Core Insights - Mitsubishi Electric Corporation has completed the acquisition of AG MELCO Elevator Co. L.L.C., making it a wholly owned subsidiary [1] Company Summary - The acquisition involves AG MELCO Elevator, an affiliated elevator company based in Dubai, United Arab Emirates [1] - The shares were acquired from Rawafed Almustaqbal Group L.L.C., which is a 100% subsidiary of Al Ghurair Investment L.L.C. [1] - Mitsubishi Electric's Tokyo-based subsidiary, Mitsubishi Electric Building Solutions Corporation, is also involved in this acquisition [1]

Stock Performance - A little-known Japanese elevator stock has surged nearly 6,000% [1] Business Strategy - The company's strategy involves buying up heirless family-run firms [1]