Change in Statuses of MC Subsidiaries

Mitsubishi Corporation

29 March 2024

 

Translation of report filed with the Tokyo Stock Exchange on March 2024

March 29, 2024

To Whom It May Concern

Company name	Mitsubishi Corporation
Representative	Katsuya Nakanishi, President and Chief Executive Officer
Code Number	8058
Contact	Takuma Okamoto, Press Relations Team Leader, Corporate Communications TEL [phone]

Notification of Change in Statuses of MC Subsidiaries

This is to inform you that the statuses of five MC subsidiaries have changed and excluded from subsidiaries as of today. The subsidiaries in question are Diamond Realty Investment Ocean Park Co., Ltd. (DRIOP), MCOP Investment Pte. Ltd. (MCOP), MV2 Vietnam Real Estate Trading Joint Stock Company (MV2), MV Holding One Member Liability Limited Company (MVH) and SV Real Estate Investment Development Business Joint Stock Company (SV).

Reasons for Changes

The status of DRIOP has changed due to the transfer of stocks based on the Sales and Purchase Agreement between Mitsubishi Corporation and new shareholders, and the approval from President and Chief Executive Officer of DRIOP, on March 29, 2024.

The status of MCOP, in which DRIOP holds stakes, and the status of MV2, MVH and SV, in which MC indirectly hold stakes via DRIOP and MC Urban Development Vietnam Company Limited (MCUDV), has changed on the same date March 29, 2024 due to the transfer of stocks in DRIOP.

Company Profiles

(1) DRIOP (※1)

(1)	Company Name	Diamond Realty Investment Ocean Park Co., Ltd.
(2)	Address	6-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo, Japan
(3)	Representative	Jun SAEKI
(4)	Operations	SPC for Investment in Real Estate Business in Vietnam
(5)	Capital	10,650,750,000 JPY
(6)	Date of Establishment	September 22, 2021
(7)	Main Shareholders and Investment Ratio	TAISEI CORPORATION 33.4%, Hankyu Hanshin Properties Corp. 33.4%, Tokyu Land Asia Pte. Ltd. 33.1%, Mitsubishi Corporation 0.1%
(8)	Relationship with the Listed Company	Capital	DRIOP is a 0.1% owned by MC.
		Personnel	One MC employee currently serves as director and One MC employee currently serves as auditor at DRIOP.
		Business	MC currently has no business relationship with DRIOP.

(※1) DRIOP is not a specified Subsidiary of MC before and after the transfer.

l Number and price of shares and status of shares held before and after the transfer

(1) Number of shares held before the transfer	21,301,500,000 shares (number of voting rights：21,301,500,000) (percentage of voting rights：100%)
(2) Number of shares transferred	21,280,198,500 shares (number of voting rights：21,280,198,500) (percentage of voting rights：99.9%) Total price of transfer：JPY28,400million
(3) Number of shares held after the transfer	21,301,500 shares (number of voting rights：21,301,500) (percentage of voting rights：0.1%)

(2) MCOP

(1)	Company Name	MCOP Investment Pte. Ltd.
(2)	Address	1 Temasek Avenue #19-00 Millenia Tower Singapore 039192
(3)	Representative	Hironori INOUE
(4)	Operations	Real Estate Business in Vietnam
(5)	Capital	183,000,100 USD
(6)	Date of Establishment	September 23, 2021
(7)	Main Shareholders and Investment Ratio	Diamond Realty Investment Ocean Park Co., Ltd. (DRIOP) 100.00%
(8)	Relationship with the Listed Company	Capital	MCOP is a wholly owned subsidiary of DRIOP, of which is 0.1% owned by MC.
		Personnel	Three MC employees currently serve as directors at MCOP.
		Business	MC currently has no business relationship with MCOP.
(9)	Recent Performance			from Sep 2021 to Mar 2022	from Apr 2022   to Mar 2023
		(thousand USD) Net assets Total assets Revenue Operating profit Ordinary profit Net profit after tax Net profit attributable to MC (※2) (one USD) Net assets per share Net profit per share Dividend per share		181,780 182,318 0 23 ▲1,221 ▲1,221 ▲1,221 993 ▲7 No dividend	180,440 180,551 0 584 ▲1,266 ▲1,339 ▲1,339 986 ▲7 No dividend

