SEINO HOLDINGS CO., LTD. and Mitsubishi Electric Corporation announces 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.
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.