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Mitsubishi Electric Establishes Company to Coordinate Sales in India

Aims to increase sales threefold in Indian market by 2016

Tokyo, October 12, 2010 - Mitsubishi Electric Corporation (TOKYO: 6503) today announced that it has established Mitsubishi Electric India Pvt. Ltd. to coordinate sales and accelerate its business expansion in the Indian market. The new company will incorporate the Gurgaon and Bangalore branches held by Mitsubishi Electric Asia Pte. Ltd. headquartered in Singapore, and will begin operation on November 30, 2010, initially engaging mainly in sales, marketing and after-service of air conditioning systems, factory automation systems and power device businesses.

Office building that houses Mitsubishi Electric India Gurgaon Head Office

Mitsubishi Electric aims to strengthen these operations in the Indian market, while supporting its social infrastructure-related businesses such as its power generation and distribution business, railway equipment business and elevator and escalator business. For the fiscal year ending March 31, 2016, Mitsubishi Electric is targeting an approximate threefold increase in consolidated net sales* in the Indian market compared to its sales in the fiscal year ended March 31, 2010.

High market growth is expected in India, which is driven by its population of 1.2 billion people, and some foresee the nation becoming the world's fourth largest economy (GDP) by 2025, following the United States, China and Japan. In addition to demand for transportation, energy and other infrastructure, India's consumer market is also rapidly expanding in step with a growing middle class. Mitsubishi Electric is positioning India as one its priority markets, as it aims to expand its businesses in emerging untries with high growth prospects.

*Includes sales of Mitsubishi Electric, Mitsubishi Electric India and other Group associated companies based outside Japan

New Company Outline

Company name Mitsubishi Electric India Pvt. Ltd.
Location Head Office: Gurgaon, Haryana State, Branch: Bangalore, Karnataka State
Representative Shinji Yamabe
Paid-in capital (plan) 500 million Indian rupees (approximately 0.95 billion Japanese yen)
Investment ratio Mitsubishi Electric Asia Pte. Ltd.:70%, Mitsubishi Electric Corporation: 30%
Establishment date September 21, 2010
Start of operations (plan) November 30, 2010
Activities - Sales and after-service of air conditioning, factory automation and power device products
- Support for development of other businesses

Main Roles of Mitsubishi Electric India

1. Consolidate sales channels
・ While Mitsubishi Electric previously relied on sales via distributors, the new company will act as a base for strengthening links with distributors and building direct sales channels.
2. Propose system solutions
・ In addition to stand-alone sales, the new company will expand its system solution business.
3. Reinforce marketing capabilities
・ Utilizing local market information, the new company will facilitate the development of products suited to India's needs.
4. Enhance after-service
・ The new company will enhance customer trust by actively conducting its own after-service activities.
5. Bolster Group strength
・ The new company will work to expand Mitsubishi Electric Group businesses in India by developing new businesses, raising brand presence and planning regional strategies that utilize common Group functions such as human resources and finance.