Mitsubishi UFJ Lease & Finance

July 30, 2019

News Release

Company Name:

Mitsubishi UFJ Lease & Finance Company Limited

Representative:

Takahiro Yanai, President & CEO

Securities Code:

8593

Listing:

Tokyo Stock Exchange, First Section

Nagoya Stock Exchange, First Section

For inquiries:

Taro Hasegawa, General Manager

Corporate Communications Department

Mitsubishi UFJ Lease & Finance to Invest in an Electricity Distribution Business

in the United Kingdom

Mitsubishi UFJ Lease & Finance Company Limited ("MUL") hereby announces its decision to participate in electricity distribution business in the UK by acquiring a stake in "Electricity North West Limited" ("ENWL"), an electricity distributor supplying the North West of England.

KDM Power Limited., a holding company jointly established by MUL, Kansai Electric Power Co., Ltd. ("Kansai") and Daiwa Energy Infrastructure Co., Ltd. ("Daiwa") and Equitix Ltd. ("Equitix") acquired 50% of ENWL shares from institutional investors advised by First State Investments and J.P. Morgan Asset Management. As a result, MUL holds 4.8% of ENWL's equity interest.

ENWL, which is based in Warrington in the North West of England, owns and maintains a cable network of 57,000km in an area extending from urban Manchester to rural Cumbria, serving approximately five million customers across 2.4 million premises.

In the current Medium-Term Management Plan "Breakthrough for the Next Decade", MUL has positioned social infrastructure as a priority focus industry and is actively promoting numerous initiatives both in Japan and overseas. This is the first stake MUL has taken in the field of overseas electricity distribution, expanding its target sector following a stake in undersea power transmission business for offshore wind power plants in Germany, a stake in onshore wind power plants in the Republic of Ireland, and a stake in an offshore windfarm project in the UK.

In the movement shifting to renewable energy resources, electricity distribution network is positioned as a fundamental infrastructure which takes important roles along with the development of new technology including effective utilization of dispersed power resources (decentralized power system, electricity storage system, EV, etc.) and sophistication of demand-supply adjustment function (AI, IoT, smart meter, etc.).

By participating in this business partnering with the prominent players in the industry, MUL aims to achieve further expansion of its business presence in the electric power sector and contribution to sustainable development of social infrastructure on a global scale.

Overview of ENWL

Company name

Electricity North West Limited

Headquarters

304 Bridgewater Place, Birchwood Park, Warrington, WA3 6XG

Share Equity

£238.4 million (as of Mar 2019)

Total Assets

£3,452 million (as of Mar 2019)

Sales

£458.3 million (as of Mar 2019)

Net Profit

£71.8 million (as of Mar 2019)

Representative

John Roberts (Chairman)

KDM Power

32.07%

Shareholder Composition

First State Investment:

25.00%

JP Morgan Asset Management

25.00%

Equitix

17.93%

Overview of KDM Power Limited

Company name

KDM Power Limited

Kansai

55.1%

Shareholder Composition

Daiwa

30.0%

(Indirect investment)

MUL

14.9%

Electricity North West Limited

Manchester

London

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Disclaimer

Mitsubishi UFJ Lease & Finance Co. Ltd. published this content on 30 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2019 10:54:08 UTC