Mitsubishi Corp. - Change in Status of MC Subsidiary

Daejoo Electronic Materials

01/10/2021 08:42

RNS Number : 7126N

Mitsubishi Corporation

01 October 2021

 

Translation of report filed with the Tokyo Stock Exchange on October 1, 2021

 

October 1, 2021

To Whom It May Concern

Company name
Mitsubishi Corporation
Representative
Takehiko Kakiuchi,President and Chief Executive Officer
Code Number
8058
Contact
Takuma Okamoto, Press Relations Team Leader, Corporate Communications
TEL +81-3-3210-2171

 

 

Notification of Change in Status of MC Subsidiary (to that of Specified Subsidiary)

 

This is to inform you that the status of Mitsubishi Corporation (MC) subsidiary Diamond Distributed Energy Investments, LLC (DDEI) has been changed to that of a specified subsidiary. Details are outlined below.

 

１．Reason for Change

Due to recent business reorganizations, MC's interest in DDEI increased to a larger-than-10% share on August 3, 2021, thus satisfying the condition for DDEI to be re-designated as a "specified subsidiary" of MC.

 

 

２．DDEI Profile

(1)
Company Name
Diamond Distributed Energy Investments, LLC
(2)
Address
850 New Burton Road, Suite 201, Dover, DE 19904, U.S.A.
(3)
Representative
Masanori Kohama
CEO of Diamond Generating Corporation (DGC), Sole Member of DDEI and MC subsidiary based in the US.
(4)
Operations
Management of entities engaged in distributed solar power generation.
(5)
Capital
365,021,655 USD (as of August 3, 2021)
(6)
Date of Establishment
June 29, 2021
(7)
Main Shareholders and Investment Ratio
Diamond Distributed Energy Management, LLC (DDEM) 100%
(8)
Relationship with the Listed Company
Capital
DDEI is a wholly owned subsidiary of DDEM, of which MC is the sole owner through its US-based subsidiary DGC.
Personnel
There are currently no MC employees seconded to DDEI.
Business
MC currently has no business relationship with DDEI.

 

 

３．Outlook

This change in status is not expected to have any impact on MC's business performance.

 

 

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