Mitsubishi

MUFG bullish on India, seeks M&A deals to drive growth, expand presence

The goal for Japan's largest lender is to push up its buyouts and investment in India

Mitsubishi Electric Group firm to invest Rs 400 cr in Karnataka plant

Bangaluru-headquartered Climaveneta Climate Technologies (CCT), a Group company of Japanese multinational Mitsubishi Electric, is investing Rs 400 crore in its state-of-the-art plant at Narsapura in Kolar district, its CEO Anil Dev said on Thursday. He said the plant would be inaugurated on Friday. We are investing Rs 400 crore at our Narsapura plant. Presently we are having an order booking of over Rs 500 crore, as we target to double the annual order intake in next five years, Dev said. "The plant will manufacture central air-conditioning equipment such as Screw Chillers, Magnetic Levitation Technology Chillers, Scroll Chillers, Conventional Centrifugal Chillers, High Precision AC units, Heat Pumps, for HVAC application, he said at a press conference. According to him, CCT serves major clients all over India, including multinational hotel chains, healthcare establishments, malls, multiplexes, commercial projects of leading developers and corporate groups. Presently the company h

RBI cracks down on shadow banks over high-interest loans, rule violations

The Reserve Bank of India ordered four shadow banks to stop sanctioning new loans because of high interest rate charges to customers

TVS Mobility, Mitsubishi Corp sign deal for employee exchange programme

MC Japan will host employees from TVS Mobility and train them in automotive and mobility sectors

Mitsubishi CEO says weak yen hurting economy, poses risks to deals abroad

The yen has slid to 34-year lows this year as the Bank of Japan keeps interest rates low, causing investors to buy higher-yielding currencies

Mitsubishi to enter Indian car market with over 30% stake in TVS Mobility

Leveraging TVS Mobility's existing network of approximately 150 outlets, the new venture will also establish dedicated stores for each car brand

Chennai tribunal gives split verdict over GST on salaries to expats

The issue dealt with by Cestat was limited to the question of valuation and arriving at the taxable value and not the taxability of the transaction

Nike, Mitsubishi struggle to get Indian certification for Chinese vendors

Nike, Mitsubishi, and Carrier, among others, are having difficulty obtaining Bureau of Indian Standards (BIS) certification for their vendor factories in China

Essar Oil UK selects Mitsubishi as technology licensor for carbon capture

Essar Oil UK Limited (EOUK) on Friday said it has selected Mitsubishi Heavy Industries Ltd as technology provider for the development of the required basic engineering design package for its new EET Industrial Carbon Capture facility based at Stanlow, UK. This is a leading use of carbon capture technology, associated with a fluid catalytic cracker within refineries globally. "Following a detailed due diligence process, technology provider MHI has been selected for the carbon dioxide capture process section of the plant. Once captured, the carbon dioxide will be permanently sequestered into depleted gas fields under the sea in Liverpool Bay, as part of the HyNet cluster in the North West of England," the company said in a statement. Essar had announced the proposed construction of the EET Industrial Carbon Capture plant at the Stanlow Refinery in November 2022. Participating in the Cluster Sequencing Track One Expansion process, the company plans for the facility to be operational i

Mitsubishi, Tesla, Ola Electric to bid for India's lithium reserves

Automakers appear to be at the forefront of bidders for the recently uncovered lithium reserves in the Jammu and Kashmir region

Japan's Mitsubishi Electric to build plant in Tamil Nadu for $231 million

The Indian arm of Japan's Mitsubishi Electric Corp said on Tuesday that it will invest 18.91 billion rupees ($231.2 million) to set up a manufacturing facility in the southern state of Tamil Nadu

Japan's Mitsubishi, energy body join Gates' nuclear project

The memorandum of understanding signed Wednesday calls for cooperation in developing advanced nuclear technologies

Mitsubishi names power business boss Katsuya Nakanishi as CEO

Nakanishi, 61, currently runs the firm's power solution group and was involved in its 2019 acquisition of Eneco

'Shocked' Mitsubishi Electric CEO to quit over false inspections

Sugiyama, who became CEO in 2018 and has been with Mitsubishi for more than four decades

Mitsubishi Heavy to freeze development of SpaceJet regional jet: Report

The sources with knowledge of the decision told Reuters that the plan would be announced along with a medium-term business plan on Oct. 30

Mitsubishi Pajero's last sigh: Romance with diehard group of loyalists ends

The Pajero was a legend in India even before it officially arrived because of the exposure it was given by consular officials, actors and industrialists

Mitsubishi to discontinue Pajero from next year; stock falls over 10%

Japan's No. 6 automaker anticipates an operating loss of $1.33 bn

M&M to develop four new platforms for tractors along with Mitsubishi

The partners are looking to start from 13 horsepower going up all the way to 70 horsepower, for markets like the US, Southeast Asia, India and Japan

Ghosn used joint venture between Nissan, Mitsubishi to inflate pay: Lawyers

Ghosn, the former chairman of the Renault-Nissan-Mitsubishi alliance, was arrested in Japan in 2018 on financial misconduct charges but fled to Lebanon last December

Mitsubishi offices raided in Germany over suspected diesel emissions fraud

A spokesperson for Mitsubishi Motors in Japan on Wednesday confirmed the raid on its German distributors as well as on its European research and development facilities