MITSUBISHI ELECTRIC CORPORATIONPUBLIC RELATIONS DIVISION

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No. 3701

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Factory Automation Systems Group
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Mitsubishi Electric to Establish Vietnamese JV for FA ProductsWill initially produce low-voltage circuit breakers for factory-automation products in ASEAN region

Rendition of planned factory

TOKYO, May 24, 2024 – Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it willacquire an 80% stake in Fuji Bakelite Vietnam Co., Ltd. in outskirts of Hanoi, a subsidiary of Fuji BakeliteCo., Ltd. in Okayama Prefecture, Japan. The new joint venture (JV) company, to be named Mitsubishi ElectricFP Automation Vietnam Co., Ltd., will be established on June 1 and will begin production of air circuit
breakers from January 2025, in addition to the current company’s existing line of small low-voltage circuit
breakers.
Fuji Bakelite Vietnam, which has been in operation since 2014, manufactures small low-voltage circuit
breakers for Mitsubishi Electric’s Fukuyama Works in Hiroshima Prefecture. The new JV will leverage Fuji
Bakelite Vietnam’s skilled workforce and expertise in manufacturing and quality control in Vietnam in its
manufacturing operations.
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Up to now, Mitsubishi Electric has expanded its factory automation (FA) business in the ASEAN region byexporting products manufactured mainly in Japan. In the future, however, the demand for FA products isexpected to increase robustly in countries such as Vietnam, Thailand, Indonesia and Malaysia, where strong
economic growth is forecasted. Establishing a JV company in Vietnam will enable Mitsubishi Electric to builda production system for low-voltage circuit breakers. In the future, this JV company aims to further expand its
FA systems business by enhancing product supply capabilities in ASEAN countries to meet the growing
demand for FA products.
About New Joint Venture Company
Name
Location
General Director
Establishment
Shareholders
Employees
Business

Mitsubishi Electric FP Automation Vietnam Co., Ltd.
Thang Long Industrial Park II, outskirts of Hanoi, Vietnam
Soichiro Kuninobu
June 1, 2024
Mitsubishi Electric 80%, Fuji Bakelite Co., Ltd. 20%
Approximately 400
Manufacturing and sales of FA products###About Mitsubishi Electric Corporation
With more than 100 years of experience in providing reliable, high-quality products, Mitsubishi ElectricCorporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electricaland electronic equipment used in information processing and communications, space development and satellite
communications, consumer electronics, industrial technology, energy, transportation and building equipment.
Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company
recorded a revenue of 5,257.9 billion yen (U.S.$ 34.8 billion*) in the fiscal year ended March 31, 2024. For
more information, please visit www.MitsubishiElectric.com*U.S. dollar amounts are translated from yen at the rate of ¥151=U.S.$1, the approximate rate on the Tokyo
Foreign Exchange Market on March 31, 2024

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