Mitsubishi Electric Logistics Corporation Becomes Seino Subsidiary and Renamed MD LOGIS CORPORATION

TOKYO--(BUSINESS WIRE)--SEINO HOLDINGS CO., LTD. (TOKYO and NAGOYA: 9076) and Mitsubishi Electric Corporation (TOKYO: 6503) announced today their completion of a share transaction under which Seino acquired 66.6 percent of the common shares of Mitsubishi Electric Logistics Corporation from Mitsubishi Electric, as previewed in a joint announcement on June 18 (“Mitsubishi Electric Logistics Corporation to Become Seino Subsidiary”). Following the share transfer, the company was renamed MD LOGIS CORPORATION.

Seino and Mitsubishi Electric now respectively hold 66.6% and 33.4% of the voting rights in MD LOGIS, which has become a subsidiary of Seino and an equity-method affiliate of Mitsubishi Electric, effective today.

The name change was approved at a Mitsubishi Electric Logistics shareholders’ meeting on September 27 following a partial amendment of the company’s articles of incorporation.

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