Japanese electronics firm Mitsubishi Electric Corp said on Friday that it has agreed to transfer the Nagoya Works distribution transformer business to Hitachi Industrial Equipment Systems Co Ltd. The assets and other items related to the distribution transformer business, comprising development, design, manufacturing, sales and maintenance, will be transferred to Hitachi Industrial after obtaining approval from the relevant authorities. The companies will integrate their businesses. The transferring will be in stages beginning in October 2024, with completion scheduled for April 1, 2026. The b…