Mitsubishi : Notification of Change in Status of MC Subsidiary (to that of Specified Subsidiary)TSE
October 01, 2021 at 07:22 am EDT
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October 1, 2021
To Whom It May Concern
Company name
Mitsubishi Corporation
Representative
Takehiko Kakiuchi,President and Chief
Executive Officer
Code Number
8058
Contact
Takuma Okamoto, Press Relations Team
Leader, Corporate Communications
TEL +81-3-3210-2171
Notification of Change in Status of MC Subsidiary (to that of Specified Subsidiary)
This is to inform you that the status of Mitsubishi Corporation (MC) subsidiary Diamond Distributed Energy Investments, LLC (DDEI) has been changed to that of a specified subsidiary. Details are outlined below.
１．Reason for Change
Due to recent business reorganizations, MC's interest in DDEI increased to a larger-than-10% share on August 3, 2021, thus satisfying the condition for DDEI to be re-designated as a "specified subsidiary" of MC.
２．DDEI Profile
(1)
Company Name
Diamond Distributed Energy Investments, LLC
(2)
Address
850 New Burton Road, Suite 201, Dover, DE 19904, U.S.A.
Masanori Kohama
(3)
Representative
CEO of Diamond Generating Corporation (DGC), Sole Member of DDEI and
MC subsidiary based in the US.
(4)
Operations
Management of entities engaged in distributed solar power generation.
(5)
Capital
365,021,655 USD (as of August 3, 2021)
(6)
Date of Establishment
June 29, 2021
(7)
Main Shareholders and
Diamond Distributed Energy Management, LLC (DDEM) 100%
Investment Ratio
Capital
DDEI is a wholly owned subsidiary of DDEM, of which MC
is the sole owner through its US-based subsidiary DGC.
Relationship with the
(8)
Personnel
There are currently no MC employees seconded to DDEI.
Listed Company
Business
MC currently has no business relationship with DDEI.
３．Outlook
This change in status is not expected to have any impact on MC's business performance.
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Disclaimer
Mitsubishi Corporation published this content on 01 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2021 11:21:01 UTC.
Mitsubishi Corporation is a diversified group organized around 10 sectors of activity:
- manufacturing of food and consumer products (29.9% of net sales);
- production of chemicals and petroleum products (19.9%): crude oil, refined products, natural gas, synthetic fiber materials, petrochemicals, fertilizers and specialty chemicals ;
- production and processing of metals (12.6%): iron, steel products and non-ferrous metals;
- mineral resources exploitation (16.5%);
- exploration and production of natural gas (6.7%);
- car manufacturing (5.3%);
- production, transmission and distribution of electricity (5.3%);
- construction of energy infrastructure and industrial facilities (3.3%). The group also sells construction machinery, machine tools, agricultural machinery, elevators, escalators, facility management, ships and aviation equipment;
- development of real estate assets (0.4%);
- other (0.1%).
Net sales break down geographically as follows: Japan (51.8%), the United States (15.5%), Singapore (7%), Australia (6.2%) and other (19.5%).
MITSUBISHI CORPORATION 
