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    6503   JP3902400005

MITSUBISHI ELECTRIC CORPORATION

(6503)
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Mitsubishi Electr. : Mitsubishi Electric Builds ST-2 Communications Satellite for SingTel-Chunghwa Joint Venture

04/06/2011 | 06:15am EDT

Mitsubishi Electric Corporation (TOKYO:6503) announced today that it has completed building the ST-2 communications satellite ordered in December 2008 by a joint venture between Singapore Telecommunications Limited (SingTel) and Taiwan's Chunghwa Telecom Company Limited (Chunghwa Telecom). Having departed Kamakura, Japan at the end of March, the satellite arrived on April 5 in French Guiana on an Antonov An-124, one of the world's heaviest fixed-wing aircraft designed to transport oversized cargo. Mitsubishi Electric will now begin launch preparations at Guiana Space Centre.

The ST-2 satellite, built at Mitsubishi Electric's Kamakura Works in Kamakura, Japan, will succeed the ST-1 satellite, which is co-owned by SingTel and Chunghwa Telecom and currently supports their various communications businesses.

Mitsubishi Electric has been a leading manufacturer contributing to space research and development in Japan mainly for Japan Aerospace eXploration Agency (JAXA), as well as participating in the development of more than 440 international satellites as major subcontractor. ST-2 makes Mitsubishi Electric the first Japanese satellite manufacturer to enter the commercial communications satellite market outside Japan using DS2000, Mitsubishi Electric's satellite bus platform currently with a track record of five satellites in orbit.

ST-2 at a glance

       
Satellite bus platform      

Mitsubishi Electric satellite bus platform DS2000

Operational design life       15 years or more
Mission       Telecommunications services for the Middle East, Central Asia, India and Southeast Asia
Orbital position       88 degrees east longitude

About Mitsubishi Electric Corporation

With over 90 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company recorded consolidated group sales of 3,353.2 billion yen (US$ 36.1 billion*) in the fiscal year ended March 31, 2010. For more information visit: http://www.MitsubishiElectric.com

*At an exchange rate of 93 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2010

Mitsubishi Electric Corporation
Customer Inquiries:
Takeru Sakamoto, +81-3-3218-9149
Commercial Space Programs Department
Sakamoto.Takeru@ap.MitsubishiElectric.co.jp
or
Media Contact:
Yurika Fujimoto, +81-3-3218-3380
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
http://www.MitsubishiElectric.com/news/


© Business Wire 2011
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Financials
Sales 2021 4 188 B 38 348 M 38 348 M
Net income 2021 163 B 1 493 M 1 493 M
Net cash 2021 344 B 3 152 M 3 152 M
P/E ratio 2021 22,2x
Yield 2021 2,13%
Capitalization 3 608 B 33 024 M 33 038 M
EV / Sales 2021 0,78x
EV / Sales 2022 0,72x
Nbr of Employees 146 518
Free-Float 94,2%
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Number of Analysts 18
Average target price 1 875,00 JPY
Last Close Price 1 682,00 JPY
Spread / Highest target 37,3%
Spread / Average Target 11,5%
Spread / Lowest Target -10,8%
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Managers and Directors
NameTitle
Takeshi Sugiyama Executive President, CEO & Representative Director
Tadashi Kawagoishi CFO, Director, Head-Finance & Accounting
Masaki Sakuyama Chairman
Eiichiro Mitani Chief Information Officer & Executive Officer
Kunihiko Kaga Chief Technology Officer & Executive Officer
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