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Mitsubishi Electric to Transfer Majority Stake in FA Industrial Products to Konecranes
Mitsubishi Electric has agreed to transfer a portion of its shares in its wholly owned subsidiary Mitsubishi Electric FA Industrial Products to Finland's Konecranes, making the unit a Konecranes subsidiary with a 70.0% stake while Mitsubishi Electric retains 30.0%. The transaction, agreed on July 2, is expected to close within the fiscal year ending March 2027 pending regulatory approvals. Mitsubishi Electric FA Industrial Products, based in Fukuoka, has built its hoist and geared motor businesses primarily in Japan, while Konecranes operates in over 50 countries with a service-led model spanning maintenance, modernization, and digital solutions. The partnership aims to combine technologies and sales networks to strengthen domestic competitiveness and expand overseas, with the company also expected to be renamed.