Hitachi transfers its stake in the home elevator joint venture to Mitsubishi Electric

According to an announcement issued by Hitachi, Ltd. (Japan) on January 21, 2026, Hitachi has signed an agreement to transfer all of its shares in the joint venture for home elevators between the two brands – Mitsubishi Hitachi Home Elevator Corporation – to Mitsubishi Electric Building Solutions (Japan).

Thus, upon completion of the transaction, the Mitsubishi Hitachi Home Elevator joint venture will become wholly owned by Mitsubishi Electric Building Solutions.

This move is part of Hitachi's new mid-term management plan, "Inspire 2027," which aims to increase cash flow, optimize capital allocation, accelerate business portfolio transformation, and realize the Group's "True One Hitachi" strategy to enhance corporate value.

In the elevator business, Hitachi stated it will focus its management resources on product lines that can serve as digital assets, including standard models and custom-designed models. The focus extends beyond ensuring safe building operation to increasing value through the application of Hitachi's AI and digital technologies.

Specifically, Hitachi will leverage operational data from elevators combined with specialized expertise accumulated from over 30 years of inspection records, then integrate it with advanced AI to enhance maintenance quality and operational efficiency. These solutions are deployed within its new-generation solution suite "HMAX for Buildings: BuilMirai."

Hitachi also stated that the share transfer in the home elevator joint venture is not expected to have a significant impact on the Group's consolidated financial results.

For home elevators already supplied and currently under maintenance contracts by Hitachi and Hitachi Building Systems, Hitachi Building Systems will continue to provide support and services until the current contracts expire, ensuring customer rights and continuity.

Additional Information

Mitsubishi Hitachi Home Elevator Corporation is a joint venture between Hitachi, Ltd. and Mitsubishi Electric Building Solutions Corporation, operating in the home elevator sector in Japan.

The company specializes in the development, design, manufacturing, sales, and installation of elevators for residential homes and small-scale buildings. Headquartered in Gifu Prefecture, it has a capital of 1 billion yen and approximately 230 employees (as of the end of March 2025).

Regarding the Hitachi Group, Hitachi's revenue for the fiscal year 2024 (ended March 31, 2025) was 9,783.3 billion yen, with 618 consolidated subsidiaries and approximately 280,000 employees worldwide.