Japanese Conglomerate Simplifies Absorption-type Split and Share Transfer for Domestic Onshore Wind Power Generation Facilities

Mitsubishi Heavy Industries has completed the transfer of its domestic onshore wind power generation facilities to MWIND Co., Ltd. as part of a simplified absorption-type split and share transfer agreement, Breaking Defense reports. The business will be transferred to a wholly-owned subsidiary of MHI, with shares in the new company to be transferred to Electric Power Development Co.,Ltd. This move may signal MHI’s efforts to focus on core businesses and simplify its operations.