A recent analysis report by KBSV Securities Vietnam revealed that in the first nine months of 2024, the volume of yellow phosphorus sold by DGC to Mitsubishi increased by 20% compared to the same period in 2023. Mitsubishi currently accounts for 67% of DGC’s yellow phosphorus export revenue.
As one of the largest conglomerates in Japan, Mitsubishi Corporation has been conducting its business operations through a global network comprising approximately 1,300 companies.
In Vietnam, the Group has undertaken several significant transactions. For instance, on May 14, 2024, Masan High-Tech Materials (MHT) announced a Framework Agreement with the Mitsubishi Materials Corporation Group (MMC). As per the agreement, MMC intended to acquire 100% of H.C. Starck Holding (HCS) from MHT. HCS is a wholly-owned subsidiary of Masan High-Tech Materials and a manufacturer of high-quality tungsten powder.
Following the announcement of the Framework Agreement, MMC sold over 109.9 million MSR shares (equivalent to a 10% stake) on May 30.
Mitsubishi was established by Yataro Iwasaki as a marine transportation company in 1870, initially named Tsukumo Shokai. The company name was changed to Mitsukawa Shokai in 1872 and then to Mitsubishi Shokai in 1874.
Today, Mitsubishi Corporation has eight business groups operating across most industries: Energy & Natural Resources, Materials, Mobility, Infrastructure & Community Development, Food Industry, and Lifestyle.
Mitsubishi previously invested in two BOT power plant projects in Vietnam: Vung Ang 2 Thermal Power Plant (1,330 MW capacity) and Vinh Tan 3 Thermal Power Plant (1,980 MW capacity). In 2021, according to Nikkei Asia, Mitsubishi decided to withdraw from the Vinh Tan 3 project. They also sold a 15% stake in the Vung Ang II coal-fired power plant to Shikoku Electric Power Co., Inc. of Japan.
According to Mitsubishi’s 2024 annual report, the company holds 51% of the voting rights in DRI-GP2 Co., Ltd. (a Japanese company), which invests in the development of Grand Park Phase 3, a large-scale urban development project in the outskirts of Ho Chi Minh City, Vietnam. The remaining 49% ownership is held by Nomura Real Estate Development Co., Ltd.
Previously, Mitsubishi and Nomura Real Estate acquired 80% of Vinhomes Grand Park’s Phase 2, encompassing 26 hectares and over 10,000 apartment units.
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