Mitsubishi Heavy Industries Machine Tool

JTEKT announced it has terminated discussions with Mitsubishi Heavy Industries regarding a business partnership in the machine tool field, including capital participation in Mitsubishi Heavy Industries Machine Tool. The basic agreement has been cancelled.

Mitsubishi Heavy Industries and its subsidiary Mitsubishi Heavy Industries Machine Tool have reached a basic agreement with JTEKT Corporation to form a business partnership, including capital participation, in machine tools and precision tools. A formal agreement is targeted by July 31, 2018.

Mitsubishi Heavy Industries and JTEKT have mutually agreed to cancel their basic agreement and terminate discussions on a business partnership in machine tools and precision tools, which was announced on December 22, 2017.

JTEKT and Mitsubishi Heavy Industries have reached a basic agreement to cooperate in machine tools and precision tools, including capital participation in Mitsubishi Heavy Industries Machine Tool (MAT). A formal contract is targeted by July 2018.