MITSUBISHI Electric Corporations's president and CEO Setsuhiro Shimomura, has announced the group is expanding its global warming-related businesses with the aim of reaching global sales of 1,300 billion yen in fiscal 2016 (£8.3 billion).
Mitsubishi Electric will globally expand its heat pump- related businesses, including room air conditioners, package air conditioners and hot water supply systems, to increase sales to 800 billion yen (£5 billion) in fiscal 2016 up from 570 billion-yen sales (3.6 billion) in fiscal 2008.

The group says it has already been working to improve performance and efficiency in key areas such as compressors and heat exchangers.

To strengthen its heat pump-related businesses, Mitsubishi Electric is working to increase its sales target to 610 billion yen in fiscal 2010 (£3.9 billion).

Mitsubishi Electric aims to accelerate its air-to-water business in Europe, with its efficient heat pump hot water supply system helping to achieve the company’s sales target of 50 billion yen (£320 million) in fiscal year 2013.

Mitsubishi Electric has prioritised its global warming related operations, in line with its commitments set down in its “Environmental Vision 2021,” in October 2007. This highlights the group's goals to reduce CO2 emissions from product use by 30%.