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    8058   JP3898400001

MITSUBISHI CORPORATION

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Mitsubishi : Port of Rotterdam Authority, Koole Terminals, Chiyoda Corporation and Mitsubishi Corporation Sign MoU to Study Commercial-Scale Hydrogen Imports to the Netherlands

07/30/2021 | 12:43am EDT

TOKYO, Jul 30, 2021 - (JCN Newswire) - - The Port of Rotterdam Authority (POR), Koole Terminals, Chiyoda Corporation and Mitsubishi Corporation have entered into an MoU for the joint-study of commercial-scale imports of hydrogen to the Port of Rotterdam utilizing Chiyoda?s hydrogen storage and transportation technology (SPERA HydrogenTM).

In May 2020, POR announced its Hydrogen Vision, under which it is aiming at developing green hydrogen supply chains for Northwestern Europe and becoming a hub for hydrogen imports. Its goals are to bring in 20 million tons of hydrogen annually by 2050, with tiered volume targets of 100,000 - 200,000 tons by 2025 and 300,000 - 400,000 tons by 2030.

Successfully completed in December 2020, the first international hydrogen supply chain utilizing SPERA Hydrogen connects the Nation of Brunei and Japan's Kawasaki City. The technology is expected to play an important role in the realization of more commercial-scale hydrogen supply chains around the world. Backed by a strong and shared interest in both Chiyoda's technology and its commercial potential, the aforementioned parties to this MoU have already engaged in numerous discussions regarding future applications and opportunities.

In accordance with the terms of this MoU, MC will take the lead in forging a hydrogen business value chain. Through this and other initiatives, the sogo shosha is demonstrating its commitment to environmental conservation and the development of sustainable societies by helping to achieve long-term emission-reduction targets and accelerate energy transitions in Europe.

*SPERA Hydrogen is an organic chemical hydride (OCH) hydrogen storage and transportation technology. LOHC (liquid organic hydrogen carrier) technologies allow hydrogen to be safely transported in chemical tankers at normal atmospheric temperature and pressure.

Copyright 2021 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials
Sales 2022 14 939 B 131 B 131 B
Net income 2022 674 B 5 897 M 5 897 M
Net Debt 2022 4 566 B 39 930 M 39 930 M
P/E ratio 2022 7,90x
Yield 2022 3,98%
Capitalization 5 328 B 46 642 M 46 595 M
EV / Sales 2022 0,66x
EV / Sales 2023 0,64x
Nbr of Employees 77 164
Free-Float 95,3%
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Number of Analysts 12
Last Close Price 3 609,00 JPY
Average target price 3 925,83 JPY
Spread / Average Target 8,78%
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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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