(※2) based on MC's investment ratio in the subject period

(3) MV2    

(1)	Company Name	MV2 Vietnam Real Estate Trading Joint Stock Company
(2)	Address	Tang 2 Trung Tam Thuong Mai Vincom Mega Mall Ocean Park Tai Lo Dat CCTP-10 Thuoc Du An Khu Do Thi Gia Lam, Thi Tran Trau Quy, Huyen Gia Lam, Thanh Pho Hanoi, Vietnam
(3)	Representative	Kazuki SHIONOYA
(4)	Operations	Joint Stock Company for Real Estate Business in Vietnam
(5)	Capital	10,551,497,580,000 VND
(6)	Date of Establishment	October 13, 2021
(7)	Main Shareholders and Investment Ratio	MCOP Investment Pte. Ltd. 39.08% MC Urban Development Vietnam Company Limited 41.09%
(8)	Relationship with the Listed Company	Capital	MV2 is 41.13% owned subsidiary of MC through MCUDV and MV2.
		Personnel	Four MC employees currently serve as directors at MCOP.
		Business	MC currently has no business relationship with MV2.
(9)	Recent Performance			from Oct 2021   to Dec 2022	from Jan 2023   to Mar 2023
		(million VND) Net assets Total assets Revenue Operating profit Ordinary profit Net profit after tax Net profit attributable to MC (one VND) Net assets per share Net profit per share Dividend per share		9,503,564 9,504,011 0.1 ▲386 ▲386 ▲386 ▲159 10,000 ▲0.4 No dividend	9,503,342 9,504,035 0.02 ▲221 ▲221 ▲221 ▲91 9,999 ▲0.2 No dividend

(4) MVH

(1)	Company Name	MV Holding One Member Liability Limited Company
(2)	Address	Tang 2 Trung Tam Thuong Mai Vincom Mega Mall Ocean Park Tai Lo Dat CCTP-10 Thuoc Du An Khu Do Thi Gia Lam, Thi Tran Trau Quy, Huyen Gia Lam, Thanh Pho Hanoi, Vietnam
(3)	Representative	Kazuki SHIONOYA
(4)	Operations	Joint Stock Company for Real Estate Business in Vietnam
(5)	Capital	10,551,497,580,000 VND
(6)	Date of Establishment	October 11, 2021
(7)	Main Shareholders and Investment Ratio	MV2 Vietnam Real Estate Trading Joint Stock Company 100.00%
(8)	Relationship with the Listed Company	Capital	MVHOM is a wholly owned subsidiary of MV2, which is 41.13% owned by MC through its subsidiaries MCUDV and MCOP.
		Personnel	one MC employee currently serves as director at MVH.
		Business	MC currently has no business relationship with MVH.
(9)	Recent Performance			from Oct 2021   to Dec 2022	from Jan 2023   to Mar 2023
		(million VND) Net assets Total assets Revenue Operating profit Ordinary profit Net profit after tax Net profit attributable to MC		9,503,683 9,504,004 0.1 ▲267 ▲267  ▲267 ▲110	- 9,503,511 9,504,027 0.02 ▲172 ▲172 ▲172 ▲71

