Mitsubishi Electric Corporation has reached an agreement to transfer a portion of its shareholding in its wholly owned subsidiary, Mitsubishi Electric FA Industrial Products Corporation, to Konecranes Oyj, a Finland-based global provider of lifting and material-handling solutions. The transaction is expected to be completed during the fiscal year ending March 2027, subject to regulatory approvals.
Following completion of the transaction, Konecranes will hold a 70% stake in Mitsubishi Electric FA Industrial Products, while Mitsubishi Electric will retain a 30% ownership interest. The company is also expected to operate under a new name following the completion of the transfer.
Based in Fukuoka, Japan, Mitsubishi Electric FA Industrial Products has developed its hoist and geared motor businesses over several decades, primarily serving the Japanese market. The company has built expertise in industrial products by leveraging advanced technologies and established customer relationships.
Konecranes is a global leader in material-handling equipment, including cranes, hoists and related services, with operations across more than 50 countries. The company provides solutions across manufacturing, ports and industrial sectors through a service-oriented business model focused on maintenance, modernization and digital technologies.
Mitsubishi Electric said the partnership will enable both companies to combine their respective technologies, product expertise and sales networks to strengthen competitiveness in Japan and accelerate global business expansion. By integrating resources from both organizations, the new business structure is expected to enhance product offerings, improve customer support capabilities and create additional opportunities for long-term growth.
Marko Tulokas, President and Chief Executive Officer of Konecranes, said, “This planned acquisition strengthens our global presence and expands our position in the Japanese market. Mitsubishi Electric FA Industrial Products brings strong technologies, products and experienced personnel that complement our existing capabilities. The business represents a strategic fit for Konecranes and creates opportunities for further growth through combined expertise and synergies.”
Takayuki Tsuzuki, Senior Executive Officer and Group President, Factory Automation Systems at Mitsubishi Electric Corporation, said, “Mitsubishi Electric FA Industrial Products has developed nearly eight decades of technological expertise and a strong business foundation. By combining these capabilities with Konecranes’ global leadership in hoists and geared motors, we believe this partnership will support continued growth and development of the business.”
The transaction is not expected to have a significant impact on Mitsubishi Electric’s consolidated financial results for the fiscal year ending March 2027. The company said any material changes resulting from the transaction will be disclosed separately as required.
The partnership reflects both companies’ focus on strengthening industrial solutions by combining specialized manufacturing technologies with global market capabilities. Through the collaboration, Mitsubishi Electric FA Industrial Products is expected to gain access to broader international markets, while Konecranes will enhance its product portfolio and presence in Japan.
