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Mitsubishi Electric further bolsters presence in Turkish market

Completion of Klima Plus integration affirms commitment to the region

TOKYO, July 9, 2014 - Mitsubishi Electric Corporation (TOKYO: 6503) announces today that its local subsidiary Mitsubishi Electric Turkey A.Ş. has completed the integration of its former air conditioning distributor Klima Plus, acquired earlier this year. The move will strengthen Mitsubishi Electric's market share in the region as the business evolves to fully incorporate Klima Plus into the fold.

From June 2014, Mitsubishi Electric Turkey will now comprise of two business units, the Factory Automation Systems business and the Air Conditioning business with a projected annual turnover of approximately 270 million Turkish Lira in 2015.

Masahiro Fujisawa, President, Mitsubishi Electric Turkey comments: "The completion of the Klima Plus integration is a great step forward for us, providing us with additional opportunities in the market. We have experienced strong growth over the last year and this will serve to further strengthen our position as well as affirm our commitment to the region."

Mitsubishi Electric's existing infrastructure related businesses already available in the Turkish market such as satellites, lifts, escalators, transportation and power systems are all set to benefit.

About Mitsubishi Electric Turkey A.Ş.
President Masahiro Fujisawa
Location HQ: Istanbul (European Side)
FA business: Istanbul (Asian side), Other 4 offices (Bursa, Ankara, Izmir, Adana)
Air Conditioning business: Istanbul(Asian Side), Other 4 offices (Ankara, Izmir, Antalya, Adana)
Ownership Mitsubishi Electric Europe B.V. 70%
Mitsubishi Electric Corporation 30%
Capital 145 million Turkish Lira
Established December 7, 2012
Employees 167
Busines - Air conditioning (Sales, service and system integration of air conditioning equipment)
- FA (Factory Automation Equipment, NC sales, service and system integration)
- Support to infrastructure related businesses
- Marketing