Mitsubishi Electric, a Japanese multinational electronics and electrical equipment manufacturing company, agreed to acquire Motum, which operates an elevator and automatic door business mainly in Sweden. Financial terms were not disclosed. "Elevators and escalators are one of the core businesses in Mitsubishi Electric’s medium-term growth plan to 2025. The company is working to grow business overseas, including in Europe, a mature market in which demands for maintenance and renewals are expected to increase due to aging equipment and high local awareness of environmental needs. Mitsubishi Electric, in addition to meeting these needs by applying its advanced know-how, also plans to strengthen its building-solutions business in Europe by increasingly incorporating its own building-related products and services," Mitsubishi Electric.