MHPS to Change Company Name to "Mitsubishi Power"

YOKOHAMA, Japan, Jul 31, 2020 - (JCN Newswire) - Mitsubishi Hitachi Power Systems, Ltd. (MHPS), a part of Mitsubishi Heavy Industries (MHI) Group, announced on April 24, 2020, that it will change its name to "Mitsubishi Power, Ltd." in conjunction with the transfer of shares in MHPS held by Hitachi, Ltd. to MHI. The date of the company name change, which was not fixed at that time, is on the schedule below.

Since its founding, MHPS has steadily improved its strength in three core areas: technology, comprehensive engineering, and after-sales servicing so as to respond to the needs of customers and society. The Company also continues to successfully achieve global business expansion. In this way, the Company is able to provide products of superlative quality and reliability, deliver projects around the world, and consistently meet user needs.

Under its new name, Mitsubishi Power, as one of the core subsidiaries of MHI Group, offers cutting-edge technologies and energy solutions for the power industry, supporting affordable and reliable power supplies in regions throughout the world. Further, by providing world-leading technologies, Mitsubishi Power is a key participant in creating a decarbonized, sustainable economy, helping to solve the challenges facing our global society.

Date of the Change of Company Name: September 1, 2020

Group Companies: The names of some Group companies in China and India, which had not been determined previously, have been decided as shown in the attachment.

See MHPS' Group Companies Name: https://www.mhps.com/news/pdf/20200731.pdf

About Mitsubishi Hitachi Power Systems, Ltd.

Mitsubishi Hitachi Power Systems, Ltd. (MHPS), headquartered in Yokohama, Japan, is a joint venture formed in February 2014 by Mitsubishi Heavy Industries, Ltd. and Hitachi, Ltd. integrating their operations in thermal power generation systems and other related businesses. MHPS today ranks among the world's leading suppliers of equipment and services to the power generation market, backed by 100 billion yen in capital and approximately 20,000 employees worldwide. The Company's products include GTCC (gas turbine combined-cycle) and IGCC (integrated coal gasification combined-cycle) power plants, gas/coal/oil-fired (steam) power plants, boilers, generators, gas and steam turbines, geothermal power plants, AQCS (air quality control systems), power plant peripheral equipment, digital solutions and solid-oxide fuel cells (SOFC).

For more information, please visit www.mhps.com.

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