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    8002   JP3877600001

MARUBENI CORPORATION

(8002)
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Marubeni Corporation : - Delivery of Zero-Emission Refrigerated Trailers for Leasing by PLM Fleet, LLC.

02/05/2021 | 09:38am EDT

Marubeni Corporation (hereinafter 'Marubeni') and Mizuho Leasing Company, Limited (hereinafter 'Mizuho Leasing') have begun delivery of zero-emission refrigerated trailers designed and manufactured by Advanced Energy Machines (hereinafter referred to as 'AEM') in the United States to customers in December last year through PLM Fleet, LLC (hereinafter 'PLM'), a U.S.-based refrigerated trailer leasing and rental business.

As a leader in the U.S. cold chain supply industry, PLM has been educating refrigerated fleet operators on the viability of zero-emission refrigerated trailers, holding joint exhibitions and lectures with AEM, since 2019. In May 2020, PLM signed an agreement with AEM and started sales activities in the U.S. market. PLM has since signed agreements with major customers and began delivery of zero-emission refrigerated trailers in 2020. Interest and demand for the zero-emission technology is steadily increasing as the technology continues to prove itself as a viable alternative to diesel.

In the United States, hybridization and electrification are accelerating in not only passenger cars and trucks, but also refrigerated trailers equipped with transport refrigeration units traditionally powered by diesel engines. Companies have begun to transition fleet equipment to green alternatives leveraging lease flexibility as an important tool in the change. The state of California is leading the way with guidance aimed at accelerating the reduction of harmful pollutants by providing support for zero-emission vehicles and equipment as well as infrastructure and distributed energy solutions.

Compared to diesel powered transport refrigeration units (hereinafter 'TRUs'), AEM zero-emission technology eliminates many tons of carbon dioxide annually while also eliminating harmful nitrogen oxides. In addition to helping the environment, the AEM TRUs use low-voltage, safe charging to greatly reduce the risk of electric shock to equipment users. Available across all trailer sizes and configurations, including multiple temperature applications, the AEM TRUs use battery technology along with solar and momentum generation to extend useful routes before recharging.

Through PLM, Marubeni and Mizuho Leasing will contribute to deliver low-carbon and sustainable solutions by expanding environmentally focused products with advanced technology in the cold chain market, which will continue to grow and evolve in the years to come.

Contact:

Tel: [81] (3) 3282-2111

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MARUBENI CORPORATION -0.28% 956.6 End-of-day quote.39.43%
MIZUHO LEASING COMPANY, LIMITED -0.85% 3515 End-of-day quote.13.20%
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Financials
Sales 2022 7 126 B 62 472 M 62 472 M
Net income 2022 327 B 2 871 M 2 871 M
Net Debt 2022 1 776 B 15 567 M 15 567 M
P/E ratio 2022 5,10x
Yield 2022 4,87%
Capitalization 1 662 B 14 608 M 14 567 M
EV / Sales 2022 0,48x
EV / Sales 2023 0,47x
Nbr of Employees 42 882
Free-Float 97,2%
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 956,60 JPY
Average target price 1 091,82 JPY
Spread / Average Target 14,1%
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Managers and Directors
Masumi Kakinoki President, CEO & Representative Director
Takayuki Furuya CFO, Representative Director & Head-IR
Fumiya Kokubu Chairman
Mutsumi Ishizuki Representative Director & Chief Compliance Officer
Takao Kitabata Independent Outside Director
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