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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Mitsubishi Electric Corporation    6503   JP3902400005

MITSUBISHI ELECTRIC CORPORATION

(6503)
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Mitsubishi Elec to acquire plant from Sharp to boost EV power chip output

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06/11/2020 | 01:39am EDT
A logo of Mitsubishi Electric Corp is pictured at the CEATEC JAPAN 2017 in Chiba

Japan's Mitsubishi Electric Corp said on Thursday it would buy part of a plant in western Japan from Sharp Corp to meet growing demand for power management chips used in electric vehicles (EVs).

The move comes as Mitsubishi's rivals such as Infineon Technologies AG and ON Semiconductor Corp are boosting production capacity for power management chips, which efficiently control electric power in cars and electronic devices.

Mitsubishi, a major supplier of such chips to Toyota Motor Corp, said it would invest about 20 billion yen ($187 million) to acquire two idled facilities at Sharp's chip plant and launch production lines there.

The new plant, set to begin operating in November next year, will process wafers for power management chips, Mitsubishi said.

(Reporting by Makiko Yamazaki; Editing by Clarence Fernandez & Simon Cameron-Moore)

Stocks mentioned in the article
ChangeLast1st jan.
INFINEON TECHNOLOGIES AG -2.18% 21.745 Delayed Quote.7.07%
LINE CORPORATION 0.00% 5410 End-of-day quote.1.12%
MITSUBISHI ELECTRIC CORPORATION 0.03% 1455 End-of-day quote.-2.90%
ON SEMICONDUCTOR CORPORATION 0.64% 22.04 Delayed Quote.-9.60%
SHARP CORPORATION 0.16% 1265 End-of-day quote.-24.93%
TOYOTA INDUSTRIES CORPORATION -0.32% 6160 End-of-day quote.-2.69%
TOYOTA MOTOR CORPORATION -1.43% 7181 End-of-day quote.-6.91%
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Financials
Sales 2021 4 214 B 39 397 M 39 397 M
Net income 2021 125 B 1 169 M 1 169 M
Net cash 2021 285 B 2 662 M 2 662 M
P/E ratio 2021 25,0x
Yield 2021 2,75%
Capitalization 3 120 B 29 188 M 29 169 M
EV / Sales 2021 0,67x
EV / Sales 2022 0,61x
Nbr of Employees 146 518
Free-Float 94,2%
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Technical analysis trends MITSUBISHI ELECTRIC CORPOR
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 1 686,33 JPY
Last Close Price 1 454,50 JPY
Spread / Highest target 58,8%
Spread / Average Target 15,9%
Spread / Lowest Target -10,6%
EPS Revisions
Managers
NameTitle
Takeshi Sugiyama President, CEO & Director
Masaki Sakuyama Chairman
Tadashi Kawagoishi Director & Head-Accounting
Akihiro Matsuyama Director
Mitoji Yabunaka Independent Outside Director
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