TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (Tokyo stock code: 6503) today announced that it will transfer its building systems business and assets (including the manufacture and sale of elevators and escalators) To its wholly-owned subsidiary Mitsubishi Electric Building Technology. -Services Limited (MELTEC). The transfer will be achieved through an absorption company split ("company split"); therefore, some information is omitted in this announcement.

Mitsubishi Electric has identified the building systems business as one of its main growth areas in its mid-term business plan for fiscal year 2026. Therefore, the company is striving to expand the scale of this business and increase profitability by investing more intensive management resources to drive growth.

In order to further strengthen global competitiveness and improve efficiency, Mitsubishi Electric decided to integrate its management structure and transfer the building system business, which is mainly responsible for the newly installed elevators and escalators, to a wholly-owned subsidiary mainly responsible for the newly installed elevators and escalators. Maintenance and renewal of elevators and escalators.

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Customer Inquiries: Building Systems Group Mitsubishi Electric Corporation BSG.Webmaster@ny.MitsubishiElectric.co.jp www.MitsubishiElectric.com/products/building/

For media inquiries, Komatsu Bukit Public Relations Department Mitsubishi Electric Corporation Tel: +81-3-3218-2346 prd.gnews@nk.MitsubishiElectric.co.jp www.MitsubishiElectric.com/news/

Customer Inquiries: Building Systems Group Mitsubishi Electric Corporation BSG.Webmaster@ny.MitsubishiElectric.co.jp www.MitsubishiElectric.com/products/building/

For media inquiries, Komatsu Bukit Public Relations Department Mitsubishi Electric Corporation Tel: +81-3-3218-2346 prd.gnews@nk.MitsubishiElectric.co.jp www.MitsubishiElectric.com/news/