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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Mitsubishi Heavy Industries, Ltd.    7011   JP3900000005

MITSUBISHI HEAVY INDUSTRIES, LTD.

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Mitsubishi Heavy Industries : MHI Thermal Systems Develops Air Conditioners using R32 Refrigerant for the European Market

11/27/2020 | 10:56am EST

TOKYO, Nov 27, 2020 - (JCN Newswire) - - Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), a Mitsubishi Heavy Industries (MHI) Group company, is launching a line of single fan and multiple room outdoor unit air conditioners for buildings that use R32 refrigerant. Launched specifically for the European market, the systems will sell through MHI subsidiary Mitsubishi Heavy Industries Air-Conditioning Europe, Ltd. (MHIAE).

Available from December 2020, the product lineup will include six models with capacity up to 4, 5, and 5.5 horsepower, each available in either the single-phase alternating current (AC) common in ordinary homes, or the three-phase AC used in factories and other facilities that consume a lot of electricity. As countries throughout the world are shifting to refrigerants with less environmental impact, such as R32. The highly anticipated product lineup will respond to the decline of R410A refrigerant usage, a common option in Europe in the air conditioning market up to now.

The series will optimise the company's top-selling model in the European market, the Micro KX series with the R32 refrigerant variant. The latest model will keep its current single fan structure to maintain its small and lightweight size. However, the refrigerant distribution system in the outdoor unit will change to accommodate the material property of R32 refrigerant, and increased performance of the heat exchanger will maximise to further enhance efficiency. Additional innovations include updating the compressor motor from a distributed winding type to a concentrated winding type. The new compressor motor will improve unit performance at an intermediate capacity, and lower standby power consumption from greater efficiency.

R32 refrigerant has zero ozone depletion potential (ODP)(1) and one-third of the global warming potential (GWP)(2) of the conventional R410A refrigerant. This sustainable solution has attracted attention for its high heat transfer efficiency, as well as an excellent safety and environmental performance. Measures to prevent climate change have increased worldwide in response to the October 2016 Kigali revision to the Montreal Protocol. The demand to convert existing facilities to R32 refrigerant and other replacements, especially for outdoor multiple-room air conditioners, are prospective to continue in the future.

MHI Thermal Systems will focus on its sales and service for air conditioning equipment, including air conditioners for stores and offices, and building air conditioning systems. The company will continue to pursue corporate activities that take into account customer convenience and operability, as well as the global environment.

(1) Ozone Depletion Potential (ODP) is a coefficient expressing a relative value, with the widely used refrigerant CFC-11 (trichlorofluoromethane) fixed at an ODP of 1.0. The smaller the number, the less relative amount of degradation to the ozone layer.

(2) Global Warming Potential (GWP) is a coefficient expressing a relative value, with CO2 fixed at a GWP of 1.0. The smaller the number, the greater the environmental performance.

Copyright 2020 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials
Sales 2021 3 685 B 35 313 M 35 313 M
Net income 2021 15 089 M 145 M 145 M
Net Debt 2021 1 330 B 12 747 M 12 747 M
P/E ratio 2021 51,4x
Yield 2021 2,40%
Capitalization 1 051 B 10 104 M 10 077 M
EV / Sales 2021 0,65x
EV / Sales 2022 0,62x
Nbr of Employees 81 631
Free-Float 91,4%
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Mean consensus HOLD
Number of Analysts 10
Average target price 2 946,00 JPY
Last Close Price 3 129,00 JPY
Spread / Highest target 14,4%
Spread / Average Target -5,85%
Spread / Lowest Target -16,9%
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NameTitle
Seiji Izumisawa President, CEO, Director & Chief Strategy Officer
Shunichi Miyanaga Chairman
Hisato Kozawa CFO, Representative Director & Executive Officer
Michisuke Nayama Chief Technology Officer & Executive VP
Eisaku Ito CTO, Executive Officer & GM-ICT Solutions
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