REG - Mitsubishi Corp. - Change in Status of MC Subsidiary

ItronAnnouncement

01/10/2021 09:45

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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