(5) SV

(1)	Company Name	SV Real Estate Investment Development Business Joint Stock Company
(2)	Address	Tang 2 Khu Almaz Market Duong Hoa Lan Khu Do Thi Sinh Thai Vinhomes Riverside, Phurong Phuc Loi, Quan Long Bien, Thanh Pho Hanoi, Vietnam
(3)	Representative	Kazuki SHIONOYA
(4)	Operations	Joint Stock Company for Real Estate Business in Vietnam
(5)	Capital	10,573,702,020,000 VND
(6)	Date of Establishment	October 31, 2019
(7)	Main Shareholders and Investment Ratio	MV Holding One Member Liability Limited Company 99.79%
(8)	Relationship with the Listed Company	Capital	SV is a 99.79% owned subsidiary of MVH which is a wholly owned subsidiary of MV2, of which MC is 41.13% owner through its subsidiaries MCUDV and MCOP.
		Personnel	Four MC employees currently serve as directors at SV.
		Business	MC currently has no business relationship with SV.
(9)	Recent Performance			from Jan to Dec 2021	from Jan to Dec 2022	from Jan to Mar 2023
		(million VND) Net assets Total assets Revenue Operating profit Ordinary profit Net profit after tax Net profit attributable to MC (one VND) Net assets per share Net profit per share Dividend per share		9,237,250 12,857,715 0 ▲40,057 ▲40,057 ▲50,570 - 9,699 ▲53 No dividend	9,226,788 9,823,920 56,903 56,185 ▲16,279 ▲10,463 ▲4,290 9,688 ▲11 No dividend	9,280,587 9,896,594 3 ▲304 ▲19,825 53,799 22,060 9,744 56 No dividend

Profile of Counterparty of the Transfer

(1) TAISEI CORPORATION

(1)	Company Name	TAISEI CORPORATION
(2)	Address	1-25-1, Nishi-Shinjuku, Shinjuku-ku, Tokyo 163-0606
(3)	Representative	Yoshiro AIKAWA
(4)	Operations	Construction, civil engineering, real estate development, etc.
(5)	Capital	JPY122,742 million
(6)	Date of Incorporation	December 28, 1917
(7)	Assets	As of March 31, 2023 Net assets JPY833,942million Total assets JPY2,016,717million
(8)	Main Shareholders and Investment Ratio	The Master Trust Bank of Japan, Ltd. 15.61%、Custody Bank of Japan, Ltd. 4.98%、NORTHERN TRUST CO. 3.37%
(9)	Relationship with the Listed Company before the transfer	Capital	There is no capital relationship between the two companies.
		Personnel	There is no personnel relationship between the two companies.
		Business	MC ordered construction work to TAISEI CORPORARTION in FY2022.

(2) Hankyu Hanshin Properties Corp.

(1)	Company Name	Hankyu Hanshin Properties Corp.
(2)	Address	Hankyu Terminal Bldg., 1-1-4 Shibata, Kita-ku, Osaka
(3)	Representative	Ryuichi MOROTOMI
(4)	Operations	Leasing of offices and commercial facilities, real estate development, area management, real estate funds, sales and leasing of condominium, sales of detached houses and residential land, brokerage, renovation, rental management, land utilization, etc.
(5)	Capital	JPY12,426million
(6)	Date of Establishment	February 17, 1947
(7)	Assets	As of March 31, 2023 Net assets JPY156,498million Total assets JPY617,391million
(8)	Main Shareholders and Investment Ratio	Hankyu Hanshin Holdings, Inc. 100%
(9)	Relationship with the Listed Company before the transfer	Capital	There is no capital relationship between the two companies.
		Personnel	There is no personnel relationship between the two companies.
		Business	There is no business relationship between the two companies.

(3) Tokyu Land Asia Pte. Ltd.

(1)	Company Name	Tokyu Land Asia Pte. Ltd.
(2)	Address	One Raffles Quay North Tower, Level 49, Singapore 048583
(3)	Representative	Hidetatsu IKEDA
(4)	Operations	Investing in condominiums, hotel complexes, and office development, etc. in Asian nation.
(5)	Capital	USD82.0million
(6)	Date of Incorporation	September 31, 2018
(7)	Assets	As of December 31, 2022 Net assets USD76.8million Total assets USD77.0million
(8)	Main Shareholders and Investment Ratio	TOKYU LAND CORPORATION 100%
(9)	Relationship with the Listed Company before the transfer	Capital	There is no capital relationship between the two companies.
		Personnel	There is no personnel relationship between the two companies.
		Business	There is no business relationship between the two companies.

Outlook

These status changes are not expected to have any impact on MC's business performance.

 

END