Worth reading
64In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
1400
USD millionWording
Conditional
How definitive the wording is.This transaction
This transactionDisclosing companyMitsubishi Electric Corporation
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
Date of board resolution20 August 2026 (Japan time) (corporate decision)
Contract Date20 August 2026 (Japan time)
Execution Date / Effective DateDuring 2026 (planned)
Target company
Development and provision of software for energy trading management and optimization
Location United States (U.S.A.; Norman, Oklahoma)Share capital US$8,479Date of incorporation 1992
Net SalesUS$81.383 million (fiscal year ended December 2025)
Consideration and expenses
Acquisition priceUS$1,400 million (base purchase price for 100.0% of the equity interests; the final purchase price is expected to be determined after adjustments for cash and cash equivalents, interest-bearing debt, working capital and other items at closing)
Type of ConsiderationCash (purchase price of US$1,400 million)
Impact on Business Performance
If it becomes necessary to revise the Company’s consolidated earnings forecasts or if any matter requiring disclosure arises, the Company will promptly make an announcement.
Procedures and assumptions
Conditions Precedent to ExecutionApproval from the relevant regulatory authorities and satisfaction of other customary transaction conditions
Management structure after acquisitionPCI will become a wholly owned subsidiary of the Company. Details regarding the representative, changes to the corporate name and employee treatment are Not disclosed
| Item | Details |
|---|---|
| Transaction name | This transaction |
| Name of the Subject Company | PCI Energy Solutions (legal name: Power Costs, Inc.) |
| Business Description of the Subject Company | Development and provision of software for energy trading management and optimization |
| Location of the Subject Company | United States (U.S.A.; Norman, Oklahoma) |
| Capital Stock of the Subject Company | US$8,479 |
| Date of Establishment of the Subject Company | 1992 |
| Net Sales of the Subject Company | US$81.383 million (fiscal year ended December 2025) |
| Acquisition price | US$1,400 million (base purchase price for 100.0% of the equity interests; the final purchase price is expected to be determined after adjustments for cash and cash equivalents, interest-bearing debt, working capital and other items at closing) |
| Type of Consideration | Cash (purchase price of US$1,400 million) |
| Number of shares acquired | 100.0% of the equity interests acquired (number of shares and voting rights: Not disclosed) |
| Voting rights ownership percentage | Before 0.0％ → after 100.0％ |
| Impact on Business Performance | If it becomes necessary to revise the Company’s consolidated earnings forecasts or if any matter requiring disclosure arises, the Company will promptly make an announcement. |
| Date of board resolution | 20 August 2026 (Japan time) (corporate decision) |
| Contract Date | 20 August 2026 (Japan time) |
| Execution Date / Effective Date | During 2026 (planned) |
| Conditions Precedent to Execution | Approval from the relevant regulatory authorities and satisfaction of other customary transaction conditions |
| Management structure after acquisition | PCI will become a wholly owned subsidiary of the Company. Details regarding the representative, changes to the corporate name and employee treatment are Not disclosed |
Items this document does not state (15)
Counterparty nameOperating Profit of the Subject CompanyNet Income of the Subject CompanyNet Assets of the Subject CompanyExpenses other than the acquisition priceMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Valuation methodologyIndependent valuation institutionSpecial Committee
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The transaction is intended to expand energy management and optimization solutions by combining PCI’s energy optimization technologies and expertise with the Mitsubishi Electric Group’s expertise in control technologies and components, while also utilizing BLEnDer and Serendie. It is also intended to drive further business growth by leveraging both companies’ customer bases and sales channels.
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