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


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


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


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


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


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


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


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


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


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


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.


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.


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


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.

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