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    7011   JP3900000005

MITSUBISHI HEAVY INDUSTRIES, LTD.

(7011)
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End-of-day quote. End-of-day quote Japan Exchange - 12/07
2711.5 JPY   +2.86%
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Mitsubishi Heavy Industries : New Carriages for AGT System in Hiroshima Win "GOOD DESIGN AWARD 2021"

10/22/2021 | 05:29am EST

TOKYO, Oct 22, 2021 - (JCN Newswire) - - The new 7000-Series carriages in service on the "Astram Line," an Automated Guideway Transit (AGT) system designed and manufactured by Mitsubishi Heavy Industries Engineering, Ltd. (MHIENG), a group company of Mitsubishi Heavy Industries, Ltd. (MHI), have received a "GOOD DESIGN AWARD 2021(1)" from Japan Institute of Design Promotion. The Astram Line is operated by Hiroshima Rapid Transit Co., Ltd. as part of the city of Hiroshima's public transit system. The award was presented in recognition of renewal for new era both the carriages' outstanding functional upgrades and carrying on the line's identity as a symbol of peace befitting Hiroshima.

The award-winning carriages retain the chrome yellow hue of the original carriages, a color selected as a symbol of "peace" "goodwill" "ideal", and adopt a recurring pattern of 16 dots also interpreted as a message of peace(2). Together, these design elements conjure an expression of "continuation and evolution", a concept praised by the award sponsor as ideally in harmony with the present and future of Hiroshima. The award also recognized the Astram Line carriages' substantial functional upgrades: seats, bogies, air-conditioning and other system improvements resulting in enhanced safety and comfort; environmental compatibility; and attention to passenger needs, especially use of baby strollers and a barrier-free design.

In addition, the new 7000-Series carriages were also selected to receive the top award in the product category of the "17th Hiroshima Good Design Award 2021," a program operated by the Hiroshima -shi Industrial promotion center(3). The carriages are manufactured locally at MHIENG's Mihara Machinery Works in Hiroshima Prefecture, and their double award-winning achievement demonstrates their contribution to their home area. Local production combined with local utilization deepens local understanding toward MHIENG, and the newly received awards further reinforce MHIENG's firm determination and commitment to contribute to the sustained development of its local community.

The Astram Line connects Hondori Station in Hiroshima's city center with Koiki-koen-mae Station in its northwestern outskirts, a total distance of 18.4 kilometers (11.4 miles) - making the Astram Line the longest AGT operating in Japan. The new 7000-Series carriages are being manufactured to replace the existing cars, with plans calling for a total of 24 trains (144 carriages) to be delivered in stages through FY2024. Six trains have already been handed over.

MHIENG has a long track achievement of ESG initiatives by supplying AGT systems, clean mobility systems which emit no CO2, because its carriages are driven by an electric motor. Going forward, by handling all aspects of transportation projects, throughout planning, design, manufacturing, construction, testing, operation and maintenance, MHIENG will continue to respond to reduction of environmental impact both in Japan and around the world.

(1) GOOD DESIGN AWARD are presented in recognition of design that fulfills a purpose or offers an ideal. The design can be of something tangible or intangible: for example, industrial goods, architecture, software, services, etc. The "G MARK" symbolizing award winners is widely known in Japan.

(2) The 16 dots, arranged in 4 lines of 4 dots, express safety and comfort. Their round shape is associated with life, peace and the earth, and their orderly pattern symbolizes gatherings of people and hearts.

(3) This program aims to deepen understanding toward design by honoring excellent designs of locally produced commodities, both to promote their sales and to support industries with links to design.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, logistics & infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on www.spectra.mhi.com.

Copyright 2021 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials
Sales 2022 3 709 B 32 682 M 32 682 M
Net income 2022 95 238 M 839 M 839 M
Net Debt 2022 1 012 B 8 916 M 8 916 M
P/E ratio 2022 9,68x
Yield 2022 3,48%
Capitalization 910 B 8 013 M 8 019 M
EV / Sales 2022 0,52x
EV / Sales 2023 0,45x
Nbr of Employees 79 974
Free-Float 91,2%
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Number of Analysts 10
Last Close Price 2 711,50 JPY
Average target price 3 581,00 JPY
Spread / Average Target 32,1%
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Managers and Directors
Seiji Izumisawa President, CEO, Director & Chief Strategy Officer
Hisato Kozawa CFO, Representative Director & Manager-Corporate
Shunichi Miyanaga Chairman
Eisaku Ito CTO & Managing Executive Officer
Naoyuki Shinohara Independent Outside Director
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