September 18, 2014 6:15 AM ET

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Company Overview of Mitsubishi Nuclear Energy Systems Inc.

Company Overview

Mitsubishi Nuclear Energy Systems Inc. supplies nuclear products and services to commercial industries in the nuclear power market. It offers reactor vessel heads and steam generators; and coordinates the construction of nuclear power plants in the United States. The company was founded in 2006 and is based in Arlington, Virginia with an additional office in Texas. Mitsubishi Nuclear Energy Systems Inc. operates as a subsidiary of Mitsubishi Heavy Industries Ltd.

1001 19th Street North

Arlington, VA 22209

United States

Founded in 2006

Phone:

703-908-8040

Fax:

703-908-8041

Key Executives for Mitsubishi Nuclear Energy Systems Inc.

Chief Executive Officer and President
Senior Vice President of Marketing and Business Operations
Chief Executive Director and Director
Executive Vice President
Senior Vice President
Compensation as of Fiscal Year 2014.

Mitsubishi Nuclear Energy Systems Inc. Key Developments

Mitsubishi Heavy Industries Ltd. and Mitsubishi Nuclear Energy Systems Inc. to Defend $4 billion Claim over US Nuke Plant

Southern California Edison and its subsidiary Edison Material Supply are asking for arbitration over the claim against Mitsubishi and its wholly-owned US subsidiary Mitsubishi Nuclear Energy System. The original dispute, first raised in July, reported that SCE had to close San Onofre Nuclear Generating Station because replacement steam generators supplied by Mitsubishi were defective. The arbitration, intended to avoid a court battle, is being sought because the two sides have so far failed to reach agreement. Through the arbitration process, Mitsubishi decided to aggressively defend itself by accurately representing the facts involved and the applicable legal principles. At the same time, Mitsubishi will take actions for its counterclaims because it has been damaged by inappropriate actions by SCE.

Edison Files Notice of Dispute with Mitsubishi Heavy Industries of Japan

Southern California Edison Co. has started legal action against the manufacturer of steam generators that failed and forced the permanent closure in June of the San Onofre nuclear power plant on the northern San Diego County coast. The electric utility filed a formal notice of dispute with Mitsubishi Heavy Industries of Japan and its United States subsidiary, Mitsubishi Nuclear Energy Systems. The action sets in motion negotiations that involve finding fault and assessing financial damages.

Mitsubishi Nuclear Energy Systems Inc. Announces Executive Changes

Mitsubishi Nuclear Energy Systems Inc. announced the appointment of Makoto Toyama to the position of President and Chief Executive Officer, effective immediately. He succeeds Kiyoshi Yamauchi. While serving as the new MNES Chief Executive Director, Mr. Yamauchi will continue to hold his position on the MNES Board of Directors and will also be Senior Corporate Advisor to Mitsubishi Heavy Industries Ltd. Mr. Yamauchi will work closely with Mr. Toyama to ensure the company's continued operational success. Mr. Toyama most recently served as Deputy Head of Nuclear Energy Systems for MHI and brings a wealth of talent and experience to this position.

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