries and equity-method affiliates.
* Transferred from the Corporate Staff Section in June 2017.** Includes companies falling under the former Business Service Group, which was merged with the Corporate Staff Section on April 1, 2017.