Mitsubishi to transfer Nagoya transformer business to Hitachi
The transferring will occur in stages beginning in October 2024, with completion scheduled for April 1, 2026.
Image for illustration purposes.
Japan, Tokyo: Japanese electronics firm Mitsubishi Electric has announced the transfer of its Nagoya Works distribution transformer business to Hitachi Industrial Equipment Systems. The assets and other items related to the business, comprising development, design, manufacturing, sales and maintenance, will be transferred to Hitachi Industrial after obtaining approval from the authorities, and the companies will integrate their businesses. The transferring will occur in stages beginning in October 2024, with completion scheduled for April 1, 2026.
The business transfer doesn’t include the transformers manufactured at Mitsubishi Electric’s Transmission & Distribution Systems Centre, Ako Factory. Through the transfer, Hitachi Industrial Equipment Systems aims to expand its product line-up of energy-efficient and eco-friendly transformers. The transfer could accelerate the growth of grid edge solutions centered on power distribution systems, mainly in the domestic market.
Hitachi Industrial wants to contribute to the sustainable evolution of Japan’s power transmission and distribution network by utilizing Hitachi Group’s wider capabilities in IT, OT, and Products, while Mitsubishi Electric will focus on expanding its FA systems business based on its portfolio strategy of concentrating investments in priority growth businesses.
Source: Yahoo Finance
#distribution transformers#Hitachi Industrial#Hitachi Industrial Equipment Systems#Mitsubishi Electric#Nagoya Works