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    8058   JP3898400001

MITSUBISHI CORPORATION

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Mitsubishi Corp : Mitsubishi Corporation to Develop Mega Solar Projects in Iwaki, Fukushima

01/27/2013 | 08:14pm EDT

Mitsubishi Corporation (MC) is pleased to announce plans for the construction of a new solar power plant* in Iwaki City, Fukushima. The largest of its kind in the Tohoku region, the 12,000-kilowatt facility is expected to start operating from mid-2014. The project forms part of MC's overall strategic focus of developing its business in the renewable energies sector.

Known as one of the foremost industrial areas in the region and as well for being a major sightseeing area, Iwaki receives the highest amount of sunlight annually within Tohoku. MC is developing the mega solar project with full support from Nippon Kasei, as well as cooperation from the Fukushima Prefecture and Iwaki City governments. MC is simultaneously developing a 6,000-kilowatt mega solar project at the site of Onahama Petroleum Co., Ltd, a joint venture between MC and Tepco in Iwaki. Together, the two projects will constitute 18,000 kilowatts of solar power generation in total at Onahama.

MC will continue to cooperate with local governments and business partners to develop significant renewable energy businesses domestically along the lines of 'local energy production for local energy consumption'. This will help to raise Japan's energy self-sufficiency rate while at the same time nurture new industries, create employment and contribute to the overall revitalization of local communities. Projects of this nature also form a part of larger initiatives to combat global warming. Based on this policy, and including other planned mega solar power generation projects, MC is engaged in the production of some 130,000 kilowatts of power in total across the country, and is aiming to expand that capacity to 200,000 kilowatts by 2020.

*The solar plant will be located on the premises of the Onahama site, which is owned by Nippon Kasei Chemical Company Limited (Nippon Kasei), a joint investment company between MC and Mitsubishi Chemical Corporation.

[ Reference ]


© Publicnow 2013
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Sales 2022 14 939 B 132 B 132 B
Net income 2022 688 B 6 057 M 6 057 M
Net Debt 2022 4 576 B 40 316 M 40 316 M
P/E ratio 2022 7,64x
Yield 2022 4,09%
Capitalization 5 254 B 46 202 M 46 286 M
EV / Sales 2022 0,66x
EV / Sales 2023 0,63x
Nbr of Employees 77 164
Free-Float 95,3%
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Number of Analysts 12
Last Close Price 3 559,00 JPY
Average target price 3 925,83 JPY
Spread / Average Target 10,3%
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Managers and Directors
Takehiko Kakiuchi President & Representative Director
Kazuyuki Masu CFO, Representative Director & Head-Corporate
Ken Kobayashi Chairman
Yoshihiro Shimazu Manager-Administration
Akihiko Nishiyama Independent Outside Director
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