#Japan #Hitachi #Mitsubishi Electric #Home Elevator #Minokamo

Hitachi Transfers Shares in Mitsubishi Hitachi Home Elevator Company

Hitachi, Ltd. has recently announced its decision to transfer all of its shares in the Mitsubishi Hitachi Home Elevator Company to Mitsubishi Electric Building Solutions. This strategic move follows the company’s aim to streamline its efforts and resources into more significant projects, especially those that harness artificial intelligence and digital technology. The stock transfer is expected to take effect during the first quarter of the fiscal year ending March 2027.

The joint venture, known as Mitsubishi Hitachi Home Elevator, was established between Hitachi and Mitsubishi Electric Building Solutions to develop, manufacture, and sell home elevators and small-scale elevators suitable for residential properties. As Hitachi continues to implement its new management plan, “Inspire 2027,” the focus will shift towards strengthening cash flow, optimizing capital allocation, and accelerating portfolio reform. The goal is to boost the overall corporate value of Hitachi.

Following the share transfer, Hitachi plans to concentrate its management resources on standard elevator models, particularly the Urban Ace HF series, and custom elevator solutions. These initiatives aim not only to deliver smooth transportation within buildings but also to enhance value further by integrating advanced AI and digital technologies.

One of the hallmark projects unveiled is “HMAX for Buildings: BuilMirai.” This initiative will leverage operational data from elevators and maintenance records accumulated over the past three decades, paired with cutting-edge artificial intelligence. This next-generation solution is set to drive improvements in maintenance quality and operational efficiency, aligning with Hitachi's vision of a smart, interconnected urban landscape.

Despite these significant changes, the impact of this stock transfer on Hitachi's consolidated performance is anticipated to be minimal. The ongoing home elevator projects that Hitachi and Hitachi Building Systems supply will continue to be managed responsibly by Hitachi Building Systems until their contracts conclude.

Hitachi's CI (Core Innovation) sector also emphasizes new industrial solutions based on a rich installation base of digitized data, aligning it with growth sectors through “Integrated Industry Automation.” Hitachi Building Systems aims to contribute to the well-being of individuals by innovating the frontline work environment through the offerings under HMAX for Buildings: BuilMirai.

Overview of Mitsubishi Hitachi Home Elevator Company

• - Company Name: Mitsubishi Hitachi Home Elevator (Name expected to change after the stock transfer)
• - Location: 38 Kaede-dai, Minokamo-shi, Gifu
• - CEO: Hiroshi Araki
• - Business Focus: Development, design, production, sales, and installation of home elevators, small-scale building elevators, and small residential elevators
• - Capital: 1 billion yen (50% by Hitachi, 50% by Mitsubishi Electric Building Solutions)
• - Employees: Approximately 230 (as of March 2025)

Trademark Notice

All company names and product names mentioned are trademarks or registered trademarks of their respective companies.

About Hitachi, Ltd.

Hitachi is committed to contributing to a harmonized society where the environment, happiness, and economic growth coexist through social innovation business. The company operates in multiple sectors, including Digital Systems & Services, Energy, Mobility, and Connected Industries, focused on solving societal challenges by creating value from data through its core product, Lumada. With projected sales revenue of ¥9.7833 trillion for the fiscal year ending March 2025 and 618 subsidiaries worldwide, Hitachi employs around 280,000 people globally. For more information, visit www.hitachi.co.jp.