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

MITSUBISHI ELECTRIC CORPORATION

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Mitsubishi Electric : to supply Traction System for NS New Generation Sprinter EMUs

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05/26/2015 | 10:30pm EDT

Note that the releases are accurate at the time of publication but may be subject to change without notice.

FOR IMMEDIATE RELEASE No. 2936
Mitsubishi Electric to supply Traction System for NS New Generation Sprinter EMUs

Dedicated to growing transportation systems business in European market

TOKYO, May 27, 2015- Mitsubishi Electric Corporation has announced today that it has been awarded a contract by Spanish train builder Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF) to supply high tech traction equipment for 118 New Generation Sprinter (SNG) EMUs for Dutch Railways (NS).

The project, in partnership with the Italian Branch of Mitsubishi Electric Europe B.V., was considered to be one of the biggest train supply orders in Europe during 2014. Mitsubishi Electric secured the contract to supply traction equipment to CAF based on its proven technology, which has been successful both in worldwide markets as well as the Japanese domestic market. The new trains will replace Type SGMm 2 ─ and 3 ─ car "Sprinter" EMUs and the last remaining sets of Type Mat '64. Delivery and commercial operation of the trains is to start in 2018, with the delivery of the traction system expected to start from 2016.

The scope of the agreement includes the supply of Traction Inverters and other systems related to traction. High-efficiency, regenerative braking performance and downsized equipment will contribute to energy saving.

Mitsubishi Electric and Mitsubishi Electric Europe B.V. have been supplying Traction Inverter products to European transportation markets for some time, having implemented proven Mitsubishi Electric technology during current modernization projects with Deutsche Bahn AG (DB) Intercity Express2 (ICE-2) High-Speed train and other EMUs / Metro projects in Europe. Mitsubishi Electric also expects to see the introduction of new IGBT technology called SiC (Silicon carbide power module) to the market, which will contribute to the development of eco-friendly and energy efficient trains in Europe.

Customer Construcciones y Auxiliar de Ferrocarriles,S.A.
Project Volume Supply of traction equipment for 118* New Generation Sprinter EMUs
Delivery 2016-2018
* Both for passenger saloon and driver's cabin
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Financials (JPY)
Sales 2020 4 518 B
EBIT 2020 263 B
Net income 2020 217 B
Finance 2020 280 B
Yield 2020 2,95%
P/E ratio 2020 13,5x
P/E ratio 2021 12,2x
EV / Sales2020 0,58x
EV / Sales2021 0,53x
Capitalization 2 906 B
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 1 795,71  JPY
Last Close Price 1 354,50  JPY
Spread / Highest target 70,5%
Spread / Average Target 32,6%
Spread / Lowest Target 10,7%
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Managers
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Takeshi Sugiyama President, CEO & Director
Masaki Sakuyama Chairman
Tadashi Kawagoishi Director & Head-Accounting
Nobuyuki Okuma Director & Senior Managing Executive Officer
Akihiro Matsuyama Director
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