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Article Excerpt
TOKYO -- Mitsubishi Electric Corporation (President and CEO: Setsuhiro Shimomura)(TOKYO:6503) announced today its strategy for continued expansion of its power systems business, with an aim to achieve annual sales of 400 billion yen in the period between fiscal 2014-2016 (April 2013 to March 2016).
Background
Mitsubishi Electric's power systems business is involved in the generation, transmission and distribution of electricity, as well as other energy-related fields such as particle beam treatment systems and information and telecommunications systems for power utilities. In the power generation business, Mitsubishi Electric offers products such as turbine generators, hydraulic turbine generators and power plant supervision and control systems, while, in the transmission and distribution related business, the company provides a range of products including high voltage switchgears, power transformers, and protection and control systems.
In Japan, power utility firms reduced their capital investments during the period from 1993 through 2004, but recently, expenditures in energy equipment have seen steady growth, with total investments increasing by 47 percent from 1.5 trillion yen in fiscal 2005...
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