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    7011   JP3900000005

MITSUBISHI HEAVY INDUSTRIES, LTD.

(7011)
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Delayed Japan Exchange  -  01:00:00 2023-02-07 am EST
4940.00 JPY   -2.27%
04:49aMitsubishi Heavy Industries :
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04:49aMitsubishi Heavy Industries : Press Release (133 KB)
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Exxon, Japan's Mitsubishi Heavy tie-up in carbon capture technology

11/29/2022 | 10:05am EST
FILE PHOTO: Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro

TOKYO (Reuters) - Japan's Mitsubishi Heavy Industries (MHI) is allying with ExxonMobil Corp to use MHI's carbon dioxide (CO2) capture technology for ExxonMobil's end-to-end carbon capture and storage (CCS) solution, the companies said in a statement.

The venture will get support from Japan's Kansai Electric Power Co (KEPCO), they added, with the technology aiming to cut the costs of CO2 capture for heavy-emitting industrial customers.

The move comes as companies around the world step up efforts to develop carbon capture and storage (CCS) technology to help combat climate change.

CCS technology has been used for years, often to enhance oil well production rates, but rising carbon prices in regions such as Europe have lifted hopes it might take off as a stand-alone business in the future.

(Reporting by Tokyo bureau; Editing by Kirsten Donovan)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL 1.59% 82.64 Delayed Quote.-6.97%
EXXON MOBIL CORPORATION -0.17% 111.73 Delayed Quote.1.47%
MITSUBISHI HEAVY INDUSTRIES, LTD. -2.27% 4940 Delayed Quote.-3.42%
THE KANSAI ELECTRIC POWER CO., INC. -0.08% 1216 Delayed Quote.-4.85%
WTI 1.68% 75.976 Delayed Quote.-8.77%
All news about MITSUBISHI HEAVY INDUSTRIES, LTD.
04:49aMitsubishi Heavy Industries :
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04:49aMitsubishi Heavy Industries : Press Release (133 KB)
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04:49aMitsubishi Heavy Industries : Financial Results (238 KB)
PU
04:49aMitsubishi Heavy Industries : Presentation Materials (625 KB)
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Analyst Recommendations on MITSUBISHI HEAVY INDUSTRIES, LTD.
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Financials
Sales 2023 4 113 B 30 995 M 30 995 M
Net income 2023 142 B 1 068 M 1 068 M
Net Debt 2023 726 B 5 468 M 5 468 M
P/E ratio 2023 12,1x
Yield 2023 2,45%
Capitalization 1 698 B 12 796 M 12 796 M
EV / Sales 2023 0,59x
EV / Sales 2024 0,55x
Nbr of Employees 77 991
Free-Float 92,4%
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Technical analysis trends MITSUBISHI HEAVY INDUSTRIES, LTD.
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 5 055,00 JPY
Average target price 5 820,00 JPY
Spread / Average Target 15,1%
EPS Revisions
Managers and Directors
Seiji Izumisawa Manager-Technology Planning
Hisato Kozawa Chief Financial Officer & Executive Officer
Shunichi Miyanaga Executive Officer & Deputy GM-Machinery Business
Eisaku Ito CTO & Co-Chief Strategy Officer
Naoyuki Shinohara Independent Outside Director
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