Mitsubishi Electric Announces Status of Company Stock Repurchase
According to Articles of Incorporation Pursuant to Article 459, Paragraph 1 of Companies Act of Japan
TOKYO, December 3, 2021 - Mitsubishi Electric Corporation(TOKYO: 6503) announced today the status of its repurchase of company stock pursuant to the provisions of Article 459, paragraph 1 of the Companies Act, as well as Article 31 of the company's articles of incorporation approved by the Board of Directors on June 3, as shown below.
1.
Type of Shares Repurchased:
Common stock
2.
Number of Shares Repurchased:
2,823,100 shares
3.
Aggregate Value of Shares Repurchased:
JPY 4,269,209,950
4.
Repurchase Period:
November 1, 2021 to November 30, 2021
5.
Repurchase Method:
Market trades on Tokyo Stock Exchange
(For reference)
1. Details of resolution approved by the Board of Directors on June 3, 2021
(1)
Type of Shares to Repurchase:
Common stock
40,000,000 shares (maximum unit)
(2)
Number of Shares to Repurchase:
Share of total issued and outstanding shares (excluding
treasury stock): 1.86%
(3)
Aggregate Value of Repurchase:
JPY 50 billion (maximum limit)
(4)
Repurchase Period:
June 4, 2021 to March 31, 2022
(5)
Repurchase Method:
Market trades on Tokyo Stock Exchange
Note: Part or all of the above-mentioned repurchases might not be performed depending on market conditions and other factors.
2. Total number and aggregate value of shares repurchased pursuant to the abovementioned resolution of the Board of Directors (as of November 30, 2021)
(1)
Total number of shares repurchased:
16,485,100 shares
(2)
Aggregate value of shares repurchased:
JPY 24,999,871,700
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About Mitsubishi Electric Corporation
With 100 years of experience in providing reliable, high-quality products, 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. Mitsubishi Electric enriches society with technology in the spirit of its "Changes for the Better." The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com
*U.S. dollar amounts are translated from yen at the rate of ¥111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021
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Mitsubishi Electric Corporation published this content on 03 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2021 06:11:12 UTC.
Mitsubishi Electric Corporation is one of the world's leading manufacturers of electric and electronic equipment. Net sales (including intragroup) break down by family of products and by services as follows:
- industrial automation equipment (28.6%): programmable controllers, motor operators, counters, industrial robots, clutches, etc.;
- electric equipment (24.2%): generators, motors, transformers, power circuit breakers, testing systems, etc.;
- household appliances (22.4%): televisions, video recorders, air conditioners, refrigerators, lamps, vacuum cleaners, etc.;
- information and communication equipment (6.9%): mobile phones, satellites, aerials, medical and audiovisual equipment, servers, computers, etc.;
- electronic components and devices (4.7%): memory, logic integrated circuits, monitors, plasma screens, printed circuit cards, etc.;
- other (13.2%): financial services, real estate management, engineering and maintenance services, etc.
Net sales break down geographically as follows: Japan (52.1%), Asia (24.9%), Europe (11.1%), North America (10.3%) and other (1.6%).
MITSUBISHI ELECTRIC CORPORATION 
