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MITSUBISHI CORPORATION

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Mitsubishi Corporation : Participates in Laos Wind Farm Project

06/16/2021 | 05:54am EDT

TOKYO, Jun 16, 2021 - (JCN Newswire) - - Mitsubishi Corporation (MC) has reached agreement to invest in Impact Energy Asia Development Limited (IEAD), the developer of a 600MW capacity onshore wind farm project in Laos. MC will invest through an intermediate holding company together with a group company of Impact Electrons Siam Co., Ltd. in Thailand. The initiative is being executed through Diamond Generating Asia, Limited (DGA), MC's wholly owned subsidiary in Hong Kong.

The onshore wind farm will be located in Sekong and Attapeu Provinces in southern Laos. The wind farm will be the first wind farm in Laos and the largest in South East Asia. By installing a dedicated power transmission line to Vietnam, power from the wind farm is planned to be sold to Vietnam Electricity, a state-owned electric power company in Vietnam, for 25 years.

In Vietnam, in addition to the need for further power supply to support its growing economy, it is crucial to secure a power source in the dry season, when the operating rate of one of Vietnam's main power sources, hydro power generation, is limited. The onshore wind farm is expected to operate at a high rate during the dry season, when hydro power generation is limited, and is expected to contribute to the stabilization of Vietnam's power system while making country's energy mix greener.

The onshore wind farm is being developed as part of a memorandum of understanding on power interchange signed between the Vietnamese and Lao governments in October 2016. If electricity exports from this project are realized, it is expected to be the first cross-border electricity interchange from wind power generation in South East Asia as planned by Lao government.

We will continue to contribute to the realization of a decarbonized society by striving to achieve both a stable supply of electricity in Vietnam and addressing the environmental challenges for the stable society.

Copyright 2021 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials
Sales 2021 12 407 B 113 B 113 B
Net income 2021 231 B 2 103 M 2 103 M
Net Debt 2021 4 890 B 44 503 M 44 503 M
P/E ratio 2021 19,7x
Yield 2021 4,37%
Capitalization 4 530 B 41 206 M 41 225 M
EV / Sales 2021 0,76x
EV / Sales 2022 0,65x
Nbr of Employees 77 164
Free-Float 95,0%
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 3 345,00 JPY
Last Close Price 3 069,00 JPY
Spread / Highest target 30,3%
Spread / Average Target 8,99%
Spread / Lowest Target -12,0%
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Managers and Directors
NameTitle
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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