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    6503   JP3902400005

MITSUBISHI ELECTRIC CORPORATION

(6503)
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Delayed Japan Exchange  -  12:16 2022-10-04 am EDT
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Mitsubishi Electric Building Solutions Delivers 123 Elevators to Large Office Building in China

08/01/2022 | 10:07pm EDT

TOKYO, Aug 2, 2022 - (ACN Newswire) - - Mitsubishi Electric Building Solutions Corporation (MEBS, Head Office: Chiyoda-Ku, Tokyo; President: Tadashi Matsumoto) announced today that Shanghai Mitsubishi Elevator Co., Ltd. has delivered 123 elevators for JD.com's new Headquarters building *1 for second phase construction.

The building is located in Yizhuang Economic Development Zone in Beijing and has a total floor area of 530,000 square meters. Approximately 15,000 people work in the 19-story building complex consisting of three parts (A, B and C office buildings), including five underground floors. Since many employees and visitors come and go every day, the occupation density on each floor is expected to be higher than that of a typical building. Accordingly, shortening the waiting time for elevators was a challenge.

Of the 123 units delivered, 84 are large-capacity elevators that are usually installed in 40 to 50-story buildings. These units can be operated under a group control system and MEBS's Destination Oriented Allocation System (DOAS) to efficiently transport large numbers of users at once, easing congestion in the buildings and contributing to comfortable travel.

Product Features

JD.com's new Headquarters building is recognized as a smart building with a variety of new cutting-edge building facilities installed, including facial recognition access, IP telephone and web conferencing systems using a high-speed 5G network, and AI-based building monitoring and smart lighting systems. MEBS is supporting smooth movement within the building by delivering elevators that are compatible with group control system and DOAS operation.

1) Group control system to enhance operational efficiency

- This system controls multiple elevators at all times to reduce waiting time and save electricity.

- The introduction of AI maximizes operational efficiency by predicting traffic in the buildings and controlling the number of elevators allocated accordingly.

2) Destination Oriented Allocation System (DOAS) to ensure comfortable travel

- This system eases congestion in elevator lobbies by distributing passengers according to their destination floor.

- By holding an ID card over the card reader, users can register their destination floor in advance and board the elevator without touching the hall button.

MEBS's Elevator Business in China

China is the world's largest elevator and escalator market, with an annual demand for new elevators and escalators exceeding 900,000 units. Although the growth in units sold has slowed considerably in recent years due to restrained speculation in the real estate market, moderate expansion is expected to continue against the backdrop of actual demand for public infrastructure and housing. MEBS will continue to respond to the needs of the Chinese market by providing safe, reliable, and comfortable products and services.

Overview of Project

Project Name: JD.com Headquarters (Second Phase Construction)

Location: Yizhuang Economic Development Zone, Beijing, China

Building: 5 basement levels and 19 above-ground stories

Total floor area: 530,000 m2

Products: Elevator(MAXIEZ) 123 units

Specification:

- High Zone

Unit: 84, Capacity: 1,800 kg, Speed: 240 m/m, No. of stops: 14-26, Notes: Group control system with DOAS

- Low Zone

Unit: 39, Capacity: 1,600 kg, Speed: 105 m/m, No. of stops: 3-10

Sales company: Shanghai Mitsubishi Elevator Co., Ltd. (SMEC)

Manufacturer: Mitsubishi Electric Shanghai Electric Elevator Co., Ltd. (MESE)

Overview of SMEC

Company Name: Shanghai Mitsubishi Elevator Co., Ltd.

Location: 811 Jiang Chuan Road, Minhang, Shanghai

Ownership:

- Shanghai Mechanical & Mechanical Industry Co., Ltd.: 52%

- China National Machinery Import & Export Corp.: 8%

- Mitsubishi Electric Corporation: 32%

- Mitsubishi Electric Building Solutions Corporation: 8%

Established: December 1986

Business: Sales, manufacture, installation, and maintenance of elevators and escalators

Overview of MESE

Company Name: Mitsubishi Electric Shanghai Electric Elevator Co.,Ltd.

Location: No.1211 Zhongchun Rd., Minhang, Shanghai

Ownership:

- Shanghai Mechanical & Mechanical Industry Co., Ltd.: 40%

- Mitsubishi Electric Corporation: 40%

- Mitsubishi Electric Building Solutions Corporation: 20%

Established: August 2002

Business: Sales, manufacture, installation, and maintenance of elevators and escalators

Overview of MEBS

Company Name: Mitsubishi Electric Building Solutions Corporation

Background: A new consolidated subsidiary of Mitsubishi Electric established in April 2022 to take over and integrate the building systems business of Mitsubishi Electric through an absorption-type split into Mitsubishi Electric Building Techno-Service Co., Ltd., a consolidated subsidiary mainly responsible for elevator maintenance and renewal business.

Location:

(Head Office) 7-1 Yurakucho 1-Chome, Chiyoda-ku, Tokyo

(Headquarters) 2-7-3 Marunouchi, Chiyoda-ku, Tokyo, 7-19-1 Arakawa, Arakawa-ku, Tokyo

Established: March 29, 1954 (Date of establishment of Mitsubishi Electric Building Techno-Service Co., Ltd.)

Founded: April 1, 2022

Paid-in Capital: 5,000 million yen

Representative: Tadashi Matsumoto

Business:

- Development, manufacture, sales, installation, maintenance, repair, etc., of elevators, escalators and building management systems

- Sales, installation, maintenance and repair of refrigeration systems and air conditioners

- Comprehensive building management, including monitoring and control of various building facilities, facility management, operation, and consulting

*1 In addition to the latest smart building equipment, the building is designed with consideration for the environment in accordance with China's Green Building Assessment (GB standard), which has been in effect since 2006.

Customer Inquiries

Strategic Planning Division, Global Business Group

Mitsubishi Electric Building Solutions Corporation

bod.inquiry@rk.MitsubishiElectric.co.jp

Media Inquiries

Corporate Communication Division

Mitsubishi Electric Building Solutions Corporation

a_meltec-kouhou@meltec.co.jp

Copyright 2022 ACN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
JD.COM, INC. -1.55% 49.52 Delayed Quote.-29.33%
MITSUBISHI ELECTRIC CORPORATION 2.41% 1339 Delayed Quote.-10.56%
THE KODENSHA CO., LTD. 0.24% 4120 Delayed Quote.-16.19%
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Financials
Sales 2023 4 726 B 32 747 M 32 747 M
Net income 2023 224 B 1 554 M 1 554 M
Net cash 2023 365 B 2 532 M 2 532 M
P/E ratio 2023 12,5x
Yield 2023 3,25%
Capitalization 2 760 B 19 124 M 19 124 M
EV / Sales 2023 0,51x
EV / Sales 2024 0,49x
Nbr of Employees 145 696
Free-Float 93,3%
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Number of Analysts 17
Last Close Price 1 306,50 JPY
Average target price 1 633,75 JPY
Spread / Average Target 25,0%
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Managers and Directors
Takeshi Sugiyama Executive President, CEO & Representative Director
Tadashi Kawagoishi CFO, Director, Head-Finance & Accounting
Mitoji Yabunaka Chairman
Eiichiro Mitani Chief Information Officer & Executive Officer
Kunihiko Kaga Chief Technology Officer & Executive Officer
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